UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission File Number: 001-38952 CAMBIUM NETWORKS CORPORATION (Exact Name of Registrant as Specified in its Charter) Cayman Islands Not Applicable (State o ...

Financial Data and Key Metrics Changes - Cambium Networks reported revenues of $69.3 million for Q2 2022, a 12% increase sequentially but a 25% decrease year-over-year [8][33] - Non-GAAP gross margin was 48.9%, improving by 110 basis points sequentially but decreasing by 110 basis points year-over-year [35][36] - Non-GAAP net income for Q2 2022 was $5 million, or $0.18 per diluted share, compared to $12.9 million, or $0.45 per diluted share for Q2 2021 [40] - Adjusted EBITDA for Q2 2022 was $7.8 million, or 11.3% of revenues, down from $18.4 million, or 19.9% of revenues for Q2 2021 [41] Business Line Data and Key Metrics Changes - The Point-to-Multi-Point (PMP) business revenues decreased by 9% sequentially and 53% year-over-year due to sluggish demand for legacy products [12] - The Point-to-Point (PTP) business increased by 7% sequentially and 12% year-over-year due to higher shipments [13] - The enterprise business generated $24 million in revenues, a 55% sequential increase and a 31% year-over-year increase, driven by strong demand for Wi-Fi 6 solutions [14] Market Data and Key Metrics Changes - Cambium's backlog increased by 5% quarter-over-quarter and 29% year-over-year, indicating strong demand [9][33] - The company experienced strong orders in North America for enterprise Wi-Fi, with significant wins in various sectors including hospitality and federal defense [16][17][18] Company Strategy and Development Direction - Cambium is entering a new growth S-curve, anticipating accelerated growth in high-performance broadband networks over the next five years [9] - The company is focusing on expanding its enterprise solutions and enhancing its product offerings, including the upcoming 6 gigahertz products [22][49] - Cambium aims to maintain a competitive edge through affordability and performance in its product offerings, particularly in the mid-market segment [77] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about recovering revenues in Q3 2022, supported by a strong backlog and improved supply chain conditions [9][44] - The company expects continued growth in the enterprise business, projecting over 45% growth for the calendar year 2022 [10] - Management acknowledged ongoing supply chain challenges but indicated improvements are expected, particularly in the second half of 2022 [66][88] Other Important Information - Cambium's cash totaled $45.9 million as of June 30, 2022, reflecting higher earnings and improved working capital [43] - The company plans to roll out new products, including a smart antenna for the PTP business and a Network Service Edge solution for software and subscription services [25][49] Q&A Session Summary Question: What is the expected mix for the balance of the year? - Management expects the enterprise business to continue growing and anticipates stabilization in PMP revenues by late Q3 or early Q4 [54][55] Question: How do government stimulus programs RDOF and BEAD contribute to the business? - Management expects wireless awards from RDOF to come through in the first half of 2023 and anticipates BEAD funding to be released in late 2023 or early 2024 [59][60] Question: What was the linearity of revenues during the June quarter? - Revenue was heavily weighted towards the last month of the quarter due to the gradual recovery from COVID-related disruptions [64] Question: What is the confidence level for Q4 guidance? - Management expressed optimism for Q4 due to improving supply chain conditions and strong demand for new products [88][89] Question: Can you quantify the backlog? - While specific numbers were not disclosed, management indicated that backlog is higher than the previous quarter, with significant portions in the enterprise market [82]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission File Number: 001-38952 CAMBIUM NETWORKS CORPORATION (Exact Name of Registrant as Specified in its Charter) Cayman Islands Not Applicable (State or oth ...

