Financial Analysis

"Note 14. Commitments and contingencies The Company recognizes the fair value for guarantee and indemnification arrangements it issues or modifies, if these arrangements are within the scope of authoritative accounting guidance. In addition, the Company must continue to monitor the conditions that are subject to the guarantees and indemnifications in order to identify if a loss has been incurred. If the Company determines it is probable that a loss has occurred, then any such estimated loss would be recognized under those guarantees and indemnifications and would be recognized in the Companys consolidated statements of operations and corresponding consolidated balance sheets during that period. Amended credit agreement Our Amended Credit Agreement contains customary provisions with respect to the consequences of a Default or Event of Default as defined therein, including a restriction on the ability to access further borrowings as well as other customary rights and remedies available to the lender upon a Default or Event of Default. These include the ability to impose a default rate interest rate, prohibiting us from reinvesting asset sale proceeds, limiting repayment of intercompany debt and investment in non-loan party subsidiaries, limiting acquisitions, certain asset sales and assumption of indebtedness, and acceleration of the outstanding obligations and exercise of other remedies under the Amended Credit Agreement, among other customary restrictions. Purchase commitment …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Note 7. Debt As of December 31, 2024 , the Company had $ 22.8 million outstanding under its term loan facility and $ 45.0 million in borrowings under its revolving credit facility. The Company has no available borrowing capacity under its revolving credit facility. As of December 31, 2023 , the Company had $ 25.4 million outstanding under its term loan facility and $ 0.0 million in borrowings under its revolving credit facility. The Company had available $ 45.0 million under its revolving credit facility. The following table reflects the current and noncurrent portions of the debt facilities at December 31, 2023 and December 31, 2024 (in thousands): December 31, December 31, 2023 2024 Term loan facility $ 25,406 $ 22,781 Revolving credit facility 45,000 Less: debt issuance costs on term loan facility ( 294 ) ( 142 ) Total debt, net 25,112 67,639 Less: current portion of long-term debt ( 3,281 ) ( 67,639 ) Current portion of debt issuance costs 95 Total long-term debt, net $ 21,926 $ Secured credit agreements On December 29, 2023, the Company entered into the Second Amendment to Credit Agreement (the Second Amendment), which amended the credit agreement, dated as of November 17, 2021 (the Credit Agreement, the Credit Agreement as amended, the Existing Credit Agreement, and the Existing Credit Agreement, as amended by the Second Amendment, the Amended Credit Agreement) by and among, inter alios , Cambium Networks, Ltd. as the borrower (the Borrower), the Company as a guarantor, …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Note 6. Goodwill and intangible assets The changes in the carrying amount of goodwill for the years ended December 31, 2023 and 2024 were as follows: December 31, December 31, 2023 2024 Beginning balance $ 9,842 $ 9,842 Goodwill impairment ( 8,968 ) Ending balance $ 9,842 $ 874 The Company tests goodwill for impairment annually on December 31 and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit or asset group below its carrying amount and tests intangible assets if an indicator suggests that the carrying amount may not be recoverable. For 2023, the Company completed a qualitative triggering events assessment which considered significant events and circumstances such as the reporting units historical and current results, assumptions regarding future performance, operating income or cash flows, strategic initiatives and overall economic factors, including significant negative industry or economic trends and macro-economic developments, and sustained declines in the Company's share price or market capitalization. These factors were considered in both absolute terms and relative to peers, to determine whether any of these factors may indicate that it is more likely than not that the fair value of the reporting unit or intangible asset is less than its carrying value. If indicators of impairment are identified, a quantitative impairment test is performed. The qualitative assessments performed for 2 …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Note 13. Income taxes For the years ended December 31, 2023 and 2024, income (loss) before income taxes includes the following components (in thousands): Years ended December 31, 2023 2024 (Restated) United States $ 4,187 $ ( 8,245 ) Foreign ( 60,799 ) ( 68,061 ) Loss before income taxes $ ( 56,612 ) $ ( 76,306 ) For the years ended December 31, 2023 and 2024, the provision for income taxes consists of the following (in thousands): Years ended December 31, 2023 2024 (Restated) Current: U.S. federal $ 3,647 $ ( 3,801 ) State 154 ( 478 ) Foreign 885 917 Current tax provision (benefit) 4,686 ( 3,362 ) Deferred: U.S. federal $ 5,820 $ State 844 Foreign 6,118 1,508 Deferred tax provision 12,782 1,508 Provision (benefit) for income taxes $ 17,468 $ ( 1,854 ) In applying the statutory tax rate in the effective income tax rate