Cambium Networks (CMBM) 10-Q 9 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 05, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Trading Symbol	CMBM
Entity Registrant Name	CAMBIUM NETWORKS CORP
Entity Central Index Key	0001738177
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		28,212,171
Entity Current Reporting Status	Yes
Entity File Number	001-38952
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	2000 Center Drive
Entity Address, Address Line Two	Suite East A401
Entity Address, City or Town	Hoffman Estates
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60192
City Area Code	345
Local Phone Number	814-7600
Entity Incorporation State Country Code	E9
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Ordinary shares, $0.0001 par value
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash	$ 42,574	$ 18,710
Receivables, net of credit losses of $283 and $564	56,680	64,103
Inventories, net	49,969	66,878
Income taxes receivable	4,651	222
Prepaid expenses	12,057	6,589
Other current assets	6,236	6,069
Total current assets	172,167	162,571
Noncurrent assets
Property and equipment, net	14,978	12,879
Software, net	12,989	11,985
Operating lease assets	6,931	7,894
Intangible assets, net	6,926	7,675
Goodwill	9,842	9,842
Deferred tax assets, net	0	3,694
Other noncurrent assets	1,258	1,335
TOTAL ASSETS	225,091	217,875
Current liabilities
Accounts payable	16,986	19,120
Accrued liabilities	46,455	47,069
Employee compensation	4,303	5,071
Current portion of long-term debt, net	3,173	3,186
Deferred revenues	8,261	8,765
Other current liabilities	10,114	13,117
Total current liabilities	89,292	96,328
Noncurrent liabilities
Long-term debt, net	65,685	21,926
Deferred revenues	10,338	10,473
Noncurrent operating lease liabilities	7,046	6,595
Other noncurrent liabilities	1,766	1,619
Total liabilities	174,127	136,941
Shareholders' equity
Share capital; $0.0001 par value; 500,000,000 shares authorized at December 31, 2023 and June 30, 2024; 28,095,144 shares issued and 27,834,908 outstanding at December 31, 2023 and 28,478,209 shares issued and 28,208,596 outstanding at June 30, 2024	3	3
Additional paid in capital	158,578	152,768
Treasury shares, at cost, 260,236 shares at December 31, 2023 and 269,613 shares at June 30, 2024	(5,660)	(5,624)
Accumulated deficit	(100,188)	(64,598)
Accumulated other comprehensive loss	(1,769)	(1,615)
Total shareholders' equity	50,964	80,934
TOTAL LIABILITIES AND EQUITY	$ 225,091	$ 217,875

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Receivables, allowance for credit losses	$ 564	$ 283
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	28,478,209	28,095,144
Common stock, shares, outstanding	28,208,596	27,834,908
Treasury stock, shares	269,613	260,236

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues	$ 45,946	$ 59,542	$ 88,283	$ 136,943
Cost of revenues	31,536	30,300	65,188	68,041
Gross profit	14,410	29,242	23,095	68,902
Operating expenses
Research and development	9,149	13,008	19,948	27,270
Sales and marketing	9,706	11,528	19,427	23,198
General and administrative	5,988	5,836	13,498	12,503
Depreciation and amortization	1,669	1,573	3,302	3,069
Total operating expenses	26,512	31,945	56,175	66,040
Operating (loss) income	(12,102)	(2,703)	(33,080)	2,862
Interest expense, net	1,304	579	2,185	1,176
Other expense, net	3	64	62	218
(Loss) income before income taxes	(13,409)	(3,346)	(35,327)	1,468
(Benefit) provision for income taxes	(4,266)	(704)	263	(166)
Net (loss) income	$ (9,143)	$ (2,642)	$ (35,590)	$ 1,634
(Loss) earnings per share
Basic	$ (0.33)	$ (0.1)	$ (1.28)	$ 0.06
Diluted	$ (0.33)	$ (0.1)	$ (1.28)	$ 0.06
Weighted-average number of shares outstanding to compute net (loss) earnings per share
Basic	27,902,956	27,432,705	27,876,280	27,387,112
Diluted	27,902,956	27,432,705	27,876,280	28,315,457

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (9,143)	$ (2,642)	$ (35,590)	$ 1,634
Other comprehensive income (loss)
Foreign currency translation adjustment	(110)	14	(154)	100
Comprehensive (loss) income	$ (9,253)	$ (2,628)	$ (35,744)	$ 1,734

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Share Capital	Additional Paid in Capital	Treasury Shares	Accumulated (deficit) equity	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2022	$ 145,373	$ 3	$ 138,997	$ (4,922)	$ 12,822	$ (1,527)
Beginning balance, shares at Dec. 31, 2022		27,313
Net Income (Loss)	1,634				1,634
Share-based compensation	5,937		5,937
Issuance of ordinary shares under ESPP	1,102		1,102
Issuance of ordinary shares under ESPP, shares		88
Issuance of vested shares		178
Treasury shares withheld for net settlement	(587)			(587)
Treasury shares withheld for net settlement, shares		(35)
Proceeds from exercise of share options	492		492
Proceeds from exercise of share options, shares		59
Foreign currency translation	100					100
Ending balance at Jun. 30, 2023	154,051	$ 3	146,528	(5,509)	14,456	(1,427)
Ending balance, shares at Jun. 30, 2023		27,603
Beginning balance at Mar. 31, 2023	152,536	$ 3	142,009	(5,133)	17,098	(1,441)
Beginning balance, shares at Mar. 31, 2023		27,397
Net Income (Loss)	(2,642)				(2,642)
Share-based compensation	3,312		3,312
Issuance of ordinary shares under ESPP	1,102		1,102
Issuance of ordinary shares under ESPP, shares		88
Issuance of vested shares		133
Treasury shares withheld for net settlement	(376)			(376)
Treasury shares withheld for net settlement, shares		(23)
Proceeds from exercise of share options	105		105
Proceeds from exercise of share options, shares		8
Foreign currency translation	14					14
Ending balance at Jun. 30, 2023	154,051	$ 3	146,528	(5,509)	14,456	(1,427)
Ending balance, shares at Jun. 30, 2023		27,603
Beginning balance at Dec. 31, 2023	80,934	$ 3	152,768	(5,624)	(64,598)	(1,615)
Beginning balance, shares at Dec. 31, 2023		27,835
Net Income (Loss)	(35,590)				(35,590)
Share-based compensation	5,147		5,147
Issuance of ordinary shares under ESPP	663		663
Issuance of ordinary shares under ESPP, shares		279
Issuance of vested shares		104
Treasury shares withheld for net settlement	(36)			(36)
Treasury shares withheld for net settlement, shares		(9)
Foreign currency translation	(154)					(154)
Ending balance at Jun. 30, 2024	50,964	$ 3	158,578	(5,660)	(100,188)	(1,769)
Ending balance, shares at Jun. 30, 2024		28,209
Beginning balance at Mar. 31, 2024	56,790	$ 3	155,137	(5,646)	(91,045)	(1,659)
Beginning balance, shares at Mar. 31, 2024		27,893
Net Income (Loss)	(9,143)				(9,143)
Share-based compensation	2,778		2,778
Issuance of ordinary shares under ESPP	663		663
Issuance of ordinary shares under ESPP, shares		279
Issuance of vested shares		41
Treasury shares withheld for net settlement	(14)			(14)
Treasury shares withheld for net settlement, shares		(4)
Foreign currency translation	(110)					(110)
Ending balance at Jun. 30, 2024	$ 50,964	$ 3	$ 158,578	$ (5,660)	$ (100,188)	$ (1,769)
Ending balance, shares at Jun. 30, 2024		28,209

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ (35,590)	$ 1,634
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation	2,324	2,124
Amortization of software and intangible assets	2,796	2,193
Amortization of debt issuance costs	155	154
Share-based compensation	5,147	5,937
Deferred income taxes	3,694	(3,324)
Provision for inventory excess and obsolescence	8,559	1,060
Other	444	(162)
Change in assets and liabilities:
Receivables	4,059	192
Inventories	8,350	(26,340)
Prepaid expenses	(5,477)	3,803
Income taxes receivable	(4,431)	27
Accounts payable	(2,732)	(1,340)
Accrued employee compensation	(631)	(1,515)
Accrued liabilities	2,509	615
Other assets and liabilities	(2,422)	4,462
Net cash used in operating activities	(13,246)	(10,480)
Cash flows from investing activities:
Purchases of property and equipment	(4,081)	(2,236)
Purchases of software	(3,106)	(3,333)
Net cash used in investing activities	(7,187)	(5,569)
Cash flows from financing activities:
Proceeds from issuance of revolver debt	45,000
Repayment of term loan	(1,313)	(1,313)
Issuance of ordinary shares under ESPP	663	1,102
Taxes paid from shares withheld	(32)	(433)
Proceeds from share option exercises		492
Net cash (used in) provided by financing activities	44,318	(152)
Effect of exchange rate on cash	(21)	17
Net (decrease) increase in cash	23,864	(16,184)
Cash, beginning of period	18,710	48,162
Cash, end of period	42,574	31,978
Supplemental disclosure of cash flow information:
Income taxes paid	2,347	2,843
Interest paid	1,952	880
Non-cash investing and financing activities:
Increase in property, equipment and software unpaid or accrued in liabilities	290	113
Operating lease right-of-use assets obtained in exchange for operating lease liabilities		$ 1,865
Debt issuance costs incurred but not yet paid	$ 275

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (9,143)	$ (2,642)	$ (35,590)	$ 1,634

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Business and Significant Accoun