Financial Data and Key Metrics Changes - Cambium Networks reported revenues of $61.9 million for Q1 2022, a decrease of 21% quarter-over-quarter and 30% year-over-year, primarily due to global supply constraints and Chinese lockdowns impacting shipments [34][15][36] - Non-GAAP gross margin was 47.8%, down 230 basis points year-over-year but improved by 360 basis points sequentially from Q4 2021 [36][37] - Non-GAAP net income for Q1 2022 was $300,000 or $0.01 per diluted share, compared to $11.7 million or $0.41 per diluted share for Q1 2021 [42] Business Line Data and Key Metrics Changes - Point-to-Multi-Point (PMP) business revenues decreased 16% sequentially and 46% year-over-year due to supply constraints [16] - Point-to-Point (PTP) business revenues decreased by 4% sequentially and 16% year-over-year, impacted by lower shipments for backhaul products [17] - Enterprise Wi-Fi revenues were $15.5 million, down 40% sequentially but up 28% year-over-year, indicating strong demand despite supply disruptions [18] Market Data and Key Metrics Changes - The company experienced strong demand for its enterprise solutions, particularly in the Wi-Fi segment, despite the supply chain challenges [10][11] - Backlog increased by 7% quarter-over-quarter and 10% year-over-year, indicating strong future demand [10][34] - The EMEA region showed healthy demand for enterprise business, although revenues were down due to COVID supply constraints [22] Company Strategy and Development Direction - Cambium Networks is focusing on high-performance wireless broadband technology, including 28 gigahertz 5G multi-gigabit fixed wireless products, with expectations for larger deal sizes [13][14] - The company is expanding its software and subscription services business, which is expected to enhance customer retention and recurring revenue [29] - Cambium is diversifying its manufacturing locations to reduce dependency on China and improve resilience against supply chain disruptions [106][108] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of supply chain challenges due to COVID lockdowns in China but expressed confidence in recovery and improved financial performance in the second half of 2022 [9][50] - The company anticipates revenue recovery in Q2 2022, with expectations of improved gross margins as price increases take effect [10][38] - Management remains cautiously optimistic about the second half of 2022, expecting better chip availability and operational efficiency [78][79] Other Important Information - Cambium Networks is introducing new products, including expansions to its Wi-Fi 6 portfolio, which are expected to drive future growth [26][28] - The company is trialing a new Network-as-a-Service (NaaS) solution, which has shown strong interest in initial tests [29] - Cash used in operating activities was $19.2 million for Q1 2022, reflecting a decrease in accounts payable and annual variable compensation payments [44] Q&A Session Summary Question: Can you provide insight into gross margin contributions and supply chain impacts? - Management noted that gross margin improved due to a favorable product mix and price increases, with Wi-Fi products contributing positively despite supply chain issues [60][61] Question: What is the expected contribution of the 28 gigahertz product? - Management expressed excitement about the potential of the 28 gigahertz solutions, indicating they could significantly increase deal sizes and contribute to revenue growth over the next few years [64][66] Question: How does the full-year guidance account for operations in China? - Management indicated that the full-year guidance reflects a prudent approach considering ongoing supply chain challenges, but they expect revenues to increase as the year progresses [72][74] Question: What is the expected revenue run rate for Q4? - Management anticipates a mid-80s revenue run rate for Q4, reflecting a cautious outlook based on current supply chain conditions [81][82] Question: What are the current channel inventory levels? - Management indicated that channel inventories are balanced, with some products experiencing higher inventory levels while others, particularly Wi-Fi, are in high demand [93][96]

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Presents Cambium Networks' unaudited condensed consolidated financial statements for Q1 2022, including balance sheets, statements of operations, and cash flows, with detailed notes [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $214.3 million from $232.3 million at year-end 2021, primarily due to reduced cash, while total liabilities also decreased Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Dec 31, 2021 | Mar 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash | $59,291 | $38,397 | | Receivables, net | $69,773 | $64,506 | | Inventories, net | $33,777 | $40,210 | | **Total Assets** | **$232,268** | **$214,343** | | **Liabilities & Equity** | | | | Accounts payable | $28,241 | $16,543 | | Total current liabilities | $82,140 | $64,809 | | Total liabilities | $120,131 | $101,935 | | **Total shareholders' equity** | **$112,137** | **$112,408** | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2022 revenue declined to $61.9 million from $88.5 million year-over-year, resulting in a net loss of $1.6 million and diluted EPS of ($0.06) Q1 2022 vs. Q1 