reconciliation, the Company used the statutory U.S. federal income tax rate of 21 % rather than the Cayman Islands zero percent rate. The table below reconciles the Company's tax (benefit) provision for income taxes based on the statutory U.S. federal income tax rate to its effective tax rate for the years ended December 31, 2023 and 2024 (in thousands): Years ended December 31, 2023 2024 (Restated) Income tax benefit at federal statutory rate $ ( 11,889 ) $ ( 16,024 ) State and local income taxes, net of federal benefit on current year earnings 154 68 Tax rate changes ( 1,255 ) Valuation allowance changes 37,283 12,345 Foreign rate differential ( 1,665 ) ( 2,4 …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Note 16. Leases The Company has operating leases for offices, vehicles, and office equipment. Leases with a term of 12 months or less are not recorded on the consolidated balance sheets, and are expensed on a straight-line basis over the lease term. Right-of-use (ROU) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The Companys lease payments are typically fixed or contain fixed escalators. The Companys leases typically include certain lock-in periods and renewal options to extend the lease, but when determining the lease term, the Company does not consider options to extend a lease it is not reasonably certain to exercise. The Company elected the practical expedient to not separate the lease and non-lease components of its leases and currently has no leases with options to purchase the leased property. The components of lease expense were as follows (in thousands): Years Ended December 31, 2023 2024 Operating lease cost $ 2,503 $ 2,315 Short-term lease cost 387 301 Variable lease costs 726 733 Total lease expense $ 3,616 $ 3,349 Supplemental balance sheet information related to leases were as follows (in thousands, except lease term and discount rate): Balance Sheet Caption December 31, 2023 December 31, 2024 Operating leases: Operating lease assets Operating lease assets $ 7,894 $ 6,254 Current lease liabilities Other current liabilities $ 1,531 $ 1,232 Noncur …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"Recently adopted accounting standards In November 2023, the Financial Accounting Standards Board (""FASB"") issued Accounting Standards Update (""ASU"") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendment requires disclosures of significant segment expenses that are regularly provided to the chief operating decision maker (""CODM"") and included within each reported measure of segment profit of loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment's profit or loss and assets. The new guidance also requires that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this update and all existing segment disclosures. The Company adopted ASU 2023-07 during the year ended December 31, 2024. See Note 12. Segment information in the accompanying notes to the consolidated financial statements for further detail. Recently issued accounting standards not yet adopted In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to disclose standard categories in the tax rate reconciliation, additional information for reconciling items that meet a quantitative threshold and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Adoption of thi …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Note 8. Employee benefit plans The Companys significant employee benefit plans currently consist of a defined contribution plan in the United States and a separate defined contribution plan in the UK. The Company does not offer any other elective postretirement benefit plans, such as retiree medical and dental benefits or deferred compensation agreements to its employees or officers. U.S. plan U.S. regular, full-time employees are eligible to participate in the Cambium Networks, Inc. 401(k) Plan, which is a qualified defined contribution plan under section 401(k) of the Internal Revenue Service Code. Under the Cambium Networks, Inc. 401(k) Plan, the Company contributes a dollar-for-dollar match of the first 4 % an employee contributes to the plan. Employees are eligible to participate on the first day of the month following their date of hire and begin receiving company contributions three-months after they become eligible to participate in the plan. Company matching contributions are made each pay period, but the funds do not vest until the employees second anniversary of employment with the Company. Employees are always fully vested in their own contributions. All contributions, including the Company match, are made in cash and invested in accordance with the participants investment elections. Contributions made by the Company under the Cambium Networks, Inc. 401(k) Plan were $ 1.4 million and $ 0.8 million for the years ended December 31, 2023 and 2024, respectively. UK pl …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Note 17. Related party transactions A party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal. For the years ended December 31, 2023 and 2024 , Vector Capital Management, LP charged $ 0.6 million and $ 0.1 million for professional services fees and reimbursement of expenses. The amount due to Vector Capital Management, LP at December 31, 2023 was $ 3 thousand and was included in Accounts payable in the Company's consolidated balance sheets. No amount was due to Vector Capital Management, LP at December 31, 2024.