Business and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Business and significant accounting policies	Note 1. Business and significant accounting policies Business Cambium Networks Corporation (“Cambium” or “Cambium Networks” or the “Company”), incorporated under the laws of the Cayman Islands, is a holding company whose principal operating entities are Cambium Networks, Ltd. (UK), Cambium Networks, Inc. (USA), and Cambium Networks Private Limited (India). On June 26, 2019, the Company completed an Initial Public Offering and the Company's ordinary shares began trading on the Nasdaq Global Market. Cambium Networks Corporation and its wholly owned subsidiaries design, develop, and manufacture fixed wireless and fiber broadband and enterprise networking infrastructure solutions that are used by businesses, governments, and service providers in urban, suburban and rural environments. Cambium's products simplify and automate the design, deployment, optimization, and management of broadband and Wi-Fi access networks through intelligent automation. Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of Cambium Networks Corporation and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements as of June 30, 2024, and for the three-month and six-month periods ended June 30, 2023 and 2024, and the related notes are unaudited. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual audited consolidated financial statements, and, in the opinion of management, reflect all adjustments, which comprise only normal recurring adjustments necessary to state fairly the Company’s financial position as of June 30, 2024 and results of operations for the three-month and six-month periods ended June 30, 2023 and 2024 and cash flows for the six-month periods ended June 30, 2023 and 2024. The condensed consolidated balance sheet as of December 31, 2023 has been derived from the audited financial statements at that date. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted. The condensed consolidated financial statements contained herein should be read in conjunction with the consolidated financial statements and related notes thereto for the year ended December 31, 2023 included in the Company’s annual report on Form 10-K and filed with the SEC on March 15, 2024. The results of operations for the three-month and six-month periods ended June 30, 2024 are not necessarily indicative of the operating results to be expected for the full year. The Company has reclassified certain prior period amounts in the condensed consolidated statements of cash flows to conform to the current period's presentation. Specifically, within the condensed consolidated statements of cash flows, changes in Income taxes receivable has been reclassified from “Other assets and liabilities” to “Income taxes receivable”. The reclassifications do not affect previously reported cash flows from operating activities in the condensed consolidated statements of cash flows. Going Concern In accordance with the accounting guidance related to the presentation of financial statements, when preparing financial statements for each annual and interim reporting period, management evaluates whether there are conditions or events that, when considered in the aggregate, raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. In making its assessment, management considered the Company’s current financial condition and liquidity sources, including current funds available, forecasted future cash flows and conditional and unconditional obligations due over the next twelve months, as well as other factors including the markets in which the Company competes and the current customer demand for the Company’s products. As of June 30, 2024 and through the date of filing this Quarterly Report, the Company was in compliance with all of its payment obligations and the financial covenants under its Amended Credit Agreement. The Company’s obligations under the Amended Credit Agreement do not mature and become due and payable until November 17, 2026. Please refer to Note 6. Debt, regarding the Company’s debt outstanding under its credit facilities with Bank of America. The Company is actively taking actions to improve its profitability and ensure future compliance with applicable financial covenants, including acceleration of collection of receivables, deferral of expenditures, cost reductions to align the Company’s cost structure with current revenue levels and sales of excess inventory. In addition, the Company continues to focus on operating efficiency and reducing discretionary spending. The Company believes these actions, together with its existing cash balances, provide it with the financial flexibility needed to meet its obligations as they come due over the next twelve months. However, this conclusion depends in part on the Company’s expectations regarding macro-conditions in the markets in which it competes, customer acceptance and purchases of the Company’s products, buying decisions by the Company’s distributors and other factors that are not within the Company’s control. Based on the Company’s current forecasts, the Company is projecting future noncompliance with its financial covenants within the next twelve months, which would result in a non-payment event of default under the Amended Credit Agreement. Such a default would afford the lenders thereunder the right to declare the amounts outstanding thereunder immediately due and payable, and the Company may not be able to obtain a waiver of such a default or otherwise refinance such indebtedness. Due to these uncertainties, management concluded that substantial doubt exists with respect to the Company's ability to continue as a going concern within one year after the date that these condensed consolidated financial statements are issued. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty. Update to Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies disclosed in the 2023 Form 10-K, Part II, Item 8. Recently issued accounting standards not yet adopted In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands the disclosures required in an entity's income tax rate reconciliation table and requires disclosure of income taxes paid in both U.S. and foreign jurisdictions. The amendments are effective for fiscal years beginning after December 15, 2024, with early adoption permitted, to be applied on a prospective basis, with retrospective application permitted. The Company is currently evaluating this ASU to determine its impact on the Company's disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendment requires disclosures of significant segment expenses that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit of loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment's profit or loss and assets. The new guidance also requires that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this update and all existing segment disclosures. The amendments are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. Upon adoption, this guidance should be applied retrospectively to all prior periods presented. The Company is currently evaluating this ASU to determine its impact on the Company's disclosures. In October 2023, the FASB issued ASU 2023-06 Disclosure Improvements: Codification Amendments in Response to the Securities and Exchange Commission's ("SEC") Disclosure Update and Simplification Initiative. The amendments in this update require modification of certain disclosure and presentation requirements for a variety of ASU topics in response to the SEC's Release No. 33-10532. The effective date for each amended topic in the ASC is the date on which the SEC's removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective. However, if by June 30, 2027, the SEC has not removed the related disclosure from its regulations, the amendment will be removed from the Codification and not become effective. Early adoption is permitted. The Company is currently evaluating this ASU to determine its impact on the Company's disclosures.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Note 2 . Balance sheet components Inventories, net Inventories, net consisted of the following (in thousands): December 31, June 30, 2023 2024 (unaudited) Finished goods $ 69,428 $ 60,939 Raw materials 21,271 21,090 Gross inventory 90,699 82,029 Less: Excess and obsolescence reserve ( 23,821 ) ( 32,060 ) Inventories, net $ 66,878 $ 49,969 The decrease in finished goods was primarily in our PMP and Enterprise products. Inventory reserves are established for estimated excess and obsolete inventory equal to the difference between the cost of the inventory and the estimated net realizable value of the inventory based on historical usage, known trends, and market conditions and judgment about the anticipated consumption and our ability to sell the inventory. At December 31, 2023 and June 30, 2024 , excess and obsolescence reserves were $ 23.8 million and $ 32.1 million, respectively. The increase in the reserve in 2024 was mostly driven by lower demand, mostly for PMP products. Accrued liabilities Accrued liabilities consisted of the following (in thousands): December 31, June 30, 2023 2024 (unaudited) Accrued goods and services $ 7,787 $ 5,329 Accrued loss on supplier commitments 12,949 17,767 Accrued inventory purchases 2,768 3,966 Accrued customer rebates 23,052 18,628 Other 513 765 Accrued liabilities $ 47,069 $ 46,455 Accrued warranty Provisions for warranty claims are primarily related to our hardware products and are recorded at the time products are sold. The change to accrued warranty was as follows (in thousands): Year ended Six Months Ended June 30, 2023 2024 (unaudited) Beginning balance $ 1,651 $ 1,484 Fulfillment of assumed acquisition warranty ( 178 ) ( 5 ) Provision increase, net 11 167 Ending balance $ 1,484 $ 1,646 At December 31, 2023, $ 1.2 million is included in Other current liabilities and $ 0.3 million is included in Other noncurrent liabilities on the Company's consolidated balance sheet. At June 30, 2024, $ 1.3 million is included in Other current liabilities and $ 0.3 million is included in Other noncurrent liabilities on the Company’s condensed consolidated balance sheet.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 3 . Property and equipment Property and equipment, net consisted of the following (in thousands): December 31, June 30, Useful Life 2023 2024 (unaudited) Equipment and tooling 5 years $ 37,678 $ 37,044 Computer equipment 3 years 5,546 5,698 Furniture and fixtures 5 to 10 years 853 855 Leasehold improvements 2 to 13 years 518 5,407 Total cost 44,595 49,004 Less: Accumulated depreciation ( 31,716 ) ( 34,026 ) Property and equipment, net $ 12,879 $ 14,978 Total depreciation expense was $ 1.0 million and $ 1.2 million for the three-month periods ended June 30, 2023 and 2024, respectively and $ 2.1 million and $ 2.3 million for the six-month periods ended June 30, 2023 and 2024, respectively.

Software

Software	6 Months Ended
	Jun. 30, 2024
Research and Development [Abstract]
Software	Note 4 . Software Software consisted of the following (in thousands): December 31, 2023 June 30, 2024 (unaudited) Useful Life Gross carrying amount Accumulated amortization Net balance Gross carrying amount Accumulated amortization Net balance Acquired and Software for internal use 3 to 7 years $ 16,814 $ ( 15,696 ) $ 1,118 $ 16,916 $ ( 15,923 ) $ 993 Software marketed for external sale 3 years 17,563 ( 6,696 ) 10,867 20,510 ( 8,514 ) 11,996 Total $ 34,377 $ ( 22,392 ) $ 11,985 $ 37,426 $ ( 24,437 ) $ 12,989 Amortization of acquired and software for internal use is computed using the straight-line method over an estimated useful life of generally three to seven years . Amortization expense recognized on acquired and software for internal use is reflected in depreciation and amortization in the condensed consolidated statements of operations. Amortization expense was $ 0.1 million and $ 0.1 million for the three-month periods ended June 30, 2023 and 2024, respectively. Amortization expense was $ 0.2 million and $ 0.2 million for the six-month periods ended June 30, 2023 and 2024, respectively. Amortization expense recognized on software to be sold or marketed externally was $ 0.6 million and $ 0.9 million for the three-month periods ended June 30, 2023 and 2024, respectively, and $ 1.2 million and $ 1.8 million for the six-month periods ended June 30, 2023 and 2024, respectively, and is included in cost of revenues on the condensed consolidated statements of operations. Based on capitalized software assets at June 30, 2024, estimated amortization expense in future fiscal years is as follows (unaudited and in thousands): Year ending December 31, Acquired and internal use software Software Total 2024 (July - December) $ 234 $ 2,161 $ 2,395 2025 427 4,201 4,628 2026 311 3,389 3,700 2027 21 1,742 1,763 2028 — 503 503 Thereafter — — — Total amortization $ 993 $ 11,996 $ 12,989

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 5 . Goodwill and Intangible Assets There was no change in the carrying amount of goodwill or intangible assets during the three-month and six-month periods ended June 30, 2024 (unaudited). The Company tests goodwill for impairment annually on December 31 and more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit or asset group below its carrying amount and tests intangible assets if an indicator suggests that the carrying amount may not be recoverable. Accordingly, the Company completes a quarterly qualitative triggering events assessment which considers significant events and circumstances such as a reporting unit’s historical and current results, assumptions regarding future performance, operating income or cash flows, strategic initiatives and overall economic factors, including significant negative industry or economic trends and macro-economic developments, and sustained declines in the Company's share price or market capitalization, considered in both absolute terms and relative to peers, to determine whether any of these may indicate that it is more likely than not that the fair value of the reporting unit is less than its carrying value. If an impairment trigger is identified, a quantitative impairment test is performed. The qualitative assessment performed for the three-month period ended June 30, 2024 included an assessment of excess inventories, supply chain constraints, and macroeconomic conditions and did not indicate the existence of an impairment trigger that would more likely than not reduce the fair value of our reporting unit below its carrying amount nor indicators suggesting that the carrying amount of intangible assets may not be recoverable. As of December 31, 2023 and June 30, 2024 , the Company's market capitalization exceeded its net assets by 106 % and 54 %, respectively. The Company continues to monitor market capitalization and assess potential goodwill impairment triggering events, including continued impact of slower demand, higher channel inventory and sustained decrease in its share price. If triggering events occur, the Company will perform a goodwill impairment assessment that may indicate impairment in a future period. The useful life, gross carrying value, accumulated amortization, and net balance for each major class of definite-lived intangible assets at each balance sheet date were as follows (in thousands): December 31, 2023 June 30, 2024 (unaudited) Useful Life Gross Accumulated Net balance Gross Accumulated Net balance Customer relationships 5 to 18 years $ 19,300 $ ( 11,625 ) $ 7,675 $ 19,300 $ ( 12,374 ) $ 6,926 Total $ 19,300 $ ( 11,625 ) $ 7,675 $ 19,300 $ ( 12,374 ) $ 6,926 Intangible assets are amortized over their expected useful life and none are expected to have a significant residual value at the end of their useful life. Intangible assets amortization expense was $ 0.4 million and $ 0.4 milli on for the three-month periods ended June 30, 2023 and 2024, respectively and $ 0.8 million and $ 0.8 million for the six-month periods ended June 30, 2023 and 2024, respectively. Based on capitalized intangible assets as of June 30, 2024, estimated amortization expense amounts in future fiscal years are as follows (unaudited and in thousands): Year ending December 31, Amortization 2024 (July - December) $ 749 2025 1,498 2026 1,498 2027 1,498 2028 1,144 Thereafter 539 Total amortization $ 6,926

