Welcome to our dedicated page for Cambium Networks news (Ticker: CMBM), a resource for investors and traders seeking the latest updates and insights on Cambium Networks stock.
Cambium Networks Corp develops wireless and wired networking solutions for service providers, enterprises, industrial organizations and government customers. Company updates commonly cover the ONE Network platform, fixed wireless broadband, Wi-Fi access points, network edge technologies, cloud management through cnMaestro X, and Network Service Edge security and SD-WAN capabilities for satellite, LTE and 5G-connected sites.
Recurring news also includes financial and commercial activity, product introductions, SEC reporting updates, restatement-related matters, executive finance leadership changes, and Nasdaq listing compliance developments affecting the company’s ordinary shares.
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.
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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.
Cambium Networks (CMBM) has become a founding member of the Future Technologies Venture LLC Innovation Center in Atlanta as of August 18, 2021. This center will focus on broadband and Wi-Fi 6 connectivity solutions and includes advanced lab capabilities for testing wireless technologies such as Wi-Fi 6, 5G, and CBRS. The partnership aims to enhance access to wireless broadband, with Cambium's multi-gigabit solutions positioned to address connectivity challenges. Cambium has shipped over 10 million radios globally since its inception in 2011.
Cambium Networks (CMBM) reported strong Q2 2021 results, achieving record revenues of $92.7 million, a 49% year-over-year increase. GAAP net income reached $11.5 million or $0.40 per diluted share, up from $3.3 million a year ago. Non-GAAP net income also marked a record at $12.9 million, or $0.45 per diluted share. The company shipped its 10 millionth radio and reported robust demand across Point-to-Multi-Point and enterprise Wi-Fi solutions. Looking ahead, Cambium forecasts Q3 revenues between $88.0-$92.0 million and a full-year revenue outlook of $357.0-$365.0 million.