Cambium Networks Stock Price, News & Analysis

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.

Cambium Networks (CMBM) announced the launch of its new 60 GHz cnWave solution, utilizing millimeter wave technology to provide affordable, multi-gigabit broadband connectivity. This innovation is designed to replace traditional fiber solutions in urban and suburban environments, offering faster deployment and lower costs. The technology, compliant with the 802.11ay standard, enables symmetrical performance crucial for modern demands. Cambium aims to bridge the digital divide, enhancing internet access for underserved populations while disrupting existing network cost models.

Cambium Networks reported Q2 2020 revenues of $62.3 million, marking a 3% sequential increase but a $6.9 million decline year-over-year. GAAP net income was $3.3 million or $0.13 per diluted share, while non-GAAP net income rose to $4.3 million or $0.16 per diluted share. The adjusted EBITDA was $7.7 million, representing 12.3% of revenues. Cash provided by operating activities reached $26.2 million. The company anticipates Q3 revenues between $64.0-$67.0 million with continued growth in its Wi-Fi 6 product line.

Cambium Networks announced its leadership in the adoption of Citizens Broadband Radio Service (CBRS) with approximately 20,000 devices deployed across the U.S. The company has enabled faster broadband connectivity for rural and suburban areas, enhancing local government and enterprise networks. Cambium's software-defined radios facilitate a seamless transition to CBRS, especially for users of the previous Part 90 devices. The company has emphasized the need for operators to act before the October 17, 2020 license expiration date to leverage CBRS opportunities.

Cambium Networks Corporation (CMBM) announced the appointment of Kevin J. Lynch as an independent board member and audit committee member, effective June 25, 2020. Lynch, who has extensive financial and corporate governance experience, aims to provide valuable insights into Cambium's strategy and profitability. He has held various investment roles, including at Jana Partners LLC. Robert Amen will maintain his position as chairman while stepping down from the audit committee. Lynch's addition is expected to enhance Cambium's focus on growth opportunities in fixed wireless broadband and enterprise Wi-Fi.

Cambium Networks (NASDAQ: CMBM) announced on June 24, 2020, the launch of new Wi-Fi 6 products, including access points and multi-gigabit switches. These innovations leverage a software-defined radio architecture to enhance Wi-Fi speeds by up to 30% while reducing ownership costs. Targeted at enterprises and service providers, the new products aim to meet the growing demand for connectivity in high-density environments. Cambium emphasizes improved performance, cost savings, and easier management through cloud-based solutions.

Cambium Networks (NASDAQ: CMBM) announced a shift to a virtual-only format for its 2020 Annual Meeting of Shareholders due to COVID-19 concerns. The meeting is scheduled for June 3, 2020, at 10:00 a.m. Pacific Time. Shareholders must register by June 1, 2020, to attend virtually. The meeting aims to ensure safety while maintaining shareholder participation, allowing them to submit questions online. Cambium Networks specializes in wireless networking solutions and operates globally with R&D centers in the U.S., U.K., and India.

Cambium Networks reported Q1 2020 revenues of $60.4 million, exceeding expectations despite a 106% year-over-year increase in enterprise Wi-Fi revenues. The company experienced a net loss of $0.8 million or $0.03 per diluted share, contrasted by a non-GAAP net income of $1.4 million or $0.05 per diluted share. Gross margin stood at 50.7%, up from 46.7% in Q1 2019. Cash totaled $24.5 million, demonstrating resilience amid market challenges. Guidance for Q2 2020 estimates revenues between $51.0-$56.0 million and a GAAP net loss up to $1.9 million.