Cambium Networks Corp.

Communication Equipment • Technology • Hoffman Estates, IL, United States • CMBM (NGM)

(345) 814-7600 2000 Center Drive, Hoffman Estates, IL 60192, United States

Quarter: Q4 2025 Reported: December 18, 2025 Sentiment: Negative

Cambium Networks Corporation designs, develops, and manufactures fixed wireless, fiber broadband, and enterprise networking infrastructure solutions in North America, Europe, the Middle East, Africa, the Caribbean and Latin America, and the Asia Pacific. The company offers fixed wireless and PON/XGSPON based broadband, Wi-Fi, and local area networking (LAN) switching infrastructure; and security gateway solutions for a range of applications, such as broadband access, wireless backhaul, Internet of Things (IoT), public safety communications, and Wi-Fi access for commercial use. Its fixed wireless and fiber broadband (FWB) portfolio spans point-to-point (PTP) and point-to-multi-point (PMP) architectures over multiple standards, and frequency bands, including licensed, unlicensed, and lightly licensed spectrum, and fiber products. Its enterprise portfolio comprises a range of indoor and outdoor Wi-Fi access points, indoor and hardened copper and optical based ethernet switches, and security gateway and software-defined wide area network (SD-WAN) devices. Its subscription and services portfolio includes network planning and design, and cloud or on-premises network management and control solutions delivered through subscription to cnMaestro X. It serves healthcare, education, hospitality, military communication, mining and minerals, multifamily living, national law enforcement, oil and gas, public safety, residential broadband, small business, smart cities, government, transportation and logistics, utilities and electric cooperatives, and wireless video surveillance CCTV markets. The company sells its products and services through distributors and other channel partners, such as resellers, managed service providers, and systems integrators. The company was formerly known as Vector Cambium Holdings (Cayman), Ltd. and changed its name to Cambium Networks Corporation in 2018. Cambium Networks Corporation was founded in 2011 and is headquartered in Hoffman Estates, Illinois.

Analysis Summary

Cambium Networks Corporation filed an 8-K report, which, while dated December 2025, is not an earnings call transcript and therefore does not contain Q4 2025 financial performance data. The report detailed two key developments: an update on Nasdaq listing compliance and a significant executive transition. The company received a partial compliance letter from the Nasdaq Hearings Panel, confirming it is now compliant with the Nasdaq Listing Rule 5450(a)(1) (Minimum Bid Price Rule). However, it remains non-compliant with the Nasdaq Listing Rule 5250(c)(1) (Periodic Filing Rule), indicating ongoing challenges with timely financial reporting. The Hearings Panel will maintain jurisdiction over the company until April 8, 2026, and a mandatory one-year monitoring period for the Minimum Bid Price Rule is in effect until December 12, 2026. A violation of this rule during the monitoring period would trigger a delist determination.

In an executive transition, Mitchell Cohen was appointed Interim Chief Financial Officer and principal financial officer, effective December 18, 2025. Mr. Cohen brings extensive experience from public company, private equity, and high-growth/startup environments, with a proven track record in driving transformational financial performance, increasing shareholder value, and leading complex corporate transactions, including acquisitions, divestitures, debt financing, restructuring, and liquidity management. His background includes interim CFO roles at Cerence, Redbox Entertainment, Blue Apron, and Cytodyn, highlighting his expertise in stabilizing operations and accelerating performance improvements in challenging situations. John Waldron, the acting chief financial officer, stepped down from that role but will remain with the company as a senior financial advisor. This leadership change, coupled with the ongoing Nasdaq compliance issues, suggests a strategic focus on strengthening financial operations, reporting, and overall corporate governance. The absence of Q4 2025 financial results in this filing prevents a detailed analysis of the company's operational performance, strategic initiatives, competitive positioning, or market trends.

Key Highlights

• Cambium Networks achieved compliance with Nasdaq's Minimum Bid Price Rule (5450(a)(1)).
• Company remains non-compliant with Nasdaq's Periodic Filing Rule (5250(c)(1)).
• Nasdaq Hearings Panel maintains jurisdiction until April 8, 2026.
• Mandatory one-year panel monitor for Minimum Bid Price Rule in effect until December 12, 2026.
• Mitchell Cohen appointed Interim Chief Financial Officer, effective December 18, 2025.
• John Waldron transitioned from acting CFO to senior financial advisor.

Financial Metrics

eps

YoY: N/A

revenue

N/A

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guidance

net income

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YoY: N/A

Stock Performance (90 Days)

Data through Feb 13, 2026

Layoff Events

Earnings Calls

Positive Signals

• Resolution of Nasdaq Minimum Bid Price Rule compliance.
• Appointment of Mitchell Cohen as Interim CFO, known for stabilizing operations and driving performance.
• Mr. Cohen's extensive experience in complex corporate transactions and financial leadership.
• Company's stated intent to maintain compliance with Nasdaq standards.

Risks & Concerns

— Continued non-compliance with Nasdaq Listing Rule 5250(c)(1) (Periodic Filing Rule).
— Risk of future delisting if the Minimum Bid Price Rule is violated again during the monitoring period.
— Uncertainty associated with an interim CFO appointment and the underlying reasons for the change.
— Potential for further operational or financial instability given the need for a turnaround specialist.