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Cambium Networks Corp (NASDAQ:CMBM), a manufacturer in the radio and TV broadcasting and communications equipment industry, announced on Monday the appointment of Ms. Sabrina Mekhalfa as a consultant to fulfill the duties of Global Controller and Chief Accounting Officer, effective today.
Ms. Mekhalfa will assume her role with a six-month initial term. Her extensive experience includes interim roles at ShipBob and Mitek Systems (NASDAQ:MITK), senior positions at UserTesting, Sephora Americas—Moet Hennessy Louis Vuitton, Postmates, Calix (NYSE:CALX), and Oracle Corporation (NYSE:ORCL).
Her academic credentials include a Maitrise Des Sciences De Gestion from Université Paris IX Dauphine and an MBA in International Business from City University of New York, Baruch College.
The company, headquartered in Hoffman Estates, Illinois, with a business address in Grand Cayman, confirmed that there are no familial ties between Ms. Mekhalfa and any director or executive officer of the company. Furthermore, there have been no material transactions involving Ms. Mekhalfa that would require disclosure under the U.S. Securities Act of 1933 since the beginning of the last fiscal year.
Cambium Networks' choice to bring on Ms. Mekhalfa comes as the company continues to navigate the global prestige retail market. The appointment is part of a recent SEC filing, which also includes standard financial statements and exhibits.
In other recent news, Cambium Networks reported encouraging financial results for the second quarter of 2024, with revenue reaching $45.9 million, surpassing expectations. The company also witnessed an improvement in adjusted gross margin and operating margins, despite a negative free cash flow of $1.8 million.
Looking forward, Cambium Networks anticipates third-quarter revenue between $43 million and $48 million and has set full-year revenue projections between $180 million and $190 million.
Cambium Networks has also announced customer wins and launched a new product and a concierge program for channel partners. Devices under cnMaestro cloud management grew by 6% from the previous quarter. The company is also preparing for the rollout of 6 gigahertz services, expected in late 2025 or early 2026.
However, it is noteworthy that Cambium Networks expects a non-GAAP net loss for both Q3 and the full year of 2024. Despite these challenges, CEO Morgan Kurk remains confident in the company's strategic progress, citing operational excellence and enhanced go-to-market strategies as drivers for future growth.
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