Cambium Announces Preliminary First Quarter 2022 Revenue and Reporting Date – Form 8-K


Cambium Networks Corporation Announces Preliminary First Quarter 2022 Revenues and Closing Date

ROLLING MEADOWS, Ill., April 13, 2022 – Cambium Networks Corporation (“Cambium Networks”) (NASDAQ: CMBM), a leading provider of wireless network infrastructure solutions, today announced certain preliminary financial results for the first quarter of 2022 ended March 31, 2022 and expects to release its full financial results on Thursday, May 5, 2022.

Cambium Networks now expects GAAP revenue to be between $61 million and $63 million compared to the previous outlook of $77.5 million to $81.5 million provided on February 17, 2022. The change in outlook primarily reflects the consequence of two unexpected events in during the first quarter of 2022. A Chinese government lockdown in Shenzhen following rising COVID cases impacted manufacturing in mid-March. Additionally, during the last two weeks of the quarter, a lockdown in Shanghai closed our distribution and warehousing facilities. Without the supply and distribution constraints, Cambium Networks would have been at or above the high end of the Q1 2022 revenue outlook provided on February 17, 2022. Net income is expected to be below the low of previous GAAP. and non-GAAP ranges. Cash is expected to be approximately $38 million. We expect some revenue recovery in the second quarter of 2022, pending the reversal of previous lockdowns and no additional COVID lockdowns, given a larger order backlog, up 10% year-on-year ‘other.

Conference call and webcast

Cambium Networks will host a live webcast and conference call to discuss its financial results and Q&A at 4:30 p.m. ET on May 5, 2022. Atul Bhatnagar, President and Chief Executive Officer, and Andrew Bronstein, Chief Financial Officer, will participate in the call. The call will be moderated by Peter Schuman, Senior Director of Investor Relations and Industry Analysts.

To participate in the live webcast of financial results and view additional materials that may be posted on the Investors website, listeners should access the Investors page of the Cambium Networks website /. Following the live webcast, a replay will be available in the event archive at the same web address for a period of one year.

To access the live conference call by telephone, listeners should dial +1(877) 288-4394 in the United States or Canada and +1(470) 495-9483 for international callers, referring to conference ID number 4383975. To join the live webcast and to view additional materials, listeners should access the Investors page of the Cambium Networks website at /. Following the live webcast, a replay will be available on the investor page of the Cambium Networks website for one year. A replay of the conference call will be available for 48 hours shortly after the call by dialing +1(855) 859-2056 in the United States or Canada and +1(404) 537-3406 for international callers , using conference ID number 4383975.

About Cambium Networks

Cambium Networks provides wireless communications that work for businesses, communities and cities around the world. Millions of our radios are deployed to connect people, places and things with a unified wireless fabric that spans multiple fixed wireless and Wi-Fi standards and frequencies, all centrally managed through the cloud. Our multi-gigabit wireless fabric offers a compelling value proposition over traditional fiber optic and alternative wireless solutions. We work with our Cambium-certified ConnectedPartners to deliver purpose-built networks for service provider, enterprise, industrial, and government connectivity solutions in urban, suburban, and rural environments, with wireless that works.

Caution Regarding Forward-Looking Statements

This release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding our expected revenues, net income and cash for the next quarter. All statements other than statements of historical facts contained herein, including statements regarding our future results of operations and financial condition, our business strategy, and our management plans and objectives for future operations, are forward-looking statements. . These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

In some instances, you can identify forward-looking statements by words such as “may”, “should”, “expect”, “plan”, “anticipate”, “could”, “intend”. of”, “target”, “projects”, “”intends”, “believes”, “estimates”, “predicts”, “potential” or “continues” or the negative form of these terms or other similar expressions. forward-looking statements contained herein are only predictions. We have based these forward-looking statements largely on our current expectations and projections regarding future events and financial trends that we believe may affect our business, financial condition and results. These forward-looking statements speak only as of the date of this document and are subject to a number of risks, uncertainties and assumptions, including those described in the “Risk Factors” section of our 2021 annual report on form e 10-K filed with securities. and Exchange Commission on February 24, 2022. Because forward-looking statements are inherently subject to risks

and uncertainties, some of which cannot be predicted or quantified, you should not rely on these forward-looking statements as predictions of future events. Events and circumstances reflected in our forward-looking statements may not materialize or occur and actual results could differ materially from those projected in the forward-looking statements. Some of the key factors that could cause actual results to differ from our expectations include: the unpredictability of our operating results; the impact of the global shortage of certain components including semiconductor chipsets; the constraint of global shipping and logistics; risks presented by the global COVID-19 pandemic, which could significantly disrupt our manufacturing, sales and other operations and adversely impact our financial results; our inability to anticipate and respond to emerging technology trends and the changing needs of network operators; the impact of tensions between Russia and Ukraine, which could disrupt our sales and product design activities in the region; our reliance on third-party manufacturers, which exposes us to risks of product delivery delays and reduced control over product costs and quality; our reliance on distributors and value-added resellers for the vast majority of our sales; the inability of our third-party logistics and warehousing providers to deliver products to our distribution partners and network operators in a timely manner; the quality of our support and service offerings; our or our distributors’ and channel partners’ inability to attract new network operators or sell additional products to network operators who currently use our products; the technological complexity of our products, which may contain hardware defects or undetected software bugs; the inability of our channel partners to effectively manage our product inventory, resell our products on a timely basis or estimate expected future demand; our inability to manage our growth and expand our operations; unpredictability of sales and revenues due to long sales cycles; our inability to maintain an effective system of internal controls, to produce accurate and timely financial statements or to comply with applicable regulations; our dependence on the availability of third-party licenses; risks associated with international sales and operations; current or future adverse economic conditions, both in domestic and foreign markets, and political tensions between the United States and China; and our inability to obtain intellectual property protections for our products.

Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of new information, future events or otherwise.



Peter Schuman, CRI

Senior Director of Investor Relations and Industry Analysts

Cambium Networks

+1 (847) 264-2188

[email protected]


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