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 plans to report its financial results for Q4 and the full year 2020 on February 18, 2021. The report will detail performance ending December 31, 2020. Following the announcement, a live conference call will be held at 4:30 p.m. ET, featuring CEO Atul Bhatnagar and CFO Stephen Cumming. Interested parties can join via a webcast on the investor website, with replay options available for one year. Cambium Networks focuses on delivering wireless connectivity solutions for commercial and government network operators globally.
Cambium Networks Corporation (CMBM) announced a secondary public offering of 2.5 million ordinary shares priced at $28.00 each, resulting in approximately $70 million in gross proceeds for Vector Capital, the selling shareholder. The offering is set to close on December 8, 2020, pending customary closing conditions. Cambium will not receive any proceeds from this offering. Vector Capital has also granted underwriters a 30-day option to purchase an additional 375,000 shares at the offering price. The offering is being managed by J.P. Morgan Securities and others.
Cambium Networks Corporation (Nasdaq: CMBM) announced a secondary public offering of 2,500,000 ordinary shares, sold by Vector Cambium Holdings (Cayman), L.P., a Vector Capital affiliate. Additionally, there is a 30-day option for underwriters to buy an extra 375,000 shares at the public offering price. Cambium is not selling shares and will not receive proceeds from this offering. J.P. Morgan Securities LLC is the lead book-running manager for the transaction. A registration statement for these shares has been filed and approved by the U.S. Securities and Exchange Commission.
Cambium Networks (NASDAQ: CMBM) has announced its participation in the Qualcomm Smart Cities Accelerator Program, aiming to enhance connectivity solutions for smart applications. Leveraging its Gigabit wireless fabric, Cambium will provide advanced Wi-Fi 6 and 60 GHz fixed wireless technologies to partners within the program. This initiative addresses the connectivity challenges faced by cities, such as high fiber costs and the need for reliable broadband access. The collaboration is expected to drive smart city applications and connected spaces globally.
Cambium Networks reported record revenues of $73.0 million for Q3 2020, marking an increase of 17% sequentially and 11% year-over-year. The gross margin stood at 49.4%, while net income was a record $5.6 million or $0.21 per diluted share. Adjusted EBITDA was $11.4 million (15.6% of revenues). Net cash from operating activities was $16.4 million. The company launched a new 60 GHz cnWave broadband product, enhancing its technology portfolio. For Q4 2020, Cambium expects revenues between $74.0-$78.0 million.
Cambium Networks (CMBM) announced successful deployments of its 60 GHz cnWave solution across Australia, Malaysia, Puerto Rico, the UK, and the US, enhancing multi-gigabit broadband access. The technology, utilizing Facebook Connectivity's Terragraph tech and Qualcomm's 802.11ay standard, offers reliable connectivity at lower costs compared to fiber installation. YTL Communications in Malaysia and NextLink in the US have reported effective trial results, with speeds nearing 1.8 Gbps. This deployment aims to bridge the digital divide in underserved areas, showcasing Cambium's commitment to innovative wireless solutions.
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.