Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2019	Aug. 08, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
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	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,632,246
Entity Current Reporting Status	No
Entity File Number	001-38952
Entity Address, Address Line One	3800 Golf Road
Entity Address, Address Line Two	Suite 360
Entity Address, City or Town	Rolling Meadows
Entity Address, State or Province	Illinois
Entity Address, Postal Zip Code	60008
City Area Code	345
Local Phone Number	943-3100

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets
Cash	$ 71,246	$ 4,441
Receivables, net of allowances	62,603	60,389
Inventories, net	36,978	30,710
Recoverable income taxes		679
Prepaid expenses	4,064	3,465
Other current assets	4,138	5,889
Total current assets	179,029	105,573
Noncurrent assets
Property and equipment, net	8,097	7,965
Software, net	4,110	3,944
Operating lease assets	7,326
Intangible assets, net	7,905	8,493
Goodwill	8,060	8,060
Deferred tax assets, net	519	8,022
TOTAL ASSETS	215,046	142,057
Current liabilities
Accounts payable	28,310	23,710
Accrued liabilities	21,736	18,263
Employee compensation	6,950	4,377
Current portion of long-term external debt	9,032	8,836
Payable to Sponsor	5,750	5,582
Deferred revenues	2,203	2,770
Other current liabilities	5,787	2,761
Total current liabilities	79,768	66,299
Noncurrent liabilities
Long-term external debt	89,371	94,183
Deferred revenues	1,916	1,541
Noncurrent operating lease liabilities	6,058
Other noncurrent liabilities		605
Total liabilities	177,113	162,628
Shareholders' (deficit) equity
Share capital; $0.0001 par value; 500,000,000 shares authorized at December 31, 2018 and June 30, 2019; 77,179 shares issued and outstanding at December 31, 2018 and 25,726,629 issued and 25,632,246 outstanding at June 30, 2019	3
Additional paid in capital	103,543	772
Capital contribution		24,651
Treasury shares, at cost, 0 shares at December 31, 2018 and 94,383 shares at June 30, 2019	(1,133)
Accumulated deficit	(64,285)	(45,773)
Accumulated other comprehensive income (loss)	(195)	(221)
Total shareholders’ (deficit) equity	37,933	(20,571)
TOTAL LIABILITIES AND (DEFICIT) EQUITY	$ 215,046	$ 142,057

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2019	Jun. 06, 2019	Apr. 23, 2019	Dec. 31, 2018	Oct. 28, 2011
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001	$ 0.01	$ 0.0001	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000	5,000,000	500,000,000
Common stock, shares issued	25,726,629	77,179	771.79	77,179	771.79
Common stock, shares, outstanding	25,632,246	77,179	771.79	77,179
Treasury stock, shares	94,383			0

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenues	$ 69,151	$ 61,019	$ 137,263	$ 119,472
Cost of revenues	34,839	31,710	71,161	61,960
Gross profit	34,312	29,309	66,102	57,512
Operating expenses
Research and development	15,189	9,688	25,671	19,073
Sales and marketing	14,227	10,066	24,445	20,485
General and administrative	13,063	4,323	18,193	8,644
Depreciation and amortization	1,227	2,338	2,508	4,708
Total operating expenses	43,706	26,415	70,817	52,910
Operating income (loss)	(9,394)	2,894	(4,715)	4,602
Interest expense	2,301	2,088	4,569	3,846
Other expense	56	110	190	341
Income (loss) before income taxes	(11,751)	696	(9,474)	415
Provision for income taxes	8,623	171	9,038	117
Net income (loss)	$ (20,374)	$ 525	$ (18,512)	$ 298
Earnings (loss) per share
Basic and diluted	$ (1.47)	$ 0.04	$ (1.35)	$ 0.02
Weighted-average number of shares outstanding to compute net income (loss) per share
Basic and diluted	13,865,111	13,600,411	13,732,760	13,600,411

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ (20,374)	$ 525	$ (18,512)	$ 298
Other comprehensive (loss) income
Foreign currency translation adjustment	28	(277)	26	(308)
Comprehensive income (loss)	$ (20,346)	$ 248	$ (18,486)	$ (10)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Shareholders' (Deficit) Equity - USD ($) $ in Thousands	Total	Share Capital	Additional Paid in Capital	Capital Contribution	Treasury Shares	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2017	$ (17,826)		$ 772	$ 24,651		$ (43,400)	$ 151
Beginning balance, shares at Dec. 31, 2017	77,179	77,000
Adjustment for adoption of ASC 606 \| ASC 606	$ (860)					(860)
Net income (loss)	298					298
Foreign currency translation adjustment	(308)						(308)
Ending balance at Jun. 30, 2018	(18,696)		772	24,651		(43,962)	(157)
Ending balance, shares at Jun. 30, 2018		77,000
Beginning balance at Mar. 31, 2018	(18,944)		772	24,651		(44,487)	120
Beginning balance, shares at Mar. 31, 2018		77,000
Net income (loss)	525					525
Foreign currency translation adjustment	(277)						(277)
Ending balance at Jun. 30, 2018	(18,696)		772	24,651		(43,962)	(157)
Ending balance, shares at Jun. 30, 2018		77,000
Beginning balance at Dec. 31, 2018	$ (20,571)		772	24,651		(45,773)	(221)
Beginning balance, shares at Dec. 31, 2018	77,179	77,000
Net income (loss)	$ (18,512)					(18,512)
Share-based compensation	16,078		16,078
Issuance of shares in Recapitalization and related reclassification	2	$ 2	24,651	(24,651)
Issuance of shares in Recapitalization and related reclassification ,shares		19,849,000
Issuance of shares in initial public offering, net of issuance costs	$ 61,735	$ 1	61,734
Issuance of shares in initial public offering, net of issuance costs, shares	5,800,000	5,800,000
Treasury shares withheld for net settlement in Recapitalization	$ (825)		308		$ (1,133)
Treasury shares withheld for net settlement in Recapitalization, shares		$ (94)
Foreign currency translation adjustment	26						26
Ending balance at Jun. 30, 2019	$ 37,933	$ 3	103,543		(1,133)	(64,285)	(195)
Ending balance, shares at Jun. 30, 2019	25,632,246	25,632,000
Beginning balance at Mar. 31, 2019	$ (18,711)		772	24,651		(43,911)	(223)
Beginning balance, shares at Mar. 31, 2019		77,000
Net income (loss)	(20,374)					(20,374)
Share-based compensation	16,078		16,078
Issuance of shares in Recapitalization and related reclassification	2	$ 2	24,651	$ (24,651)
Issuance of shares in Recapitalization and related reclassification ,shares		19,849,000
Issuance of shares in initial public offering, net of issuance costs	61,735	$ 1	61,734
Issuance of shares in initial public offering, net of issuance costs, shares		5,800,000
Treasury shares withheld for net settlement in Recapitalization	(825)		308		(1,133)
Treasury shares withheld for net settlement in Recapitalization, shares		$ (94)
Foreign currency translation adjustment	28						28
Ending balance at Jun. 30, 2019	$ 37,933	$ 3	$ 103,543		$ (1,133)	$ (64,285)	$ (195)
Ending balance, shares at Jun. 30, 2019	25,632,246	25,632,000

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income (loss)	$ (18,512)	$ 298
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Depreciation	1,713	1,185
Amortization of software and intangible assets	1,040	3,616
Amortization of debt issuance costs	342	283
Share-based compensation	16,078
Deferred income taxes	7,508	42
Other	437	625
Change in assets and liabilities:
Receivables	(1,770)	(2,549)
Inventories	(6,685)	(5,457)
Accounts payable	4,566	1,290
Accrued employee compensation	1,737	(4,849)
Accrued liabilities	(118)	535
Accrued Sponsor interest and payables	168	232
Other assets and liabilities	2,705	(3,150)
Net cash (used in) provided by operating activities	9,209	(7,899)
Cash flows from investing activities:
Purchase of property and equipment	(1,707)	(2,467)
Purchase of software	(715)	(775)
Net cash used in investing activities	(2,422)	(3,242)
Cash flows from financing activities:
Proceeds from issuance of revolver debt		9,962
Repayment of term loan	(4,750)	(2,250)
Payment of debt issuance costs	(208)
Proceeds from initial public offering, net of underwriting commission and fees	65,988
Payment of deferred offering costs	(1,007)
Net cash provided by financing activities	60,023	7,712
Effect of exchange rate on cash	(5)	(16)
Net (decrease) increase in cash	66,805	(3,445)
Cash, beginning of period	4,441	7,377
Cash, end of period	71,246	3,932
Supplemental disclosure of cash flow information:
Income taxes paid	356	466
Interest paid	3,899	$ 1,566
Significant non-cash activities:
Issuance of shares for unreturned capital and accumulated yield	49,252
Deferred offering costs included in accrued liabilities	$ 3,246

Business and Significant Accounting Policies

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Business and significant accounting policies

Note 1. Business and significant accounting policies

Business

Cambium Networks Corporation (“Cambium” 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 Consulting Private Limited (India). On October 28, 2011, Cambium acquired the point-to-point (“PTP”) and point-to-multi-point (“PMP”) businesses from Motorola Solutions, Inc. The acquisition was funded by investment funds affiliated with Vector Capital (“Sponsor”) and Cambium became the renamed entity subsequent to the acquisition.

Cambium Networks Corporation and its wholly owned subsidiaries provide wireless broadband networking solutions for network operators, including medium-sized wireless internet service providers, enterprises and government agencies.

The Company operates on a calendar year ending December 31. As such, all references to 2018 and 2019 contained within these notes relate to the calendar year, unless otherwise indicated.

Basis of Presentation

The unaudited consolidated financial statements include the accounts of Cambium Networks Corporation and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. The consolidated financial statements as of June 30, 2019, and for the three and six-month periods ended June 30, 2018 and 2019, are unaudited. The unaudited consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements other than the adoption with effect from January 1, 2019 of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 842, Leases, 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, 2019 and results of operations for the three and six-month periods ended June 30, 2018 and 2019 and cash flows for the six-month period ended June 30, 2018 and 2019. The consolidated balance sheet as of December 31, 2018, was derived from the audited financial statements.

On June 6, 2019, the Company completed a 100:1 share subdivision to its sole shareholder of record. Accordingly, all share and per share amounts for all periods presented in these consolidated financial statements and notes thereto have been adjusted retrospectively to reflect the subdivision.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principals generally accepted in the United States (“GAAP”) have been condensed or omitted. The consolidated financial statements contained herein should be read in conjunction with the Company’s consolidated financial statements and notes thereto contained in its Prospectus filed pursuant to Rule 424(B)(4), as filed on June 26, 2019. The results of operations for the three and six-month periods ended June 30, 2019 are not necessarily indicative of the operating results to be expected for the full year. Certain amounts in prior periods have been adjusted to conform with the current year presentation.

Initial public offering

The Company’s registration statement on Form S-1 (the “IPO Registration Statement”) related to its initial public offering (“IPO”) was declared effective on June 25, 2019, and the Company’s ordinary shares began trading on the Nasdaq Global Market on June 26, 2019. On June 28, 2019, the Company completed its IPO, in which the Company sold 5,800,000 shares at a price to the public of $12.00 per share. The Company received aggregate net proceeds of $66.0 million after deducting underwriting discounts and commissions of $3.6 million. The Company has already paid offering costs of $1.0 million, and will paydown debt of $30.7 million and additional offering expenses of $3.3 million subject to certain cost reimbursements in future quarters as indicated in the Company’s IPO Registration Statement. See Note 20 – Subsequent events for additional information.

Immediately prior to the completion of the IPO, the Company effected a recapitalization, which comprised (i) an increase in the authorized and outstanding shares held by Vector Cambium Holdings (Cayman), L.P. (“VCH, L.P.”) and (ii) the exchange of the vested share-based compensation awards held by its employees for the Company’s shares and unvested share-based compensation awards for restricted share awards or restricted share units issued by the Company, in each case on a value-for-value basis (the “Recapitalization”).

Immediately prior to the completion of the IPO, the Company filed its Amended and Restated Memorandum and Articles of Association, which authorizes a total of 500,000,000 ordinary shares. Upon the filing of the Amended and Restated Memorandum and articles of Association, based on the IPO price of $12.00 per share, and as part of the Recapitalization descibed above, the Company (i) issued additional shares to VCH, L.P., such that its aggregate shareholding in it is now 17,704,754 shares, (ii) issued 2,127,492 net shares to its employees and service providers and (iii) granted 240,037 restricted share awards or restricted share units in respect of shares that would be subject to vesting based on continued employment with or provision of services to the Company. The Company recorded non-cash share-based compensation expense of $15.4 million in June 2019 related to the aforementioned issuance of the shares to its employees and service providers. In addition, the Company issued an aggregate 2,172,000 share options and restricted share units to employees and directors, effective upon pricing of the IPO of $12.00 per share and recorded an additional $0.7 million of share-based compensation expense related to these awards.

Use of Accounting Estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates these estimates, including those related to the allocation of selling prices arrangements with multiple performance obligations, provision for excess and obsolete inventory, allowance for doubtful accounts, the carrying amount of estimated inventory returns, the estimated amount expected to be refunded to customers in respect of inventory returns, provision for warranty claims, useful lives of long-lived assets and impairment assessments, fair value of equity awards granted to employees and the associated forfeiture rates, provision for income taxes, recoverability of deferred tax assets, and deferred tax liabilities related to investments in subsidiaries. The Company bases estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates.

Segments

Management has determined that it operates as one operating segment and one reporting unit as it only reports financial information on an aggregate and consolidated basis to its Chief Executive Officer, who is the Company’s chief operating decision maker. Decisions about resource allocation or operating performance assessments are not made below a total company level. Consequently, impairment testing is performed at the consolidated level as one unit. See Note 16 – Segment information and revenues by geography for additional informaiton.

Recognition of revenues

Revenues consist primarily of revenues from the sale of hardware products with essential embedded software. Revenues also include limited amounts for software products and extended warranty on hardware products. Substantially all products are sold through distributors and other channel partners, such as resellers and systems integrators.

