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 Statements of Cash Flows
| Nine Months Ended September 30, | ||
|---|---|---|
| 2023 | 2024 | |
| Cash flows from operating activities: | ||
| Net loss | $(24,566) | $(45,266) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 3,212 | 3,511 |
| Amortization of software and intangible assets | 3,399 | 4,305 |
| Amortization of debt issuance costs | 235 | 235 |
| Share-based compensation | 8,782 | 7,642 |
| Deferred income taxes | 288 | 3,694 |
| Provision for inventory excess and obsolescence | 5,637 | 9,286 |
| Other | (7) | 339 |
| Change in assets and liabilities: | ||
| Receivables | 22,649 | 3,784 |
| Inventories | (28,333) | 14,612 |
| Prepaid expenses | 3,031 | (9,349) |
| Income taxes receivable | (859) | (900) |
| Accounts payable | (6,496) | 1,675 |
| Accrued employee compensation | (2,042) | (1,078) |
| Accrued liabilities | (1,264) | 2,065 |
| Other assets and liabilities | 5,608 | 1,096 |
| Net cash used in operating activities | (10,726) | (4,349) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (3,361) | (6,209) |
| Purchases of software | (5,518) | (4,640) |
| Net cash used in investing activities | (8,879) | (10,849) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of revolver debt | — | 45,000 |
| Repayment of term loan | (1,969) | (2,625) |
| Issuance of ordinary shares under ESPP | 1,102 | 663 |
| Taxes paid from shares withheld | (652) | (38) |
| Proceeds from share option exercises | 498 | — |
| Net cash (used in) provided by financing activities | (1,021) | 43,000 |
| Effect of exchange rate on cash | (7) | (21) |
| Net (decrease) increase in cash | (20,633) | 27,781 |
| Cash, beginning of period | 48,162 | 18,710 |
| Cash, end of period | $27,529 | $46,491 |
| Supplemental disclosure of cash flow information: | ||
| Income taxes paid, net of refunds received | $3,963 | $(972) |
| Interest paid | $1,354 | $4,021 |
| Non-cash investing and financing activities: | ||
| Increase in property, equipment and software unpaid or accrued in liabilities | $113 | $1,666 |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | $1,865 | $115 |
| Debt issuance costs incurred but not yet paid | $— | $325 |
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