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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) has launched the ePMP Force 400 series, delivering gigabit-speed fixed wireless connectivity in the Sub-6 GHz spectrum. This innovative solution enables service providers and enterprises to extend connectivity affordably, avoiding the costs associated with licensed spectrum. The series includes the Force 425 and Force 400C, supporting high-capacity access services and fiber extensions. Endorsements highlight its performance and affordability, with a focus on expanding broadband access in various applications.
Cambium Networks (NASDAQ: CMBM) announced the launch of new cloud-first wired and wireless network management systems aimed at enhancing customer satisfaction and network performance insights. The cnMaestro portfolio includes cnMaestro X for medium to large networks and cnMaestro Essentials for small and medium networks. Features like zero touch provisioning and automated onboarding are designed to streamline network operations, reduce management costs, and improve user experiences. The solutions cater to service providers and enterprise operators, aiming to meet the growing demands for advanced network management.
Cambium Networks (CMBM) announced plans to report its financial results for Q4 and the full year 2020 on February 18, 2021. The report will detail performance ending December 31, 2020. Following the announcement, a live conference call will be held at 4:30 p.m. ET, featuring CEO Atul Bhatnagar and CFO Stephen Cumming. Interested parties can join via a webcast on the investor website, with replay options available for one year. Cambium Networks focuses on delivering wireless connectivity solutions for commercial and government network operators globally.
Cambium Networks Corporation (CMBM) announced a secondary public offering of 2.5 million ordinary shares priced at $28.00 each, resulting in approximately $70 million in gross proceeds for Vector Capital, the selling shareholder. The offering is set to close on December 8, 2020, pending customary closing conditions. Cambium will not receive any proceeds from this offering. Vector Capital has also granted underwriters a 30-day option to purchase an additional 375,000 shares at the offering price. The offering is being managed by J.P. Morgan Securities and others.
Cambium Networks Corporation (Nasdaq: CMBM) announced a secondary public offering of 2,500,000 ordinary shares, sold by Vector Cambium Holdings (Cayman), L.P., a Vector Capital affiliate. Additionally, there is a 30-day option for underwriters to buy an extra 375,000 shares at the public offering price. Cambium is not selling shares and will not receive proceeds from this offering. J.P. Morgan Securities LLC is the lead book-running manager for the transaction. A registration statement for these shares has been filed and approved by the U.S. Securities and Exchange Commission.
Cambium Networks (NASDAQ: CMBM) has announced its participation in the Qualcomm Smart Cities Accelerator Program, aiming to enhance connectivity solutions for smart applications. Leveraging its Gigabit wireless fabric, Cambium will provide advanced Wi-Fi 6 and 60 GHz fixed wireless technologies to partners within the program. This initiative addresses the connectivity challenges faced by cities, such as high fiber costs and the need for reliable broadband access. The collaboration is expected to drive smart city applications and connected spaces globally.
Cambium Networks reported record revenues of $73.0 million for Q3 2020, marking an increase of 17% sequentially and 11% year-over-year. The gross margin stood at 49.4%, while net income was a record $5.6 million or $0.21 per diluted share. Adjusted EBITDA was $11.4 million (15.6% of revenues). Net cash from operating activities was $16.4 million. The company launched a new 60 GHz cnWave broadband product, enhancing its technology portfolio. For Q4 2020, Cambium expects revenues between $74.0-$78.0 million.
Cambium Networks (CMBM) announced successful deployments of its 60 GHz cnWave solution across Australia, Malaysia, Puerto Rico, the UK, and the US, enhancing multi-gigabit broadband access. The technology, utilizing Facebook Connectivity's Terragraph tech and Qualcomm's 802.11ay standard, offers reliable connectivity at lower costs compared to fiber installation. YTL Communications in Malaysia and NextLink in the US have reported effective trial results, with speeds nearing 1.8 Gbps. This deployment aims to bridge the digital divide in underserved areas, showcasing Cambium's commitment to innovative wireless solutions.
Cambium Networks (NASDAQ: CMBM) has partnered with Tizeti Network Limited, Nigeria's leading public Wi-Fi operator, to supply an end-to-end wireless fabric solution. This collaboration aims to enhance Tizeti's ISP operations in Nigeria and Ghana, meeting increased demand for high-speed connectivity, accelerated by the COVID-19 pandemic. Tizeti, with over 1.5 million users, recently achieved a milestone, delivering over 70,000 GB of traffic daily. The deployment will utilize Cambium’s cnPilot Wi-Fi access points and ePMP fixed wireless technology.
Cambium Networks (NASDAQ: CMBM) announced preliminary third-quarter 2020 revenues expected to reach approximately $73 million, surpassing previous estimates of $64-$67 million. The increase is attributed to robust demand for fixed wireless broadband and cloud-powered enterprise Wi-Fi solutions. Key factors include the scaling of networks by service providers and heightened federal business. Net income is also projected to exceed earlier forecasts, while cash on hand is expected to be around $50 million. Cambium will report detailed financial results on Nov. 5, 2020.
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