The Company adopted Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”), and all the related amendments on January 1, 2018, applying the modified retrospective method to all contracts not completed as of the date of adoption. The Company assessed the impact of ASC 606 using the prescribed 5-step model and based on this assessments, concluded the recognition of revenue under ASC 606 is generally consistent with how revenue was being recognized prior to the adoption of the new standard. See Note 17 – Revenue from contracts with customers for further details on the impact of adoption.

In accordance with ASC 606, 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 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. Exchanges made as part of the Company’s stock rotation program meet the definition of a right of return under ASC 606. 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 volume-based rebates and cooperative 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 embedded software transferred at a point in time is recognized when obligations under the terms of the contract are satisfied. Generally, this occurs when the transfer of control of the asset, which is at the time of shipment. Software revenue is from perpetual license software and 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.

The Company enters into revenue arrangements that may consist of multiple performance obligations, such as hardware with embedded essential software 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 simlar 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.

Cash

The Company deposits cash with financial institutions that management believes are of high credit quality. The Company’s cash consists primarily of U.S. dollar denominated demand accounts.

Receivables and concentration of credit risk

Trade accounts receivable are recorded at invoiced amounts, net of the allowance for doubtful accounts. 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 their customers are generally net 30 to 60 days. The Company had one customer representing more than 10% of trade receivables at June 30, 2019 and one customer at December 31, 2018. The Company had two customers representing more than 10% of revenues for the three-months ended June 30, 2019 and one customer for the three-months ended June 30, 2018. The Company had three customers representing more than 10% of revenues for the six-months ended June 30, 2019 and two customers for the six-months ended June 30, 2018.

The Company records an allowance for doubtful accounts for estimated probable losses on uncollectible accounts receivable. In estimating the allowance, management considers the aging of the accounts receivable, the Company’s historical write offs, the credit worthiness of each distributor based on payment history, and general economic conditions, among other factors.

Inventory

The Company’s inventories are primarily finished goods for resale and, to a lesser extent, raw materials, which have been either consigned to the Company’s third-party manufacturers or are held by the Company. Inventories are stated at the lower of cost or net realizable value. In determining the cost of raw materials, consumables and goods purchased for resale, the weighted average purchase price is used. For finished goods, cost is computed as production cost including capitalized inbound freight costs.

The valuation of inventory also requires the Company to estimate excess or obsolete inventory. The determination of excess or obsolete inventory is estimated based on a comparison of the quantity and cost of inventory on hand to the Company’s forecast of customer demand and in consideration of historical usage. Any adjustments to the valuation of inventory are included in cost of revenues.

Deferred offering costs

Deferred offering costs, consisting of legal, accounting and other fees and costs related to the IPO are capitalized and reflected in other current assets on the Company’s consolidated balance sheets. There was $2.0 million of deferred offering costs capitalized at December 31, 2018. The Company deferred an additional $2.3 million of costs in 2019. All $4.3 million was offset against IPO proceeds upon closing of the offering on June 28, 2019.

Property and equipment

Per ASC 360, Property, Plant, and Equipment, property and equipment are stated at cost. The Company calculates depreciation expense using the straight-line method over the estimated useful lives of each asset based on its asset class. Leasehold improvements are amortized over the shorter of their useful live or the lease term. See Note 4 – Property and equipment for the useful lives for each asset class.

Upon retirement or disposition, the asset cost and related accumulated depreciation are removed with any gain or loss recognized in the consolidated statements of operations.

Software

Software may be purchased or developed internally for internal use. Costs related to internal use software are accounted for in accordance with ASC 350-40, Internal Use Software, and ASC 350-50, Website Development Costs, where the expected life is greater than one year. Costs are expensed as incurred during the preliminary project stage of an internal use software project. Costs are capitalized once the project has been approved by management and is in the application development stage. Post implementation/operation costs, such as maintenance and training costs, are expensed as incurred. Any costs incurred to provide upgrades or enhancements are capitalized only if they provide additional functionality that did not previously exist.

Amortization of internal use software begins when the software is ready for internal use and is amortized over its estimated useful life. The amortization expense for internal use software is computed using the straight-line method over three to seven years.

Costs related to certain software, which is available for sale, are capitalized in accordance with ASC 985-20, Costs of Software to be Sold, Leased, or Marketed, when the resulting product reaches technological feasibility. The Company generally determines technological feasibility when it has a detailed program design that takes product function, feature and technical requirements to their most detailed, logical form and the product is ready for coding. The Company does not typically capitalize costs related to the development of first-generation product offerings as technological feasibility generally coincides with general availability of the software.

Amortization of software costs to be sold or marketed externally begins when the product is available for sale to customers and is amortized over its estimated useful life, which is determined on a product-by-product basis. The amortization expense for available for sale software is computed using the straight-line method over three years.

Goodwill and intangible assets

Goodwill represents the excess purchase price over the estimated fair value of net assets acquired in a business combination. Goodwill is measured at cost and is not amortized. Intangible assets acquired, either individually or with a group of assets, are initially recognized and measured at fair value. The Company uses third-party specialists to assist management to determine fair values and estimated useful lives for intangible assets acquired in business combinations. Intangible assets with finite useful lives are amortized on a straight-line basis over their estimated useful lives of between 7 and 18 years. The Company has no intangible assets with indefinite lives.

In accordance with ASC 350, Goodwill and Other, the Company assesses goodwill for impairment at least annually and whenever events or circumstances that would more likely than not, reduce the fair value below its carrying value. For 2018, the Company tested goodwill for impairment at December 31.

Annual impairment testing is completed at the reporting unit level. Management has concluded the Company operates as one reporting unit and one operating segment for annual impairment testing. Refer to Note 16 – Segment information and revenues by geography for more information.

The Company early adopted Accounting Standard Update (“ASU”) 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. In completing its impairment evaluations, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. In performing this qualitative assessment, the Company assesses relevant events and changes in circumstances, including industry and market conditions, observable earnings before interest, taxes, depreciation and amortization (“EBITDA”) multiples for peer companies, operating results, business plans, and entity-specific events that would affect the fair value or the carrying amount of a reporting unit. If it is more likely than not that the fair value of a reporting unit is less than its carrying value, the fair value of the reporting unit is compared to its carrying value. If the fair value of the reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired and no further steps are required.

Impairment of long-lived assets

The Company evaluates its long-lived assets, including property and equipment, software and intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying value of these assets may not be recoverable. An impairment loss is recognized when the net book value of such assets exceeds the estimated future undiscounted cash flows attributable to the assets or asset group. If impairment is indicated, the asset is written down to its estimated fair value. The Company did not recognize any impairment losses for the three or six-months ended June 30, 2018 and 2019.

Leases

The Company has both cancelable and noncancelable operating leases for office space, vehicles, and office equipment. The Company adopted ASC 842, Leases, and all the related amendments on January 1, 2019, using the optional transition method to not apply the lease standard in the comparative periods presented. The Company elected the “practical expedient package” which permitted the Company to not reassess prior conclusions about lease identification, lease classification, and initial direct costs. The Company also elected the short-term lease recognition for all leases that qualify and to combine the lease and non-lease components into a single lease component for all of its leases.

In accordance with ASC 842, the Company recorded a right-of-use asset and lease liability on its consolidated balance sheet for all leases that qualified. The operating lease liability represents the present value of the future minimum lease payments over the lease term using the Company’s incremental borrowing rate at the lease commencement date. The right-of-use asset reflects adjustments for the derecognition of deferred rent and prepaid rent. Leases with an initial term of 12 months or less are not recorded on the Company’s consolidated balance sheet, and are expensed on a straight-line basis over the lease term. The Company does not include any renewal periods in the lease term for its leases as sufficient economic factors do not exist that would compel it to continue to use the underlying asset beyond the initial non-cancelable term. See Note 18 – Leases for further details.

Through December 31, 2018, the Company classified leases in accordance with guidance in ASC 840, Leases. For any leases that contained lease escalation or rent concession provisions, the Company recorded the total rent expense during the lease term on a straight-line basis over the term of the lease. The Company recorded the difference between the rent paid and the straight-line rent as an increase or decrease to the deferred rent liability included in accrued liabilities in its consolidated balance sheet.

Product warranties

The Company offers a standard one-year warranty on most of its products, and records a liability within current liabilities for the estimated future costs associated with potential warranty claims. Provisions for warranty claims are recorded at the time products are sold based on historical experience factors including product failure rates, material usage, and service delivery cost incurred in correcting product failures. These provisions are reviewed and adjusted by management periodically to reflect actual and anticipated experience. The warranty costs are reflected in the Company’s consolidated statements of operations within cost of revenues. In certain circumstances, the Company may have recourse from its contract manufacturers for replacement cost of defective products, which it also factors into its warranty liability assessment.

Income taxes

The Company accounts for income taxes under the asset and liabilty method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in its financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement carrying amount and the tax basis of assets and liabilities using enacted income tax rates in effect for the year in which the differences are expected to be recovered or settled. The effect of a change in income tax rates on deferred tax assets and liabilities is recognized in the income tax provision in the period that includes the enactment date.

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 not be realized and adjusts the valuation allowances accordingly. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations.

In general, it is the practice and intention of the Company to reinvest the earnings of its subsidiaries in those operations. As of June 30, 2018 and 2019, the Company had not made a provision for withholding taxes on approximately $4.7 million and $7.5 million, respectively, of undistributed earnings that are indefinitely reinvested. Generally, such amounts become subject to taxation upon the remittance of dividends and under certain other circumstances. It is not practicable to estimate the amount of deferred tax liability to the undistributed earnings in these subsidiaries.

The Company may be subject to income tax audits in all of the jurisdictions in which it operates and, as a result, must also assess exposures to any potential issues arising from current or future audits of current and prior years’ tax returns. Accordingly, the Company must assess such potential exposures and, where necessary, provide for any expected loss. The Company recognizes the benefit of a tax position if it is more likely than not to be sustained. Recognized tax positions are measured at the largest amount more likely than not to be realized upon settlement. To the extent that the Company establishes a liability, its income tax expense would be increased. If the Company ultimately determines that payment of these amounts is unnecessary, it reverses the liability and recognizes an income tax benefit during the period in which new information becomes available indicating that the liability is no longer necessary. The Company records an additional income tax expense in the period in which new information becomes available indicating that the income tax liability is greater than its original estimate. The Company did not record an adjustment for the period ended December 31, 2018 or June 30, 2019.

Share-based compensation

The Company accounts for share-based compensation in accordance with the guidance in ASC 718, Share-based Payments, by measuring and recognizing compensation expense for all share-based payments based on estimated grant date fair values for equity settled awards and period-end fair values for cash settled awards. Employees were granted both equity settled and cash settled awards under the Vector Holdings Limited Partnership Agreement (VCH LPA) that included both time-based and performance-based equity awards and were subject to the achievement of varying participation thresholds and contingent conditions prior to being eligible to participate in distributions from Vector Cambium Holdings (Cayman) LP, (“VCH, L.P.”). For the year ended December 31, 2018, both equity-settled and cash-settled awards had not met all of the contingent conditions. Accordingly, the Company did not recognize any share-based compensation expense in its financial statements.

Prior to the IPO, the Company effected a Recapitalization, which exchanged the vested share-based compensation awards held by its employees for shares and unvested share-based compensation awards for restricted shares or restricted share units issued by the Company, on a value-for-value basis. After completion of the Recapitalization and the IPO, the Company is no longer party to nor subject to any obligations under the VCH LPA. As a result of the Recapitalization and the completion of the Company’s IPO, the contingent conditions had been met on some of the share-based compensation awards and the Company recorded share-based compensation of $15.4 million related to these awards.

Following the IPO, awards are granted under the 2019 Share Incentive Plan. The 2019 Share Incentive Plan provides for the grant of incentive share options, nonqualified share options, share appreciation rights, restricted share awards, restricted share units, or other share-based awards and performance awards. Effective upon pricing of the IPO of $12.00 per share, the Company issued an aggregate 2,172,000 share options and restricted share units to employees and directors and recorded an additional $0.7 million of share-based compensation expense related to these awards. See Note 11 – Share-based compensation.

Contingencies

In accordance with ASC 450, Contingencies, the Company periodically evaluates all pending or threatened contingencies and any commitments, if any, that are reasonably likely to have a material adverse effect on its results of operations, financial position or cash flows. Liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred.

Foreign currency translation

The Company records any gain and loss associated with foreign currencies in accordance with ASC 830, Foreign Currency Matters. The reporting currency of the Company is the U.S. dollar and the functional currency is the local currency of each operating subsidiary other than for Cambium Networks, Ltd. (UK) for which the functional currency is the U.S. dollar. Local currency denominated monetary assets and liabilities are translated at exchange rates in effect at the balance sheet date, and revenues, cost of revenues and expenses are translated at the average exchange rate in effect during the applicable period. The Company recognizes foreign exchange gains and losses in other expense on its consolidated statements of operations and accumulated other comprehensive income on its consolidated balance sheets.

Research and development costs

Research and development expenses consists primarily of salary and benefit expenses for employees and contractors engaged in research, design and development activities, and costs for prototypes, facilities and travel costs. For 2019, research and development expenses also include share-based compensation expenses. The Company also incurs research and development costs associated with the development of software for both internal use and to be marketed externally. Research and development costs, other than those associated with the development of software that meet the criteria for capitalization, are expensed as incurred.

For the three-month period ended June 30, 2018 and 2019, the Company expensed $9.7 million and $15.2 million, which included $0 and $4.9 million of share-based compensation expense, respectively, of research and development costs. For the six-month period ended June 30, 2018 and 2019, the Company expensed $19.1 million and $25.7 million, which included $0 and $4.9 million of share-based compensation expense, respectively, of research and development costs.

Recently adopted accounting pronouncements

In February 2016, the FASB issued ASU 2016-02, Leases, which sets out the principals for the recognition, measurement, presentation and disclosures of leases for both parties to a contract (i.e., lessees and lessors). This was subsequently amended by ASU 2018-01, Land Easement Practical Expedient for Transition to Topic 842, ASU 2018-10, Codification Improvements to Topic 842, Leases, and ASU 2018-11, Targeted Improvements, (collectively codified as “ASC 842”).