RelatedPartyTransactionsDisclosureTextBlock

Note 18. Restructuring In 2023, the Company announced and initiated two corporate cost reductions plans, the first in August 2023 and the second in November 2023, to better align Cambium's cost structure with current economic conditions and position the Company to achieve near-term and long-term targets to maintain profitability, improve cash flow and maintain a strong balance sheet. Under the August 2023 restructuring plan, the Company expected and incurred $ 1.0 million of costs in the three-month period ended September 30, 2023. These costs were all paid by December 31, 2023, and the restructuring plan was completed. Under the November 2023 restructuring plan, the Company expected to incur between $ 1.5 - $ 2.5 million of costs, consisting mostly of one-time involuntary employee termination costs. Cost reductions under the November 2023 plan began in the fourth quarter of 2023 and were completed during 2024, and all costs have been incurred by the end of 2024. For the year ended December 31, 2023, the Company incurred $ 1.2 million of costs, of which $ 0.8 million was paid by December 31, 2023. As of December 31, 2023, the Company had a restructuring liability of $ 0.4 million which was included in Accrued liabilities on the Company's consolidated balance sheet. During the year ended December 31, 2024, the Company incurred additional restructuring charges under the November 2023 plan of approximately $ 1.1 million, which are included in cost of revenues and all operating e …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Note 15. Revenue from contracts with customers Disaggregation of revenues Revenues by product category were as follows (in thousands, except percentages): Year Ended December 31, 2023 2024 (Restated) Point-to-Multi-Point $ 95,816 42 % $ 73,469 42 % Point-to-Point 81,470 36 % 48,195 27 % Enterprise 44,377 20 % 50,282 28 % Other 5,104 2 % 5,340 3 % Total Revenues $ 226,767 100 % $ 177,286 100 % The Companys products are predominately distributed through a third-party logistics provider in the United States, Netherlands and Vietnam. The Company has determined the geographical distribution of product revenues based upon the ship-to destinations. Revenue by geography were as follows (in thousands, except percentages): Year Ended December 31, 2023 2024 (Restated) North America $ 138,927 62 % $ 86,914 49 % Europe, Middle East and Africa 43,647 19 % 50,956 29 % Caribbean and Latin America 20,667 9 % 20,527 11 % Asia Pacific 23,526 10 % 18,889 11 % Total Revenues $ 226,767 100 % $ 177,286 100 % The following country had revenues greater than 10% of total revenues: United States - $ 136.7 million for 2023 (Restated) and $ 88.6 million for 2024 Customers with an accounts receivable balance of 10% or greater of total accounts receivable and customers with net revenues of 10% or greater of total revenues are presented below for the periods indicated: Percentage of Revenues Percentage of Accounts Receivable Years Ended December 31, As of December 31, 2023 2024 2023 2024 (Restated) (Restate …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"Note 12. Segment Information The Company operates in a single reportable operating segment providing fixed wireless broadband and Wi-Fi networking infrastructure solutions. This segment generates revenue primarily from the sale of hardware products, but also includes revenues from software products, extended warranty and subscription services. The accounting policies for this segment are the same as those described in Note 1. Summary of significant accounting policies. In its operation of the business, management, including our chief operating decision maker (""CODM""), who is also our Chief Executive Officer (""CEO"") , reviews financial information regularly at the consolidated level. Net income (loss) is used as the metric for purposes of allocating resources and evaluating performance. The CODM monitors forecast versus actual net income (loss) for purposes of determining the general health of the Company and assessing the performance of the Company as compared to management's expectations. The Company does not have any intra-entity sales or transfers. Significant expenses reviewed by the CODM include those that are presented in the consolidated statements of operations and comprehensive loss. See Note 15. Revenues from contracts with customers for additional information about the Company's revenues by product category and geography. As the Company operates solely within one segment, total assets, property and equipment, net and software, net are reported at the consolida …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"Note 10. Shareholders' equity Ordinary Shares As of December 31, 2023 and December 31, 2024 , the Company's articles of association authorized the Company to issue up to 500,000,000 ordinary shares. Each holder of the Company's ordinary shares is entitled to one vote for each share on