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Wednesday, Aug 17, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

Cambium Networks completes first delivery in government contract

Cambium Networks is involved in the wireless communication game, serving businesses, communities and cities across the world.

Cambium
Photo by Mika Baumeister on Unsplash

Cambium Networks (NASDAQ:CMBM) announced the delivery of its first order of Microwave Line-of-Sight radios to Advanced Technology Systems Company (ATSC) as part of the SSS program.

ATSC is the primary contractor for the $191 million indefinite delivery, indefinite quantity (IDIQ) contract for the United States Army’s SSS program. The single contract ends in 2029.

“Federal security surveillance systems demand the best available performance and must include the most stringent security and rugged capabilities. Cambium Networks’ defense portfolio fully meets or exceeds these requirements. We are proud to contribute to another strong national defense communications program,” said Bryan Sheppeck, senior vice president of global sales for Cambium Networks.

Cambium Networks is involved in the wireless communication game, serving businesses, communities and cities across the world. Millions of its radios are regularly sent to connect people and places with a unified wireless fabric covering multiple standards and frequencies of both fixed wireless and Wi-Fi, all of which is managed by the cloud.

More specifically, Cambium’s cnMaestro cloud management system, a simple and sophisticated network management solution, which offers elastic scalability and transparent management options to deliver a secure network and wireless lifecycle management with zero-touch provisioning, monitoring and troubleshooting.

Cambium’s Q2 highlights at a glance:

  • Revenues between $65.0-$73.0 million
  • GAAP gross margin between 46.9%-47.9%; and non-GAAP gross margin between 47.5%-48.5%
  • GAAP operating expenses between $33.3-$34.3 million; and non-GAAP operating expenses between $29.7-$30.7 million
  • GAAP operating (loss) income between ($2.75)-$0.7 million; and non-GAAP operating income between $1.2-$4.7 million
  • Interest expense, net of approximately $0.7 million
  • GAAP net (loss) income between ($2.8)-$0.0 million or between ($0.10) and $0.00 per diluted share; and non-GAAP net income between $0.4-$3.2 million or between $0.01 and $0.11 per diluted share
  • Adjusted EBITDA between $2.2-$5.8 million; and adjusted EBITDA margin between 3.4%-7.9%
  • GAAP and non-GAAP effective tax rate of approximately 18.0%-20.0%
  • Approximately 28.7 million weighted average diluted shares outstanding

This is one of the many companies empowering the smart-city initiative, providing the wireless (and wired) connectivity. Cambium’s multi-gigabit wireless fabric offers a curious and compelling value proposition over traditional fibre and alternative wireless solutions, and the company uses their own Cambium certified ConnectedPartners to deliver networks for service provider, enterprise, industrial and government connectivity solutions in urban, suburban and rural environments.

Shares dipped $0.52 and closed at $14.80.

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