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Side-by-side financial comparison of Cambium Networks Corp (CMBM) and indie Semiconductor, Inc. (INDI). Click either name above to swap in a different company.
indie Semiconductor, Inc. is the larger business by last-quarter revenue ($58.0M vs $40.3M, roughly 1.4× Cambium Networks Corp). Cambium Networks Corp runs the higher net margin — -17.9% vs -53.8%, a 35.9% gap on every dollar of revenue. On growth, indie Semiconductor, Inc. posted the faster year-over-year revenue change (-0.0% vs -23.2%). Cambium Networks Corp produced more free cash flow last quarter ($-10.8M vs $-16.1M). Over the past eight quarters, indie Semiconductor, Inc.'s revenue compounded faster (5.3% CAGR vs -27.2%).
Cambium Networks Corporation is an American manufacturer of wireless telecommunications equipment, including Enterprise WiFi, Network switch, Internet of Things, and fixed wireless broadband and Wi-Fi for enterprises products for Internet access. Publicly traded on the NASDAQ stock exchange, it spun out of Motorola in October 2011.
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
CMBM vs INDI — Head-to-Head
Income Statement — Q4 FY2024 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $40.3M | $58.0M |
| Net Profit | $-7.2M | $-31.2M |
| Gross Margin | 36.6% | 37.3% |
| Operating Margin | -28.4% | -58.5% |
| Net Margin | -17.9% | -53.8% |
| Revenue YoY | -23.2% | -0.0% |
| Net Profit YoY | 71.0% | 9.1% |
| EPS (diluted) | $-0.26 | $-0.16 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $58.0M | ||
| Q3 25 | — | $53.7M | ||
| Q2 25 | — | $51.6M | ||
| Q1 25 | — | $54.1M | ||
| Q4 24 | $40.3M | $58.0M | ||
| Q3 24 | $44.7M | $54.0M | ||
| Q2 24 | $45.2M | $52.4M | ||
| Q1 24 | $47.1M | $52.4M |
| Q4 25 | — | $-31.2M | ||
| Q3 25 | — | $-38.3M | ||
| Q2 25 | — | $-39.0M | ||
| Q1 25 | — | $-34.5M | ||
| Q4 24 | $-7.2M | $-34.4M | ||
| Q3 24 | $-34.5M | $-49.7M | ||
| Q2 24 | $-14.2M | $-19.2M | ||
| Q1 24 | $-18.4M | $-31.2M |
| Q4 25 | — | 37.3% | ||
| Q3 25 | — | 40.1% | ||
| Q2 25 | — | 40.6% | ||
| Q1 25 | — | 41.7% | ||
| Q4 24 | 36.6% | 42.6% | ||
| Q3 24 | 43.6% | 39.3% | ||
| Q2 24 | 32.5% | 42.2% | ||
| Q1 24 | 29.8% | 42.5% |
| Q4 25 | — | -58.5% | ||
| Q3 25 | — | -71.4% | ||
| Q2 25 | — | -83.3% | ||
| Q1 25 | — | -72.0% | ||
| Q4 24 | -28.4% | -58.4% | ||
| Q3 24 | -69.6% | -92.5% | ||
| Q2 24 | -27.2% | -70.0% | ||
| Q1 24 | -33.1% | -94.8% |
| Q4 25 | — | -53.8% | ||
| Q3 25 | — | -71.3% | ||
| Q2 25 | — | -75.6% | ||
| Q1 25 | — | -63.9% | ||
| Q4 24 | -17.9% | -59.2% | ||
| Q3 24 | -77.3% | -92.1% | ||
| Q2 24 | -31.5% | -36.6% | ||
| Q1 24 | -39.2% | -59.6% |
| Q4 25 | — | $-0.16 | ||
| Q3 25 | — | $-0.19 | ||
| Q2 25 | — | $-0.20 | ||
| Q1 25 | — | $-0.18 | ||
| Q4 24 | $-0.26 | $-0.18 | ||
| Q3 24 | $-1.22 | $-0.28 | ||
| Q2 24 | $-0.51 | $-0.11 | ||