all matters submitted to a vote of the shareholders, including the election of directors. As of December 31, 2024 , no dividends have been declared or paid. 2019 Share incentive plan In June 2019, the Companys Board of Directors adopted, and its shareholders approved, the 2019 Share Incentive Plan (2019 Plan). The 2019 Plan provides for the grant of incentive share options, nonqualified share options, share appreciation rights, restricted share awards (RSAs), restricted share units (RSUs), other share-based awards and performance awards. The share reserve under the 2019 Plan will be automatically increased on the first day of each fiscal year, beginning with the fiscal year ended December 31, 2020 and will continue until, and including, the fiscal year ending December 31, 2029. The number of shares added annually will be equal to the lowest of 1,320,000 shares, 5 % of the number of the Companys shares outstanding on the first day of such fiscal year, or an amount determined by the Board of Directors. On March 1, 2023, the Company registered 1,320,000 additional shares that may be issued under the 2019 plan. On March 18, 2024 the Company registered 1,320,000 additional shares that may be issued …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

"Note 20. Subsequent events Corporate Restructuring On February 24, 2025 , the Company approved a corporate restructuring plan designed to reduce operating costs including a reduction in the Company's workforce and other cost savings initiatives. The decision to execute the plan was made to better align Cambium's cost structure and business activities with the weaker market demand it has been experiencing and to take active measures to accelerate its margin recovery. Through December 31, 2025, the Company incurred charges under the plan, mostly for severance payments of $ 1.8 million. Through December 31, 2025, the Company paid all $ 1.8 million. Credit Agreement Default The Company continues to be out of compliance with financial and other covenants under the Amended Credit Agreement with Bank of America, and such defaults continued through 2025 and are expected to continue through 2026. In addition, the Company ceased payment of required quarterly principal and periodic interest on the term loan facility and quarterly interest on the revolving credit facility as of June 2025, providing an additional payment default under the Amended Credit Agreement. Although such defaults afford the lender the right to declare the amounts outstanding immediately due and payable, the Company continues to have regular discussions with the lender. If the lender were to accelerate the maturity of the Company's indebtedness under the Amended Credit Agreement, the Company would not be able to re …

SubsequentEventsTextBlock · excerpt; the full note is in the filing

Note 12. Commitments and contingencies In accordance with ASC 460, Guarantees , the Company recognizes the fair value for guarantee and indemnification arrangements it issues or modifies, if these arrangements are within the scope of authoritative accounting guidance. In addition, the Company must continue to monitor the conditions that are subject to the guarantees and indemnifications in order to identify if a loss has been incurred. If the Company determines it is probable that a loss has occurred, then any such estimated loss would be recognized under those guarantees and indemnifications and would be recognized in the Companys consolidated statements of operations and comprehensive loss and corresponding consolidated balance sheets during that period. Amended credit agreement Our Amended Credit Agreement contains customary provisions with respect to the consequences of a Default or Event of Default as defined therein, including a restriction on the ability to access further borrowings as well as other customary rights and remedies available to the lender upon a Default or Event of Default. These include the ability to impose a default rate interest rate, prohibiting us from reinvesting asset sale proceeds, limiting repayment of intercompany debt and investment in non-loan party subsidiaries, limiting acquisitions, certain asset sales and assumption of indebtedness, and acceleration of the outstanding obligations and exercise of other remedies under the Amended Credit Agr …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Note 7 . Debt At September 30, 2025, the Company had $ 21.5 million outstanding under its term loan facility and $ 45.0 million outstanding under its revolving credit facility. As of September 30, 2025 , the Company had no availability left under its revolving credit facility (unaudited). The following table reflects the breakdown of the term loan and revolving credit facilities at December 31, 2024 and September 30, 2025 (in thousands): December 31, September 30, 2024 2025 (unaudited) Term loan facility $ 22,781 $ 21,469 Revolving credit facility 45,000 45,000 Less: debt issuance costs on term