ASC 842 requires lessees to recognize right-of-use (“ROU”) assets and lease liabilities on the balance sheet for all leases unless a lessee elects not to apply ASC 842 to short-term leases. In addition, this standard requires both lessees and lessors to disclose certain key information about lease transactions. The Company adopted ASC 842 on January 1, 2019 (the effective date), using the optional transition method to not apply the new lease standard in the comparative periods presented and elected the “practical expedient package”, which permits the Company to not reassess prior conclusions about lease identification, lease classification, and initial direct costs. ASC 842 also provides practical expedients for the Company’s ongoing accounting. The Company elected the short-term lease recognition for all leases that qualify and to combine lease and non-lease components into a single lease component for all of its leases. On January 1, 2019, the Company recognized ROU assets and operating lease liabilities of $8.2 million and $8.8 million, respectively. The difference between ROU assets and operating lease liabilities recognized is due to deferred rent recorded under prior lease accounting standards. ASC 842 requires such balances to be reclassified against ROU assets at transition. Refer to Note 18 – Leases for further details.

In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This ASU provides an option to reclassify stranded tax effects within accumulated other comprehensive income (“AOCI”) to retained earnings in the period in which the effect of the change in the U.S. federal corporate income tax rate in the 2018 U.S. Tax Cuts and Job Act, and information about the income tax effects that are reclassified. The Company adopted ASU 2018-02 as of January 1, 2019. The adoption of ASU 2018-02 had no impact on the Company’s consolidated financial statements.

Recently issued accounting pronouncements

In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs incurred in a Cloud Computing Arrangement That is a Service Contract. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the amendments in this update. The amendments in this update are effective for interim and annual periods for the Company beginning on January 1, 2020, with early adoption permitted. The amendments in this update should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is assessing the impact the adoption of ASU 2018-15 will have on its consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326). ASU 2016-13 sets forth an expected credit loss model which requires the measurement of expected credit losses for financial instruments based on historical experience, current conditions and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost, and certain off-balance sheet credit exposures. ASU 2016-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. Adoption will require a modified retrospective transition. This ASU is effective for the Company in the first quarter of fiscal 2020. The Company is currently assessing the impact of ASU 2016-13 on its consolidated financial statements.

Fair value

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair value

Note 2. Fair value

ASC 820, Fair Value Measurements and Disclosures (“ASC 820”) defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. ASC 820 requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. The fair value hierarchy prioritizes the inputs into three levels that may be used in measuring fair value as follows:

Level 1 – observable inputs which include quoted prices in active markets for identical assets or liabilities.

Level 2 – inputs which include observable inputs other than Level 1, such as quoted prices for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability.

Level 3 – inputs which include unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the underlying assets or liability. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques, as well as significant management judgment or estimation.

Financial assets and liabilities are classified, in their entirety, based on the lowest level of input that is significant to the fair value measurement. Our assessment of the significance of a particular input, to the fair value measurement requires judgment, and may affect the valuation of assets and liabilities and their placement within the fair value hierarchy levels.

Cash

The fair values of cash approximate their carrying values.

Net Debt

The fair value of the external debt approximates its carrying value because the terms and conditions approximate the terms and conditions of current market debt available to the Company. The external debt was estimated based on the current rates offered to the Company for debt with the same remaining maturities.

The fair value of the Payable to Sponsor approximates its carrying value given the remaining duration of the balance.

As of December 31, 2018 and June 30, 2019, the fair value hierarchy for the Company’s financial assets and liabilities was as follows (in thousands):

	December 31, 2018								June 30, 2019
	Fair Value		Level I		Level II		Level III		Fair Value		Level I		Level II		Level III
									(unaudited)
Assets:
Cash	$	4,441	$	4,441	$	—	$	—	$	71,246	$	71,246	$	—	$	—
Liabilities:
External debt	$	105,462	$	—	$	105,462	$	—	$	100,712	$	—	$	100,712	$	—
Payable to Sponsor	$	5,582	$	5,582	$	—	$	—	$	5,750	$	5,750	$	—	$	—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Balance sheet components

6 Months Ended

Jun. 30, 2019

Balance Sheet Related Disclosures [Abstract]

Balance sheet components

Note 3. Balance sheet components

Accounts Receivable, net

Receivables are recorded at invoiced amounts, net of the allowance for doubtful accounts. The receivables activity was as follows (in thousands):

	December 31,			June 30,
	2018			2019
				(unaudited)
Trade accounts receivable	$	60,235		$	62,912
Other receivables		657			219
Total receivables		60,892			63,131
Less: Allowance for doubtful accounts		(503	)		(528	)
Receivables, net	$	60,389		$	62,603

The allowance for doubtful accounts activity was as follows (in thousands):

	Year ended December 31,			Six months ended June 30,
	2018			2019
				(unaudited)
Beginning balance	$	823		$	503
Increase, charged to expense		332			219
Recoveries		(213	)		(142	)
Reclassification to non-current		(180	)		—
Amounts written-off		(259	)		(52	)
Ending balance	$	503		$	528

Inventories

Inventories consisted of the following (in thousands):

	December 31,			June 30,
	2018			2019
				(unaudited)
Finished goods	$	32,702		$	38,846
Raw materials		1,958			2,499
Gross inventory		34,660			41,345
Less: Excess and obsolete provision		(3,950	)		(4,367	)
Inventories, net	$	30,710		$	36,978

The following table reflects the activity in the Company’s inventory excess and obsolete provision (in thousands):

	Year ended December 31,			Six months ended June 30,
	2018			2019
				(unaudited)
Beginning balance	$	2,766		$	3,950
Inventory written off		(528	)		(101	)
Increase in excess and obsolete provision		1,712			518
Ending balance	$	3,950		$	4,367

Property and equipment

6 Months Ended

Jun. 30, 2019

Property Plant And Equipment [Abstract]

Property and equipment

Note 4. Property and equipment

Property and equipment, net consisted of the following (in thousands):

		December 31,			June 30,
	Useful Life	2018			2019
					(unaudited)
Equipment and tooling	3 to 5 years	$	18,552		$	20,107
Computer equipment	3 to 5 years		2,644			2,925
Furniture and fixtures	10 years		666			725
Total cost			21,862			23,757
Less: Accumulated depreciation			(13,897	)		(15,660	)
Property and equipment, net		$	7,965		$	8,097

Total depreciation expense was $0.6 million and $0.8 million for the three-months ended June 30, 2018 and 2019, respectively, and $1.2 million and $1.7 million for the six-months ended June 30, 2018 and 2019, respectively.

Software

6 Months Ended

Jun. 30, 2019

Research And Development [Abstract]

Software

Note 5. Software

Software consisted of the following (in thousands):

		December 31, 2018							June 30, 2019
									(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	$	15,513	$	(12,802	)	$	2,711	$	15,923	$	(13,009	)	$	2,914
Software marketed for external sale	3 years		1,534		(301	)		1,233		1,741		(545	)		1,196
Total		$	17,047	$	(13,103	)	$	3,944	$	17,664	$	(13,554	)	$	4,110

Amortization of acquired and internal use software is computed using the straight-line method over an estimated useful life of generally three to seven years. Amortization expense recognized on acquired and internal use software is reflected in depreciation and amortization in the consolidated statements of operations. Amortization expense was $0.6 million and $0.1 million for the three-months ended June 30, 2018 and 2019, respectively, and $1.1 million and $0.2 million for the six-months ended June 30, 2018 and 2019, respectively.

The Company began capitalizing costs associated with software marketed for external sale in 2017. Amortization expense recognized on software to be sold or marketed externally was $0.0 million and $0.2 million for the three-months ended June 30, 2018 and 2019, respectively, and $0.1 million and $0.2 million for the six-months ended June 30, 2018 and 2019, respectively, and is included in cost of revenues on the consolidated statements of operations.

Based on capitalized software assets at June 30, 2019, estimated amortization expense in future fiscal years is as follows (unaudited and in thousands):

Year ending December 31,	Acquired and internal use software		Software marketed for external use		Total
Remainder of 2019	$	353	$	241	$	594
2020		680		580		1,260
2021		618		249		867
2022		484		109		593
2023		417		17		434
2024 & Thereafter		362		—		362
Total amortization	$	2,914	$	1,196	$	4,110

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 6. Goodwill and Intangible Assets

When the Company acquired the trade assets of Motorola Solutions, Inc.’s wireless point-to-point and point-to-multipoint businesses, the transaction generated goodwill and certain intangible assets. The goodwill associated with this transaction was recorded by Cambium Networks Corporation and allocated to Cambium Networks, Ltd. and Cambium Networks, Inc. using a revenue and asset allocation method. Although goodwill has been allocated to two operating subsidiaries, as noted in Note 16 – Segment information and revenues by geography, the Company operates as one operating segment and one reporting unit and therefore, goodwill is reported, and impairment testing performed, at the Cambium Networks Corporation consolidated level.

The change in the carrying amount of goodwill for the year ended and six-month period ended was as follows (in thousands):

	December 31,		June 30,
	2018		2019
			(unaudited)
Beginning balance	$	8,060	$	8,060
Impairment or other changes		—		—
Ending balance	$	8,060	$	8,060

The Company completed a qualitative assessment of goodwill for 2018. In completing the qualitative assessment, the Company assessed relevant events and changes in circumstances, including industry and market conditions, observable EBITDA multiples for peer companies, operating results, business plans and entity-specific events.

Based on the results of the 2018 qualitative impairment tests, it was more likely than not that there was no impairment of the Company’s goodwill for the period. In conjunction with its assessment for impairment, the Company determined the carrying value of its one reporting unit at December 31, 2018 was negative. Since the carrying value of the reporting unit was negative, the Company is not required to perform a qualitative assessment. Therefore, there were no adjustments to the carrying value of goodwill at December 31, 2018, which was $8.1 million. In addition, there were no triggering events or changes in circumstances during 2018 and as of June 30, 2019 (unaudited) that would have required a review other than at the annual test date.

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, 2018							June 30, 2019
									(unaudited)
	Useful Life	Gross carrying amount		Accumulated amortization			Net balance		Gross carrying amount		Accumulated amortization			Net balance
Unpatented technology	7 years	$	14,120	$	(14,120	)	$	—	$	14,120	$	(14,120	)	$	—
Customer relationships	18 years		11,630		(4,630	)		7,000		11,630		(4,954	)		6,676
Patents	7 years		11,300		(11,300	)		—		11,300		(11,300	)		—
Trademarks	10 years		5,270		(3,777	)		1,493		5,270		(4,041	)		1,229
Total		$	42,320	$	(33,827	)	$	8,493	$	42,320	$	(34,415	)	$	7,905

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 $1.2 million and $0.3 million for the three-months ended June 30, 2018 and 2019, respectively, and $2.4 million and $0.6 million for the six-months ended June 30, 2018 and 2019, respectively (unaudited).

Based on capitalized intangible assets as of June 30, 2019, estimated amortization expense amounts in future fiscal years are as follows (unaudited and in thousands):

Year ending December 31,	Amortization
Remainder of 2019		586
2020		1,173
2021		1,085
2022		646
2023		646
2024 & Thereafter		3,769
Total amortization	$	7,905

Debt

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Debt

Note 7. Debt

As of June 30, 2019, the Company had $90.7 million outstanding under its current term loan facility and $10.0 million in borrowings under its revolving credit facility (unaudited).

As of December 31, 2018, the Company had $95.5 million outstanding under its current term loan facility and $10.0 million in borrowings under its revolving credit facility.

The following table reflects the current and noncurrent portions of the external debt facilities at June 30, 2019 and December 31, 2018 (in thousands):

	December 31,			June 30,
	2018			2019
				(unaudited)
Term loan facility	$	—		$	—
Tranche A		72,735			67,985
Tranche B		22,727			22,727
Revolving credit facility		10,000			10,000
Less debt issuance costs		(2,443	)		(2,309	)
Total debt		103,019			98,403
Less current portion of term facility		(9,500	)		(9,750	)
Current portion of debt issuance costs		664			718
Total long-term external debt	$	94,183		$	89,371

Secured credit agreements

On March 22, 2017, the Company entered into the second amended and restated credit agreement (“second Amended and Restated Credit Agreement”) extending the Company’s existing credit facility from October 28, 2018 to March 22, 2022. The second Amended and Restated Credit Agreement provided an aggregate borrowing amount not to exceed $45.0 million consisting of a term loan facility in the aggregate principal amount of $35.0 million and a revolving loan facility in an aggregate principal amount of $10.0 million, including a letter of credit sub-facility in the aggregate availability amount of $10.0 million. The Company initially borrowed $30.0 million under the term facility provisions of the second Amended and Restated Credit Agreement.

On December 21, 2017, the Company entered into the third amended and restated credit agreement (as amended and restated, the “Credit Agreement”) to refinance the obligations under the Company’s existing credit facility, to an aggregate amount of $100.0 million, consisting of a term loan facility in the aggregate principal amount of $90.0 million and a revolving loan facility in an aggregate principal amount of $10.0 million, including a letter of credit sub-facility in the aggregate availability amount of $5.0 million. The Company may request borrowings under the revolving credit facility until December 21, 2022, which is the date it becomes due. The term loan matures and also becomes due on December 21, 2022.

The proceeds were used to: (i) pay fees and expenses incurred in connection with the refinancing; (ii) pay off the existing senior indebtedness under the second Amended and Restated Credit Agreement; (iii) finance the return of capital to the Company’s Sponsor; and (iv) provide ongoing working capital and other general corporate purposes. The Credit Agreement includes an accordion feature, permitting the Company on not more than five occasions prior to the fourth anniversary of the date of the Credit Agreement to increase the aggregate amount of the term loan by up to $40.0 million, the proceeds of which may be used for permitted acquisitions.