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Note 6 . Debt As of June 30, 2024, the Company had $ 24.1 million outstanding under its term loan facility and $ 45.0 million outstanding under its revolving credit facility. As of June 30, 2024, the Company has no availability left under its revolving credit facility (unaudited). The following table reflects the current and noncurrent portions of the term loan and revolving credit facilities at December 31, 2023 and June 30, 2024 (in thousands): December 31, June 30, 2023 2024 (unaudited) Term loan facility $ 25,406 $ 24,094 Revolving credit facility — 45,000 Less: debt issuance costs ( 294 ) ( 236 ) Total debt 25,112 68,858 Less: current portion of term facility ( 3,281 ) ( 3,281 ) Current portion of debt issuance costs 95 108 Total long-term debt, net $ 21,926 $ 65,685 As of December 31, 2023, the effective interest rate on the term loan facility was 7.69 %. As of June 30, 2024 , the effective interest rate on the term loan facility was 9.17 % (unaudited) . The increase in the interest rate is being driven by the higher applicable margin as a result of the amendment completed on December 29, 2023. The Company borrowed $ 40.0 million against its revolving credit facility during the first quarter of 2024 and an additional $ 5.0 million during the second quarter of 2024. The funds will be used for working capital and normal operations. As of June 30, 2024 , the weighted-average interest rate for borrowings outstanding under the revolving credit facility was 8.67 % (unaudited). Both the term loan facility and revolving credit facility mature on November 17, 2026 . Maturities on the debt, which includes both the term loan facility and the revolver credit facility, remaining at June 30, 2024 is as follows (unaudited and in thousands): Year ending December 31, 2024 (July - December) $ 1,312 2025 2,625 2026 64,500 Total $ 68,437 As of June 30, 2024, the Company was in compliance with all affirmative and negative covenants, which included its monthly liquidity covenant at each liquidity measurement date and its quarterly Consolidated EBITDA covenant (unaudited). Net int erest expense, including bank charges and amortization of debt issuance costs on the debt, was $ 0.6 million and $ 1.3 m illion for the three-month periods ended June 30, 2023 and 2024, respectively, and $ 1.2 million and $ 2.2 million for the six-month periods ended June 30, 2023 and 2024, respectively (unaudited). The increase in interest expense is mostly due to the increase in the interest rate and applicable margin on the term loan facility and the addition of interest expense on the revolving credit facility.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Employee benefit plans	Note 7 . Employee benefit plans The Company’s employee benefit plans currently consist of a retirement plan in the United States and a separate defined contribution plan in the UK. The Company does not offer any other postretirement benefit plans, such as retiree medical and dental benefits or deferred compensation agreements to its employees or officers. U.S. plan U.S. employees that satisfy certain eligibility requirements, including requirements related to age and length of service, are eligible to participate in the Cambium Networks, Inc. 401(k) Plan. The plan is intended to qualify as a tax-qualified 401(k) plan so that contributions to the 401(k) plan, and income earned on such contributions, are not taxable to participants until withdrawn or distributed from the 401(k) plan. Under the 401(k) plan, each employee is fully vested in his or her deferred salary contributions. Employee contributions are held and invested by the plan’s trustee as directed by participants. Under the Cambium Networks, Inc. 401(k) Plan, the Company matches 100 % of employee contributions to the 401(k) plan up to a maximum amount of 4 % of eligible wages, which matching contributions are subject to vesting in equal annual increments over two years of service. All contributions, including the Company match, are made in cash. Contributions made by the Company under the Cambium Networks, Inc. 401(k) Plan were $ 0.5 million and $ 0.2 mill ion for the three-month periods ended June 30, 2023 and 2024, respectively, and $ 0.9 million and $ 0.4 million for the six-month periods ended June 30, 2023 and 2024, respectively (unaudited). UK plan UK employees who satisfy certain eligibility requirements are eligible to participate in the Cambium Networks Ltd. Stakeholder Pension Scheme, which is a qualified defined contribution plan. Employees are eligible to participate on the first of the month following receipt of their enrollment form, and eligible employees are automatically enrolled in the plan at a default employee contribution rate of 3 % of eligible compensation and a company contribution rate of 5 % of the employee’s basic salary. The Company contribution rate increases by 1 % for each additional 1% that the employee contributes up to a maximum of 7 %. Company matching contributions vest immediately and employees are always vested in their own contributions. All contributions, including the Company match, are made in cash and deposited in the participant’s account each pay period. The total contributed by the Company under this plan was $ 0.1 million and $ 0.1 million for the three-month periods ended June 30, 2023 and 2024, respectively, and $ 0.2 million and $ 0.2 million for the six-month periods ended June 30, 2023 and 2024, respectively (unaudited).

Shareholders' equity

Shareholders' equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Shareholders' equity	Note 8 . Shareholders' equity 2019 Share incentive plan In June 2019, the Company’s Board of Directors adopted, and its shareholders approved, the 2019 Share Incentive Plan (“2019 Plan”). The 2019 Plan provides for the grant of incentive share options, nonqualified share options, share appreciation rights, restricted share awards (“RSAs”), restricted share units (“RSUs”), other share-based awards and performance awards. The share reserve under the 2019 Plan is automatically increased on the first day of each fiscal year, beginning with the fiscal year ended December 31, 2020 and continuing until, and including, the fiscal year ending December 31, 2029. The number of shares added annually is equal to the lowest of 1,320,000 shares, 5 % of the number of the Company’s shares outstanding on the first day of such fiscal year, or an amount determined by the Board of Directors. On March 18, 2024, the Company registered 1,320,000 additional shares that may be issued under the 2019 Plan. The Company’s employees, officers, directors, consultants, and advisors are eligible to receive awards under the 2019 Plan. Incentive share options, however, may only be granted to the Company's employees. For the three-month periods ended June 30, 2023 and 2024, the Company recorded corresponding income tax benefits of $ 0.0 million and $ 0.0 milli on, respectively, and for the six-month periods ended June 30, 2023 and 2024, the Company recorded corresponding income tax benefits of $ 0.1 million and $ 0.0 million, respectively (unaudited). Share-based compensation The following table shows total share-based compensation expense for the three-month and six-month periods ended June 30, 2023 and 2024 (unaudited and in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2024 2023 2024 Cost of revenues $ 59 $ 51 $ 115 $ 84 Research and development 1,388 920 2,657 1,865 Sales and marketing 728 486 1,428 994 General and administrative 887 1,104 1,737 2,204 Total share-based compensation expense $ 3,062 $ 2,561 $ 5,937 $ 5,147 Share options The Company's time-based share options typically have a contractual term of ten years from grant date and typically vest over a four-year period. The Company recognizes compensation expense associated with its time-based share options on a straight-line basis over the requisite service period. The following is a summary of option activity for the Company’s share incentive plans for the six-month period ended June 30, 2024 (unaudited): Options Weighted Weighted Aggregate Outstanding at December 31, 2023 4,689,916 $ 11.98 7.5 $ 617,623 Options granted 1,475,625 $ 3.95 — $ — Options exercised — $ — — $ — Options expired ( 102,800 ) $ 16.24 — $ — Options forfeited ( 184,967 ) $ 13.81 — $ — Outstanding at June 30, 2024 5,877,774 $ 9.83 7.6 $ — Options exercisable at June 30, 2024 2,649,349 $ 13.27 5.5 $ — Options vested and expected to vest at June 30, 2024 5,740,183 $ 9.94 The Company uses the Black-Scholes option pricing model to estimate the fair value of share options. The Company utilized a forfeiture rate of 8.2 % during the six-month period ended June 30, 2024 for estimating the forfeitures of share options granted. The fair value of share options is estimated using the following weighted-average assumptions (unaudited): Six months ended June 30, 2023 2024 Expected dividend yield — — Risk-free interest rate 3.66 % 4.38 % Weighted-average expected volatility 67.6 % 76.7 % Expected term (in years) 5.60 5.80 Weighted average grant-date fair value per share of options granted $ 9.28 $ 2.71 At June 30, 2024, there wa s $ 12.6 m illion in unrecognized pre-tax share-based compensation expense, net of estimated forfeitures, related to unvested time-based share option awards. The unrecognized share-based compensation expense is expected to be recognized through the second quarter of 2028 (unaudited). Restricted shares The Company's time-based RSUs typically vest over a four-year period. The Company recognizes compensation expense associated with its time-based RSUs on a straight-line basis over the four-year requisite service period. The following is a summary of restricted shares activity for the Company’s share incentive plan for the six-month period ended June 30, 2024 (unaudited): Units Weighted RSU balance at December 31, 2023 1 556,340 $ 16.92 RSUs granted 379,920 $ 4.23 RSUs vested ( 103,718 ) $ 19.72 RSUs forfeited 1 ( 87,663 ) $ 14.73 RSU balance at June 30, 2024 1 744,879 $ 10.31 1 Includes time-based RSUs and the performance-based RSUs for which a grant date has been established, as described below. Of the 103,718 RSUs vested, the Company withheld 9,377 of those shares to pay the employees’ portion of the minimum payroll withholding taxes. The fair value of the RSUs is based on the fair value of the Company's ordinary shares on the grant date. The Company utilized a forfeiture rate of 8.2 % d uring the six-month period ended June 30, 2024 for estimating the forfeitures of RSUs granted. As of June 30, 2024, there was $ 6.1 m illion in unrecognized pre-tax compensation expense, net of estimated forfeitures, related to unvested time-based restricted share units. The unrecognized compensation expense is expected to be recognized through the second quarter of 2028 (unaudited). Performance-based share awards In May 2023, performance-based share awards were awarded to select executive officers of the Company. The awards contain a performance-based vesting criteria and included 60,000 share options and 135,000 restricted share units. The performance-based awards have two separate annual performance periods, with 50 % of the performance-based awards vesting over each of the annual performance periods ending on December 31, 2023 ("First Performance Period") and December 31, 2024 ("Second Performance Period") if the performance goal is met. If the performance goal for that performance period is not met, the performance-based awards do not vest and are forfeited. The performance goal is based on the Company's adjusted earnings per share, as publicly reported by the Company, for each performance period. The method used to measure the fair value of the performance-based awards is consistent with the methods used to measure the fair value of time-based share options and RSUs, as described above. During 2023, the 60,000 share options were forfeited prior to the end of the performance periods due to employee termination. For performance-based awards that vest during the First Performance Period, the Company's Compensation Committee retains the ability to modify the applicable adjusted earnings per share metric. Due to this discretion, the Company determined that the grantee does not have a mutual understanding of the key terms and conditions of the performance-based awards in the First Performance Period, and a grant date will not exist until the Compensation Committee approves the adjusted earnings per share metric for the First Performance Period. On January 29, 2024, the Compensation Committee determined the performance goals for the First Performance Period were not achieved and the total potential shares of 62,500 RSUs were forfeited (unaudited). Unlike the performance-based awards in the First Performance Period, the Compensation Committee does not have the discretion to modify the applicable adjusted earnings per share metric for performance-based awards that vest during the Second Performance Period. As such, a mutual understanding of the key terms and conditions, and thus a grant date, exists on the date that the performance-based awards are issued by the Company. As of June 30, 2024 , based on the total potential shares that could be earned, there were 45,000 RSUs granted. A grant date fair value was established, and the weighted average grant date fair values calculated in the above tables include these performance-based RSUs. The Company has not recognized any compensation expense on these performance-based awards since the achievement of the performance goal is not probable. As of June 30, 2024 , there was $ 0.6 million in unrecognized pre-tax compensation expense, net of estimated forfeitures, related to these unvested performance-based share awards for the Second Performance Period, which will be recognized over the requisite service period from January 1, 2024 through the first quarter of 2025 if it is probable that the adjusted earnings per share metric will be achieved (unaudited). Employee share purchase plan In June 2019, the Company’s Board of Directors adopted, and its shareholders approved, the Employee Share Purchase Plan (“ESPP”). The ESPP was effective on June 25, 2019, and the initial offering period of six months commenced on January 1, 2021. The current offering period of six months commenced on January 1, 2024 and runs through June 30, 2024. The purchase price of the shares is 85 % of the lower of the fair market value of the Company’s ordinary shares on the first trading day of the offering period and the purchase date. The ESPP includes an annual increase to the shares available for sale on the first day of each fiscal year beginning in 2020, equal to the lesser of: 275,000 shares, 1 % of the outstanding shares as of the last day of the immediately preceding fiscal year, or such other amount as the administrator may determine. The Company registered 275,000 additional shares on March 18, 2024. For the three-month periods ended June 30, 2023 and 2024, the Company recognized $ 0.2 milli on and $ 0.2 million, respectively, of share-based compensation expense related to the ESPP. For the six-month periods ended June 30, 2023 and 2024, the Company recognized $ 0.5 million and $ 0.4 million, respectively, of share-based compensation expense related to the ESPP. There were 88,290 shares issued under the ESPP during the three-month and six-month periods ended June 30, 2023. There were 279,403 shares issued under the ESPP during the three-month and six-month periods ended June 30, 2024 (unaudited).