2021 Statement of Operations (in thousands, except per share data) | Metric | Three Months Ended Mar 31, 2021 | Three Months Ended Mar 31, 2022 | | :--- | :--- | :--- | | Revenues | $88,515 | $61,896 | | Gross Profit | $44,170 | $29,166 | | Operating Income (Loss) | $13,403 | $(2,195) | | Net Income (Loss) | $19,860 | $(1,568) | | Diluted EPS | $0.70 | $(0.06) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased to $19.2 million in Q1 2022, leading to a $20.9 million decrease in cash to $38.4 million Q1 2022 vs. Q1 2021 Cash Flow Summary (in thousands) | Cash Flow Activity | Three Months Ended Mar 31, 2021 | Three Months Ended Mar 31, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | $(7,562) | $(19,225) | | Net cash used in investing activities | $(1,612) | $(1,782) | | Net cash (used in) provided by financing activities | $(2,092) | $104 | | **Net decrease in cash** | **$(11,290)** | **$(20,894)** | | **Cash, end of period** | **$51,182** | **$38,397** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, balance sheet components, debt, and revenue recognition, highlighting declines in Point-to-Multi-Point and North American sales - The company operates as a single operating segment and reporting unit, with its Chief Executive Officer identified as the Chief Operating Decision Maker (CODM)[92](index=92&type=chunk) Revenues by Product Category (in thousands) | Product Category | Q1 2021 | Q1 2022 | % Change | | :--- | :--- | :--- | :--- | | Point-to-Multi-Point | $57,799 | $30,926 | -46.5% | | Point-to-Point | $17,476 | $14,714 | -15.8% | | Wi-Fi | $12,123 | $15,508 | +27.9% | | Other | $1,117 | $748 | -33.0% | | **Total Revenues** | **$88,515** | **$61,896** | **-30.1%** | Revenues by Geography (in thousands) | Geography | Q1 2021 | Q1 2022 | % Change | | :--- | :--- | :--- | :--- | | North America | $54,195 | $28,321 | -47.7% | | Europe, Middle East and Africa | $18,690 | $20,332 | +8.8% | | Caribbean and Latin America | $10,515 | $5,084 | -51.7% | | Asia Pacific | $5,115 | $8,159 | +59.5% | | **Total Revenues** | **$88,515** | **$61,896** | **-30.1%** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses a 30.1% revenue decrease to $61.9 million due to supply chain issues, COVID-19, and component shortages, addressing liquidity [Trends impacting our business](index=26&type=section&id=Trends%20impacting%20our%20business) Business faces headwinds from global component shortages, increased logistics costs, China COVID-19 shutdowns, and cessation of sales in Russia - The company is constrained by global component shortages, especially semiconductor chipsets, leading to increased lead times and costs, expected to persist throughout 2022[126](index=126&type=chunk) - COVID-19 shutdowns in Shenzhen and Shanghai, China, have negatively impacted manufacturing and distribution facilities, causing delays and increased costs[130](index=130&type=chunk) - Due to the invasion of Ukraine and subsequent sanctions, the company has ceased sales of its products, services, and technology in Russia, Belarus, and certain regions of Ukraine, adversely impacting revenues[133](index=133&type=chunk) [Results of operations](index=30&type=section&id=Results%20of%20operations) Q1 2022 revenue decreased 30.1% to $61.9 million, driven by Point-to-Multi-Point and North American sales declines, leading to an operating loss Revenue Comparison (Q1 2021 vs. Q1 2022, in thousands) | Metric | Q1 2021 | Q1 2022 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | **Revenues** | **$88,515** | **$61,896** | **$(26,619)** | **-30.1%** | | Gross Profit | $44,170 | $29,166 | $(15,004) | -34.0% | | Gross Margin | 49.9% | 47.1% | - | -280 bps | - The decrease in gross margin was driven by higher production costs from component shortages and increased logistics costs, including the use of alternative shipping modes due to government shutdowns in China[158](index=158&type=chunk) - Operating expenses increased slightly, with higher payroll and share-based compensation costs mostly offset by lower variable compensation due to weaker financial performance[160](index=160&type=chunk)[161](index=161&type=chunk)[162](index=162&type=chunk) [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) Company held $38.4 million in cash as of March 31, 2022, with management confident in liquidity despite $19.2 million net cash used in operations - The company's cash balance was **$38.4 million** as of March 31, 2022[168](index=168&type=chunk) - Net cash used in operating activities for Q1 2022 was **$19.2 million**, a significant increase from $7.6 million in Q1 2021, primarily due to the net loss and unfavorable working capital changes[169](index=169&type=chunk)[172](index=172&type=chunk) - As of March 31, 2022, the company had **$30.0 million** of debt outstanding on its term loan and **$45.0 million** available under its revolving credit facility[176](index=176&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Company faces market risks from foreign currency and interest rate changes, with a 100-bps rate increase potentially adding $0.3 million to interest expense - The company is exposed to foreign currency exchange rate risk as it conducts business globally with the U.S. dollar being the primary currency for revenue contracts[182](index=182&type=chunk) - The company has **$30.0 million** of