In November 2018, the Company entered into a Waiver and First Amendment to Amended and Restated Credit Agreement (“Amendment”). The Amendment waives certain events of default, resets the debt covenants, and modified and amended certain terms of the Credit Agreement. Any terms not amended or modified by the Amendment are governed under the existing Credit Agreement. The Events of Default (as defined in the Credit Agreement) occurred as a result of the Company’s failure to maintain certain financial covenants. The Events of Default occurred for the months ended May 31, 2018, July 31, 2018, and August 31, 2018 with the Minimum Adjusted Quick Ratio and for the quarter ended September 30, 2018 with the Maximum Consolidated Leverage Ratio and the Minimum Consolidated Fixed Charge Coverage Ratio (together knows as the “Existing Events of Default”).

Per the Amendment, the outstanding term loan was continued as two separate tranches of term loans, one tranche in the aggregate principal amount outstanding of $73.9 million (inclusive of the conversion of the outstanding revolving loan) as of the Amendment effective date (“Tranche A”) and a separate tranche in the aggregate principal amount outstanding of $22.7 million as of the Amendment effective date (“Tranche B”). The outstanding revolving loan in the amount of $10.0 million was converted into, aggregated with, and continued as Tranche A as of the Amendment effective date. The Amendment also maintained the $10.0 million revolving credit facility.

The Amendment also amended the following financial covenants: Consolidated EBITDA to reflect changes to the new definition and minimum requirements for consolidated EBITDA; consolidated fixed charge coverage ratio to reflect the modification to reduce the minimum ratio until June 30, 2020; consolidated leverage ratio to reflect the modifications to increase the maximum ratio until June 30, 2019; and minimum adjusted quick ratio to reflect the modification to reduce the ratio through the maturity date of the loan. Further, the repayment schedule for the principal repayment of the term loans was amended to reflect the new installment amounts due on the last day of each fiscal quarter.

In connection with the execution of the Waiver and First Amendment to Amended and Restated Credit Agreement, Vector Capital IV, L.P., an affiliate of the general partner of the Company’s sole shareholder, executed a Limited Guaranty agreement whereby it agreed to guarantee the Tranche B loan up to a maximum of the lesser of: (i) $25.0 million and (ii) an amount equal to (a) 1.10 multiplied by (b) an amount equal to the then aggregate principal amount of the Tranche B loan.

The Company incurred a $0.25 million administrative fee and all lenders’ term commitment percentage and revolving commitment percentage remained the same as a result of the Amendment.

The amended term loan is repayable quarterly as follows: (i) $2.375 million is payable in each quarter for the first four (4) payment dates starting after January 1, 2019; and (ii) $2.5 million is payable in each quarter of each year thereafter, with the remaining principal on both Tranche A and Tranche B due on maturity on December 21, 2022. Principal payments are applied to Tranche A until the balance is paid in full. In addition, 50% of excess cash, defined as EBITDA less tax, capital expenditures, certain investments, scheduled loan repayments, declared distributions, interest, working capital requirement and other items paid in cash to the extent included as an add back to EBITDA, is payable to the lenders at the end of each year as a repayment of outstanding borrowings.

Interest accrues on the outstanding principal amount of the term loan on a quarterly basis and is equal to the three-month US LIBOR rate plus a base rate of 4.75%, 4.25% or 4.00%. In addition to paying the interest on the outstanding principal under the term loan facility, the Company is required to pay a commitment fee in respect of the unutilized commitments under the revolving credit facility, payable quarterly in arrears. The Company is also required to pay letter of credit fees on the maximum amount available to be drawn under all outstanding letters of credit in an amount equal to the applicable margin on LIBOR based borrowings under the revolving credit facility on a per annum basis, payable in arrears, as well as customer fronting fees for the issuance of letters of credit fees and agency fees.

The Company is permitted to voluntarily reduce the unutilized portion of the commitment amount and repay outstanding loans under the Credit Agreement at any time without premium or penalty, other than customary breakage costs with respect to LIBOR based loans.

Borrowings under the Agreement are secured by a first-priority lien on substantially all of the Company’s assets, the equity interests in the Company’s subsidiaries, and any intercompany debt. The Credit Agreement also contains certain customary mandatory prepayment provisions. If certain events, as specified in the Credit Agreement, occur, the Company may be required to repay all or a portion of the amounts outstanding under the Credit Agreement.

On April 26, 2019, the Company entered into a Consent, Waiver and Second Amendment to Amended and Restated Credit Agreement (“2^nd Amendment”). The 2^nd Amendment waived the Company’s failure to comply with the quarterly maximum consolidated leverage ratio and minimum consolidated fixed charge coverage ratio at December 31, 2018.

The 2^nd Amendment also modified the following financial covenants: Minimum Adjusted Quick Ratio to exclude certain accrued legal expenses associated with the Company’s IPO and the current lease liability associated with the adoption of ASC 842 starting in April 2019 and continuing through maturity of the loan; consolidated fixed charge coverage ratio to reflect the change in the time period from a trailing twelve-month to a trailing three-month, trailing six-month and trailing nine-month for the quarters ended June 30, 2019, June 30, 2019 and September 30, 2019, respectively, and increased the minimum ratio just for the quarter ended June 30, 2019; and the consolidated leverage ratio to reflect the increase in the maximum ratio until June 30, 2019. There were no modifications to the interest rate, loan maturity date, principal repayment schedule or total borrowings.

On June 21, 2019, the Company entered into a Waiver Agreement (“Waiver Agreement”). The Waiver Agreement waived the Company’s failure to comply with the monthly minimum adjusted quick ratio at May 31, 2019. The Waiver Agreement did not modify any financial covenants, interest rate, loan maturity date, principal repayment schedule, or total borrowings.

On June 28, 2019, the Company entered into a Third Amendment to Amended and Restated Credit Agreement (the “Third Amendment”). The Third Amendment amends the Amended and Restated Credit Agreement, dated December 21, 2017, as amended by that Waiver and First Amendment to Amended and Restated Credit Agreement dated as of November 21, 2018 and as further amended by the Consent, Waiver and Second Amendment to Amended and Restated Credit Agreement dated as of April 26, 2019 (as amended, amended and restated, supplemented, restructured or otherwise modified, renewed or replaced from time to time, the “Credit Agreement”).

Pursuant to the Third Amendment, certain actions taken by the Company in connection with its IPO of ordinary shares that closed on June 28, 2019 were consented to by Silicon Valley Bank and the Lenders, including (i) the exchange of outstanding vested and unvested Class B units and phantom units in VCH L.P. for ordinary shares of the Company (in exchange for vested units) and restricted stock awards (for unvested Class B units) and restricted stock units (for unvested phantom units) and the adoption of the employee share incentive plan and employee share purchase plan and forms of award agreement thereunder by the Company; (ii) the payment of accrued and unpaid management fees owed to an affiliate of VCH, L.P.; and (iii) the entering into of the Shareholder Agreement by and between VCH, L.P. as a guarantor and loan party and terminated the guaranty granted by an affiliate of VCH, L.P. In addition, the Tranche A and Tranche B are dissolved and only one tranche of term loan remains.

As a condition to the Third Amendment, the Company was required to pay $30.7 million to the Lenders out of the net proceeds of its IPO. As a result, following the repayment, the total term loan commitments under the Credit Agreement were reduced to $72.4 million and all outstanding amounts under the revolving credit facility were repaid, leaving an available revolving commitment of $10.0 million. Following the regularly scheduled payment of $2.375 million on June 28, 2019, the outstanding term loan commitment was reduced to $70.0 million. The minimum consolidated fixed charge coverage ratio for the trailing twelve-month period ending December 31, 2019 and each trailing twelve-month quarterly period ending thereafter was amended to 1.25:1.00. All other financial covenants remained the same. Refer to Note 20 – Subsequent events regarding repayment to the Lenders.

The Credit Agreement contains customary affirmative and negative covenants, including covenants that limit or restrict the Company and its subsidiaries’ ability to, among other things, incur indebtedness, grant liens, merge or consolidate, dispose of assets, pay dividends or make distributions, make investments, make acquisitions, prepay certain indebtedness, change the nature of its business, enter into certain transactions with affiliates, enter into restrictive agreements, and make capital expenditures, in each case subject to customary exceptions for a credit facility of this size and type.

The Company’s current debt covenant requirements reflect the following limits required, based on the time period noted, for compliance with the covenant:

					Quarter ending
Covenant	Criteria	June 30, 2019	September 30, 2019	December 31, 2019	March 31, 2020	June 30, 2020
Monthly minimum adjusted quick ratio	Min ratio	Non quarter-end months 1.00:1.00 Quarter-end months 1.15:1.00
Quarterly consolidated fixed charge coverage ratio	Min ratio	1.10:1.00	1.15:1.00	1.25:1.00	1.25:1.00	1.25:1.00
Quarterly consolidated fixed charge coverage ratio	Time period	Trailing six-month	Trailing nine-month	Trailing twelve-month
Quarterly consolidated leverage ratio	Max ratio	3.75:1.00	3.25:1.00	3.00:1.00	3.00:1.00	2.75:1.00
Quarterly consolidated leverage ratio	Time period	Trailing twelve month

Based on the modified covenants, the Company believes that all covenants will be met at subsequent testing dates for the next twelve months and has classified the amounts due in excess of twelve months as noncurrent. As of June 30, 2019, the Company was in compliance with all affirmative and negative quarterly covenants as defined in the 2^nd Amendment (unaudited).

Interest expense, including bank charges and amortization of debt issuance costs on the external debt, was $2.1 million and $2.3 million for the three-months ended June 30, 2018 and 2019, respectively, and $3.8 million and $4.6 million for the six-months ended June 30, 2018 and 2019, respectively (unaudited).

Loan from Sponsor and Capital Contribution

6 Months Ended

Jun. 30, 2019

Loan From Sponsor And Capital Contribution [Abstract]

Loan from sponsor and capital contribution

Note 8. Loan from Sponsor and capital contribution

In October 2011, a subsidiary of the Company issued convertible preferred equity certificates (“CPECs”) to the Sponsor in connection with the purchase of the PTP and PMP businesses from Motorola Solutions, Inc. Under ASC 815-10, the option to convert the CPECs into ordinary shares does not meet the definition of a derivative. Therefore, the CPECs were classified as debt, as they do not provide for net settlement and there is no active market for the shares. The CPECs have both a fixed and variable yield component, with the fixed yield component of 1% per annum. The variable yield is dependent upon the income obtained from amounts lent to, and equity investment in, certain subsidiaries. The Company has the option to either accrue the interest or cash settle, and since the inception of the CPECs, the Company has elected to accrue the interest. The CPECs are redeemable at the earlier of 49 years after issuance or upon the occurrence of specified events, including the realization of certain of the Company’s investments.

On July 31, 2017, in connection with the dissolution of the subsidiary, the CPECs and associated accrued interest were redeemed, and simultaneously the Sponsor made a non-cash capital contribution of $88.4 million. The $88.4 million non-cash capital contribution represented principal on the CPECs of $62.5 million and accrued interest of $25.9 million.

On December 21, 2017, the Company made a cash return of contributed capital to VCH, L.P. in the amount of $65.7 million.

On June 28, 2019, in connection with the Recapitalization, the unreturned capital and accumulated yield of $49.2 million payable to holders of Class A Units under the VCH, LPA was settled in the form of additional shares in the Company. The Company issued shares to VCH., L.P on a value-for-value basis based on the $12.00 per share offering price. The Recapitalization was recorded as a non-cash transaction which resulted in the transfer of equity ownership from capital contribution to additional paid in capital. After completion of the Recapitalization, the Company is neither party to nor subject to any obligations under the VCH LPA.

Employee Benefit Plans

6 Months Ended

Jun. 30, 2019

Compensation And Retirement Disclosure [Abstract]

Employee benefit plans

Note 9. Employee benefit plans

The Company’s employee benefit plans currently consist of a defined contribution 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. regular, full-time employees are eligible to participate in the Cambium Networks, Inc. 401(k) Plan, which is a qualified defined contribution plan under section 401(k) of the Internal Revenue Service Code. Under the Cambium Networks, Inc. 401(k) Plan, the Company contributes a dollar-for-dollar match of the first 4% an employee contributes to the plan. Employees are eligible to participate on the first day of the month following their date of hire and begin receiving company contributions three-months after they become eligible to participate in the plan. Company matching contributions are made each pay period, but the funds do not vest until the employee’s second anniversary of employment with the Company. Employees are always fully vested in their own contributions. All contributions, including the Company match, are made in cash and invested in accordance with the participants’ investment elections. Contributions made by the Company under the Cambium Networks, Inc. 401(k) Plan were $0.2 million and $0.3 million for the three-months ended June 30, 2018 and 2019, respectively, and $0.6 million and $0.5 million for the six-months ended June 30, 2018 and 2019, respectively (unaudited).

UK plan

Regular, full-time UK employees 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% 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-months ended June 30, 2018 and 2019, respectively, and $0.2 million and $0.2 million for the six-months ended June 30, 2018 and 2019, respectively (unaudited).

Share Based Compensation

6 Months Ended

Jun. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share based compensation

Note 11. Share-based compensation

2011 Management incentive compensation plan

Prior to its IPO, the Company’s management incentive compensation represented management incentive units in its sole shareholder, VCH, L.P.

Just prior to the IPO, the Company effected the Recapitalization, which comprised an increase in the authorized and outstanding shares held by VCH, L.P., and the exchange of the vested share-based compensation awards held by its employees for its ordinary shares and unvested share-based compensation awards for restricted shares or restricted share units issued by the Company, in each case, on a value-for-value basis. After completion of the Recapitalization and the intial public offering, the Company is no longer party to nor subject to any obligations under the VCH LPA. As a result of the Recapitalization, the completion of the Company’s IPO, the contingent conditions had been met on some of the equity-settled and cash-settled awards and the Company recorded share-based compensation expense of $15.4 million related to these awards.