(Loss) earnings per share

(Loss) earnings per share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
(Loss) earnings per share	Note 9 . (Loss) earnings per share Basic net earnings (loss) per share is computed by dividing net income by the weighted-average number of shares outstanding during the period. Diluted net earnings per share is computed using the treasury method by giving effect to all potentially dilutive ordinary share equivalents outstanding for the period. For purposes of this calculation, share options, RSUs, and ESPP awards are considered to be ordinary share equivalents but are excluded from the calculation of diluted earnings per share when including them would have an anti-dilutive effect. Performance-based share awards are only included in the calculation of diluted earnings per share if the performance metric would have been achieved as of June 30, 2024 if that had been the end of the contingency period. The following table sets forth the computation of basic and diluted net earnings per share (unaudited and in thousands, except for share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2023 2024 2023 2024 (unaudited) (unaudited) (unaudited) (unaudited) Numerator: Net (loss) income $ ( 2,642 ) $ ( 9,143 ) $ 1,634 $ ( 35,590 ) Denominator: Basic weighted average shares outstanding 27,432,705 27,902,956 27,387,112 27,876,280 Dilutive effect of share option awards — — 711,996 — Dilutive effect of restricted share units and restricted share awards — — 212,160 — Dilutive effect of employee share purchase plan — — 4,189 — Diluted weighted average shares outstanding 27,432,705 27,902,956 28,315,457 27,876,280 Net (loss) earnings per share, basic $ ( 0.10 ) $ ( 0.33 ) $ 0.06 $ ( 1.28 ) Net (loss) earnings per share, diluted $ ( 0.10 ) $ ( 0.33 ) $ 0.06 $ ( 1.28 ) In the computation of diluted earnings per share for the three-month and six-month periods ended June 30, 2023, 1,762,872 ordinary share equivalents and 1,708,983 ordinary share equivalents, respectively, were excluded because their inclusion would have been antidilutive. In the computation of diluted earnings per share for the three-month and six-month periods ended June 30, 2024, the Company did not include any share equivalents because their inclusion would have been antidilutive (unaudited).

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income taxes	Note 10. Income taxes The Company’s provision for income taxes at June 30, 2023 is based upon the estimated annual tax rate for the year applied to federal, state and foreign income. Due to forecasting uncertainty for 2024, the Company's provision for income taxes at June 30, 2024 is based on the 6-month year-to-date actual results. The Company recorded a benefit for income taxes of $ 0.7 million for the three-month period ended June 30, 2023 and a benefit for income taxes of $ 4.3 million for the three-month period ended June 30, 2024, with an effective tax rate of 21.0 % and 31.8 %, respectively. In the three-month period ended June 30, 2023, the Company's effective tax rate of 21.0 % was not materially different from the statutory rate of 21.0 %. For the three-month period ended June 30, 2024, the Company’s effective tax rate of 31.8 % was different from the statutory rate of 21.0 %, primarily due to the implementation of a tax method change in the U.S. related to the tax capitalization of the Company's research and development expenditures, resulting in a provision-to-return impact, reduction in the required U.S. valuation allowance and a decrease in the Foreign Derived Intangible Income benefit, while also including in the period an increase in the valuation allowance on the net deferred tax assets of the UK company, maintaining a full valuation allowance on the net UK deferred tax assets. In the six-month periods ended June 30, 2023 and 2024, the Company recorded a tax benefit of $ 0.2 million and tax provision of $ 0.3 million, respectively, with an effective income tax rate of ( 11.3 )% and ( 0.7 )%, respectively. For the six-month period ended June 30, 2023, the effective income tax rate of ( 11.3 )% was different from the statutory rate of 21.0 %, primarily due to Foreign Derived Intangible Income, tax benefits arising on Research and Development tax credits, and the revaluing of UK deferred tax assets at a higher future tax rate. For the six-month period ended June 30, 2024, the effective income tax rate of ( 0.7 )% was different from the statutory rate of 21.0 %, primarily due to the implementation of a tax method change in the U.S. related to the tax capitalization of the Company's research and development expenditures, resulting in a provision-to-return impact, and a corresponding reduction in the required U.S. valuation allowance, while also including in the period an increase in the valuation allowance on the net deferred tax assets of the UK company, maintaining a full valuation allowance on the net UK deferred tax assets. The Company increased the valuation allowance based on the analysis of cumulative income and loss positions, future income projections, and operating plans. The UK net deferred tax assets at December 31, 2023 were comprised primarily of NOL carryforwards, corporate interest restriction carryforwards and acquired intangibles, amounting to $ 23.6 million, fully reserving the UK net deferred tax assets. The UK valuation allowance increased during the three-month and six-month periods ended June 30, 2024 by $ 3.5 million and $ 9.4 million, respectively, for a total valuation allowance at June 30, 2024 of $ 33.0 million, fully reserving the UK net deferred tax assets. The U.S. net deferred tax assets at December 31, 2023 were comprised primarily of capitalized research costs and share-based compensation, amounting to $ 15.8 million. The U.S. net deferred tax assets decreased during the three-month and six-month periods ended June 30, 2024 by $ 8.1 million and $ 6.9 million, respectively, as a result of the tax method change referenced above, the Company began deducting a significant portion of its previously capitalized research and development expenditures for tax purposes, which reduced the total U.S. net deferred tax assets at June 30, 2024 of $ 8.9 million. The U.S. partial valuation allowance at December 31, 2023 was $ 12.1 million. The U.S. valuation allowance decreased during the three-month and six-month periods ended June 30, 2024 by $ 8.1 million and $ 3.2 million, respectively, for a total valuation allowance at June 30, 2024 of $ 8.9 million, fully reserving the U.S. net deferred tax assets. In assessing the realizability of deferred tax assets, the Company considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized or not. A significant piece of objective evidence evaluated is the cumulative income or loss incurred over the three-year period ended June 30, 2024 and whether the Company projects a loss for the current year ending December 31, 2024. Management assesses all the available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize the existing deferred tax assets before, they otherwise expire. The Company considers projected future taxable income, reversing taxable temporary differences, carryback opportunities, and prudent tax-planning strategies in making this assessment. The Company is in a cumulative loss position on a consolidated basis, and therefore, the Company considered this as negative evidence in evaluating the realizability of deferred tax assets of the U.S., even if the U.S. if not in a cumulative loss position. However, because of the cumulative losses in the UK in recent periods are a significant piece of objective negative evidence that limits the Company's ability to consider certain criteria of subjective positive evidence such as projections for future growth. The ultimate realization of deferred tax assets of the U.S. company is dependent upon the generation of future taxable income in the UK during the period in which those temporary differences are deductible. The amount of the deferred tax asset considered realizable will be adjusted in future periods as necessary based on the reversal pattern of deferred balances and the actual taxable income in the UK and U.S. during the carryforward period, as well as any relevant new facts to be considered. In applying the statutory tax rate in the effective income tax rate reconciliation, the Company used the statutory U.S. federal income tax rate of 21 % rather than the Cayman Islands zero percent rate.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Note 11. Commitments and contingencies In accordance with ASC 460, Guarantees , the Company recognizes the fair value for guarantee and indemnification arrangements it issues or modifies, if these arrangements are within the scope of the interpretation. In addition, the Company must continue to monitor the conditions that are subject to the guarantees and indemnifications in order to identify if a loss has been incurred. If the Company determines it is probable that a loss has occurred, then any such estimated loss would be recognized under those guarantees and indemnifications and would be recognized in the Company’s condensed consolidated statements of operations and corresponding condensed consolidated balance sheets during that period. Indemnification The Company generally indemnifies its customers against claims brought by a third party to the extent any such claim alleges that the Company’s product infringes a patent, copyright or trademark or violates any other proprietary rights of that third party. The maximum potential amount of future payments the Company may be required to make under these indemnification agreements is not estimable. The Company indemnifies its directors and officers and select key employees, including key employees serving as directors or officers of the Company’s subsidiaries, for certain events or occurrences, subject to certain limits, while the director or officer is or was serving at the Company’s request in such capacity. The term of the indemnification period is for the director’s or officer’s term of service. The Company may terminate the indemnification agreements with its directors, officers or key employees upon the termination of their services as directors or officers of the Company or its subsidiaries, or the termination of activities for which indemnification has been provided, but termination will not affect claims for indemnification related to events occurring prior to the effective date of termination. The maximum amount of potential future indemnification is unlimited; however, the Company has a director and officer insurance policy that limits its exposure. The Company believes the fair value of these indemnification agreements is minimal. Purchase commitments with contract manufacturers and suppliers We purchase components from a variety of suppliers and use contract manufacturers to provide manufacturing services for our products. During the normal course of business, in order to manage manufacturing lead times and help ensure adequate component supply, we enter into agreements with contract manufacturers and suppliers that allow them to procure inventory and components based upon criteria as defined by us, such as forecasted demand. Certain of our inventory purchase commitments with contract manufacturers and suppliers relate to arrangements to secure supply and pricing for certain components for multiple periods. We record a liability for firm, noncancelable, and unconditional purchase commitments for quantities in excess of our future demand forecasts consistent with the valuation of our excess and obsolete inventory. The Company may be liable to purchase excess product or aged material or components from our suppliers following reasonable mitigation efforts. Warranties The Company offers a standard warranty on its products, with the term depending on the product, and records a liability for the estimated future costs associated with potential warranty claims. The Company’s responsibility under its standard warranty is the repair or replacement of in-warranty defective product, or to credit the purchase price of the defective product, at its discretion, without charge to the customer. The Company’s estimate of future warranty costs is largely based on historical experience factors including product failure rates, material usage, and service delivery cost incurred in correcting product failures. The standard warranty is included in either Other current liabilities or Other noncurrent liabilities on its condensed consolidated balance sheets, depending on the time period covered by the warranty. The Company also offers an extended warranty for purchase that represents a future performance obligation for the Company. The extended warranty is included in deferred revenues (both current and noncurrent) on the condensed consolidated balance sheets and recognized on a straight-line basis over the term of the extended warranty. The warranty costs are reflected in the Company’s condensed consolidated statements of operations within cost of revenues. Legal proceedings Third parties may from time to time assert legal claims against the Company. The Company records accruals for loss contingencies to the extent that it concludes it is probable that a liability has been incurred and the amount of the related loss can be reasonably estimated. The Company evaluates, on a regular basis, developments in legal proceedings and other matters that could cause a change in amounts recorded. Due to the inherent uncertainty involving legal matters, the ultimate resolution could differ from amounts recorded. There is no pending or threatened legal proceedings to which the Company is a party, that in the Company’s opinion, is likely to have a material adverse effect on its financial condition or results of operations. Shareholder lawsuit On May 22, 2024, a putative shareholder class action complaint was filed in the United States District Court for the Northern District of Illinois (Hamby v. Cambium Networks Corporation et al, Case No. 1:24-cv-04240) against us and three of our current or former officers. The complaint purports to assert claims under Section 10(b) of the Exchange Act, Exchange Act Rule 10b-5, and Section 20(a) of the Exchange Act, on behalf of persons and entities who acquired our ordinary shares between May 8, 2023 and January 18, 2024, or the Class Period. The complaint alleges that, during the Class Period, the Company and certain of its executive officers made false and misleading statements and failed to disclose material adverse facts about its business, operations, and prospects in violation of Sections 10(b) (and Rule 10b-5 promulgated thereunder) and 20(a) of the Exchange Act. The plaintiffs seek damages in an unspecified amount. This litigation is in its early stages and the Company cannot currently estimate the possible loss or range of losses, if any, that it may experience in connection with this claim.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment information	Note 12. Segment information The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer. The Company’s CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. Accordingly, the Company determined that it operates as one operating segment and one reporting unit.

