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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 reported record revenues of $88.5 million for Q1 2021, marking a 46% increase year-over-year and a 7% sequential rise. The gross margin was 49.9%, with operating income reaching a record $13.4 million and net income of $19.9 million ($0.70 per diluted share). Adjusted EBITDA totaled $16.5 million, representing 18.6% of revenues. The company anticipates Q2 revenues between $85.0-$90.0 million and full-year revenues between $345.0-$359.0 million, indicating robust demand for wireless networking solutions amid ongoing infrastructure enhancements.
Cambium Networks (NASDAQ: CMBM) has launched a new ConnectedPartner program aimed at Managed Service Providers (MSPs), enabling them to offer multi-gigabit wireless technology easily. The program simplifies procurement, installation, and management, enhancing service offerings while reducing costs. MSPs gain access to special discounts, market development funds, dedicated support, and valuable training resources. A recent Tolly Group report highlighted Cambium's Wi-Fi 6 Access Points as outperforming major competitors in both performance and total cost of ownership.
Cambium Networks (NASDAQ: CMBM) announced the launch of the cnMatrix™ TX series of switches, specifically designed for service provider tower deployments and multi-gigabit fixed wireless broadband operators. Featuring GPS synchronization, flexible PoE options, and dual redundant power supplies, these switches aim to enhance network performance while simplifying deployment operations. The cnMatrix TX series boasts improved security through Policy-Based Automation and offers automation features for streamlined operations. Available with 8, 16, and 24 ports, these switches promise to bolster connectivity, reliability, and service quality.
Cambium Networks (NASDAQ: CMBM) announced special pricing and resources for service providers using Facebook's Express Wi-Fi platform, enhancing affordability and scalability for Wi-Fi deployments. The platform connects millions across 30+ countries, facilitating better internet access. As an official partner, Cambium supports service providers aiming to expand their network services, noted Tizeti Network Limited's success in Nigeria with over 2 million users. The initiative includes discounted equipment pricing, technical support, and free training to boost Express Wi-Fi adoption globally.
Cambium Networks (NASDAQ: CMBM) announced plans to report its first quarter 2021 financial results on May 6, 2021. The report will cover the period ending March 31, 2021. Following the announcement, the company will conduct a live webcast and conference call at 4:30 p.m. ET to discuss the financial results. President and CEO Atul Bhatnagar and CFO Stephen Cumming will present, followed by a Q&A session. Interested parties can access the call via phone or online, with replays available after the event.
Cambium Networks (NASDAQ: CMBM) announced a new partner program targeting healthcare solutions, featuring benefits for Value Added Resellers (VARs) and System Integrators. The program aims to enhance connectivity for healthcare facilities, emphasizing Wi-Fi 6 technology. Since its launch in March, over 50 partners have joined. The company's products are already in use at the Reha clinic in Italy, improving patient care through advanced monitoring systems. A Tolly Group report indicated Cambium's Wi-Fi 6 access points outperform competitors in performance and Total Cost of Ownership.
Cambium Networks (NASDAQ: CMBM) announced efforts to provide high-speed internet access to tribal communities across the Western United States. Collaborating with channel partners and entities like EnerTribe, the company has deployed broadband solutions in remote areas of California, Washington, New Mexico, Arizona, and Oregon, improving connectivity for over 100,000 individuals. This initiative, funded partly through the CARES Act, aims to bridge the digital divide faced by Indigenous populations, especially crucial during the COVID-19 pandemic for education and telemedicine.
Cambium Networks (NASDAQ: CMBM) has signed a multi-year agreement with Burke County School District, NC, to deliver Wi-Fi 6 access points for enhanced classroom connectivity. The project, utilizing E-Rate funding, will install 1,500 high-density access points across 27 schools, supporting 12,000 students. This initiative aims to facilitate simultaneous use of Zoom and streaming video, critical during the ongoing pandemic. Cambium's solutions promise high performance at a low total cost of ownership, addressing the digital divide in education.
Cambium Networks reported record revenues of $82.8 million for Q4 2020, a 13% sequential increase and 29% year-over-year growth. The company achieved a gross margin of 51.0% and a record net income of $10.5 million, equating to $0.38 per diluted share. For the full year, revenues reached $278.5 million, up 4% from 2019, with Adjusted EBITDA at a record $37.4 million. Looking ahead, Cambium anticipates Q1 2021 revenues between $81.0-$85.0 million and full-year revenues between $317.5-$331.4 million.
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