The following table reflects the number of MIUs and phantom units (not including the Class A units) exchanged as part of the Recapitalization (unaudited):

	Number of units (time-based)			Number of units (performance-based)
Balance at December 31, 2017		9,843,098			5,417,093
Granted		2,440,000			—
Forfeitures and cancellations		(139,800	)		—
Balance at December 31, 2018		12,143,298			5,417,093
Granted		234,000			—
Forfeitures		(82,100	)		—
Recapitalization - cancellations		(2,622,250	)		—
Recapitalization - converted to restricted shares		(758,138	)		(4,038,643	)
Recapitalization - converted to shares		(8,914,810	)		(1,378,450	)
Balance at June 30, 2019		—			—

The numbers above are on a pre-Recapitalization basis; the outstanding management incentive units and phantom units were not exchanged one-for-one, to reflect the value for value exchange including a reverse split of outstanding units. Following the Recapitalization, management incentive and phantom units were exchanged for an aggregate of 2,221,325 shares, 240,327 restricted share awards and restricted share units, less 94,383 shares held in treasury in payment of amounts due against the outstanding management incentive and phantom units. The restricted share awards and restricted share units were issued under our 2019 Share Incentive Plan, and are included in the tables below.

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 number of shares that may be issued under the 2019 Plan is 3,400,000, in addition to the 240,037 RSAs and RSUs the Company granted in substitution for unvested Class B Units or phantom units in connection with the Company’s IPO based on a price of $12.00 (“Recapitalization Awards”). The share reserve under the 2019 Plan will be automatically increased on the first day of each fiscal year, beginning with the fiscal year ending December 31, 2020 and continue until, and including, the fiscal year ending December 31, 2029. The number of shares added annually will be 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.

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 its employees. Participants in the 2019 Plan will also consist of persons to whom restricted share awards and restricted share units are granted in substitution for Class B Units in VCH, L.P. in connection with the Company’s IPO. The Company granted an aggregate of 2,172,000 share options and restricted share units under the 2019 Plan effective upon pricing of the offering, with an exercise price of options equal to $12.00 per share and recorded share-based compensation expense of $0.7 million.

The following table summarizes changes in the number of shares available for grant under the Company’s equity incentive plans during the six-month period ended June 30, 2019:

	Number of shares
Available for grant at December 31, 2018		—
Recapitalization Awards authorized		240,037
2019 Share Incentive Plan		3,400,000
RSUs granted, including Recapitalization Awards		(294,037	)
Options granted		(2,118,000	)
Available for grant at June 30, 2019		1,228,000

Share-based compensation

The following table shows total share-based compensation expense for the three and six-month periods ended June 30, 2018 and 2019 (unaudited and in thousands):

	Three months ended June 30,				Six months ended June 30,
	2018		2019		2018		2019
Cost of revenues	$	—	$	182	$	—	$	182
Research and development		—		4,863		—		4,863
Sales and marketing		—		3,607		—		3,607
General and administrative		—		7,426		—		7,426
Total share-based compensation expense	$	—	$	16,078	$	—	$	16,078

As of June 30, 2019, the Company estimates the pre-tax unrecognized compensation expense of $12.9 million related to all unvested share-based awards, including share options, restricted share units and restricted share awards will be recognized through the fourth quarter of 2022. The Company expects to satisfy the exercise of share options and future distributions of shares for restricted share units and restricted share awards by issuing new ordinary shares which have been reserved under the 2019 Plan.

In connection with the Recapitalization, phantom units, which were previously accounted for as liability-settled awards, were modified to equity-settled awards. Due to a performance condition associated with the phantom units, a liability was not recognized in the Company’s consolidated financial statements, but was disclosed as liability-settled awards. For the three and six-month period ended June 30, 2019, the Company recognized $2.2 million in share-based compensation expense associated with the vesting of phantom unit awards upon Recapitalization.

The Company utilized a forfeiture rate of 5% during the six-month period ended June 30, 2019 for estimating the forfeitures of share options and restricted share units granted.

Share options

The following is a summary of option activity for the Company’s share incentive plans for the six-months ended June 30, 2019 (unaudited):

	Options		Weighted average exercise price		Weighted Average remaining contractual term (years)		Aggregate intrinsic value
Outstanding at December 31, 2018		—	$	—		—	$	—
Options granted		2,118,000	$	12		—	$	—
Outstanding at June 30, 2019		2,118,000	$	12		—	$	—
Options exercisable at June 30, 2019		57,500	$	12		8.7	$	—
Options vested and expected to vest at June 30, 2019		2,050,100	$	12		10.0	$	—

Share options typically have a contractual term of ten years from grant date.

During the three-month period ended June 30, 2019, the aggregate intrinsic value of options exercisable under the Company’s share incentive plans was $0.00 as determined as of the date of grant. The Company had 0 options exercised during the six-month period ended June 30, 2019.

At June 30, 2019, there was $9.5 million in unrecognized pre-tax share-based compensation expense, net of estimated forfeitures, related to unvested share option awards. The unrecognized share-based compensation expense is expected to be recognized through the second quarter of 2023.

The Company estimates the fair value of share options using the Black-Scholes option pricing model. The fair value of share options is being amortized on a straight-line basis over the requisite service period of the awards. The fair value of share options are estimated using the following weighted average assumptions (unaudited):

	For the six months ended June 30,
	2018		2019
Expected dividend yield		—		—
Risk-free interest rate		—		1.82	%
Weighted-average expected volatility		—		40.8	%
Expected term (in years)		—		6.0
Weighted average grant-date fair value per share of options granted		—	$	5.00

Restricted shares

The following is a summary of restricted shares activity for the Company’s share incentive plans for the six-months ended June 30, 2019 (unaudited):

	Units		Weighted average grant date fair value
RSU balance at December 31, 2018		—	$	—
RSUs granted		294,037	$	12
RSU balance at June 30, 2019		294,037	$	12
RSUs expected to vest at June 30, 2019		86,911	$	12

Upon completion of the Company’s IPO, 240,037 RSAs and RSUs were granted to employees in substitution for unvested Class B Units or phantom units with a grant date fair value of $12.00 , of which 34,111 of the RSAs and RSUs awards granted carry-forward their prior vesting terms and expiration dates and 205,926 RSA equity awards vest based upon the achievement of a total equity return multiple performance condition. In addition, 54,000 RSAs were granted under the Company’s 2019 Share Incentive Plan.

At June 30, 2019, there was $3.4 million in unrecognized pre-tax compensation expense, net of estimated forfeitures, related to unvested share awards. The unrecognized compensation expense is expected to be recognized through the fourth quarter of 2022.

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; however, no offering period or purchase period under the ESPP will begin unless and until determined by the Company’s Board of Directors. A total of 550,000 shares will be available under the ESPP. The number of shares that will be available for sale under the ESPP also includes an annual increase 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.

Share Capital - Shares

6 Months Ended

Jun. 30, 2019

Stockholders Equity Note [Abstract]

Share capital - shares

Note 12. Share capital - shares

The following table reflects the share capital activity:

	Number of shares			Value (in thousands)
Balance at December 31, 2017		77,179		$	—
Shares issued/cancelled		—			—
Balance at December 31, 2018		77,179		$	—
Issuance of shares to VCH, L.P. as part of Recapitalization		13,523,232		$	1
Issuance of shares to VCH, L.P for return of capital and accumulated yield		4,104,343			1
Issuance of shares to MIU holders		2,221,875			—
Shares withheld for net settlement of shares issued to MIU holders		(94,383	)		—
Issuance of shares in Initial Public Offering		5,800,000			1
Balance at June 30, 2019		25,632,246		$	3

On October 28, 2011, 771.79 shares with a par value of $0.01 per share were issued at an initial subscription price of $1,000 per share. Holders of these shares are entitled to dividends as declared. As of June 30, 2019, no dividends have been declared or paid.

On April 23, 2019, the Board of Directors approved a share subdivision (“Subdivision”) whereby the authorized share capital of the Company was subdivided from 5,000,000 shares having a par value of $0.01 per share into 500,000,000 shares with a par value of $0.0001 per share. The Board resolution was made effective in accordance with Cayman law on June 6, 2019. As a result of the Subdivision, issued and outstanding shares for all periods presented increased from 771.79 to 77,179 shares. Earnings per share as calculated and shown throughout has also been recalculated with the revised issued and outstanding shares.

Just prior to the IPO, the Company effected the Recapitalization, which comprised (i) an increase in the authorized and outstanding shares held by VCH, L.P. and (ii) an exchange of the vested share-based compensation awards held by the Company’s employees for its shares and unvested share-based compensation awards for restricted shares or restricted share units issued by the Company, in each case on a value-for-value basis. As part of the Recapitalization, VCH, L.P. determined that the unreturned capital and accumulated yield payable to holders of Class A Units under the VCH, LPA will be settled in the form of additional shares in the Company. Based on the share-based compensation awards outstanding and unreturned capital and accumulated yield, and based on the IPO price of $12.00, the Company issued 17,627,575 shares to VCH, L.P and 2,221,875 shares to its employees and service providers, of which 94,383 shares were withheld from the employees and service providers in net settlement of amounts due. The impact of the Recapitalization does not result in issued and outstanding shares being restated for any prior period. Refer to Note 13 – Earning per share for information on how the issuance of the shares as part of the Recapitalization are reflected in earnings per share.

In June 2019, the Company issued 5,800,000 shares at a price of $12.00 per share in its IPO, which included 1,500,000 shares to it majority shareholder, VCH, L.P.

Earnings Per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings per share

Note 13. Earnings per share

Basic net earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares outstanding during the period. Diluted net earnings per share is computed by giving effect to all potentially dilutive ordinary share equivalents outstanding for the period. For purposes of this calculation, share options, RSUs, and RSAs are considered to be ordinary share equivalents but are excluded from the calculation of diluted earnings (loss) per share when including them would have an anti-dilutive effect. The following table sets forth the computation of basic and diluted net earnings (loss) per share (unaudited and in thousands, except for share and per share data):

	Three Months Ended June 30,					Six Months Ended June 30,
	2018		2019			2018		2019
Numerator:
Net income (loss)	$	525	$	(20,374	)	$	298	$	(18,512	)
Denominator:
Shares outstanding used in computing net income (loss), basic and diluted		13,600,411		13,865,111			13,600,411		13,732,760
Net income (loss) per share, basic and diluted	$	0.04	$	(1.47	)	$	0.02	$	(1.35	)

On April 23, 2019, the Board of Directors approved the Subdivision whereby the authorized share capital of the Company was subdivided from 5,000,000 shares having a par value of $0.01 per share into 500,000,000 shares with a par value of $0.0001 per share. The Subdivision was effective in accordance with Cayman law on June 6, 2019. As a result of the Subdivision, issued and outstanding shares for all periods presented have been restated from 771.79 shares to 77,179 shares. Earnings per share as calculated and shown has been recalculated with the revised issued and outstanding shares.

Just prior to the IPO, the Company completed a Recapitalization. As part of the Recapitalization, the Company issued an additional 17,627,575 shares to VCH, L.P. which comprised 4,104,343 shares related to the unreturned capital and accumulated yield to the holder of Class A Units of VCH, L.P. and 13,523,232 shares related to the residual share of Cambium’s value attributable to VCH, L.P.’s ownership after such return, based on an IPO price of $12. Using guidance in ASC 260, Earnings per Share, for purposes of calculating earnings per share, the 13,523,232 shares are retrospectively adjusted as if the exchange had occurred at the beginning of the first period of earnings per share information presented. The 4,104,343 shares issued related to the unreturned capital and accumulated yield were issued in lieu of payment of cash to VCH, L.P. and therefore, the shares issued are not retrospectively reflected in shares outstanding in the prior periods for purposes of determining earnings per share.

Also as part of the Recapitalization, the Company issued 2,221,875 shares to its employees and service providers in exchange for the vested share-based compensation awards in VCH, L.P. held by them. For purposes of calculating earnings per share, the 2,221,875 shares are included in the weighted average number of shares outstanding used in the computation of the basic earnings per share only from the date on which the shares are issued, or June 28, 2019.

Income Taxes

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Income taxes

Note 14. Income taxes

The Company’s quarterly income tax provision for income tax is based upon an estimated annual income tax rate. The Company’s quarterly provision for income taxes also includes the tax impact of discrete items, if any, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, in the interim period in which they occur.

The Company recorded income tax expense of $0.2 million and $8.6 million for the three-month period ended June 30, 2018 and 2019, with an effective tax rate of 24.6% and (73.4)%, respectively. The Company’s effective tax rate for the three-month period ended June 30, 2018 differed from the U.S. statutory rate primarily due to the application of the Company’s annual effective tax rate to pre-tax results and the recording of a discrete tax impact during the quarter. The Company’s effective tax rate for the three-month period ended June 30, 2019 differed from the U.S. statutory rate primarily due to the recognition of a valuation allowance against its UK deferred tax assets as well as the taxation of pre-IPO MIU equity awards. The Company established the valuation allowance based on the analysis of cumulative income and loss positions, future income projections, and operating plans. The UK deferred tax assets are comprised of NOL carryforwards, research and development tax credit carryforwards, and corporate interest restriction carryforwards that existed at December 31, 2018 amounting to $7.4 million. The movement in the deferred tax assets during the period amounted to $0.8 million for a total valuation allowance of $8.2 million. The application of the Company’s annual effective tax rate for the period (excluding the impacts of the valuation allowance recognized in the current period) is $0.4 million, which includes the tax impacts of the pre-IPO MIU equity awards recognized as part of the Company’s Recapitalization during the three-month period ended June 30, 2019.