Revenues from contracts with cu

Revenues from contracts with customers	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues from contracts with customers	Note 13. Revenues from contracts with customers Revenues consist primarily of revenues from the sale of hardware products with essential embedded software. Revenues also include amounts for software products, extended warranty on hardware products and subscription services. Substantially all products are sold through distributors and other channel partners, such as resellers, managed service providers and systems integrators. The Company recognizes revenue to reflect the transfer of control of promised products or services to a customer in an amount that reflects the consideration to which the Company expects to be entitled in exchange for products or services. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company identifies its distinct performance obligations under each contract. A performance obligation is a promise in a contract to transfer a distinct product or service to the customer. Hardware products with essential embedded software, software products, and purchased extended warranty on hardware products have been identified as separate and distinct performance obligations. The transaction price is the amount of consideration to which the Company expects to be entitled in exchange for transferring products or services to a customer. An adjustment to revenue is made to adjust the transaction price to exclude the consideration related to products expected to be returned. The Company records an asset at the carrying amount of the estimated stock returns and a liability for the estimated amount expected to be refunded to the customer. The transaction price also excludes other forms of consideration provided to the customer, such as incentives and co-operative marketing allowances. The Company recognizes revenue when, or as, it satisfies a performance obligation by transferring control of a promised product or service to a customer. Revenue from hardware products with essential embedded software is recognized when control of the asset is transferred, which is typically at the time of shipment. Revenue from perpetual license software is recognized at the point in time that the customer is able to use or benefit from the software. Extended warranty on hardware products is a performance obligation that is satisfied over time, beginning on the effective date of the warranty period and ending on the expiration of the warranty period. The Company recognizes revenue on extended warranties on a straight-line basis over the warranty period. Revenue from software subscriptions is recognized ratably over the term in which the services are provided and the performance obligation is satisfied. The Company enters into revenue arrangements that may consist of multiple performance obligations, such as hardware products and extended warranty. The Company allocates the transaction price to each performance obligation on a relative standalone selling price basis for each distinct product or service in the contract. The best evidence of standalone selling price is the observable price of a product or service when the Company sells that product or service separately in similar circumstances and to similar customers. If a standalone selling price is not directly observable, the Company estimates the transaction price allocated to each performance obligation using the expected costs plus a margin approach. Disaggregation of revenues Revenues by product category were as follows (unaudited and in thousands, except percentages): Three Months Ended June 30, Six Months Ended June 30, 2023 2024 2023 2024 Point-to-Multi-Point $ 26,734 45 % $ 19,647 43 % $ 49,026 36 % $ 39,068 44 % Point-to-Point 25,074 42 % 13,656 30 % 43,082 31 % 28,067 32 % Enterprise 6,420 11 % 11,310 24 % 42,076 31 % 18,473 21 % Other 1,314 2 % 1,333 3 % 2,759 2 % 2,675 3 % Total Revenues $ 59,542 100 % $ 45,946 100 % $ 136,943 100 % $ 88,283 100 % The Company’s products are predominately sold through third-party distributors and distributed through a third-party logistics provider with facilities in the United States, Netherlands and Vietnam. The Company has determined the geographical distribution of product revenues based upon the ship-to destinations specified by its distributor customers. Revenues by geography were as follows (unaudited and in thousands, except percentages): Three Months Ended June 30, Six Months Ended June 30, 2023 2024 2023 2024 North America $ 39,526 67 % $ 20,647 45 % $ 87,119 64 % $ 45,696 52 % Europe, Middle East and Africa 6,769 11 % 15,003 33 % 26,477 19 % 23,413 27 % Caribbean and Latin America 6,015 10 % 5,306 11 % 9,700 7 % 10,198 11 % Asia Pacific 7,232 12 % 4,990 11 % 13,647 10 % 8,976 10 % Total Revenues $ 59,542 100 % $ 45,946 100 % $ 136,943 100 % $ 88,283 100 % Contract balances The following table summarizes contract balances as of December 31, 2023 and June 30, 2024 (in thousands): December 31, June 30, (unaudited) Trade accounts receivable, net of allowance for credit losses $ 63,656 $ 56,604 Deferred revenue - current 8,765 8,261 Deferred revenue - noncurrent 10,473 10,338 Refund liability 8,723 7,270 Deferred revenue consists of amounts due or received from customers in advance of the Company satisfying performance obligations under contractual arrangements. Deferred revenue is classified as current or noncurrent based on the timing of when revenue will be recognized. The changes in deferred revenue were due to normal timing differences between the Company’s performance and the customers’ payment. The refund liability is the estimated amount expected to be refunded to customers in relation to product exchanges made as part of the Company’s stock rotation program and returns that have been authorized, but not yet received by the Company. It is included within Other current liabilities in the condensed consolidated balance sheets. Receivables and concentration of credit risk Trade accounts receivable represent amounts for which the Company has an unconditional right to payment. Amounts are in accordance with contractual terms and are recorded at face amount less an allowance for credit losses. The Company establishes an allowance for credit losses to present the net amount of accounts receivable expected to be collected. The allowance is determined by using the loss-rate method, which requires an estimation of loss rates based upon historical loss experience adjusted for factors that are relevant to determining the expected collectability of accounts receivables. Some of these factors include macroeconomic conditions that correlate with historical loss experience, delinquency trends, aging behavior of receivables and credit and liquidity indicators for individual customers. The Company considers the credit risk of all customers and regularly monitors credit risk exposure in its trade receivables. The Company’s standard credit terms with its customers are generally net 30 to 60 days . The Company had one customer representing more than 10 % of trade receivables at December 31, 2023 and one customer representing more than 10 % of trade receivables at June 30, 2024. Remaining performance obligations Remaining performance obligations represent the revenue that is expected to be recognized in future periods related to performance obligations included in a contract that are unsatisfied, or partially satisfied, as of the end of a period. As of December 31, 2023, deferred revenue (current and noncurrent) of $ 19.2 million represents the Company’s remaining performance obligations, of which $ 8.8 million is expected to be recognized within one year , with the remainder to be recognized thereafter. As of June 30, 2024, deferred revenue (current and noncurrent) o f $ 18.6 million represents the Company’s remaining performance obligations, of whi ch $ 8.3 mi llion is expected to be recognized within one year , with the remainder to be recognized thereafter (unaudited). Revenue recognized during the three-month period ended June 30, 2024 which was previously included in deferred revenues as of December 31, 2023 was $ 2.4 million, compared to $ 2.1 million of revenue recognized during the three-month period ended June 30, 2023, which was previously included in deferred revenues as of December 31, 2022 . Revenue recognized during the six-month period ended June 30, 2024 which was previously included in deferred revenues as of December 31, 2023 was $ 5.1 million, compared to $ 5.5 million of revenue recognized during the six-month period ended June 30, 2023, which was previously included in deferred revenues as of December 31, 2022 (unaudited). Cost to obtain a contract Sales commissions are incremental costs of obtaining a contract. The Company has elected to recognize these expenses as incurred, as the amortization period of these costs is one year or less.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Note 14. Related party transactions The Company follows ASC 850, Related Party Disclosures , for the identification of related parties and disclosure of related party transactions. A party is considered to be related to the Company if the party directly or indirectly or through one or more intermediaries, controls, is controlled by, or is under common control with the Company. Related parties also include principal owners of the Company, its management, members of the immediate families of principal owners of the Company and its management and other parties with which the Company may deal. For the three-month and six-month periods ended June 30, 2023 and 2024, the Company did no t have any material related party transactions to disclose (unaudited).

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring	Note 15. Restructuring In 2023, the Company announced and initiated two corporate cost reductions to better align Cambium's cost structure with current economic conditions and position the Company to achieve near-term and long-term targets to maintain profitability, improve cash flow and maintain a strong balance sheet. These cost reductions are still ongoing and the Company expects all costs to be incurred by the end of 2024. At December 31, 2023, the Company had an outstanding restructuring liability of $ 0.4 million, which was paid in the first quarter of 2024. During the three-month and six-month periods ended June 30, 2024, the Company incurred additional restructuring charges of approximately $ 0.2 million and $ 0.5 million, respectively, consisting mostly of involuntary employee termination costs, and is included in cost of revenues and all operating expense lines in the Company's condensed consolidated statements of operations. At June 30, 2024, the Company has a restructuring liability of $ 0.2 million, which is included in Accrued liabilities in the Company's condensed consolidated balance sheet and is expected to be paid by the fourth quarter of 2024 (unaudited). The following table reflects the restructuring liability activity for the six-month period ended June 30, 2024 (unaudited and in thousands): Restructuring liability at December 31, 2023 $ 363 Restructuring charges 509 Costs paid ( 700 ) Restructuring liability at June 30, 2024 $ 172

