Cambium Networks Corp
For the period ended Mar 31, 2024. Filed May 10, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2023 | 2024 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $4,276 | $(26,447) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation | 1,058 | 1,149 |
| Amortization of software and intangible assets | 1,037 | 1,387 |
| Amortization of debt issuance costs | 75 | 77 |
| Share-based compensation | 2,875 | 2,586 |
| Deferred income taxes | (1,519) | 3,694 |
| Provision for inventory excess and obsolescence | 1,336 | 6,175 |
| Other | (231) | 687 |
| Change in assets and liabilities: | ||
| Receivables | (8,973) | 2,385 |
| Inventories | (12,601) | 5,110 |
| Prepaid expenses | 1,069 | (6,161) |
| Accounts payable | (1,474) | (3,581) |
| Accrued employee compensation | (584) | (1,018) |
| Accrued liabilities | 3,738 | (1,571) |
| Other assets and liabilities | 3,959 | (119) |
| Net cash used in operating activities | (5,959) | (15,647) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (1,569) | (1,767) |
| Purchases of software | (1,537) | (1,250) |
| Net cash used in investing activities | (3,106) | (3,017) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of revolver debt | — | 40,000 |
| Repayment of term loan | (656) | (1,313) |
| Taxes paid from shares withheld | (148) | (15) |
| Proceeds from share option exercises | 387 | — |
| Net cash (used in) provided by financing activities | (417) | 38,672 |
| Effect of exchange rate on cash | 16 | (7) |
| Net (decrease) increase in cash | (9,466) | 20,001 |
| Cash, beginning of period | 48,162 | 18,710 |
| Cash, end of period | $38,696 | $38,711 |
| Supplemental disclosure of cash flow information: | ||
| Income taxes paid | $204 | $116 |
| Interest paid | $412 | $1,030 |
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