The Company recorded income tax expense of $0.1 million and $9.0 million for the six-month period ended June 30, 2018 and 2019, with an effective tax rate of 28.2% and (95.4)%, respectively. The Company’s effective tax rate for the six-month period ended June 30, 2018 differed from U.S. statutory rates primarily due to the application of the Company’s annual effective tax rate to pre-tax results and the recording of discrete tax impacts during the period. The Company’s effective tax rate for the six-month period ended June 30, 2019 differed from the U.S. statutory rate primarily due to the recognition of a valuation allowance against its UK deferred tax assets as well as the taxation of pre-IPO MIU equity awards. The Company established the valuation allowance based on the analysis of cumulative income and loss positions, future income projections, and operating plans as they relate to valuation allowances. The UK deferred tax assets are comprised of NOL carryforwards, research and development tax credit carryforwards, and corporate interest restriction carryforwards that existed at December 31, 2018 amounting to $7.4 million. The movement in the deferred tax assets during the period amount to $0.8 million for a total valuation allowance of $8.2 million. The application of the Company’s annual effective tax rate for the period (excluding the impacts of the valuation allowance recognized in the current period) is $0.8 million, which includes tax impacts of the pre-IPO MIU equity awards recognized as part of the Company’s Recapitalization during the period ended June 30, 2019.

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 not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the period in which those temporary differences become deductible. The Company considers projected future taxable income, reversing taxable temporary differences, carryback opportunities, and tax-planning strategies in making this assessment. Management assesses 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. A significant piece of objective evidence evaluated is the cumulative income and loss incurred over the three-year period ended June 30, 2019 and whether the Company projects a loss for the current year ending December 31, 2019. Cumulative losses on an interim or annual basis are objective evidence that limits the ability to consider other subjective evidence such as the Company’s projections for future growth. The amount of the deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable income during the carryforward period are reduced or increased or if objective negative evidence in the form of cumulative losses is no longer present and additional weight may be give to subjective evidence such as the Company’s projections for growth and future operating plans.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and contingencies

Note 15. 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 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 consolidated statements of operations and corresponding consolidated balance sheets during that period.

Indemnification

The Company generally indemnifies its distributors, value added reseller and network operators 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. Although the Company generally tries to limit the maximum amount of potential future liability under its indemnification obligations, in certain agreements this liability may be unlimited. 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 it exposure. The Company believes the fair value of these indemnification agreements is minimal.

Warranties

The Company offers a standard one-year warranty on most hardware products and records a liability within current liabilities 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 also offers an extended warranty that extends the standard warranty on most of its products for up to four additional years; a limited lifetime warranty on select hardware products that extends warranty coverage to seven years; and an all risks advance replacement warranty covering additional types of equipment damage not covered by its standard warranty. The warranty costs are reflected in the Company’s consolidated statements of income within cost of revenues. 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.

Legal proceedings

Third parties may from time to time assert legal claims against the Company. Except as set forth below, there is no pending or threatened legal proceedings to which the Company is a party to, and in the Company’s opinion, is likely to have a material adverse effect on its financial condition or results of operations.

On August 7, 2018, Ubiquiti Networks, Inc. filed a lawsuit against the Company, two of the Company’s employees, one of the Company’s distributors and one of the Company’s end users in the United States District Court for the Northern District of Illinois. The complaint alleges that the Company’s development of and sale and promotion of its Elevate software as downloaded on a Ubiquiti device violates the Computer Fraud and Abuse Act and Illinois Computer Crimes Prevention Law, the Digital Millennium Copyright act and the Copyright Act, and constitutes misrepresentation and false advertising and false designation of origin in violation of the Lanham Act and state competition laws, breach of contract, tortious interference with contract and unfair competition, and trademark infringement and common law misappropriations. The complaint also brings additional claims against all defendants that the development and sales of Elevate violated the Racketeer influenced and Corrupt Organizations Act. The defendants answered the complaint and filed a motion to dismiss on December 11, 2018. Ubiquiti served requests for production of documents on December 17, 2018. All discovery motions, including these requests for production, have been stayed by the court pending its ruling on the motion to dismiss. On May 22, 2019, the judge issued his order on the motion to dismiss, and dismissed Ubiquiti’s complaint without prejudice. On May 24, 2019, Ubiquiti filed a motion for extension of time to file an amended complaint. The Company filed a motion objecting to the proposed extension of time on May 24, 2019. On June 18, 2019, Ubiquiti filed its First Amended Complaint (“FAC”). The FAC makes substantially the same claims against the same parties with the exception that the FAC does not include claims for violation of the Illinois Computer Crime Prevention Law, Infringement of Registered Trademarks, False Designation of Origin, and Common Law Trademark Misappropriation that were included in the initial complaint. The Company filed a motion to dismiss the FAC on July 10, 2019. On July 15, 2019, Ubiquiti filed a motion to lift the stay of discovery previously imposed by the court. The Company’s response to Ubiquiti’s motion to lift the stay was filed on July 31, 2019. Ubiquiti has until August 13, 2019 to respond to the Company’s motion to dismiss, with the Company’s reply due on August 27, 2019. The status hearing has been continued by the court to September 4, 2019.

Segment Information and Revenues by Geography

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment information and revenues by geography

Note 16. Segment information and revenues by geography

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 by product category were as follows (unaudited and in thousands, except percentages):

	Three Months Ended June 30,								Six Months Ended June 30,
	2018				2019				2018				2019
Point-to-MultiPoint	$	35,068	58	%	$	41,730	60	%	$	72,308	61	%	$	84,057	61	%
Point-to-Point		17,748	29	%		17,830	26	%		33,707	28	%		37,464	28	%
Wi-Fi		6,810	11	%		8,430	12	%		11,167	9	%		14,016	10	%
Other		1,393	2	%		1,161	2	%		2,290	2	%		1,726	1	%
Total Revenues	$	61,019	100	%	$	69,151	100	%	$	119,472	100	%	$	137,263	100	%

The Company’s products are predominately distributed through a third-party logistics provider in the United States, Netherlands and China. The Company has determined the geographical distribution of product revenues based upon the ship-to destinations.

Revenue by geography were as follows (unaudited and in thousands, except percentages):

	Three Months Ended June 30,								Six Months Ended June 30,
	2018				2019				2018				2019
North America	$	27,339	45	%	$	30,056	44	%	$	51,578	43	%	$	64,420	47	%
Europe, Middle East and Africa		17,275	28	%		22,994	33	%		36,886	31	%		44,964	33	%
Caribbean and Latin America		8,036	13	%		8,420	12	%		16,975	14	%		15,519	11	%
Asia Pacific		8,369	14	%		7,681	11	%		14,033	12	%		12,360	9	%
Total Revenues	$	61,019	100	%	$	69,151	100	%	$	119,472	100	%	$	137,263	100	%

Revenue from contracts with customers

6 Months Ended

Jun. 30, 2019

Revenue From Contract With Customer [Abstract]

Revenue from contracts with customers

Note 17. Revenue from contracts with customers

In accordance with ASC 606, Revenue From Contracts with Customers, the Company recognizes revenue to reflect the transfer of control of promised products or services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those products and services. Refer to Note 16 - Segment Information, for further details, including disaggregation of revenue based on product line and geographic location.

Contract Balances

The following table summarizes contract balances as of December 31, 2018 and June 30, 2019:

	December 31, 2018		June 30, 2019
Trade accounts receivable, net of allowance for doubtful accounts	$	59,797	$	62,449
Deferred revenue - current		2,770		2,203
Deferred revenue - noncurrent		1,541		1,916
Refund Liability	$	1,810	$	2,478

Trade accounts receivable include amounts billed and currently due from customers. Amounts are billed in accordance with contractual terms and are recorded at face amount less an allowance for doubtful accounts.

Deferred revenue consists of amounts due or received from customers in advance of the Company satisfying performance obligations under contractual arrangements and generally relates to extended warranty on hardware products. 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 consolidated balance sheets.

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, 2018, deferred revenue (current and noncurrent) of $4.3 million represents the Company’s remaining performance obligations, of which $2.8 million is expected to be recognized within one year, with the remainder to be recognized thereafter. As of June 30, 2019, deferred revenue (current and noncurrent) of $4.1 million represents the Company’s remaining performance obligations, of which $2.2 million is expected to be recognized within one year, with the remainder to be recognized thereafter.

Revenue recognized during the three and six-month periods ended June 30, 2019 which was previously included in deferred revenues as of December 31, 2018 was $0.4 million and $1.7 million, respectively.

Cost to obtain a contract

Sales commissions are incremental costs of obtaining a contract. The Company has elected to recognize these expenses as incurred due to the amortization period of these costs being one year or less.

Leases

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Leases

Note 18. Leases

The Company adopted ASC 842 on January 1, 2019 using the optional transition method for all leases existing at January 1, 2019, the date of initial application.

The Company has operating leases for offices, vehicles, and office equipment. Leases with a term of 12 months or less are not recorded on the consolidated balance sheets, and are expensed on a straight-line basis over the lease term.

ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The Company’s lease payments are typically fixed or contain fixed escalators. The Company’s leases typically include certain lock-in periods and renewal options to extend the leases, but does not consider options to extend the lease it is not reasonably certain to exercise. The Company elected the practical expedient to not separate the lease and non-lease components of its leases and currently has no leases with options to purchase the leased property.

The components of lease expense were as follows and are included in general and administrative expense (in thousands):

	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Operating lease cost	$	588	$	1,177
Short-term lease cost		31		90
Variable lease costs		98		199
Total lease expense	$	717	$	1,466

Supplemental balance sheet information related to leases were as follows (in thousands, except lease term and discount rate):

	Balance Sheet Caption	June 30, 2019
Operating leases:
Operating lease assets	Operating lease assets	$	7,326
Current lease liabilities	Other current liabilities	$	1,863
Noncurrent lease liabilities	Noncurrent operating lease liabilities	$	6,058
Weighted average remaining lease term (years):
Operating leases			4.43
Weighted average discount rate:
Operating leases			8.50	%

Supplemental cash flow information related to leases were as follows (in thousands):

	Six Months Ended
	June 30, 2019
Supplemental cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	1,189

The Company’s lease terms range from one to seven years and may include options to extend the lease by one to four years.

Maturities on lease liabilities as of June 30, 2019 were as follows (in thousands):

	Operating leases
2019 (excludes the six months ended June 30, 2019)	$	1,219
2020		2,499
2021		2,270
2022		1,307
2023		1,268
Thereafter		995
Total lease payments		9,558
Less: interest		1,637
Present value of lease liabilities	$	7,921

Future payments under operating lease agreements as of December 31, 2018 were as follows (in thousands):

		2019				2020				2021				2022				2023				Thereafter				Total
Operating leases		$	2,409			$	2,418			$	2,203			$	1,307			$	1,267			$	1,072			$	10,676

As of June 30, 2019, the Company does not have any additional leases for office facilities that have not yet commenced.

Related Party Transactions

6 Months Ended

Jun. 30, 2019

Related party transactions

Note 19. 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.

VCH, L.P., the ultimate controlling party, provided funding to the Company in the form of CPECs, as described in Note 8 – Loan from Sponsor and capital contribution, and contributed capital of $62.5 million and $2.0 million, respectively. On July 31, 2017, the Company redeemed the CPECs and VCH, L.P. made a non-cash capital contribution to the Company of $88.4 million, including principal of $62.5 million and accrued interest of $25.9 million. On December 21, 2017, the Company made a cash return of contributed capital to VCH, L.P. in the amount of $65.7 million.

In connection with the Company’s execution of the Waiver and First Amendment to Amended and Restated Credit Agreement dated November 21, 2018 (Refer to Note 7 – Debt), Vector Capital IV, L.P., an affiliate of the general partner of the Company’s sole shareholder, executed a Limited Guaranty agreement whereby it has agreed to guarantee the Company’s Tranche B loan up to a maximum of the lesser of: (i) $25.0 million and (ii) an amount equal to (a) 1.10 multiplied by (b) an amount equal to the then aggregate principal amount of the Tranche B loan.

In connection with the Company’s execution of the Third Amendment to Amended and Restated Credit Agreement dated June 28, 2019 (Refer to Note 7 – Debt), Vector Capital IV, L.P., an affiliate of the general partner of the Company’s sole shareholder was relieved of its Limited Guaranty agreement.

For the three-month periods ended June 30, 2018 and 2019, Vector Capital Management, LP, an entity related to Holdings, charged $0.1 million and $0.1 million, respectively, for management and oversight fees. In addition to the management and oversight fees, in 2017, Vector Capital Management, LP charged the Company $2 million in management fees in connection with the Company’s $90 million debt financing as discussed in Note 7 – Debt. Amounts due to Vector Capital Management, LP at December 31, 2018 and June 30, 2019 were $5.6 million and $5.8 million, respectively, and are included as Payable to Sponsor in the Company’s consolidated balance sheets. In connection with the IPO, the Vector Capital Management Agreement is terminated and all outstanding amounts due will be paid out of net proceeds from the Company’s IPO.

In connection with the Recapitalization and upon consummation of the Company’s IPO, the Company issued shares to VCH, L.P. representing the amount of unreturned capital and accumulated yield payable to holder of Class A Units of VCH, plus the residual shares of the Company’s value attributable to VCH’s ownership after such return, based on the IPO price of $12.00 per share. After completion of the Recapitalization and the offering, the Company is neither party to nor subject to any obligations under the VCH LPA.