loan facility ( 142 ) ( 109 ) Total debt, net 67,639 66,360 Less: Current portion of long-term debt, net ( 67,639 ) ( 66,360 ) Total long-term debt, net $ $ As of December 31, 2024 , the effective interest rate on the term loan facility was 10.24 %. As of September 30, 2025 , the effective interest rate on the term loan facility was 10.19 % (unaudited) . As of December 31, 2024 , the weighted-average interest rate for borrowings outstanding under the revolving credit facility was 8.73 %. As of September 30, 2025 , the weighted-average interest rate for borrowings outstanding under the revolving credit facility was 9.61 % (unaudited). In addition to the interest charged on the term loan facility and the revolving credit facility, as a result of the covenant violation, t he bank converted the term loan and revolving credit facilities to Base Rate loans on the default date and has imposed …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Note 6 . Goodwill and intangible assets There was no change in the carrying amount of goodwill or intangible assets during the three-month period ended September 30, 2025 (unaudited). The Company tests goodwill for impairment annually on December 31 and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit or asset group below its carrying amount and tests intangible assets if an indicator suggests that the carrying amount may not be recoverable. Accordingly, the Company completes a quarterly qualitative triggering events assessment which considers significant events and circumstances such as a reporting units historical and current results, assumptions regarding future performance, operating income or cash flows, strategic initiatives and overall economic factors, including significant negative industry or economic trends and macro-economic developments, and sustained declines in the Company's share price or market capitalization, considered in both absolute terms and relative to peers, to determine whether any of these may indicate that it is more likely than not that the fair value of the reporting unit is less than its carrying value. During the third quarter of 2024, the Company experienced a debt covenant breach and a decline in its market capitalization as a result of a sustained decrease in the trading price of the Company's ordinary shares, each of which represented a triggering event caus …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Note 11. Income taxes Due to forecasting uncertainty for 2024 and 2025, the Company's provision for income taxes at September 30, 2024 and September 30, 2025 is based on the three-month and nine-month actual results. The Company recorded a provision for income taxes of $ 1.7 million for the three-month period ended September 30, 2024 and a provision for income taxes of $ 0.3 million for the three-month period ended September 30, 2025 , with an effective tax rate of ( 5.2 )% and ( 4.2 )%, respectively. For the three-month period ended September 30, 2024 , the Company's effective tax rate of ( 5.2 )% was different from the statutory rate of 21.0 %, primarily due to a prior year tax adjustment due to the filing of the U.S. tax return. For the three-month period ended September 30, 2025 , the Companys effective tax rate of ( 4.2 )% was different from the statutory rate of 21.0 %, primarily due to an increase in the valuation allowance on the net deferred tax assets of the Company, maintaining a full valuation allowance on the net deferred tax assets. The Company recorded a provision for income taxes of $ 4.2 million for the nine-month period ended September 30, 2024 and a provision for income taxes of $ 1.0 million for the nine-month period ended September 30, 2025 , with an effective tax rate of ( 6.7 )% and ( 3.4 )%, respectively. For the nine-month period ended September 30, 2024 , the Company's effective tax rate of ( 6.7 )% was different from the statutory rate of 21.0 %, pr …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

"Recently issued accounting standards not yet adopted In December 2023, the Financial Accounting Standards Board (""FASB"") issued Accounting Standards Update (""ASU"") 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires public entities, on an annual basis, to disclose standard categories in the tax rate reconciliation, additional information for reconciling items that meet a quantitative threshold and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Adoption of this ASU should be applied prospectively, but may be applied retrospectively to all prior periods presented in the financial statements. The Company plans to adopt this ASU on a prospective basis during the year ended December 31, 2025. The adoption of this standard will not have a material impact on the Company's consolidated financial statements, but will result in incremental income tax disclosures. