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 (NASDAQ: CMBM) announced the deployment of over 100,000 Point-to-Multipoint (PMP) fixed wireless access solutions using the Citizens Broadband Radio Service (CBRS) frequency band in the U.S. in the past 18 months. The PMP 450m system, featuring cnMedusa™ Massive MU-MIMO technology, enables rapid network expansion for service providers. The FCC's 2019 action opened additional spectrum, allowing 24,000 licenses in Texas and Oklahoma alone. Cambium's solutions support various sectors and can be upgraded to meet growing connectivity demands.
Cambium Networks Corporation (NASDAQ: CMBM) announced its plans to release financial results for the second quarter of 2021 on August 9, 2021. The report will encompass results as of June 30, 2021. A live webcast and conference call will occur at 4:30 p.m. ET on the same day, featuring key executives including CEO Atul Bhatnagar and CFO Stephen Cumming. Investors can join the call by phone or through the company's investor website, where a replay will be available post-event.
On July 15, 2021, Cambium Networks (CMBM) announced that Alaska Communications is deploying its 60 GHz cnWave fixed wireless technology. This rollout will provide multi-gigabit service, reaching 6,500 homes and businesses with speeds up to 1 Gbps. Alaska Communications enhances its broadband offerings and introduces new speed tiers starting at 100 Mbps. The deployment is critical for expanding broadband access, especially for remote users. This initiative has garnered Cambium Networks' Wireless Connectivity Hero Award, recognizing Alaska Communications' leadership in wireless technology.
Cambium Networks (CMBM), a global provider of wireless networking solutions, has marked a significant milestone by shipping its 10 millionth radio since its inception in October 2011. This achievement highlights Cambium's commitment to delivering gigabit-speed fixed wireless and Wi-Fi solutions for various applications including municipal connectivity and national defense. The company reports that over 1,600 municipalities have adopted their technology, with ongoing deployments in places like Colombia for education and North America's largest railroad for critical infrastructure. Cambium Networks continues to lead with innovative connectivity solutions.
Cambium Networks Corporation (CMBM) announced a secondary public offering of 2,000,000 ordinary shares priced at $48.00 each, totaling approximately $96 million in gross proceeds for Vector Cambium Holdings. The offering is set to close on June 7, 2021, pending customary closing conditions. Notably, Cambium will not receive any proceeds from this offering, as it involves shares sold solely by Vector Capital. Additionally, the underwriters have a 30-day option to purchase up to 300,000 extra shares at the same price.
Cambium Networks Corporation (CMBM) announced a secondary public offering of 2,000,000 ordinary shares, solely by Vector Cambium Holdings (VCH, L.P.), affiliated with Vector Capital. The underwriter has a 30-day option to acquire an additional 300,000 shares. Cambium will not sell any shares nor receive proceeds from this offering. J.P. Morgan Securities LLC acts as the lead book-running manager. The registration statement for the offering has been filed and declared effective by the SEC, but it does not constitute an offer to sell or solicitation in jurisdictions where it's unlawful.
Cambium Networks (NASDAQ: CMBM) announced a partnership to enhance wireless broadband access in Arkansas. The company will provide microwave backhaul and fixed wireless systems to Aristotle Unified Communications, aiming to deliver internet speeds of up to 100 Mbps in underserved areas quickly. This initiative follows Aristotle's $30.9 million in CARES Act funding, addressing Arkansas's low internet connectivity rankings. The project will utilize Cambium's cloud-based management system to effectively manage the expanded network.
Cambium Networks (NASDAQ: CMBM) has been recognized as the Manufacturer of the Year by the Wireless ISP Association (WISPA) for the fourth consecutive year. This award highlights Cambium's contributions to the wireless broadband sector, serving nearly 7 million individuals and businesses across the U.S. through local WISPs. The company continues to advance in technologies such as 60 GHz cnWave multi-gigabit and CBRS devices, showcasing a strong commitment to innovation and collaboration within the broadband industry.
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.