Business and Significant Accounting Policies (Policies)	6 Months Ended
Business and Significant Accounting Policies (Policies)	Jun. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited consolidated financial statements include the accounts of Cambium Networks Corporation and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. The consolidated financial statements as of June 30, 2019, and for the three and six-month periods ended June 30, 2018 and 2019, are unaudited. The unaudited consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements other than the adoption with effect from January 1, 2019 of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 842, Leases, 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, 2019 and results of operations for the three and six-month periods ended June 30, 2018 and 2019 and cash flows for the six-month period ended June 30, 2018 and 2019. The consolidated balance sheet as of December 31, 2018, was derived from the audited financial statements. On June 6, 2019, the Company completed a 100:1 share subdivision to its sole shareholder of record. Accordingly, all share and per share amounts for all periods presented in these consolidated financial statements and notes thereto have been adjusted retrospectively to reflect the subdivision. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principals generally accepted in the United States (“GAAP”) have been condensed or omitted. The consolidated financial statements contained herein should be read in conjunction with the Company’s consolidated financial statements and notes thereto contained in its Prospectus filed pursuant to Rule 424(B)(4), as filed on June 26, 2019. The results of operations for the three and six-month periods ended June 30, 2019 are not necessarily indicative of the operating results to be expected for the full year. Certain amounts in prior periods have been adjusted to conform with the current year presentation.
Initial public offering	Initial public offering The Company’s registration statement on Form S-1 (the “IPO Registration Statement”) related to its initial public offering (“IPO”) was declared effective on June 25, 2019, and the Company’s ordinary shares began trading on the Nasdaq Global Market on June 26, 2019. On June 28, 2019, the Company completed its IPO, in which the Company sold 5,800,000 shares at a price to the public of $12.00 per share. The Company received aggregate net proceeds of $66.0 million after deducting underwriting discounts and commissions of $3.6 million. The Company has already paid offering costs of $1.0 million, and will paydown debt of $30.7 million and additional offering expenses of $3.3 million subject to certain cost reimbursements in future quarters as indicated in the Company’s IPO Registration Statement. See Note 20 – Subsequent events for additional information. Immediately prior to the completion of the IPO, the Company effected a recapitalization, which comprised (i) an increase in the authorized and outstanding shares held by Vector Cambium Holdings (Cayman), L.P. (“VCH, L.P.”) and (ii) the exchange of the vested share-based compensation awards held by its employees for the Company’s shares and unvested share-based compensation awards for restricted share awards or restricted share units issued by the Company, in each case on a value-for-value basis (the “Recapitalization”). Immediately prior to the completion of the IPO, the Company filed its Amended and Restated Memorandum and Articles of Association, which authorizes a total of 500,000,000 ordinary shares. Upon the filing of the Amended and Restated Memorandum and articles of Association, based on the IPO price of $12.00 per share, and as part of the Recapitalization descibed above, the Company (i) issued additional shares to VCH, L.P., such that its aggregate shareholding in it is now 17,704,754 shares, (ii) issued 2,127,492 net shares to its employees and service providers and (iii) granted 240,037 restricted share awards or restricted share units in respect of shares that would be subject to vesting based on continued employment with or provision of services to the Company. The Company recorded non-cash share-based compensation expense of $15.4 million in June 2019 related to the aforementioned issuance of the shares to its employees and service providers. In addition, the Company issued an aggregate 2,172,000 share options and restricted share units to employees and directors, effective upon pricing of the IPO of $12.00 per share and recorded an additional $0.7 million of share-based compensation expense related to these awards.
Use of Accounting Estimates	Use of Accounting Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates these estimates, including those related to the allocation of selling prices arrangements with multiple performance obligations, provision for excess and obsolete inventory, allowance for doubtful accounts, the carrying amount of estimated inventory returns, the estimated amount expected to be refunded to customers in respect of inventory returns, provision for warranty claims, useful lives of long-lived assets and impairment assessments, fair value of equity awards granted to employees and the associated forfeiture rates, provision for income taxes, recoverability of deferred tax assets, and deferred tax liabilities related to investments in subsidiaries. The Company bases estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. Actual results could differ from those estimates.
Segments	Segments Management has determined that it operates as one operating segment and one reporting unit as it only reports financial information on an aggregate and consolidated basis to its Chief Executive Officer, who is the Company’s chief operating decision maker. Decisions about resource allocation or operating performance assessments are not made below a total company level. Consequently, impairment testing is performed at the consolidated level as one unit. See Note 16 – Segment information and revenues by geography for additional informaiton.
Recognition of revenues	Recognition of revenues Revenues consist primarily of revenues from the sale of hardware products with essential embedded software. Revenues also include limited amounts for software products and extended warranty on hardware products. Substantially all products are sold through distributors and other channel partners, such as resellers and systems integrators. The Company adopted Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”), and all the related amendments on January 1, 2018, applying the modified retrospective method to all contracts not completed as of the date of adoption. The Company assessed the impact of ASC 606 using the prescribed 5-step model and based on this assessments, concluded the recognition of revenue under ASC 606 is generally consistent with how revenue was being recognized prior to the adoption of the new standard. See Note 17 – Revenue from contracts with customers for further details on the impact of adoption. In accordance with ASC 606, 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 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. Exchanges made as part of the Company’s stock rotation program meet the definition of a right of return under ASC 606. 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 volume-based rebates and cooperative 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 embedded software transferred at a point in time is recognized when obligations under the terms of the contract are satisfied. Generally, this occurs when the transfer of control of the asset, which is at the time of shipment. Software revenue is from perpetual license software and 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. The Company enters into revenue arrangements that may consist of multiple performance obligations, such as hardware with embedded essential software 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 simlar 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.
Cash	Cash The Company deposits cash with financial institutions that management believes are of high credit quality. The Company’s cash consists primarily of U.S. dollar denominated demand accounts.
Receivables and concentration of credit risk	Receivables and concentration of credit risk Trade accounts receivable are recorded at invoiced amounts, net of the allowance for doubtful accounts. 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 their customers are generally net 30 to 60 days. The Company had one customer representing more than 10% of trade receivables at June 30, 2019 and one customer at December 31, 2018. The Company had two customers representing more than 10% of revenues for the three-months ended June 30, 2019 and one customer for the three-months ended June 30, 2018. The Company had three customers representing more than 10% of revenues for the six-months ended June 30, 2019 and two customers for the six-months ended June 30, 2018. The Company records an allowance for doubtful accounts for estimated probable losses on uncollectible accounts receivable. In estimating the allowance, management considers the aging of the accounts receivable, the Company’s historical write offs, the credit worthiness of each distributor based on payment history, and general economic conditions, among other factors.
Inventory	Inventory The Company’s inventories are primarily finished goods for resale and, to a lesser extent, raw materials, which have been either consigned to the Company’s third-party manufacturers or are held by the Company. Inventories are stated at the lower of cost or net realizable value. In determining the cost of raw materials, consumables and goods purchased for resale, the weighted average purchase price is used. For finished goods, cost is computed as production cost including capitalized inbound freight costs. The valuation of inventory also requires the Company to estimate excess or obsolete inventory. The determination of excess or obsolete inventory is estimated based on a comparison of the quantity and cost of inventory on hand to the Company’s forecast of customer demand and in consideration of historical usage. Any adjustments to the valuation of inventory are included in cost of revenues.
Deferred offering costs	Deferred offering costs Deferred offering costs, consisting of legal, accounting and other fees and costs related to the IPO are capitalized and reflected in other current assets on the Company’s consolidated balance sheets. There was $2.0 million of deferred offering costs capitalized at December 31, 2018. The Company deferred an additional $2.3 million of costs in 2019. All $4.3 million was offset against IPO proceeds upon closing of the offering on June 28, 2019.
Property and equipment	Property and equipment Per ASC 360, Property, Plant, and Equipment, property and equipment are stated at cost. The Company calculates depreciation expense using the straight-line method over the estimated useful lives of each asset based on its asset class. Leasehold improvements are amortized over the shorter of their useful live or the lease term. See Note 4 – Property and equipment for the useful lives for each asset class. Upon retirement or disposition, the asset cost and related accumulated depreciation are removed with any gain or loss recognized in the consolidated statements of operations.
Software	Software Software may be purchased or developed internally for internal use. Costs related to internal use software are accounted for in accordance with ASC 350-40, Internal Use Software, and ASC 350-50, Website Development Costs, where the expected life is greater than one year. Costs are expensed as incurred during the preliminary project stage of an internal use software project. Costs are capitalized once the project has been approved by management and is in the application development stage. Post implementation/operation costs, such as maintenance and training costs, are expensed as incurred. Any costs incurred to provide upgrades or enhancements are capitalized only if they provide additional functionality that did not previously exist. Amortization of internal use software begins when the software is ready for internal use and is amortized over its estimated useful life. The amortization expense for internal use software is computed using the straight-line method over three to seven years. Costs related to certain software, which is available for sale, are capitalized in accordance with ASC 985-20, Costs of Software to be Sold, Leased, or Marketed, when the resulting product reaches technological feasibility. The Company generally determines technological feasibility when it has a detailed program design that takes product function, feature and technical requirements to their most detailed, logical form and the product is ready for coding. The Company does not typically capitalize costs related to the development of first-generation product offerings as technological feasibility generally coincides with general availability of the software. Amortization of software costs to be sold or marketed externally begins when the product is available for sale to customers and is amortized over its estimated useful life, which is determined on a product-by-product basis. The amortization expense for available for sale software is computed using the straight-line method over three years.
Goodwill and intangible assets	Goodwill and intangible assets Goodwill represents the excess purchase price over the estimated fair value of net assets acquired in a business combination. Goodwill is measured at cost and is not amortized. Intangible assets acquired, either individually or with a group of assets, are initially recognized and measured at fair value. The Company uses third-party specialists to assist management to determine fair values and estimated useful lives for intangible assets acquired in business combinations. Intangible assets with finite useful lives are amortized on a straight-line basis over their estimated useful lives of between 7 and 18 years. The Company has no intangible assets with indefinite lives. In accordance with ASC 350, Goodwill and Other, the Company assesses goodwill for impairment at least annually and whenever events or circumstances that would more likely than not, reduce the fair value below its carrying value. For 2018, the Company tested goodwill for impairment at December 31. Annual impairment testing is completed at the reporting unit level. Management has concluded the Company operates as one reporting unit and one operating segment for annual impairment testing. Refer to Note 16 – Segment information and revenues by geography for more information. The Company early adopted Accounting Standard Update (“ASU”) 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. In completing its impairment evaluations, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount, including goodwill. In performing this qualitative assessment, the Company assesses relevant events and changes in circumstances, including industry and market conditions, observable earnings before interest, taxes, depreciation and amortization (“EBITDA”) multiples for peer companies, operating results, business plans, and entity-specific events that would affect the fair value or the carrying amount of a reporting unit. If it is more likely than not that the fair value of a reporting unit is less than its carrying value, the fair value of the reporting unit is compared to its carrying value. If the fair value of the reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered impaired and no further steps are required.
Impairment of long-lived assets	Impairment of long-lived assets The Company evaluates its long-lived assets, including property and equipment, software and intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying value of these assets may not be recoverable. An impairment loss is recognized when the net book value of such assets exceeds the estimated future undiscounted cash flows attributable to the assets or asset group. If impairment is indicated, the asset is written down to its estimated fair value. The Company did not recognize any impairment losses for the three or six-months ended June 30, 2018 and 2019.
Leases	Leases The Company has both cancelable and noncancelable operating leases for office space, vehicles, and office equipment. The Company adopted ASC 842, Leases, and all the related amendments on January 1, 2019, using the optional transition method to not apply the lease standard in the comparative periods presented. The Company elected the “practical expedient package” which permitted the Company to not reassess prior conclusions about lease identification, lease classification, and initial direct costs. The Company also elected the short-term lease recognition for all leases that qualify and to combine the lease and non-lease components into a single lease component for all of its leases. In accordance with ASC 842, the Company recorded a right-of-use asset and lease liability on its consolidated balance sheet for all leases that qualified. The operating lease liability represents the present value of the future minimum lease payments over the lease term using the Company’s incremental borrowing rate at the lease commencement date. The right-of-use asset reflects adjustments for the derecognition of deferred rent and prepaid rent. Leases with an initial term of 12 months or less are not recorded on the Company’s consolidated balance sheet, and are expensed on a straight-line basis over the lease term. The Company does not include any renewal periods in the lease term for its leases as sufficient economic factors do not exist that would compel it to continue to use the underlying asset beyond the initial non-cancelable term. See Note 18 – Leases for further details. Through December 31, 2018, the Company classified leases in accordance with guidance in ASC 840, Leases. For any leases that contained lease escalation or rent concession provisions, the Company recorded the total rent expense during the lease term on a straight-line basis over the term of the lease. The Company recorded the difference between the rent paid and the straight-line rent as an increase or decrease to the deferred rent liability included in accrued liabilities in its consolidated balance sheet.
Product warranties	Product warranties The Company offers a standard one-year warranty on most of its products, and records a liability within current liabilities for the estimated future costs associated with potential warranty claims. Provisions for warranty claims are recorded at the time products are sold based on historical experience factors including product failure rates, material usage, and service delivery cost incurred in correcting product failures. These provisions are reviewed and adjusted by management periodically to reflect actual and anticipated experience. The warranty costs are reflected in the Company’s consolidated statements of operations within cost of revenues. In certain circumstances, the Company may have recourse from its contract manufacturers for replacement cost of defective products, which it also factors into its warranty liability assessment.
Income taxes	Income taxes The Company accounts for income taxes under the asset and liabilty method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in its financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement carrying amount and the tax basis of assets and liabilities using enacted income tax rates in effect for the year in which the differences are expected to be recovered or settled. The effect of a change in income tax rates on deferred tax assets and liabilities is recognized in the income tax provision in the period that includes the enactment date. 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 not be realized and adjusts the valuation allowances accordingly. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In general, it is the practice and intention of the Company to reinvest the earnings of its subsidiaries in those operations. As of June 30, 2018 and 2019, the Company had not made a provision for withholding taxes on approximately $4.7 million and $7.5 million, respectively, of undistributed earnings that are indefinitely reinvested. Generally, such amounts become subject to taxation upon the remittance of dividends and under certain other circumstances. It is not practicable to estimate the amount of deferred tax liability to the undistributed earnings in these subsidiaries. The Company may be subject to income tax audits in all of the jurisdictions in which it operates and, as a result, must also assess exposures to any potential issues arising from current or future audits of current and prior years’ tax returns. Accordingly, the Company must assess such potential exposures and, where necessary, provide for any expected loss. The Company recognizes the benefit of a tax position if it is more likely than not to be sustained. Recognized tax positions are measured at the largest amount more likely than not to be realized upon settlement. To the extent that the Company establishes a liability, its income tax expense would be increased. If the Company ultimately determines that payment of these amounts is unnecessary, it reverses the liability and recognizes an income tax benefit during the period in which new information becomes available indicating that the liability is no longer necessary. The Company records an additional income tax expense in the period in which new information becomes available indicating that the income tax liability is greater than its original estimate. The Company did not record an adjustment for the period ended December 31, 2018 or June 30, 2019.
Share-based compensation	Share-based compensation The Company accounts for share-based compensation in accordance with the guidance in ASC 718, Share-based Payments, by measuring and recognizing compensation expense for all share-based payments based on estimated grant date fair values for equity settled awards and period-end fair values for cash settled awards. Employees were granted both equity settled and cash settled awards under the Vector Holdings Limited Partnership Agreement (VCH LPA) that included both time-based and performance-based equity awards and were subject to the achievement of varying participation thresholds and contingent conditions prior to being eligible to participate in distributions from Vector Cambium Holdings (Cayman) LP, (“VCH, L.P.”). For the year ended December 31, 2018, both equity-settled and cash-settled awards had not met all of the contingent conditions. Accordingly, the Company did not recognize any share-based compensation expense in its financial statements. Prior to the IPO, the Company effected a Recapitalization, which exchanged the vested share-based compensation awards held by its employees for shares and unvested share-based compensation awards for restricted shares or restricted share units issued by the Company, on a value-for-value basis. After completion of the Recapitalization and the IPO, the Company is no longer party to nor subject to any obligations under the VCH LPA. As a result of the Recapitalization and the completion of the Company’s IPO, the contingent conditions had been met on some of the share-based compensation awards and the Company recorded share-based compensation of $15.4 million related to these awards. Following the IPO, awards are granted under the 2019 Share Incentive Plan. The 2019 Share Incentive Plan provides for the grant of incentive share options, nonqualified share options, share appreciation rights, restricted share awards, restricted share units, or other share-based awards and performance awards. Effective upon pricing of the IPO of $12.00 per share, the Company issued an aggregate 2,172,000 share options and restricted share units to employees and directors and recorded an additional $0.7 million of share-based compensation expense related to these awards. See Note 11 – Share-based compensation.
Contingencies	Contingencies In accordance with ASC 450, Contingencies, the Company periodically evaluates all pending or threatened contingencies and any commitments, if any, that are reasonably likely to have a material adverse effect on its results of operations, financial position or cash flows. Liabilities for loss contingencies arising from claims, assessments, litigation, fines, penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred.
Foreign currency translation	Foreign currency translation The Company records any gain and loss associated with foreign currencies in accordance with ASC 830, Foreign Currency Matters. The reporting currency of the Company is the U.S. dollar and the functional currency is the local currency of each operating subsidiary other than for Cambium Networks, Ltd. (UK) for which the functional currency is the U.S. dollar. Local currency denominated monetary assets and liabilities are translated at exchange rates in effect at the balance sheet date, and revenues, cost of revenues and expenses are translated at the average exchange rate in effect during the applicable period. The Company recognizes foreign exchange gains and losses in other expense on its consolidated statements of operations and accumulated other comprehensive income on its consolidated balance sheets.
Research and development costs	Research and development costs Research and development expenses consists primarily of salary and benefit expenses for employees and contractors engaged in research, design and development activities, and costs for prototypes, facilities and travel costs. For 2019, research and development expenses also include share-based compensation expenses. The Company also incurs research and development costs associated with the development of software for both internal use and to be marketed externally. Research and development costs, other than those associated with the development of software that meet the criteria for capitalization, are expensed as incurred. For the three-month period ended June 30, 2018 and 2019, the Company expensed $9.7 million and $15.2 million, which included $0 and $4.9 million of share-based compensation expense, respectively, of research and development costs. For the six-month period ended June 30, 2018 and 2019, the Company expensed $19.1 million and $25.7 million, which included $0 and $4.9 million of share-based compensation expense, respectively, of research and development costs.
Recently adopted accounting pronouncements and Recently issued accounting pronouncements	Recently adopted accounting pronouncements In February 2016, the FASB issued ASU 2016-02, Leases, which sets out the principals for the recognition, measurement, presentation and disclosures of leases for both parties to a contract (i.e., lessees and lessors). This was subsequently amended by ASU 2018-01, Land Easement Practical Expedient for Transition to Topic 842, ASU 2018-10, Codification Improvements to Topic 842, Leases, and ASU 2018-11, Targeted Improvements, (collectively codified as “ASC 842”). ASC 842 requires lessees to recognize right-of-use (“ROU”) assets and lease liabilities on the balance sheet for all leases unless a lessee elects not to apply ASC 842 to short-term leases. In addition, this standard requires both lessees and lessors to disclose certain key information about lease transactions. The Company adopted ASC 842 on January 1, 2019 (the effective date), using the optional transition method to not apply the new lease standard in the comparative periods presented and elected the “practical expedient package”, which permits the Company to not reassess prior conclusions about lease identification, lease classification, and initial direct costs. ASC 842 also provides practical expedients for the Company’s ongoing accounting. The Company elected the short-term lease recognition for all leases that qualify and to combine lease and non-lease components into a single lease component for all of its leases. On January 1, 2019, the Company recognized ROU assets and operating lease liabilities of $8.2 million and $8.8 million, respectively. The difference between ROU assets and operating lease liabilities recognized is due to deferred rent recorded under prior lease accounting standards. ASC 842 requires such balances to be reclassified against ROU assets at transition. Refer to Note 18 – Leases for further details. In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income: Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This ASU provides an option to reclassify stranded tax effects within accumulated other comprehensive income (“AOCI”) to retained earnings in the period in which the effect of the change in the U.S. federal corporate income tax rate in the 2018 U.S. Tax Cuts and Job Act, and information about the income tax effects that are reclassified. The Company adopted ASU 2018-02 as of January 1, 2019. The adoption of ASU 2018-02 had no impact on the Company’s consolidated financial statements. Recently issued accounting pronouncements In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs incurred in a Cloud Computing Arrangement That is a Service Contract. The amendments in this update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the amendments in this update. The amendments in this update are effective for interim and annual periods for the Company beginning on January 1, 2020, with early adoption permitted. The amendments in this update should be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. The Company is assessing the impact the adoption of ASU 2018-15 will have on its consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326). ASU 2016-13 sets forth an expected credit loss model which requires the measurement of expected credit losses for financial instruments based on historical experience, current conditions and reasonable and supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost, and certain off-balance sheet credit exposures. ASU 2016-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. Adoption will require a modified retrospective transition. This ASU is effective for the Company in the first quarter of fiscal 2020. The Company is currently assessing the impact of ASU 2016-13 on its consolidated financial statements.

