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Cambium Networks Corporation (NASDAQ: CMBM) is a leading global provider of wireless broadband solutions that connect the unconnected. Headquartered near Chicago, Illinois, the company operates with R&D centers in the U.S., U.K., and India. Cambium Networks specializes in delivering reliable, scalable, and secure Wi-Fi and wireless broadband point-to-point (PTP) and point-to-multipoint (PMP) platforms, managed by advanced cloud-based software.
The company's extensive product portfolio allows service providers, enterprises, governmental and military agencies, oil, gas, and utility companies, internet service providers, and public safety networks to build powerful communications networks. These networks can reach users from 200 kilometers across mountain tops down to the last meter to their devices. Cambium Networks' solutions offer end-to-end network visibility and actionable analytics, helping customers intelligently manage their infrastructure.
Recently, Cambium Networks announced preliminary revenues of approximately $40 million for Q4 2023, noting significant shipments and aggressive enterprise product discounts aimed at clearing excess channel inventories. Despite these challenges, the company reported higher point-of-sale revenues, indicating a decrease in channel inventories. The company also announced a transition in its CFO role, with Andrew Bronstein departing and John Becerril stepping in as interim CFO.
Cambium Networks regularly collaborates with global distributors to ensure the widespread availability of their products. The company has recently expanded its product offerings with new solutions like the ePMP 4600 6 GHz fixed wireless for the Canadian market and the X7-35X Wi-Fi 7 access point, providing high-speed, low-latency connectivity for businesses and residential customers. Cambium Networks continues to innovate and adapt to the ever-evolving technological landscape, ensuring they stay at the forefront of wireless communication advancements.
For more information, investors can access the live webcast and financial results Q&A sessions via the Cambium Networks investor page. The company also engages in strategic partnerships, such as the recent collaboration with Nonius to enhance connectivity solutions for the hospitality industry, exemplified by their successful deployment at Dakota Hotels in the U.K.
Cambium Networks (NASDAQ: CMBM) reported Q3 2024 financial results with revenues of $43.7 million, down 5% sequentially. The company posted a GAAP net loss of $9.7 million ($0.34 per share) and a non-GAAP net loss of $3.8 million ($0.14 per share). Gross margin improved to 39.9% GAAP and 42.3% non-GAAP. Operating cash flow was positive at $8.9 million with $46.5 million cash on hand. The company was not in compliance with its quarterly consolidated EBITDA covenant and October 2024 liquidity covenant, working with lenders for forbearance. Q4 2024 outlook projects revenues between $40.0-$45.0 million with continued operating losses.
Cambium Networks (NASDAQ: CMBM) has announced it will report its third quarter 2024 financial results on Thursday, November 7, 2024. The company will host a live webcast and conference call at 4:30 p.m. EDT on the same day, featuring President and CEO Morgan Kurk and CFO Jacob Sayer. Investors can access the webcast through the company's investor page, and a replay will be available for one year. Conference call participants must register in advance to receive dial-in details.
Cambium Networks (NASDAQ: CMBM) has announced a strategic collaboration with QUILT, NODE Networks, TMA Technology Solutions, and ComEd to enhance digital equity in underserved communities across Chicago. The initiative, part of QUILT's Broadband Access for Brighter Futures Program, will deploy a 401-mile fiber network across Cook County and Chicago's South and West Sides, benefiting over 440,000 households.
The project will utilize ComEd's middle-mile infrastructure and Cambium Networks' technology, including cnWave 60 GHz, Enterprise Wi-Fi, cnMatrix Ethernet Switches, and XGS PON, to create a cost-effective hybrid-fiber solution. This approach aims to reduce deployment costs, expedite implementation, and significantly close the digital divide in the area.
Cambium Networks (NASDAQ: CMBM) reported its Q2 2024 financial results, showing signs of improvement despite ongoing challenges. Revenues increased 9% sequentially to $45.9 million, while gross margin improved to 31.4% (33.5% non-GAAP). The company reported a net loss of $9.1 million ($0.33 per diluted share), or $7.1 million ($0.25 per diluted share) on a non-GAAP basis. Notably, Cambium achieved positive cash flow from operations of $2.4 million and ended the quarter with $42.6 million in cash. The company's Enterprise and Point-to-Multi-Point businesses showed strength, and channel inventories declined. Management expects continued financial improvement for the remainder of 2024, focusing on cost control and operational efficiency.
