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Side-by-side financial comparison of Cambium Networks Corp (CMBM) and ON24 INC. (ONTF). Click either name above to swap in a different company.
Cambium Networks Corp is the larger business by last-quarter revenue ($40.3M vs $34.6M, roughly 1.2× ON24 INC.). Cambium Networks Corp runs the higher net margin — -17.9% vs -18.8%, a 0.8% gap on every dollar of revenue. On growth, ON24 INC. posted the faster year-over-year revenue change (-5.6% vs -23.2%). ON24 INC. produced more free cash flow last quarter ($-2.2M vs $-10.8M). Over the past eight quarters, ON24 INC.'s revenue compounded faster (-4.2% 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.
ON24 Inc., a San Francisco-based company, is a cloud-based platform that develops and sells web-based webinar, virtual conferencing, content hub, and landing page applications as a service for marketing and sales teams in B2B organizations. In 2023 it expanded its offerings to include generative AI services.
CMBM vs ONTF — Head-to-Head
Income Statement — Q4 FY2024 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $40.3M | $34.6M |
| Net Profit | $-7.2M | $-6.5M |
| Gross Margin | 36.6% | 74.9% |
| Operating Margin | -28.4% | -23.5% |
| Net Margin | -17.9% | -18.8% |
| Revenue YoY | -23.2% | -5.6% |
| Net Profit YoY | 71.0% | 26.8% |
| EPS (diluted) | $-0.26 | $-0.15 |
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 | — | $34.6M | ||
| Q3 25 | — | $34.6M | ||
| Q2 25 | — | $35.3M | ||
| Q1 25 | — | $34.7M | ||
| Q4 24 | $40.3M | $36.7M | ||
| Q3 24 | $44.7M | $36.3M | ||
| Q2 24 | $45.2M | $37.3M | ||
| Q1 24 | $47.1M | $37.7M |
| Q4 25 | — | $-6.5M | ||
| Q3 25 | — | $-6.4M | ||
| Q2 25 | — | $-7.3M | ||
| Q1 25 | — | $-8.7M | ||
| Q4 24 | $-7.2M | $-8.9M | ||
| Q3 24 | $-34.5M | $-11.4M | ||
| Q2 24 | $-14.2M | $-11.2M | ||
| Q1 24 | $-18.4M | $-10.7M |
| Q4 25 | — | 74.9% | ||
| Q3 25 | — | 74.7% | ||
| Q2 25 | — | 75.1% | ||
| Q1 25 | — | 73.8% | ||
| Q4 24 | 36.6% | 74.5% | ||
| Q3 24 | 43.6% | 74.3% | ||
| Q2 24 | 32.5% | 74.5% | ||
| Q1 24 | 29.8% | 74.1% |
| Q4 25 | — | -23.5% | ||
| Q3 25 | — | -23.1% | ||
| Q2 25 | — | -26.0% | ||
| Q1 25 | — | -30.1% | ||
| Q4 24 | -28.4% | -32.1% | ||
| Q3 24 | -69.6% | -36.7% | ||
| Q2 24 | -27.2% | -35.0% | ||
| Q1 24 | -33.1% | -33.1% |
| Q4 25 | — | -18.8% | ||
| Q3 25 | — | -18.4% | ||
| Q2 25 | — | -20.6% | ||
| Q1 25 | — | -25.1% | ||
| Q4 24 | -17.9% | -24.2% | ||
| Q3 24 | -77.3% | -31.4% | ||
| Q2 24 | -31.5% | -29.9% | ||
| Q1 24 | -39.2% | -28.4% |
| Q4 25 | — | $-0.15 | ||
| Q3 25 | — | $-0.15 | ||
| Q2 25 | — | $-0.17 | ||
| Q1 25 | — | $-0.21 | ||
| Q4 24 | $-0.26 | $-0.21 | ||
| Q3 24 | $-1.22 | $-0.27 | ||
| Q2 24 | $-0.51 | $-0.27 | ||
| Q1 24 | $-0.66 | $-0.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $37.0M |
| Total DebtLower is stronger | $67.6M | — |
| Stockholders' EquityBook value | $-3.2M | $139.4M |
| Total Assets | $173.7M | $228.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $37.0M | ||
| Q3 25 | — | $47.2M | ||
| Q2 25 | — | $37.7M | ||
| Q1 25 | — | $26.8M | ||
| Q4 24 | — | $14.9M | ||
| Q3 24 | — | $11.0M | ||
| Q2 24 | — | $15.5M | ||
| Q1 24 | — | $18.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $67.6M | — | ||
| Q3 24 | $67.6M | — | ||
| Q2 24 | $68.9M | — | ||
| Q1 24 | $63.8M | — |
| Q4 25 | — | $139.4M | ||
| Q3 25 | — | $144.3M | ||
| Q2 25 | — | $150.0M | ||
| Q1 25 | — | $153.7M | ||
| Q4 24 | $-3.2M | $159.4M | ||
| Q3 24 | $1.9M | $164.9M | ||
| Q2 24 | $34.1M | $170.8M | ||
| Q1 24 | $45.0M | $174.4M |
| Q4 25 | — | $228.4M | ||
| Q3 25 | — | $224.8M | ||
| Q2 25 | — | $235.1M | ||
| Q1 25 | — | $245.8M | ||
| Q4 24 | $173.7M | $251.0M | ||
| Q3 24 | $194.3M | $250.9M | ||
| Q2 24 | $221.1M | $259.0M | ||
| Q1 24 | $219.8M | $269.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $-1.1M |
| Free Cash FlowOCF − Capex | $-10.8M | $-2.2M |
| FCF MarginFCF / Revenue | -26.8% | -6.4% |
| Capex IntensityCapex / Revenue | 1.1% | 3.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-21.4M | $4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-1.1M | ||
| Q3 25 | — | $2.5M | ||
| Q2 25 | — | $2.6M | ||
| Q1 25 | — | $3.4M | ||
| Q4 24 | $-10.4M | $985.0K | ||
| Q3 24 | $8.9M | $295.0K | ||
| Q2 24 | $2.4M | $1.4M | ||
| Q1 24 | $-15.9M | $2.1M |
| Q4 25 | — | $-2.2M | ||
| Q3 25 | — | $2.2M | ||
| Q2 25 | — | $2.1M | ||
| Q1 25 | — | $1.9M | ||
| Q4 24 | $-10.8M | $424.0K | ||
| Q3 24 | $6.8M | $143.0K | ||
| Q2 24 | $87.0K | $898.0K | ||
| Q1 24 | $-17.4M | $1.1M |
| Q4 25 | — | -6.4% | ||
| Q3 25 | — | 6.2% | ||
| Q2 25 | — | 5.9% | ||
| Q1 25 | — | 5.6% | ||
| Q4 24 | -26.8% | 1.2% | ||
| Q3 24 | 15.2% | 0.4% | ||
| Q2 24 | 0.2% | 2.4% | ||
| Q1 24 | -37.0% | 2.9% |
| Q4 25 | — | 3.3% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | 1.1% | 1.5% | ||
| Q3 24 | 4.8% | 0.4% | ||
| Q2 24 | 5.1% | 1.3% | ||
| Q1 24 | 3.3% | 2.8% |
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% |
ONTF
Segment breakdown not available.