Business and Significant Acco_2

Business and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited condensed consolidated financial statements include the accounts of Cambium Networks Corporation and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements as of June 30, 2024, and for the three-month and six-month periods ended June 30, 2023 and 2024, and the related notes are unaudited. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual audited consolidated financial statements, and, in the opinion of management, reflect all adjustments, which comprise only normal recurring adjustments necessary to state fairly the Company’s financial position as of June 30, 2024 and results of operations for the three-month and six-month periods ended June 30, 2023 and 2024 and cash flows for the six-month periods ended June 30, 2023 and 2024. The condensed consolidated balance sheet as of December 31, 2023 has been derived from the audited financial statements at that date. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted. The condensed consolidated financial statements contained herein should be read in conjunction with the consolidated financial statements and related notes thereto for the year ended December 31, 2023 included in the Company’s annual report on Form 10-K and filed with the SEC on March 15, 2024. The results of operations for the three-month and six-month periods ended June 30, 2024 are not necessarily indicative of the operating results to be expected for the full year. The Company has reclassified certain prior period amounts in the condensed consolidated statements of cash flows to conform to the current period's presentation. Specifically, within the condensed consolidated statements of cash flows, changes in Income taxes receivable has been reclassified from “Other assets and liabilities” to “Income taxes receivable”. The reclassifications do not affect previously reported cash flows from operating activities in the condensed consolidated statements of cash flows.
Going Concern	Going Concern In accordance with the accounting guidance related to the presentation of financial statements, when preparing financial statements for each annual and interim reporting period, management evaluates whether there are conditions or events that, when considered in the aggregate, raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued. In making its assessment, management considered the Company’s current financial condition and liquidity sources, including current funds available, forecasted future cash flows and conditional and unconditional obligations due over the next twelve months, as well as other factors including the markets in which the Company competes and the current customer demand for the Company’s products. As of June 30, 2024 and through the date of filing this Quarterly Report, the Company was in compliance with all of its payment obligations and the financial covenants under its Amended Credit Agreement. The Company’s obligations under the Amended Credit Agreement do not mature and become due and payable until November 17, 2026. Please refer to Note 6. Debt, regarding the Company’s debt outstanding under its credit facilities with Bank of America. The Company is actively taking actions to improve its profitability and ensure future compliance with applicable financial covenants, including acceleration of collection of receivables, deferral of expenditures, cost reductions to align the Company’s cost structure with current revenue levels and sales of excess inventory. In addition, the Company continues to focus on operating efficiency and reducing discretionary spending. The Company believes these actions, together with its existing cash balances, provide it with the financial flexibility needed to meet its obligations as they come due over the next twelve months. However, this conclusion depends in part on the Company’s expectations regarding macro-conditions in the markets in which it competes, customer acceptance and purchases of the Company’s products, buying decisions by the Company’s distributors and other factors that are not within the Company’s control. Based on the Company’s current forecasts, the Company is projecting future noncompliance with its financial covenants within the next twelve months, which would result in a non-payment event of default under the Amended Credit Agreement. Such a default would afford the lenders thereunder the right to declare the amounts outstanding thereunder immediately due and payable, and the Company may not be able to obtain a waiver of such a default or otherwise refinance such indebtedness. Due to these uncertainties, management concluded that substantial doubt exists with respect to the Company's ability to continue as a going concern within one year after the date that these condensed consolidated financial statements are issued. The accompanying condensed consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The condensed consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of this uncertainty.
Update to Significant Accounting Policies	Update to Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies disclosed in the 2023 Form 10-K, Part II, Item 8.
Recently issued accounting standards not yet adopted	Recently issued accounting standards not yet adopted In December 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which expands the disclosures required in an entity's income tax rate reconciliation table and requires disclosure of income taxes paid in both U.S. and foreign jurisdictions. The amendments are effective for fiscal years beginning after December 15, 2024, with early adoption permitted, to be applied on a prospective basis, with retrospective application permitted. The Company is currently evaluating this ASU to determine its impact on the Company's disclosures. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendment requires disclosures of significant segment expenses that are regularly provided to the chief operating decision maker ("CODM") and included within each reported measure of segment profit of loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment's profit or loss and assets. The new guidance also requires that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this update and all existing segment disclosures. The amendments are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. Upon adoption, this guidance should be applied retrospectively to all prior periods presented. The Company is currently evaluating this ASU to determine its impact on the Company's disclosures. In October 2023, the FASB issued ASU 2023-06 Disclosure Improvements: Codification Amendments in Response to the Securities and Exchange Commission's ("SEC") Disclosure Update and Simplification Initiative. The amendments in this update require modification of certain disclosure and presentation requirements for a variety of ASU topics in response to the SEC's Release No. 33-10532. The effective date for each amended topic in the ASC is the date on which the SEC's removal of the related disclosure requirement from Regulation S-X or Regulation S-K becomes effective. However, if by June 30, 2027, the SEC has not removed the related disclosure from its regulations, the amendment will be removed from the Codification and not become effective. Early adoption is permitted. The Company is currently evaluating this ASU to determine its impact on the Company's disclosures.

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Schedule of Inventories, Net	Inventories, net consisted of the following (in thousands): December 31, June 30, 2023 2024 (unaudited) Finished goods $ 69,428 $ 60,939 Raw materials 21,271 21,090 Gross inventory 90,699 82,029 Less: Excess and obsolescence reserve ( 23,821 ) ( 32,060 ) Inventories, net $ 66,878 $ 49,969
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): December 31, June 30, 2023 2024 (unaudited) Accrued goods and services $ 7,787 $ 5,329 Accrued loss on supplier commitments 12,949 17,767 Accrued inventory purchases 2,768 3,966 Accrued customer rebates 23,052 18,628 Other 513 765 Accrued liabilities $ 47,069 $ 46,455
Schedule of Change to Accrued Warranty	Provisions for warranty claims are primarily related to our hardware products and are recorded at the time products are sold. The change to accrued warranty was as follows (in thousands): Year ended Six Months Ended June 30, 2023 2024 (unaudited) Beginning balance $ 1,651 $ 1,484 Fulfillment of assumed acquisition warranty ( 178 ) ( 5 ) Provision increase, net 11 167 Ending balance $ 1,484 $ 1,646 At December 31, 2023, $ 1.2 million is included in Other current liabilities and $ 0.3 million is included in Other noncurrent liabilities on the Company's consolidated balance sheet.

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): December 31, June 30, Useful Life 2023 2024 (unaudited) Equipment and tooling 5 years $ 37,678 $ 37,044 Computer equipment 3 years 5,546 5,698 Furniture and fixtures 5 to 10 years 853 855 Leasehold improvements 2 to 13 years 518 5,407 Total cost 44,595 49,004 Less: Accumulated depreciation ( 31,716 ) ( 34,026 ) Property and equipment, net $ 12,879 $ 14,978

Software (Tables)

Software (Tables)	6 Months Ended
	Jun. 30, 2024
Schedule of Carrying Amount and Amortization of Software and Intangible Assets	The useful life, gross carrying value, accumulated amortization, and net balance for each major class of definite-lived intangible assets at each balance sheet date were as follows (in thousands): December 31, 2023 June 30, 2024 (unaudited) Useful Life Gross Accumulated Net balance Gross Accumulated Net balance Customer relationships 5 to 18 years $ 19,300 $ ( 11,625 ) $ 7,675 $ 19,300 $ ( 12,374 ) $ 6,926 Total $ 19,300 $ ( 11,625 ) $ 7,675 $ 19,300 $ ( 12,374 ) $ 6,926
Schedule of Estimated Amortization Expense of Capitalized Software and Intangible Assets	Based on capitalized intangible assets as of June 30, 2024, estimated amortization expense amounts in future fiscal years are as follows (unaudited and in thousands): Year ending December 31, Amortization 2024 (July - December) $ 749 2025 1,498 2026 1,498 2027 1,498 2028 1,144 Thereafter 539 Total amortization $ 6,926
Capitalized Software Assets
Schedule of Carrying Amount and Amortization of Software and Intangible Assets	Software consisted of the following (in thousands): December 31, 2023 June 30, 2024 (unaudited) Useful Life Gross carrying amount Accumulated amortization Net balance Gross carrying amount Accumulated amortization Net balance Acquired and Software for internal use 3 to 7 years $ 16,814 $ ( 15,696 ) $ 1,118 $ 16,916 $ ( 15,923 ) $ 993 Software marketed for external sale 3 years 17,563 ( 6,696 ) 10,867 20,510 ( 8,514 ) 11,996 Total $ 34,377 $ ( 22,392 ) $ 11,985 $ 37,426 $ ( 24,437 ) $ 12,989
Schedule of Estimated Amortization Expense of Capitalized Software and Intangible Assets	Based on capitalized software assets at June 30, 2024, estimated amortization expense in future fiscal years is as follows (unaudited and in thousands): Year ending December 31, Acquired and internal use software Software Total 2024 (July - December) $ 234 $ 2,161 $ 2,395 2025 427 4,201 4,628 2026 311 3,389 3,700 2027 21 1,742 1,763 2028 — 503 503 Thereafter — — — Total amortization $ 993 $ 11,996 $ 12,989

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amount and Amortization of Software and Intangible Assets	The useful life, gross carrying value, accumulated amortization, and net balance for each major class of definite-lived intangible assets at each balance sheet date were as follows (in thousands): December 31, 2023 June 30, 2024 (unaudited) Useful Life Gross Accumulated Net balance Gross Accumulated Net balance Customer relationships 5 to 18 years $ 19,300 $ ( 11,625 ) $ 7,675 $ 19,300 $ ( 12,374 ) $ 6,926 Total $ 19,300 $ ( 11,625 ) $ 7,675 $ 19,300 $ ( 12,374 ) $ 6,926
Schedule of Estimated Amortization Expense of Capitalized Software and Intangible Assets	Based on capitalized intangible assets as of June 30, 2024, estimated amortization expense amounts in future fiscal years are as follows (unaudited and in thousands): Year ending December 31, Amortization 2024 (July - December) $ 749 2025 1,498 2026 1,498 2027 1,498 2028 1,144 Thereafter 539 Total amortization $ 6,926

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Current and Noncurrent Portions of Term Loan and Revolving Credit Facilities	The following table reflects the current and noncurrent portions of the term loan and revolving credit facilities at December 31, 2023 and June 30, 2024 (in thousands): December 31, June 30, 2023 2024 (unaudited) Term loan facility $ 25,406 $ 24,094 Revolving credit facility — 45,000 Less: debt issuance costs ( 294 ) ( 236 ) Total debt 25,112 68,858 Less: current portion of term facility ( 3,281 ) ( 3,281 ) Current portion of debt issuance costs 95 108 Total long-term debt, net $ 21,926 $ 65,685
Schedule of Maturities on Debt Term Loan Facility and Revolver Credit Facility Outstanding	Maturities on the debt, which includes both the term loan facility and the revolver credit facility, remaining at June 30, 2024 is as follows (unaudited and in thousands): Year ending December 31, 2024 (July - December) $ 1,312 2025 2,625 2026 64,500 Total $ 68,437

Shareholders' equity (Tables)

Shareholders' equity (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Total Share-based Compensation Expense	The following table shows total share-based compensation expense for the three-month and six-month periods ended June 30, 2023 and 2024 (unaudited and in thousands): Three Months Ended June 30, Six Months Ended June 30, 2023 2024 2023 2024 Cost of revenues $ 59 $ 51 $ 115 $ 84 Research and development 1,388 920 2,657 1,865 Sales and marketing 728 486 1,428 994 General and administrative 887 1,104 1,737 2,204 Total share-based compensation expense $ 3,062 $ 2,561 $ 5,937 $ 5,147
Summary of Stock Option Activity	The following is a summary of option activity for the Company’s share incentive plans for the six-month period ended June 30, 2024 (unaudited): Options Weighted Weighted Aggregate Outstanding at December 31, 2023 4,689,916 $ 11.98 7.5 $ 617,623 Options granted 1,475,625 $ 3.95 — $ — Options exercised — $ — — $ — Options expired ( 102,800 ) $ 16.24 — $ — Options forfeited ( 184,967 ) $ 13.81 — $ — Outstanding at June 30, 2024 5,877,774 $ 9.83 7.6 $ — Options exercisable at June 30, 2024 2,649,349 $ 13.27 5.5 $ — Options vested and expected to vest at June 30, 2024 5,740,183 $ 9.94
Schedule of Estimated Fair Value of Weighted Average Assumptions	The fair value of share options is estimated using the following weighted-average assumptions (unaudited): Six months ended June 30, 2023 2024 Expected dividend yield — — Risk-free interest rate 3.66 % 4.38 % Weighted-average expected volatility 67.6 % 76.7 % Expected term (in years) 5.60 5.80 Weighted average grant-date fair value per share of options granted $ 9.28 $ 2.71
Summary of Restricted Shares Activity	The following is a summary of restricted shares activity for the Company’s share incentive plan for the six-month period ended June 30, 2024 (unaudited): Units Weighted RSU balance at December 31, 2023 1 556,340 $ 16.92 RSUs granted 379,920 $ 4.23 RSUs vested ( 103,718 ) $ 19.72 RSUs forfeited 1 ( 87,663 ) $ 14.73 RSU balance at June 30, 2024 1 744,879 $ 10.31 1 Includes time-based RSUs and the performance-based RSUs for which a grant date has been established, as described below.

