Cambium Networks Corporation - $CMBM STOCK NEWS

Cambium Networks (NASDAQ: CMBM), a global provider of broadband networking solutions, announced significant advancements in its fixed wireless infrastructure, supporting national defense, federal and civilian agencies, public safety, and law enforcement. CEO Morgan Kurk emphasized the increasing importance of secure, reliable communications in defense.

In H2 2023, Cambium secured multiple contracts within the defense and security sectors, collaborating with entities like Aikom Technologies, Northrop Grumman, and Wesco Anixter. The company also introduced new products, notably the PTP 700 Beam Steering Outdoor Unit with an integrated smart antenna at the U.S. Army Annual Conference.

Cambium Networks reported its first quarter 2024 financial results, showcasing a sequential revenue increase of 5% but a significant year-over-year decline of 45%. The company experienced a net loss of $26.4 million and an adjusted EBITDA loss of $15.5 million. Despite challenges, Cambium Networks aims for sequential growth throughout 2024.

Cambium Networks and Exertis Enterprise have formed a strategic partnership to offer networking solutions across Europe, focusing on the DACH and Benelux areas. The collaboration aims to provide compelling Wi-Fi experiences for various sectors, including hospitality, education, retail, and more. The partnership offers cost-effective solutions, increased reliability, security, and automation through AI analytics. It also includes a partner program for higher margins and reduced risks for top-tier partners.

Cambium Networks , a wireless networking infrastructure solutions provider, will report its first-quarter 2024 financial results on May 9, 2024. The company will host a conference call and webcast for investors and analysts to discuss the results.

Cambium Networks (CMBM) appoints Jacob Sayer as Chief Financial Officer, bringing extensive experience from Sensata Technologies. Sayer to lead financial strategies and global finance organization, succeeding John Becerril. The appointment aims to drive strong financial results and operational discipline.

Cambium Networks (CMBM) introduces the X7-35X access point, a Wi-Fi 7 solution powered by Qualcomm Technologies, promising industry-leading price-performance and superior speed, latency, and connection reliability.

Cambium Networks (CMBM) introduces ePMP 4600, the first 6 GHz outdoor fixed wireless solution to receive ISEDC certification, enabling speeds greater than 1 Gbps in Canada. The platform offers scalability, interference tolerance, and capacity up to 4 Gbps per sector, catering to both rural and suburban areas.

Cambium Networks Corporation announced financial results for Q4 2023 with revenues of $40.2 million, a 7% sequential decrease, and a 52% year-over-year decrease. The company reported an operating loss of $39.3 million and a net loss of $39.0 million. Adjusted EBITDA was a loss of $32.9 million or (81.8)% of revenues.

Cambium Networks Corporation (CMBM) announced preliminary revenues for Q4 2023, expecting approximately $40.0 million compared to the previous outlook of $45.0-$50.0 million. The company shipped $51 million in product revenues during the quarter, offset by an $11 million reduction due to incentives provided to distributors. Point-of-sale revenues were significantly higher than reported revenues, indicating a decrease in channel inventories. The net loss and loss per share are expected to be below the low end of the previous GAAP and non-GAAP ranges. The gross margin will also be below the low end of the range due to increased excess and obsolete inventory reserves. Cash is expected to be approximately $18 million. The company expects full year 2024 revenues of between $215 million to $245 million. Additionally, the company announced the departure of its chief financial officer, with the interim chief accounting officer assuming the responsibilities.