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) announces a partnership with the City of Paris Social Action Center (CASVP) to deploy a citywide Wi-Fi solution through managed service provider Nomosphère. The project has commenced with 100 of 294 planned locations, utilizing thousands of Wi-Fi access points managed via the cnMaestro™ X platform. This initiative aims to enhance services provided by over 5,000 social workers who assist vulnerable populations, improving care through reliable connectivity for health monitoring and training.
Cambium Networks (CMBM) announced advancements in its fixed wireless solutions supporting defense and national security applications. The company highlights its ongoing contributions to communications for border security and military operations. In the first half of 2022, its technologies were selected for various defense initiatives, including naval base communications and international projects. Cambium's PTP 78700 radio received important government spectrum certification, enhancing deployment options in congested frequency bands. The company also emphasizes its robust security and performance credentials in harsh environments, further establishing its market leadership.
Cambium Networks Corporation (NASDAQ: CMBM) announced that it will report its financial results for the second quarter 2022, which ended on June 30, 2022, on August 4, 2022. A live webcast and conference call are scheduled for 4:30 p.m. ET on the same day, featuring president and CEO Atul Bhatnagar and CFO Andrew Bronstein. Investors can access the webcast on the Cambium Networks investor page. Replays of the call will be available for a limited time.
Cambium Networks (NASDAQ: CMBM) announced its cnHeat network planning software now helps fixed wireless broadband providers meet FCC Broadband Data Collection (BDC) requirements. This software is compatible with various infrastructures and is crucial for enhancing connectivity using the Citizens Broadband Radio Service (CBRS) band. The NTIA Broadband Equity, Access and Deployment (BEAD) program benefits from this tool, aiding providers in reporting and network expansion. A promotional starter kit for PMP 450 equipment is available until September 30.
Cambium Networks (CMBM) announced the delivery of Microwave Line-of-Sight radios to Advanced Technology Systems Company as part of the U.S. Army's $191 million Security Surveillance System (SSS) program. This indefinite delivery, indefinite quantity (IDIQ) contract, with an estimated completion date in 2029, enhances broadband communications infrastructure for federal security applications. Cambium's defense solutions meet stringent security requirements, ensuring robust connectivity across military and defense sectors.
Cambium Networks reported Q1 2022 revenues of $61.9 million, down 21% sequentially and 30% year-over-year, largely due to supply chain issues caused by COVID lockdowns in China. Despite this, enterprise Wi-Fi revenue rose 28% year-over-year to $15.5 million. The GAAP net loss was $1.6 million, or $0.06 per diluted share, while non-GAAP net income was $0.3 million, or $0.01 per diluted share. Looking ahead, for Q2 2022, revenues are projected to be between $65.0-$73.0 million.
Cambium Networks (CMBM) and Future Technologies Venture have partnered on a multi-year, multi-million dollar project to enhance wireless communications for a Fortune 150 oil and gas producer. The initiative aims to reduce costs by 60% while eliminating downtime. Utilizing Cambium's technology, the project includes multiple network applications, ensuring efficient oil field operations. Notably, the project reduces the timeline by 25% and minimizes operational disruptions. Completion is expected in 2023, with a focus on centralized management for improved performance.
Cambium Networks Corporation (CMBM) has released preliminary financial results for Q1 2022, projecting revenues between $61 million and $63 million, significantly lower than the previous forecast of $77.5 million to $81.5 million. This adjustment is attributed to COVID-related lockdowns in Shenzhen and Shanghai, which hindered manufacturing and distribution. Furthermore, net income is expected to fall below earlier estimates. Despite these challenges, a recovery in revenues is anticipated in Q2, supported by a 10% year-over-year increase in backlog.
Cambium Networks (CMBM) has partnered with Desert iNET to deliver high-speed tiered broadband services using its 60 GHz cnWave fixed wireless technology. This enables multi-gigabit access for residential subscribers, offering faster service delivery than traditional fiber trenching. The service boasts Gigabit download speeds and low latency, enhancing user experiences for gaming and streaming. Desert iNET is onboarding over 15 new customers weekly, demonstrating strong demand and operational efficiency. The solution leverages advanced technologies, including Terragraph meshing and cloud management, to provide reliable connectivity.
Cambium Networks (NASDAQ: CMBM) has successfully enhanced connectivity at the Villas of Holmdel, a New Jersey assisted living facility. The integration of Wi-Fi 6 access points and cnMatrix switches has resolved staffing challenges and elevated care standards amidst a nursing shortage. Managed via cnMaestro, the system offers cost-effective solutions, reducing installation costs by 33%. Independent assessments confirm Cambium's solutions outperform competitors in both performance and total cost of ownership, setting the stage for future IoT applications.