$CMBMF

Cambium Networks Corp

CIK:0001738177|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenues	$ 44,557	$ 33,742
Cost of revenues	21,906	19,131
Gross profit	22,651	14,611
Operating expenses
Research and development	7,907	9,355
Sales and marketing	7,574	8,418
General and administrative	7,996	6,305
Depreciation and amortization	345	137
Total operating expenses	23,822	24,215
Operating loss	(1,171)	(9,604)
Interest expense, net	2,049	1,971
Other expense (income), net	(225)	63
Loss before income taxes	(2,995)	(11,638)
Provision (benefit) for income taxes	408	378
Net loss	$ (3,403)	$ (12,016)
Loss per share
Basic	$ (0.12)	$ (0.42)
Diluted	$ (0.12)	$ (0.42)
Weighted-average number of shares outstanding to compute net loss per share
Basic	28,979,538	28,628,651
Diluted	28,979,538	28,628,651
Comprehensive loss
Net loss	$ (3,403)	$ (12,016)
Foreign currency translation adjustment	(524)	81
Comprehensive loss	(3,927)	(11,935)
Product
Revenues	40,241	29,127
Cost of revenues	21,057	16,912
Gross profit	19,184	12,215
Subscriptions and services
Revenues	4,316	4,615
Cost of revenues	849	2,219
Gross profit	$ 3,467	$ 2,396

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net loss	$ (3,403)	$ (12,016)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	308	118
Amortization of software and intangible assets	753	890
Amortization of deferred debt issuance costs	73	30
Share-based compensation	1,274	2,077
Provision for inventory excess and obsolescence	(458)	(1,436)
Provision for estimated credit losses	(269)	(27)
Other	(117)	(58)
Change in assets and liabilities:
Receivables	(9,454)	7,013
Inventories	2,107	5,885
Prepaid expenses	(1,674)	(756)
Income taxes receivable	715	363
Accounts payable	2,872	(3,486)
Accrued employee compensation	260	(777)
Accrued liabilities	2,184	1,594
Other assets and liabilities	371	(4,237)
Net cash used in operating activities	(4,378)	(4,823)
Cash flows from investing activities:
Purchases of property and equipment	(69)	(217)
Purchases of software	(703)	(1,434)
Net cash used in investing activities	(772)	(1,651)
Cash flows from financing activities:
Repayment of term loan	0	(656)
Taxes paid from shares withheld	(13)	(8)
Net cash used in financing activities	(13)	(664)
Effect of exchange rate on cash	(35)	21
Net increase (decrease) in cash	(5,198)	(7,117)
Cash, beginning of period	11,331	34,925
Cash and restricted cash, end of period	6,133	27,808
Supplemental disclosure of cash flow information:
Income taxes paid, net of refunds received	(227)	(2)
Interest paid	0	1,910
Non-cash investing and financing activities:
Decrease in property, equipment and software unpaid or accrued in liabilities	26	(3)
Reconciliation of Cash and restricted cash at end of period:
Cash	5,858	27,808
Restricted cash	275	0
Total cash and restricted cash	$ 6,133	$ 27,808

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets
Cash	$ 5,858	$ 11,056
Receivables, net of allowance for credit losses of $3,402 and $3,133	49,603	40,275
Inventories, net	25,874	27,523
Income taxes receivable	59	774
Prepaid expenses	9,242	7,572
Other current assets	3,559	3,507
Total current assets	94,195	90,707
Noncurrent assets
Property and equipment, net	3,203	3,446
Software, net	14,346	14,375
Operating lease right-of-use assets	5,306	5,650
Goodwill	874	874
Restricted cash	275	275
Other noncurrent assets	20,246	21,814
TOTAL ASSETS	138,445	137,141
Current liabilities
Accounts payable	20,747	17,849
Accrued liabilities	36,061	34,281
Employee compensation	3,099	2,814
Current portion of long-term debt, net	66,407	66,383
Deferred revenues	8,951	9,173
Other current liabilities	6,643	6,853
Total current liabilities	141,908	137,353
Noncurrent liabilities
Deferred revenues	13,302	12,812
Noncurrent operating lease liabilities	8,528	8,785
Deferred tax liabilities, net	1,840	1,760
Other noncurrent liabilities	11,481	12,379
Total liabilities	177,059	173,089
Commitments and contingencies (Note 11)
Shareholders' deficit
Share capital; $0.0001 par value; 500,000,000 shares authorized at December 31, 2025 and March 31, 2026; 29,353,526 shares issued and 28,943,114 outstanding at December 31, 2025 and 29,428,723 shares issued and 29,008,741 outstanding at March 31, 2026	3	3
Additional paid in capital	171,070	169,796
Treasury shares, at cost, 410,412 shares at December 31, 2025 and 419,982 shares at March 31, 2026	(5,766)	(5,753)
Accumulated deficit	(200,796)	(197,393)
Accumulated other comprehensive loss	(3,125)	(2,601)
Total shareholders' deficit	(38,614)	(35,948)
TOTAL LIABILITIES AND DEFICIT	$ 138,445	$ 137,141