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the Securities and Exchange Commission's (""SEC"") Disclosure Update and Simplification Initiative . The amendments in this update require modification of certain disclosure and presentation requirements for a variety of ASU topics in response to the SEC's Release No. 33-10532. The effective date for each amended topic in the ASU is the date on which the SEC's removal of the related disclosure req …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Note 8 . Employee benefit plans The Companys significant employee benefit plans currently consist of a defined contribution plan in the United States and a separate defined contribution plan in the UK. The Company does not offer any other elective postretirement benefit plans, such as retiree medical and dental benefits or deferred compensation agreements to its employees or officers. U.S. plan U.S. regular, full-time employees are eligible to participate in the Cambium Networks, Inc. 401(k) Plan, which is a qualified defined contribution plan under section 401(k) of the Internal Revenue Service Code. Under the Cambium Networks, Inc. 401(k) Plan, the Company contributes a dollar-for-dollar match of the first 4 % an employee contributes to the plan. Employees are eligible to participate on the first day of the month following their date of hire and begin receiving company contributions three months after they become eligible to participate in the plan. Company matching contributions are made each pay period, but the funds to not vest until the employee's second anniversary of employment with the Company. Employees are always fully vested in their own contributions. All contributions, including the Company match, are made in cash and invested in accordance with the participants' investment elections. Contributions made by the Company under the Cambium Networks, Inc. 401(k) Plan were $ 0.3 million and $ 0.2 mill ion for the three-month periods ended September 30, 2024 and 2025 , …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Note 15. Related party transactions A party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal. For the three-month and nine-month periods ended September 30, 2024 and 2025 , the Company did no t have any material related party transactions to disclose (unaudited).

RelatedPartyTransactionsDisclosureTextBlock

Note 16. Restructuring In 2023, the Company initiated two corporate cost reductions plans, the first in August 2023 and the second in November 2023, to better align Cambium's cost structure with current economic conditions and position the Company to achieve near-term and long-term targets to maintain profitability, improve cash flow and maintain a strong balance sheet. The cost reductions include a reduction in the Company's workforce and primarily include one-time termination costs. All costs under these 2023 plans were recognized by December 31, 2024 and reductions under these plans are complete. As of December 31, 2024, the Company had a restructuring liability of $ 0.1 million related to the November 2023 restructuring, which was included in Accrued liabilities in the Company's consolidated balance sheet and was paid in the first quarter of 2025. On February 24, 2025, the Company announced and initiated another cost reduction plan. During the three-month period ended September 30, 2025 , the Company incurred additional restructuring charges under the February 2025 plan related to one-time termination costs of approximately $ 30 thousand which is included in cost of revenues and all operating expense lines in the Company's consolidated statements of operations and comprehensive loss. Through September 30, 2025 , the Company paid $ 1.9 million, which consists of the $ 0.1 million outstanding at December 31, 2024 plus an additional $ 1.8 million of the costs incurred during …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Note 14. Revenues from contracts with customers Revenues consist primarily of revenues from the sale of hardware products. Revenues also include amounts for software products, extended warranty on hardware products and software subscription services. Substantially all products are sold through distributors and other channel partners, such as resellers and systems integrators. The Company recognizes revenue to reflect the transfer of control of promised products or services to a customer in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those products or services. Disaggregation of revenues Revenues by product category were as follows (unaudited and in thousands, except percentages): Three Months Ended September 30, Nine Months Ended September 30, 2024 2025 2024 2025 (As Restated) (As Restated) Point-to-Multi-Point $ 18,703 42 % $ 16,254 38 % $ 57,041 41 % $ 41,355 36 % Point-to-Point 8,547 19 % 11,312 26 % 36,751 27 % 30,773 26 % Enterprise 16,160 36 % 14,350 33 % 39,247 29 % 41,009 35 % Other 1,258 3 % 1,079 3 % 3,932 3 % 2,993 3 % Total Revenues $ 44,668 100 % $ 42,995 100 % $ 136,971 100 % $ 116,130 100 % The Companys products are predominately distributed through