Cambium Networks Corp
For the period ended Sep 30, 2024. Filed Nov 12, 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.
Sep 30, 2024 · Filed Nov 12, 2024
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Condensed Consolidated Balance Sheets
(in thousands, except for share and per share data)
| December 31, | September 30, | |
|---|---|---|
| 2023 | 2024 | |
| (Unaudited) | ||
| ASSETS | ||
| Current assets | ||
| Cash | $18,710 | $46,491 |
| Receivables, net of credit losses of $283 and $502 | 64,103 | 57,275 |
| Inventories, net | 66,878 | 42,980 |
| Income taxes receivable | 222 | 1,118 |
| Prepaid expenses | 6,589 | 15,928 |
| Other current assets | 6,069 | 7,389 |
| Total current assets | 162,571 | 171,181 |
| Noncurrent assets | ||
| Property and equipment, net | 12,879 | 13,957 |
| Software, net | 11,985 | 13,387 |
| Operating lease assets | 7,894 | 6,708 |
| Intangible assets, net | 7,675 | 6,551 |
| Goodwill | 9,842 | 9,842 |
| Deferred tax assets, net | 3,694 | — |
| Other noncurrent assets | 1,335 | 983 |
| TOTAL ASSETS | $217,875 | $222,609 |
| LIABILITIES AND EQUITY | ||
| Current liabilities | ||
| Accounts payable | $19,120 | $19,619 |
| Accrued liabilities | 47,069 | 46,138 |
| Employee compensation | 5,071 | 3,894 |
| Current portion of long-term debt, net | 3,186 | 67,577 |
| Deferred revenues | 8,765 | 8,967 |
| Other current liabilities | 13,117 | 9,866 |
| Total current liabilities | 96,328 | 156,061 |
| Noncurrent liabilities | ||
| Long-term debt, net | 21,926 | — |
| Deferred revenues | 10,473 | 11,761 |
| Noncurrent operating lease liabilities | 6,595 | 9,332 |
| Other noncurrent liabilities | 1,619 | 1,825 |
| Total liabilities | 136,941 | 178,979 |
| Commitments and contingencies (Note 11) | ||
| Shareholders' equity | ||
| Share capital; $0.0001 par value; 500,000,000 shares authorized at December 31, 2023 and September 30, 2024; 28,095,144 shares issued and 27,834,908 outstanding at December 31, 2023 and 28,513,294 shares issued and 28,241,507 outstanding at September 30, 2024 | 3 | 3 |
| Additional paid in capital | 152,768 | 160,958 |
| Treasury shares, at cost, 260,236 shares at December 31, 2023 and 271,787 shares at September 30, 2024 | (5,624) | (5,664) |
| Accumulated deficit | (64,598) | (109,864) |
| Accumulated other comprehensive loss | (1,615) | (1,803) |
| Total shareholders' equity | 80,934 | 43,630 |
| TOTAL LIABILITIES AND EQUITY | $217,875 | $222,609 |
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