(Loss) earnings per share (Tabl

(Loss) earnings per share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Net Earnings Per Share	Performance-based share awards are only included in the calculation of diluted earnings per share if the performance metric would have been achieved as of June 30, 2024 if that had been the end of the contingency period. The following table sets forth the computation of basic and diluted net earnings per share (unaudited and in thousands, except for share and per share data): Three Months Ended June 30, Six Months Ended June 30, 2023 2024 2023 2024 (unaudited) (unaudited) (unaudited) (unaudited) Numerator: Net (loss) income $ ( 2,642 ) $ ( 9,143 ) $ 1,634 $ ( 35,590 ) Denominator: Basic weighted average shares outstanding 27,432,705 27,902,956 27,387,112 27,876,280 Dilutive effect of share option awards — — 711,996 — Dilutive effect of restricted share units and restricted share awards — — 212,160 — Dilutive effect of employee share purchase plan — — 4,189 — Diluted weighted average shares outstanding 27,432,705 27,902,956 28,315,457 27,876,280 Net (loss) earnings per share, basic $ ( 0.10 ) $ ( 0.33 ) $ 0.06 $ ( 1.28 ) Net (loss) earnings per share, diluted $ ( 0.10 ) $ ( 0.33 ) $ 0.06 $ ( 1.28 )

Revenues from Contracts with _2

Revenues from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Revenues by Product Category	Revenues by product category were as follows (unaudited and in thousands, except percentages): Three Months Ended June 30, Six Months Ended June 30, 2023 2024 2023 2024 Point-to-Multi-Point $ 26,734 45 % $ 19,647 43 % $ 49,026 36 % $ 39,068 44 % Point-to-Point 25,074 42 % 13,656 30 % 43,082 31 % 28,067 32 % Enterprise 6,420 11 % 11,310 24 % 42,076 31 % 18,473 21 % Other 1,314 2 % 1,333 3 % 2,759 2 % 2,675 3 % Total Revenues $ 59,542 100 % $ 45,946 100 % $ 136,943 100 % $ 88,283 100 %
Schedule of Revenue by Geography	Revenues by geography were as follows (unaudited and in thousands, except percentages): Three Months Ended June 30, Six Months Ended June 30, 2023 2024 2023 2024 North America $ 39,526 67 % $ 20,647 45 % $ 87,119 64 % $ 45,696 52 % Europe, Middle East and Africa 6,769 11 % 15,003 33 % 26,477 19 % 23,413 27 % Caribbean and Latin America 6,015 10 % 5,306 11 % 9,700 7 % 10,198 11 % Asia Pacific 7,232 12 % 4,990 11 % 13,647 10 % 8,976 10 % Total Revenues $ 59,542 100 % $ 45,946 100 % $ 136,943 100 % $ 88,283 100 %
Summary of Contract Balances	The following table summarizes contract balances as of December 31, 2023 and June 30, 2024 (in thousands): December 31, June 30, (unaudited) Trade accounts receivable, net of allowance for credit losses $ 63,656 $ 56,604 Deferred revenue - current 8,765 8,261 Deferred revenue - noncurrent 10,473 10,338 Refund liability 8,723 7,270

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Liability Activity	The following table reflects the restructuring liability activity for the six-month period ended June 30, 2024 (unaudited and in thousands): Restructuring liability at December 31, 2023 $ 363 Restructuring charges 509 Costs paid ( 700 ) Restructuring liability at June 30, 2024 $ 172

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of Inventories, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory, Net [Abstract]
Finished goods	$ 60,939	$ 69,428
Raw materials	21,090	21,271
Gross inventory	82,029	90,699
Less: Excess and obsolescence reserve	(32,060)	(23,821)
Inventories, net	$ 49,969	$ 66,878

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Accrued goods and services	$ 5,329	$ 7,787
Accrued loss on supplier commitments	17,767	12,949
Accrued inventory purchases	3,966	2,768
Accrued customer rebates	18,628	23,052
Other	765	513
Accrued liabilities	$ 46,455	$ 47,069

Balance Sheet Components - Sc_3

Balance Sheet Components - Schedule of Change to Accrued Warranty (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Standard Product Warranty Disclosure [Abstract]
Beginning balance	$ 1,484	$ 1,651
Fulfillment of assumed acquisition warranty	(5)	(178)
Provision increase, net	167	11
Ending balance	$ 1,646	$ 1,484

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Product Warranty Liability [Line Items]
Excess and obsolescence reserves	$ 32,060	$ 23,821
Accrued warranty	1,646	1,484	$ 1,651
Other Current Liabilities
Product Warranty Liability [Line Items]
Accrued warranty	1,300	1,200
Other Noncurrent Liabilities
Product Warranty Liability [Line Items]
Accrued warranty	$ 300	$ 300

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Total cost	$ 49,004	$ 44,595
Less: Accumulated depreciation	(34,026)	(31,716)
Property and equipment, net	$ 14,978	$ 12,879
Equipment and Tooling
Property Plant And Equipment [Line Items]
Useful Life	5 years	5 years
Total cost	$ 37,044	$ 37,678
Computer Equipment
Property Plant And Equipment [Line Items]
Useful Life	3 years	3 years
Total cost	$ 5,698	$ 5,546
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Total cost	$ 855	$ 853
Furniture and Fixtures | Minimum
Property Plant And Equipment [Line Items]
Useful Life	5 years	5 years
Furniture and Fixtures | Maximum
Property Plant And Equipment [Line Items]
Useful Life	10 years	10 years
Leasehold Improvements
Property Plant And Equipment [Line Items]
Total cost	$ 5,407	$ 518
Leasehold Improvements | Minimum
Property Plant And Equipment [Line Items]
Useful Life	2 years	2 years
Leasehold Improvements | Maximum
Property Plant And Equipment [Line Items]
Useful Life	13 years	13 years

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1,200	$ 1,000	$ 2,324	$ 2,124

Software - Schedule of Software

Software - Schedule of Software (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 37,426	$ 34,377
Accumulated amortization	(24,437)	(22,392)
Net balance	12,989	11,985
Acquired and Software for Internal Use
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	16,916	16,814
Accumulated amortization	(15,923)	(15,696)
Net balance	$ 993	1,118
Acquired and Software for Internal Use | Minimum
Finite Lived Intangible Assets [Line Items]
Useful life	3 years
Acquired and Software for Internal Use | Maximum
Finite Lived Intangible Assets [Line Items]
Useful life	7 years
Software Marketed for External Sale
Finite Lived Intangible Assets [Line Items]
Useful life	3 years
Gross carrying amount	$ 20,510	17,563
Accumulated amortization	(8,514)	(6,696)
Net balance	$ 11,996	$ 10,867

Software - Additional Informati

Software - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Acquired and Software for Internal Use
Finite Lived Intangible Assets [Line Items]
Amortization expense	$ 0.1	$ 0.1	$ 0.2	$ 0.2
Acquired and Software for Internal Use | Minimum
Finite Lived Intangible Assets [Line Items]
Useful life	3 years		3 years
Acquired and Software for Internal Use | Maximum
Finite Lived Intangible Assets [Line Items]
Useful life	7 years		7 years
Software Marketed for External Sale
Finite Lived Intangible Assets [Line Items]
Useful life	3 years		3 years
Amortization expense	$ 0.9	$ 0.6	$ 1.8	$ 1.2

Software - Schedule of Estimate

Software - Schedule of Estimated Amortization Expense of Capitalized Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
2024 (July - December)	$ 2,395
2025	4,628
2026	3,700
2027	1,763
2028	503
Net balance	12,989	$ 11,985
Acquired and Internal Use Software
Finite Lived Intangible Assets [Line Items]
2024 (July - December)	234
2025	427
2026	311
2027	21
Net balance	993
Software Marketed for External Use
Finite Lived Intangible Assets [Line Items]
2024 (July - December)	2,161
2025	4,201
2026	3,389
2027	1,742
2028	503
Net balance	$ 11,996

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Adjustments to carrying value of goodwill	$ 0		$ 0
Percentage of market capitalization exceeded net assets	54%		54%		106%
Amortization expense	$ 400,000	$ 400,000	$ 800,000	$ 800,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Carrying Amount and Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 19,300	$ 19,300
Accumulated amortization	(12,374)	(11,625)
Total amortization	6,926	7,675
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	19,300	19,300
Accumulated amortization	(12,374)	(11,625)
Total amortization	$ 6,926	$ 7,675
Customer Relationships | Minimum
Finite Lived Intangible Assets [Line Items]
Useful life	5 years
Customer Relationships | Maximum
Finite Lived Intangible Assets [Line Items]
Useful life	18 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Estimated Amortization Expense of Capitalized Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net [Abstract]
2024 (July - December)	$ 749
2025	1,498
2026	1,498
2027	1,498
2028	1,144
Thereafter	539
Total amortization	$ 6,926	$ 7,675

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Debt outstanding	$ 68,437,000			$ 68,437,000
Proceeds from issuance of debt				45,000,000
Net interest expense	1,300,000		$ 600,000	2,200,000	$ 1,200,000
Term Loan Facility
Debt Instrument [Line Items]
Debt outstanding	$ 24,094,000			$ 24,094,000		$ 25,406,000
Debt instrument, maturity date				Nov. 17, 2026
Debt instrument, effective interest rate	9.17%			9.17%		7.69%
Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding	$ 45,000,000			$ 45,000,000
Debt Instrument amount available under credit facility	0			$ 0
Proceeds from issuance of debt	$ 5,000,000	$ 40,000,000
Debt instrument, maturity date				Nov. 17, 2026
Weighted-average interest rate	8.67%			8.67%

Debt - Schedule of Current and

Debt - Schedule of Current and Noncurrent Portions of Term Loan and Revolving Credit Facilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, Gross	$ 68,437
Less debt issuance costs	(236)	$ (294)
Total debt	68,858	25,112
Less current portion of term facility	(3,281)	(3,281)
Current portion of debt issuance costs	108	95
Total long-term external debt, net	65,685	21,926
Term Loan Facility
Debt Instrument [Line Items]
Long-term debt, Gross	24,094	$ 25,406
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, Gross	$ 45,000

Debt - Schedule of Maturities o

Debt - Schedule of Maturities on Debt Term Loan Facility and Revolver Credit Facility Outstanding (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Maturities of Long-Term Debt [Abstract]
2024 (July - December)	$ 1,312
2025	2,625
2026	64,500
Total	$ 68,437

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution, percent of match			100%
Defined contribution plan, maximum annual contributions per employee, percent			4%
Defined contribution plan employers matching contribution vesting period			2 years
Defined contribution plan, employer discretionary contribution amount	$ 0.2	$ 0.5	$ 0.4	$ 0.9
UK Plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employer matching contribution, percent of match			5%
Defined contribution plan, maximum annual contributions per employee, percent			7%
Defined contribution plan, employer discretionary contribution amount	$ 0.1	$ 0.1	$ 0.2	$ 0.2
Defined contribution plan, employee matching contribution, percent of match			3%
Defined contribution plan, employer matching contribution, percent of employees' gross pay			1%