Cambium Networks (NASDAQ: CMBM) and Cal.net have announced the deployment of a 6 GHz fixed wireless access (FWA) network following recent FCC approval for outdoor use of 6 GHz spectrum. This deployment aims to deliver reliable, high-speed internet to underserved communities. The 6 GHz spectrum offers 850 MHz of clean spectrum in the US, addressing congestion in the 5 GHz band.
Cambium's ePMP 4600 platform supports the entire 6 GHz spectrum, providing scalable, high-capacity solutions. It can support up to 120 subscribers per sector with capacities of up to 4 Gbps per sector. Cal.net will use this technology to deliver gigabit speeds over the air at a low cost, making high-speed internet more accessible across their California service territory.
Cambium Networks (NASDAQ: CMBM) has announced plans to report its second quarter 2024 financial results on August 8, 2024. The report will cover the period ending June 30, 2024. A live webcast and conference call, hosted by CEO Morgan Kurk and CFO Jacob Sayer, will be held at 4:30 p.m. ET on the same day. The webcast can be accessed via Cambium Networks' investor page, where additional materials will be posted, and a replay will be available for one year.
To join the live conference call by phone, participants must register in advance to receive the dial-in number and unique passcode. The registration link is provided on Cambium Networks' website.
Cambium Networks (NASDAQ: CMBM) announced significant investments in its ConnectedPartner channel program, enhancing value and tools for Enterprise partners such as Managed Wi-Fi Service Providers, Value Added Resellers, and System Integrators.
The new program introduces an Elite partner level with benefits designed to accelerate growth, reduce risk, and increase sales. The core of this initiative is Cambium's ONE Network platform, simplifying the management of wired and wireless broadband and Wi-Fi network edge technologies.
Key benefits for top-tier partners include higher margins, joint marketing resources, geographic scarcity, exclusive lifecycle support, priority access to leads, and discounted virtual training. This initiative aims to help partners generate new revenue opportunities, combat margin erosion, and enhance network team capacity.
Cambium Networks (NASDAQ: CMBM) announced the full FCC and ISED certification of its PMP 450v Fixed Wireless Access Point and Subscriber Module, enhancing connectivity solutions in the 6 GHz spectrum. This certification allows for increased broadband capacity, addressing the limitations of the crowded 5 GHz spectrum.
The PMP 450v supports both backward and forward compatibility, with ultra-wideband support up to 160 MHz total channel bandwidth and 4x4 MIMO capabilities, offering up to 1.2 Gbps capacity and low latency of 3-5 ms. It integrates seamlessly with Cambium's cnMaestro™ management system and LINKPlanner tool, and features automated frequency coordination at no additional cost.
The certification highlights Cambium's commitment to advancing wireless broadband technology, aiming to equip network operators with the tools for optimal deployment and enhanced service offerings.
Cambium Networks (NASDAQ: CMBM) announced its wireless technology has been selected for the 'Connected Campus' project in Morocco, deploying multi-gigabit Wi-Fi 6 access at 12 major public universities across more than 200 campuses.
Over 1.3 million students and staff will benefit from this network, which includes more than 18,000 access points. Partnered with 3GCOM, Cambium's Wi-Fi 6 solutions will provide indoor and outdoor coverage, optimized for cost and performance.
This initiative aims to support stable and affordable digital learning environments, with features like centralized cloud management and AI-based analytics.
Edelson Lechtzin LLP, a premier class action law firm, is investigating securities fraud claims on behalf of investors in Cambium Networks (NASDAQ: CMBM) common stock, covering the period from May 8, 2023, to January 18, 2024. The firm urges shareholders who experienced significant losses to contact them by July 22, 2024, to consider the role of lead plaintiff in this class action. The allegations include failure to disclose excess inventory, aggressive discounting, projected revenue declines, and significant write-downs. Subsequent financial reports led to considerable stock price declines, including a 30% drop on August 2, 2023, a 36.2% drop on October 5, 2023, and a 12.4% drop on January 19, 2024.
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