# Cambium Networks Corporation (CMBMF) · Edgar & Edgarette company card

> Cambium Networks (CMBMF) saw revenue fall 10.0% in FY2025 to $160 million, operating margin -17.5% against a -7.1% median for radio & tv broadcasting & communications equipment, equity -26.2% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1738177 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/CMBMF) · [JSON](https://www.pops4.com/boards/company/CMBMF.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $160M |
| Revenue growth, 1 year | -10.0% |
| Revenue growth per year | -17.0% |
| Operating margin | -17.5% (prior year -39.7%) |
| Net margin | -24.1% |
| Operating cash flow | −$16M |
| Capital spending | $440,000 |
| Free cash flow | −$16M |
| Cash | $11M |
| Long-term debt | $66M |
| Total assets | $137M |
| Total equity | −$36M |
| Equity ÷ assets | -26.2% |
| Return on equity | — |
| Dividend per share | $0 |
| Dividend years rising | 0 |

## Readings, computed from those figures

- Altman Z: -8.51 (distress zone)
- Piotroski F: 4 of 9 (middling)
- Beneish M: -3.04 (below the −1.78 line)
- Health Harbor boat: Rotting at the dock · four or more warning signs · filed bankruptcy or receivership, late annual report notice, late quarterly report notice, auditor change, restructuring or exit costs in the last 12 months; liabilities exceed assets (often from years of share buybacks, not always distress); operating cash flow was negative; operating loss: a margin of -17.5% in FY2025
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $159.6M (FY2025), total debt $66.4M. Experience: revenue down 10.0% on the year, down 17.0% a year over 4 years; operating margin -17.5%, up from -39.7%. Soundness: equity -26.2% of assets (liabilities exceed assets). Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $115.0M and $156.3M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $106.4M to $169.4M. A statistical range, not company guidance. Against peers (12 filers, $50M+ revenue, radio & tv broadcasting & communications equipment): operating margin -17.5% against a -7.1% median; growth -10.0% against 4.4%.

Range logged 2026-09-29, receipt 0d626b2981d41fff, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 1.03 Bankruptcy or receivership: 1, latest 2026-09-14 ([filing](https://www.sec.gov/Archives/edgar/data/1738177/000119312526389901/0001193125-26-389901-index.htm))
- Item NT 10-K Late annual report notice: 1, latest 2026-03-31 ([filing](https://www.sec.gov/Archives/edgar/data/1738177/000119312526134964/0001193125-26-134964-index.htm))
- Item 3.01 Exchange listing notice or transfer: 6, latest 2026-08-31 ([filing](https://www.sec.gov/Archives/edgar/data/1738177/000119312526376720/0001193125-26-376720-index.htm))
- Item NT 10-Q Late quarterly report notice: 3, latest 2026-08-17 ([filing](https://www.sec.gov/Archives/edgar/data/1738177/000119312526354023/0001193125-26-354023-index.htm))
- Item 4.01 Auditor change: 1, latest 2025-12-03 ([filing](https://www.sec.gov/Archives/edgar/data/1738177/000119312525306934/0001193125-25-306934-index.htm))
- Item 2.05 Restructuring or exit costs: 1, latest 2026-09-14 ([filing](https://www.sec.gov/Archives/edgar/data/1738177/000119312526389901/0001193125-26-389901-index.htm))
- Item 5.02 Director or officer change: 3, latest 2026-09-28 ([filing](https://www.sec.gov/Archives/edgar/data/1738177/000119312526405403/0001193125-26-405403-index.htm))

## Recent filings

- 8-K · filed 2026-10-19 · 1.01 Entry into a Material Definitive Agreement; 2.01 Completion of Acquisition or Disposition of Assets; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1738177/000119312526425275/0001193125-26-425275-index.htm)
- 8-K · filed 2026-09-28 · 1.01 Entry into a Material Definitive Agreement; 2.01 Completion of Acquisition or Disposition of Assets; 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1738177/000119312526405403/0001193125-26-405403-index.htm)
- 8-K · filed 2026-09-14 · 1.03 Bankruptcy or Receivership; 2.05 Costs Associated with Exit or Disposal Activities; 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1738177/000119312526389901/0001193125-26-389901-index.htm)
- 8-K · filed 2026-08-31 · 3.01 Notice of Delisting or Failure to Satisfy a Listing Rule; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1738177/000119312526376720/0001193125-26-376720-index.htm)
- 8-K · filed 2026-06-26 · 5.07 Submission of Matters to a Vote of Security Holders; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1738177/000119312526285442/0001193125-26-285442-index.htm)
- DEF 14A · filed 2026-05-22 · [filing](https://www.sec.gov/Archives/edgar/data/1738177/000119312526236836/0001193125-26-236836-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001738177.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1738177

## Cite

POPS4, Edgar & Edgarette: Cambium Networks Corporation (CMBMF) company card, from the company's own SEC filings, accessed 2026-11-14, https://www.pops4.com/boards/company/CMBMF. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.