Cambium Networks Corp (CMBMF): restructuring charge — Cambium Networks Q3 revenue down 47% YoY to $43M; GAAP net loss $0.95/share; initiates restructuring

Fourth Quarter 2023 Financial Outlook Taking into account our current visibility, the financial outlook as of November 2, 2023, for the fourth quarter ending December 31, 2023, is expected to be as follows: • Revenues between $45.0-$50.0 million • GAAP gross margin between 36.3%-43.3%

Cambium Networks Reports Third Quarter 2023 Financial Results • Revenues of $43.0 million, decreased 28% sequentially, and decreased 47% year-over-year • Gross margin of 25.5%, non-GAAP (1) gross margin of 27.7% • Operating loss of $22.1 million, non-GAAP (1) operating loss of $15.5 million • Net loss of $26.2 million or a loss of $0.95 per diluted share, non-GAAP (1) net loss of $12.1 million or a loss of $0.44 per diluted share • Adjusted EBITDA (1) loss of $14.4 million or (33.5)% of revenues

The Company expects to incur an additional approximately $1.5-$2.5 million in costs, primarily related to one-time termination benefits, which is expected to be substantially complete and costs incurred by the end of the second quarter of 2024, with all costs incurred expected by the end of 2024.