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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 that Lnet has deployed its ePMP™ fixed wireless broadband technology, connecting over 60,000 customers across Libya. The network comprises more than 1,500 Access Points situated on 250 towers, enhancing service in urban and suburban areas. Key features include GPS synchronization and smart beamforming antennas that improve bandwidth and reduce costs. This deployment showcases Lnet's ability to deliver high-quality services effectively, solidifying its position as Libya's largest private internet service provider.
Cambium Networks (NASDAQ: CMBM) reported Q3 2021 revenues of $75.9 million, a 4% increase year-over-year, despite a $16.8 million decrease from Q2 2021 due to global supply constraints. The GAAP net income was $4.6 million ($0.16 per share), down from $5.6 million ($0.21 per share) in Q3 2020. Adjusted EBITDA was $9.6 million (12.6% of revenues), lower than previous quarters. Cambium anticipates Q4 revenues between $73.5-$77.5 million and aims to maintain cost management and innovation.
Cambium Networks (CMBM) announced that Jade Communications is providing multi-gigabit wireless connectivity in Manassa, Colorado, utilizing Cambium's 60 GHz cnWave technology. Customers can access over 500 Mbps and up to 2 Gbps bandwidth. The technology enables faster service installations and reduced costs compared to traditional fiber. Jade has already installed over 65 cnWave units, enhancing services for its 4,500 subscribers. This initiative caters to the growing demand for higher bandwidth due to remote work and education needs.
Cambium Networks (NASDAQ: CMBM) announced the deployment of indoor and outdoor Wi-Fi access points by The Statue of Liberty-Ellis Island Foundation. This network enhances connectivity for over 4 million annual visitors and staff at Liberty Island, where cell service is limited. The upgraded Wi-Fi can support up to 25,000 visitors daily, allowing them to stream and communicate effectively. Cambium's solutions are tailored for high-density environments, ensuring reliable service in the 21,000 square foot museum and outdoor areas.
Cambium Networks (NASDAQ: CMBM) reported preliminary financial results for Q3 2021, projecting GAAP revenues of approximately $75 million, significantly lower than the previous estimate of $88-$92 million. This adjustment is attributed to global supply constraints affecting product shipments, expected to persist into H1 2022. However, demand remains strong, with a 57% increase in year-over-year backlog. Net income is anticipated to fall below prior GAAP and non-GAAP projections, with cash reserves expected to be around $58 million.
Cambium Networks (CMBM) announced the deployment of a public Wi-Fi network in downtown San José, California, as part of the city's Smart City Vision. Utilizing their 60 GHz cnWave technology, this network covers approximately 60 city blocks, enhancing connectivity for over 1 million residents and 80,000 businesses. This project aims to address digital equity, providing essential broadband services for remote learning and tele-health. The first phase of this initiative highlights the importance of wireless solutions in urban environments and reflects Cambium's commitment to connectivity.
Cambium Networks (NASDAQ: CMBM) announced a partnership with Pentanet to develop the neXus network in Perth, Australia. This multi-gigabit fixed wireless network aims to enhance internet access for both businesses and residential users, leveraging Cambium's 60 GHz cnWave technology and extending existing 300 km of dark fiber. The network's performance targets the growing demand for bandwidth-heavy applications, including cloud gaming. Cambium's solution promises cost-effective, scalable connectivity with lower operational expenses.
Cambium Networks (CMBM) announced the launch of the XV2-2T outdoor Wi-Fi 6 access points, offering up to 1 km range, significantly reducing equipment and operational costs. During recent field trials at the Olympic trials in Oregon, the XV2-2T supported streaming for 157 devices with outstanding performance. The access points are designed for large area coverage, pairing with Cambium's 60 GHz cnWave for high-speed connectivity. The product's unique antenna design contributes to its extensive range, allowing for installations with fewer access points, thus lowering overall costs.
Cambium Networks (CMBM) announced on September 10, 2021, that its enterprise-focused partners are enhancing throughput performance with its wireless solutions. Specifically, Cambium's technologies, such as Wi-Fi, fixed wireless broadband, and centralized management systems, have been effectively implemented in multi-dwelling units and hospitality venues. Notable improvements include a 75% reduction in user support calls and upgrades from 5 Mbps to 1 Gbps in RV parks. The company celebrates a decade in operation, having shipped over 10 million radios globally.
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