Shareholders' equity - Addition

Shareholders' equity - Additional Information (Details) - USD ($) $ in Thousands				1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
		Mar. 18, 2024	Jan. 29, 2024	May 31, 2023	Jun. 30, 2019	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense								$ 5,147	$ 5,937
Shares granted								379,920
Share-based compensation income tax benefits						$ 0	$ 0	$ 0	100
Forfeiture rate utilized for estimating forfeitures of options granted								8.20%
Unrecognized pre-tax share based compensation expense related to unvested share option awards						$ 12,600		$ 12,600
Shares vested								103,718
Share options granted								1,475,625
Shares forfeited	[1]							87,663
Perforamance awards issued	[1]					744,879		744,879		556,340
Employee Share Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense						$ 200	$ 200	$ 400	$ 500
Shares issued under the ESPP						279,403	88,290	279,403	88,290
Number of outstanding shares added annually					275,000
Percentage of outstanding shares					1%
Percentage of purchase price shares on first trading day of offering period and purchase date					85%
Number of additional shares available under ESPP		275,000
Time-based Share Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share options contractual term								10 years
Share options vesting period								4 years
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Forfeiture rate utilized for estimating forfeitures of options and restricted share units granted								8.20%
Unrecognized pre-tax compensation expense, net of estimated forfeitures						$ 6,100		$ 6,100
Vesting period of restricted shares								4 years
Share-based payment award, requisite service period								4 years
Performance shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares forfeited										60,000
Perforamance awards issued				135,000
Performance options issued				60,000
Performance shares | Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares forfeited			62,500
Shares vesting, percentage				50%
Performance shares | Tranche Two
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted								45,000
Unrecognized pre-tax compensation expense, net of estimated forfeitures						$ 600		$ 600
Shares vesting, percentage				50%
2019 Share Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares authorized		1,320,000
Percentage of outstanding shares					5%
2019 Share Incentive Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of outstanding shares added annually					1,320,000
2019 Share Incentive Plan | RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares vested								103,718
Shares to pay employees' portion of minimum payroll withholding taxes								9,377
[1] 1 Includes time-based RSUs and the performance-based RSUs for which a grant date has been established, as described below.

Shareholders' equity - Schedule

Shareholders' equity - Schedule of Total Share-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based compensation expense	$ 2,561	$ 3,062	$ 5,147	$ 5,937
Cost of Revenues
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based compensation expense	51	59	84	115
Research and Development
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based compensation expense	920	1,388	1,865	2,657
Sales and Marketing
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based compensation expense	486	728	994	1,428
General and Administrative
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total share-based compensation expense	$ 1,104	$ 887	$ 2,204	$ 1,737

Shareholders' equity - Summary

Shareholders' equity - Summary of Stock Option Activity (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Options
Options outstanding, Beginning balance	4,689,916
Options granted	1,475,625
Options expired	(102,800)
Options forfeited	(184,967)
Options outstanding, Ending balance	5,877,774	4,689,916
Options exercisable	2,649,349
Options vested and expected to vest	5,740,183
Weighted average exercise price
Weighted average exercise price, Outstanding beginning balance	$ 11.98
Weighted average exercise price, Options granted	3.95
Weighted average exercise price, Options expired	16.24
Weighted average exercise price, Options forfeited	13.81
Weighted average exercise price, Outstanding ending balance	9.83	$ 11.98
Weighted average exercise price, Options exercisable	13.27
Weighted average exercise price, Options vested and expected to vest	$ 9.94
Weighted average remaining contractual term (years)
Weighted average remaining contractual term, Options outstanding	7 years 7 months 6 days	7 years 6 months
Weighted average remaining contractual term, Options exercisable	5 years 6 months
Aggregate intrinsic value, Outstanding		$ 617,623

Shareholders' equity - Schedu_2

Shareholders' equity - Schedule of Estimated Fair Value of Weighted Average Assumptions (Details) - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Equity [Abstract]
Risk-free interest rate	4.38%	3.66%
Weighted-average expected volatility	76.70%	67.60%
Expected term (in years)	5 years 9 months 18 days	5 years 7 months 6 days
Weighted average grant-date fair value per share of options granted	$ 2.71	$ 9.28

Shareholders' equity - Summar_2

Shareholders' equity - Summary of Restricted Shares Activity (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Number of Units
Number of Units, RSUs, beginning balance | shares	556,340	[1]
Number of Units, RSUs granted | shares	379,920
Number of Units, RSUs vested | shares	(103,718)
Number of Units, RSUs forfeited | shares	(87,663)	[1]
Number of Units, RSUs, ending balance | shares	744,879	[1]
Weighted average grant date fair value
Weighted average grant date fair value, RSUs, beginning balance | $ / shares	$ 16.92	[1]
Weighted average grant date fair value, RSUs granted | $ / shares	4.23
Weighted average grant date fair value, RSUs vested | $ / shares	19.72
Weighted average grant date fair value, RSUs forfeited | $ / shares	14.73	[1]
Weighted average grant date fair value, RSUs, ending balance | $ / shares	$ 10.31	[1]
[1] 1 Includes time-based RSUs and the performance-based RSUs for which a grant date has been established, as described below.

(Loss) earnings per share - Com

(Loss) earnings per share - Computation of Basic and Diluted Net Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net (loss) income	$ (9,143)	$ (2,642)	$ (35,590)	$ 1,634
Denominator:
Basic weighted average shares outstanding	27,902,956	27,432,705	27,876,280	27,387,112
Dilutive effect of share option awards				711,996
Dilutive effect of restricted share units and restricted share awards				212,160
Dilutive effect of employee share purchase plan				4,189
Diluted weighted average shares outstanding	27,902,956	27,432,705	27,876,280	28,315,457
Net (loss) earnings per share, basic	$ (0.33)	$ (0.1)	$ (1.28)	$ 0.06
Net (loss) earnings per share, diluted	$ (0.33)	$ (0.1)	$ (1.28)	$ 0.06

(Loss) earnings per share - Add

(Loss) earnings per share - Additional Information (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from computation of diluted net loss per share	1,762,872	1,708,983

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Schedule Of Income Taxes [Line Items]
(Benefit) provision for income taxes	$ (4,266)	$ (704)	$ 263	$ (166)
Effective tax rate	31.80%	21%	(0.70%)	(11.30%)
Statutory rate	21%	21%	21%	21%
Deferred tax assets, net	$ 0		$ 0		$ 3,694
UK
Schedule Of Income Taxes [Line Items]
Deferred tax assets, net					23,600
Change in valuation allowance	3,500		9,400
Valuation allowance	33,000		33,000
U.S
Schedule Of Income Taxes [Line Items]
Deferred tax assets, net	8,900		8,900		15,800
Deferred tax assets, decreased	8,100		6,900
Change in valuation allowance	8,100		3,200
Valuation allowance	$ 8,900		$ 8,900		$ 12,100

Segment Information - Additiona

Segment Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024 Segment
Segment Reporting [Abstract]
Number of reporting segments	1
Number of operating segment	1

Revenues from Contracts with _3

Revenues from Contracts with Customers - Schedule of Revenue by Product Category (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 45,946	$ 59,542	$ 88,283	$ 136,943
Sales Revenue, Product Line | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	100%	100%	100%	100%
Point-to-Multi-Point
Disaggregation of Revenue [Line Items]
Revenues	$ 19,647	$ 26,734	$ 39,068	$ 49,026
Point-to-Multi-Point | Sales Revenue, Product Line | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	43%	45%	44%	36%
Point-to-Point
Disaggregation of Revenue [Line Items]
Revenues	$ 13,656	$ 25,074	$ 28,067	$ 43,082
Point-to-Point | Sales Revenue, Product Line | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	30%	42%	32%	31%
Enterprise
Disaggregation of Revenue [Line Items]
Revenues	$ 11,310	$ 6,420	$ 18,473	$ 42,076
Enterprise | Sales Revenue, Product Line | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	24%	11%	21%	31%
Other
Disaggregation of Revenue [Line Items]
Revenues	$ 1,333	$ 1,314	$ 2,675	$ 2,759
Other | Sales Revenue, Product Line | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	3%	2%	3%	2%

Revenues from Contracts with _4

Revenues from Contracts with Customers - Schedule of Revenue by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 45,946	$ 59,542	$ 88,283	$ 136,943
Sales Revenue, Product Line | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	100%	100%	100%	100%
North America
Disaggregation of Revenue [Line Items]
Revenues	$ 20,647	$ 39,526	$ 45,696	$ 87,119
North America | Sales Revenue, Product Line | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	45%	67%	52%	64%
Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Revenues	$ 15,003	$ 6,769	$ 23,413	$ 26,477
Europe, Middle East and Africa | Sales Revenue, Product Line | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	33%	11%	27%	19%
Caribbean and Latin America
Disaggregation of Revenue [Line Items]
Revenues	$ 5,306	$ 6,015	$ 10,198	$ 9,700
Caribbean and Latin America | Sales Revenue, Product Line | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	11%	10%	11%	7%
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	$ 4,990	$ 7,232	$ 8,976	$ 13,647
Asia Pacific | Sales Revenue, Product Line | Geographic Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage	11%	12%	10%	10%

Revenues from Contracts with _5

Revenues from Contracts with Customers - Summary of Contract Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Trade accounts receivable, net of allowance for credit losses	$ 56,604	$ 63,656
Deferred revenue - current	8,261	8,765
Deferred revenue - noncurrent	10,338	10,473
Refund liability	$ 7,270	$ 8,723

Revenues from Contracts with _6

Revenues from Contracts with Customers - Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Customer	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) Customer
Revenue From Contract With Customer [Line Items]
Deferred revenue	$ 18.6		$ 18.6		$ 19.2
Revenue recognized	$ 2.4	$ 2.1	$ 5.1	$ 5.5
Revenue practical expedient, incremental cost of obtaining contract [true/false]			true
Minimum
Revenue From Contract With Customer [Line Items]
Collection period for trade accounts receivable			30 days
Maximum
Revenue From Contract With Customer [Line Items]
Collection period for trade accounts receivable			60 days
Customer Concentration Risk | Accounts Receivables
Revenue From Contract With Customer [Line Items]
Number of customers | Customer			1		1
Customer Concentration Risk | Accounts Receivables | Customer A
Revenue From Contract With Customer [Line Items]
Concentration risk, percentage			10%		10%

Revenues from Contracts with _7

Revenues from Contracts with Customers - Additional Information (Details 1) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Deferred revenue	$ 18.6	$ 19.2
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligation expected to be recognized period		1 year
Deferred revenue		$ 8.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligation expected to be recognized period	1 year
Deferred revenue	$ 8.3

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information related to Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Operating leases:
Operating lease assets	$ 6,931	$ 7,894
Noncurrent operating lease liabilities	$ 7,046	$ 6,595

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Vector Capital Management L.P.
Related Party Transaction [Line Items]
Related party transactions	$ 0	$ 0	$ 0	$ 0

Restructuring - Additional Info

Restructuring - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring liability		$ 0.2	$ 0.4
Additional restructuring charges	$ 0.2	$ 0.5

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Liability Activity (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Restructuring and Related Activities [Abstract]
Restructuring liability at December 31, 2023	$ 363
Restructuring charges	509
Costs paid	(700)
Restructuring liability at March 31, 2024	$ 172

Subsequent Events - Additional

Subsequent Events - Additional Information (Details)	Jun. 30, 2024 USD ($)
Revolving Credit Facility
Subsequent Event [Line Items]
Drew down amount under credit facility	$ 0