a third-party logistics providers in the United States, Netherlands and Vietnam. The Company has determined the geographical distribution of product revenues based upon the ship-to destinations. Revenues by geography were as follows (unaudited and in thousand …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Note 13. Segment information The Company operates in a single reportable segment providing fixed wireless broadband and Wi-Fi networking infrastructure solutions. This segment generates revenue primarily from the sale of hardware products, but also includes revenues from software products, extended warranty and subscription services. In its operation of the business, management, including our chief operating decision maker (CODM) who is also our Chief Executive Officer (CEO), reviews financial information regularly at the consolidated level. Net loss is used as the metric for purposes of allocating resources and evaluating performance. The CODM monitors forecast versus actual net loss for purposes of determining the general health of the Company and assessing the performance of the Company as compared to management's expectations. The Company does not have any intra-entity sales or transfers. Significant expenses reviewed by the CODM include those that are presented in the consolidated statements of operations and comprehensive loss. See Note 14. Revenues from contracts with customers for additional information about the Company's revenues by product category and geography. As the Company operates solely within one segment, total assets, property and equipment, net and software, net are reported at the consolidated level on the consolidated balance sheets. The Company's assets include both current and long-lived assets. As of December 31, 2024 and September 30, 2025 , segment …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"Note 9 . Shareholders' equity 2019 Share incentive plan In June 2019, the Companys Board of Directors adopted, and its shareholders approved, the 2019 Share Incentive Plan (2019 Plan). The 2019 Plan provides for the grant of incentive share options, nonqualified share options, share appreciation rights, restricted share awards (RSAs), restricted share units (RSUs), other share-based awards and performance awards. The share reserve under the 2019 Plan is automatically increased on the first day of each fiscal year, beginning with the fiscal year ended December 31, 2020 and will continue until, and including, the fiscal year ending December 31, 2029. The number of shares added annually is equal to the lowest of 1,320,000 shares, 5 % of the number of the Companys shares outstanding on the first day of such fiscal year, or an amount determined by the Board of Directors. The Company added 1,320,000 shares to the 2019 Plan as of January 1, 2025, under this provision. Due to the Company's noncompliance with Nasdaq Listing Rule 5250(c)(1) (the ""Filing Rule"") for failure to timely file its Form 10-K for the year ended December 31, 2024, the Company was not able to register these additional shares during 2025 to be issued under the 2019 Plan. The Companys employees, officers, directors, consultants, and advisors are eligible to receive awards under the 2019 Plan. Incentive share options, however, may only be granted to the Company's employees. Share-based compensation The following …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

"Note 17. Subsequent events Nasdaq Noncompliance On March 25, 2026, the Company received a written notice that the Nasdaq Hearings Panel (the Hearings Panel) had determined to delist the Company's ordinary shares from The Nasdaq Global Market due to the Company's failure to comply with the terms of the Hearings Panel's prior decision. Trading in the Company's ordinary shares was suspended at the open of trading on March 27, 2026. Trading in the Company's ordinary shares under the symbol ""CMBMF"" on the OTC Expert Market began on March 30, 2026. The Company had previously received a deficiency letter from the Listing Qualifications Department (the Staff) of the Nasdaq Stock Market LLC (Nasdaq) on April 10, 2025, notifying the Company that, it had failed to comply with the $ 1.00 per share minimum bid price requirement for continued inclusion on The Nasdaq Global Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the Bid Price Rule). The Company received additional deficiency letters from the Staff on April 16, 2025, May 22, 2025, August 25, 2025 and November 25, 2025, notifying the Company that it was not in compliance with the requirements of Nasdaq Listing Rule 5250(c)(1) (the ""Filing Rule"") for failure to timely file its Form 10-K for the year ended December 31, 2024 and its Quarterly reports on Form 10-Q for the periods ended March 31, 2025, June 30, 2025 and September 30, 2025, respectively (the Delinquent Filing). On November 11, 2025, the Company presented its plan o …

SubsequentEventsTextBlock · excerpt; the full note is in the filing