| Q1 24 | $-0.66 | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $145.5M |
| Total DebtLower is stronger | $67.6M | $353.4M |
| Stockholders' EquityBook value | $-3.2M | $358.0M |
| Total Assets | $173.7M | $840.8M |
| Debt / EquityLower = less leverage | — | 0.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $145.5M | ||
| Q3 25 | — | $160.9M | ||
| Q2 25 | — | $192.6M | ||
| Q1 25 | — | $236.6M | ||
| Q4 24 | — | $274.2M | ||
| Q3 24 | — | $96.9M | ||
| Q2 24 | — | $112.3M | ||
| Q1 24 | — | $138.2M |
| Q4 25 | — | $353.4M | ||
| Q3 25 | — | $353.5M | ||
| Q2 25 | — | $352.5M | ||
| Q1 25 | — | $379.0M | ||
| Q4 24 | $67.6M | $381.3M | ||
| Q3 24 | $67.6M | — | ||
| Q2 24 | $68.9M | — | ||
| Q1 24 | $63.8M | — |
| Q4 25 | — | $358.0M | ||
| Q3 25 | — | $369.2M | ||
| Q2 25 | — | $390.4M | ||
| Q1 25 | — | $405.6M | ||
| Q4 24 | $-3.2M | $417.9M | ||
| Q3 24 | $1.9M | $458.6M | ||
| Q2 24 | $34.1M | $470.7M | ||
| Q1 24 | $45.0M | $432.9M |
| Q4 25 | — | $840.8M | ||
| Q3 25 | — | $855.1M | ||
| Q2 25 | — | $867.6M | ||
| Q1 25 | — | $909.0M | ||
| Q4 24 | $173.7M | $941.4M | ||
| Q3 24 | $194.3M | $797.5M | ||
| Q2 24 | $221.1M | $797.3M | ||
| Q1 24 | $219.8M | $803.6M |
| Q4 25 | — | 0.99× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.90× | ||
| Q1 25 | — | 0.93× | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | 36.12× | — | ||
| Q2 24 | 2.02× | — | ||
| Q1 24 | 1.42× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-10.4M | $-14.4M |
| Free Cash FlowOCF − Capex | $-10.8M | $-16.1M |
| FCF MarginFCF / Revenue | -26.8% | -27.8% |
| Capex IntensityCapex / Revenue | 1.1% | 3.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-21.4M | $-71.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-14.4M | ||
| Q3 25 | — | $-6.2M | ||
| Q2 25 | — | $-7.6M | ||
| Q1 25 | — | $-29.0M | ||
| Q4 24 | $-10.4M | $-6.7M | ||
| Q3 24 | $8.9M | $-22.8M | ||
| Q2 24 | $2.4M | $-19.7M | ||
| Q1 24 | $-15.9M | $-9.3M |
| Q4 25 | — | $-16.1M | ||
| Q3 25 | — | $-10.3M | ||
| Q2 25 | — | $-13.6M | ||
| Q1 25 | — | $-31.4M | ||
| Q4 24 | $-10.8M | $-8.6M | ||
| Q3 24 | $6.8M | $-29.3M | ||
| Q2 24 | $87.0K | $-23.4M | ||
| Q1 24 | $-17.4M | $-11.7M |
| Q4 25 | — | -27.8% | ||
| Q3 25 | — | -19.2% | ||
| Q2 25 | — | -26.4% | ||
| Q1 25 | — | -58.0% | ||
| Q4 24 | -26.8% | -14.8% | ||
| Q3 24 | 15.2% | -54.3% | ||
| Q2 24 | 0.2% | -44.7% | ||
| Q1 24 | -37.0% | -22.3% |
| Q4 25 | — | 3.0% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | — | 11.6% | ||
| Q1 25 | — | 4.4% | ||
| Q4 24 | 1.1% | 3.2% | ||
| Q3 24 | 4.8% | 12.1% | ||
| Q2 24 | 5.1% | 7.0% | ||
| Q1 24 | 3.3% | 4.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMBM
| Enterprise | $16.6M | 41% |
| Point To Multi Point | $16.4M | 41% |
| Other | $5.8M | 14% |
INDI
| Products | $55.7M | 96% |
| Services | $2.3M | 4% |