variable-rate debt outstanding; a hypothetical **100-basis point increase** in interest rates would increase annual interest expense by approximately **$0.3 million**[184](index=184&type=chunk) - The company's BofA Credit Agreement matures in 2026, after the planned cessation of LIBOR in June 2023, and the company is actively assessing the transition to a benchmark replacement rate[186](index=186&type=chunk) [Controls and Procedures](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures) Disclosure controls and procedures were effective as of March 31, 2022, with no material changes in internal control over financial reporting - Management, including the CEO and CFO, concluded that as of March 31, 2022, the company's disclosure controls and procedures were effective at a reasonable assurance level[189](index=189&type=chunk) - No changes were identified during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[190](index=190&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) No pending or threatened legal proceedings are expected to have a material adverse effect on financial condition or results of operations - Management believes it has established adequate accruals for any expected liabilities from pending legal matters and does not expect any current proceedings to have a material adverse effect on the company[194](index=194&type=chunk) [Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) Updates key risks, with heightened concerns regarding the Ukraine invasion, COVID-19 pandemic, and ongoing supply chain disruptions - The invasion of Ukraine by Russia and resulting sanctions have forced the company to stop selling products to Russia, Belarus, and certain regions of Ukraine, which will adversely impact revenues[197](index=197&type=chunk)[199](index=199&type=chunk) - The business continues to be adversely impacted by COVID-19, particularly due to government-mandated shutdowns in regions of China that affect both third-party manufacturing and logistics/warehousing operations[201](index=201&type=chunk)[202](index=202&type=chunk)[204](index=204&type=chunk) - The company is experiencing and expects to continue experiencing shortages and increased costs for third-party components, especially semiconductors, which disrupts manufacturing and the ability to fulfill sales orders[209](index=209&type=chunk)[211](index=211&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=39&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This item is reported as not applicable for the period - Not applicable[217](index=217&type=chunk) [Defaults Upon Senior Securities](index=39&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities - None[217](index=217&type=chunk) [Mine Safety Disclosures](index=39&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is reported as not applicable - Not applicable[217](index=217&type=chunk) [Other Information](index=39&type=section&id=Item%205.%20Other%20Information) The company reports no other information for the period - None[217](index=217&type=chunk) [Exhibits](index=40&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with the Form 10-Q, including employment agreements and Sarbanes-Oxley Act certifications - The report includes exhibits such as an offer letter for Andrew Bronstein, a separation agreement for Stephen Cumming, and CEO/CFO certifications pursuant to Sarbanes-Oxley Sections 302 and 906[219](index=219&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38952 CAMBIUM NETWORKS CORPORATION (Exact name of Registrant as specified in its Charter) Cayman Islands Not Applicable (State or oth ...

Cambium Networks Corporation (NASDAQ:CMBM) Q4 2021 Results Conference Call February 17, 2022 4:30 PM ET Company Participants Peter Schuman - Senior Director, IR Atul Bhatnagar - President, CEO & Director Stephen Cumming - CFO Conference Call Participants Scott Searle - ROTH Capital Samik Chatterjee - JPMorgan Rod Hall - Goldman Sachs George Notter - Jefferies Victor Chiu - Raymond James Tim Savageaux - Northland Capital Chris Howe - Barrington Research Operator Good afternoon. My name is Carmen, and I will ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission File Number: 001-38952 CAMBIUM NETWORKS CORPORATION (Exact Name of Registrant as Specified in its Charter) Cayman Islands Not Applicable (State o ...

Cambium Networks Corp (NASDAQ:CMBM) Q3 2021 Earnings Conference Call November 4, 2021 4:30 PM ET Company Participants Peter Schuman - Senior Director, IR Atul Bhatnagar - President, CEO & Director Stephen Cumming - CFO Conference Call Participants Joseph Cardoso - JPMorgan Chase & Co. Roderick Hall - Goldman Sachs Group Simon Leopold - Raymond James & Associates George Notter - Jefferies Scott Searle - ROTH Capital Partners Erik Suppiger - JMP Securities Huang Howe - Barrington Research Associates Jonathan ...

Cambium Networks Corporation (NASDAQ:CMBM) Q2 2021 Earnings Conference Call August 9, 2021 4:30 AM ET Company Participants Peter Schuman - Senior Director, Investor and Industry Analyst Relations Atul Bhatnagar - President and Chief Executive Officer Stephen Cumming - Chief Financial Officer Conference Call Participants Rod Hall - Goldman Sachs Scott Searle - ROTH Capital Simon Leopold - Raymond James George Notter - Jefferies Samik Chatterjee - JP Morgan Erik Suppiger - JMP Securities Tim Savageaux - North ...