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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) announced advancements in its fixed wireless infrastructure solutions, catering to national defense, security, and communication needs. The company highlighted its successful contract awards since Q2 2022, including tactical defense programs for the U.S. Army, Navy, Marine Corps, and Air Force, as well as major contracts in Europe and Africa. Cambium's PTP 78700 microwave radio recently received government certification, enhancing its operational capabilities. The company emphasizes its commitment to delivering reliable communications in critical defense scenarios, showcasing robust product performance and various accreditations.
Cambium Networks Corporation (NASDAQ: CMBM) has announced plans to report its fourth quarter and full year 2022 financial results on February 16, 2023, after the market closes. The results will be discussed in a live webcast and conference call at 4:30 p.m. ET, featuring President and CEO Atul Bhatnagar and CFO Andrew Bronstein. Interested participants can register for the call in advance and access the live stream via the company’s investor website.
Cambium Networks has launched the ePMP 4600, a next-gen fixed wireless platform leveraging the 6 GHz spectrum to deliver up to 4 Gbps throughput. This technology aims to enhance broadband access, especially in rural areas, enabling service providers to offer up to 1 Gbps service packages rapidly. The FCC is anticipated to fully open the 6 GHz band in 2023, which will accelerate deployment. Cambium's ePMP 4600 is part of its broader ONE Network, which simplifies network management across diverse technologies.
Cambium Networks (CMBM) reported Q3 2022 revenues of $81.2 million, marking a 17% increase sequentially and 7% year-over-year. Notably, Enterprise revenues surged to $38.3 million, up 60% sequentially and 257% year-over-year. The company achieved a gross margin of 50.7% and net income of $9.4 million or $0.34 per diluted share. For Q4 2022, Cambium anticipates revenues between $80.0-$84.0 million with net income expected between $3.9-$5.4 million.
Cambium Networks has announced the launch of its cnWave 60 GHz V2000 client node, designed for reliable multi-gigabit backhaul in various applications such as video surveillance and outdoor Wi-Fi. This new solution promises less than 1 ms latency and can deliver throughput of up to 5 Gbps over distances of 1 kilometer. Targeting municipalities and enterprises, the V2000 offers a cost-effective alternative to traditional fiber networks, and its deployment could significantly enhance connectivity options across urban environments, presenting faster revenue opportunities.
Cambium Networks (NASDAQ: CMBM) launched the Cambium ONE Network for Enterprise, a framework designed to enhance efficiency and ease of network management for enterprises and MSPs. This new solution includes Network Service Edge (NSE) integration, offering SD-WAN, security features, and application visibility. Additionally, Cambium introduced four new Wi-Fi 6 and 6E Access Points, extending its access portfolio to better serve various market needs. Overall, these innovations aim to simplify operations and optimize application performance for IT teams.
Cambium Networks (NASDAQ: CMBM) has unveiled four new indoor and outdoor access points (APs) powered by Qualcomm's Wi-Fi 6 and 6E technology. Designed for diverse enterprise needs, these APs promise high-performance connectivity while ensuring low total cost of ownership. They cater to various sectors including hospitality, education, and healthcare, and are easy to install, making them suitable for organizations with limited IT resources. This product launch aligns with the Cambium ONE Network initiative, aiming to streamline networking and security solutions for enterprises.
Cambium Networks (NASDAQ: CMBM) announced plans to report its third quarter 2022 financial results on November 3, 2022. The results will cover the period ending September 30, 2022. A live webcast and conference call will be held at 4:30 p.m. ET on the same day, featuring Atul Bhatnagar, president and CEO, and Andrew Bronstein, CFO. Investors can access the event through the company's investor page. A replay will be available for one year after the call.
Cambium Networks has launched the Cambium ONE Network, a new platform that enhances Internet Service Providers' (ISPs) operations through automation and optimization. This platform integrates various technologies, enabling streamlined management from a central location. Notably, the introduction of 6 GHz fixed wireless technology addresses spectrum congestion issues, significantly increasing throughput capacity. The network aims to solve challenges like resource scarcity and rising subscriber churn, ultimately facilitating better online experiences for users.
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