Cambium Networks Corp (NASDAQ:CMBM) Q3 2019 Earnings Conference Call - Final Transcript

Nov 07, 2019 • 04:30 pm ET


Cambium Networks Corp (NASDAQ:CMBM) Q3 2019 Earnings Conference Call - Final Transcript


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Good afternoon. My name is Bridgette, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Cambium Networks Third Quarter 2019 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

Mr. Peter Schuman, Senior Director of Investor Relations, you may begin your conference.

Peter Schuman

Thank you, Bridgette. Welcome, and thank you for joining us today for Cambium Networks' third quarter 2019 financial results conference call, and welcome to all those joining by webcast. Atul Bhatnagar, our President and CEO; and Stephen Cumming, our CFO, are here for today's call. The earnings release referenced on this call is accessible on the investor page of our website and has been submitted on a current report on Form 8-K with the SEC. A copy of today's prepared remarks will also be available on our investor page at the conclusion of this call.

As a reminder, today's remarks, including those made during Q&A, will contain forward-looking statements about the Company's outlook and expected performance. These statements are based on current expectations, forecasts and assumptions. Risks and uncertainties could cause actual results to differ materially. Except as required by law, Cambium Networks does not undertake any obligation to update or revise any forward-looking statements for any reason after the date of this presentation, whether as a result of new information, future developments, to conform these statements to actual results or to make changes in Cambium's expectations or otherwise. It is Cambium Networks policy to not reiterate our financial outlook. I encourage listeners to review the full list of risk factors included in the Safe Harbor statement in today's financial results press release.

We will also reference both GAAP and non-GAAP financial measures and specifically note that all sequential and year-over-year comparisons reference GAAP numbers except where otherwise noted. A reconciliation of non-GAAP measures to GAAP is included in the appendix to today's financial results press release, which can be found on the investor page of our website and in today's press release announcing our results.

Now, on to the agenda, Cambium Networks President and CEO, Atul Bhatnagar, will provide the key investment highlights for the quarter, and Stephen Cumming, Cambium Networks CFO, will provide a recap of the financial results for the third quarter 2019, which we will reference as Q3 2019, and reference past quarters as Q2 2019 for the second quarter 2019 and Q3 2018 for the third quarter of 2018. We will provide our financial outlook for the fourth quarter of 2019, which we will reference as Q4 2019, and fiscal year 2019 and fiscal year 2020, which we will we reference as FY 2019 and FY 2020. Our prepared remarks will be followed by a Q&A session.

I'd now like to turn the call over to Atul.

Atul Bhatnagar

Thank you, Peter. Looking at the results of our third quarter 2019, we achieved revenues of $65.7