Fair Value (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Summary of Fair Value Hierarchy of Financial Assets and Liabilities

As of December 31, 2018 and June 30, 2019, the fair value hierarchy for the Company’s financial assets and liabilities was as follows (in thousands):

	December 31, 2018								June 30, 2019
	Fair Value		Level I		Level II		Level III		Fair Value		Level I		Level II		Level III
									(unaudited)
Assets:
Cash	$	4,441	$	4,441	$	—	$	—	$	71,246	$	71,246	$	—	$	—
Liabilities:
External debt	$	105,462	$	—	$	105,462	$	—	$	100,712	$	—	$	100,712	$	—
Payable to Sponsor	$	5,582	$	5,582	$	—	$	—	$	5,750	$	5,750	$	—	$	—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Balance Sheet Components (Tables)

6 Months Ended

Jun. 30, 2019

Balance Sheet Related Disclosures [Abstract]

Schedule of Accounts Receivable, Net

Receivables are recorded at invoiced amounts, net of the allowance for doubtful accounts. The receivables activity was as follows (in thousands):

	December 31,			June 30,
	2018			2019
				(unaudited)
Trade accounts receivable	$	60,235		$	62,912
Other receivables		657			219
Total receivables		60,892			63,131
Less: Allowance for doubtful accounts		(503	)		(528	)
Receivables, net	$	60,389		$	62,603

Schedule of Allowance for Doubtful Accounts Activity

The allowance for doubtful accounts activity was as follows (in thousands):

	Year ended December 31,			Six months ended June 30,
	2018			2019
				(unaudited)
Beginning balance	$	823		$	503
Increase, charged to expense		332			219
Recoveries		(213	)		(142	)
Reclassification to non-current		(180	)		—
Amounts written-off		(259	)		(52	)
Ending balance	$	503		$	528

Schedule of Inventories

Inventories consisted of the following (in thousands):

	December 31,			June 30,
	2018			2019
				(unaudited)
Finished goods	$	32,702		$	38,846
Raw materials		1,958			2,499
Gross inventory		34,660			41,345
Less: Excess and obsolete provision		(3,950	)		(4,367	)
Inventories, net	$	30,710		$	36,978

Schedule of Inventory Excess and Obsolete Provision

The following table reflects the activity in the Company’s inventory excess and obsolete provision (in thousands):

	Year ended December 31,			Six months ended June 30,
	2018			2019
				(unaudited)
Beginning balance	$	2,766		$	3,950
Inventory written off		(528	)		(101	)
Increase in excess and obsolete provision		1,712			518
Ending balance	$	3,950		$	4,367

Property and Equipment (Tables)

6 Months Ended

Jun. 30, 2019

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	2018			2019
					(unaudited)
Equipment and tooling	3 to 5 years	$	18,552		$	20,107
Computer equipment	3 to 5 years		2,644			2,925
Furniture and fixtures	10 years		666			725
Total cost			21,862			23,757
Less: Accumulated depreciation			(13,897	)		(15,660	)
Property and equipment, net		$	7,965		$	8,097

Software (Tables)

6 Months Ended

Jun. 30, 2019

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, 2018							June 30, 2019
									(unaudited)
	Useful Life	Gross carrying amount		Accumulated amortization			Net balance		Gross carrying amount		Accumulated amortization			Net balance
Unpatented technology	7 years	$	14,120	$	(14,120	)	$	—	$	14,120	$	(14,120	)	$	—
Customer relationships	18 years		11,630		(4,630	)		7,000		11,630		(4,954	)		6,676
Patents	7 years		11,300		(11,300	)		—		11,300		(11,300	)		—
Trademarks	10 years		5,270		(3,777	)		1,493		5,270		(4,041	)		1,229
Total		$	42,320	$	(33,827	)	$	8,493	$	42,320	$	(34,415	)	$	7,905

Schedule of Estimated Amortization Expense of Capitalized Software and Intangible Assets

Based on capitalized intangible assets as of June 30, 2019, estimated amortization expense amounts in future fiscal years are as follows (unaudited and in thousands):

Year ending December 31,	Amortization
Remainder of 2019		586
2020		1,173
2021		1,085
2022		646
2023		646
2024 & Thereafter		3,769
Total amortization	$	7,905

Capitalized Software Assets

Schedule of Carrying Amount and Amortization of Software and Intangible Assets

Software consisted of the following (in thousands):

		December 31, 2018							June 30, 2019
									(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	$	15,513	$	(12,802	)	$	2,711	$	15,923	$	(13,009	)	$	2,914
Software marketed for external sale	3 years		1,534		(301	)		1,233		1,741		(545	)		1,196
Total		$	17,047	$	(13,103	)	$	3,944	$	17,664	$	(13,554	)	$	4,110

Schedule of Estimated Amortization Expense of Capitalized Software and Intangible Assets

Based on capitalized software assets at June 30, 2019, estimated amortization expense in future fiscal years is as follows (unaudited and in thousands):

Year ending December 31,	Acquired and internal use software		Software marketed for external use		Total
Remainder of 2019	$	353	$	241	$	594
2020		680		580		1,260
2021		618		249		867
2022		484		109		593
2023		417		17		434
2024 & Thereafter		362		—		362
Total amortization	$	2,914	$	1,196	$	4,110

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Change in Carrying Amount of Goodwill

The change in the carrying amount of goodwill for the year ended and six-month period ended was as follows (in thousands):

	December 31,		June 30,
	2018		2019
			(unaudited)
Beginning balance	$	8,060	$	8,060
Impairment or other changes		—		—
Ending balance	$	8,060	$	8,060

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, 2018							June 30, 2019
									(unaudited)
	Useful Life	Gross carrying amount		Accumulated amortization			Net balance		Gross carrying amount		Accumulated amortization			Net balance
Unpatented technology	7 years	$	14,120	$	(14,120	)	$	—	$	14,120	$	(14,120	)	$	—
Customer relationships	18 years		11,630		(4,630	)		7,000		11,630		(4,954	)		6,676
Patents	7 years		11,300		(11,300	)		—		11,300		(11,300	)		—
Trademarks	10 years		5,270		(3,777	)		1,493		5,270		(4,041	)		1,229
Total		$	42,320	$	(33,827	)	$	8,493	$	42,320	$	(34,415	)	$	7,905

Schedule of Estimated Amortization Expense of Capitalized Software and Intangible Assets

Based on capitalized intangible assets as of June 30, 2019, estimated amortization expense amounts in future fiscal years are as follows (unaudited and in thousands):

Year ending December 31,	Amortization
Remainder of 2019		586
2020		1,173
2021		1,085
2022		646
2023		646
2024 & Thereafter		3,769
Total amortization	$	7,905

Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Current and Noncurrent Portions of External Debt Facilities

The following table reflects the current and noncurrent portions of the external debt facilities at June 30, 2019 and December 31, 2018 (in thousands):

	December 31,			June 30,
	2018			2019
				(unaudited)
Term loan facility	$	—		$	—
Tranche A		72,735			67,985
Tranche B		22,727			22,727
Revolving credit facility		10,000			10,000
Less debt issuance costs		(2,443	)		(2,309	)
Total debt		103,019			98,403
Less current portion of term facility		(9,500	)		(9,750	)
Current portion of debt issuance costs		664			718
Total long-term external debt	$	94,183		$	89,371

Schedule of Current Debt Compliance with Covenant

The Company’s current debt covenant requirements reflect the following limits required, based on the time period noted, for compliance with the covenant:

					Quarter ending
Covenant	Criteria	June 30, 2019	September 30, 2019	December 31, 2019	March 31, 2020	June 30, 2020
Monthly minimum adjusted quick ratio	Min ratio	Non quarter-end months 1.00:1.00 Quarter-end months 1.15:1.00
Quarterly consolidated fixed charge coverage ratio	Min ratio	1.10:1.00	1.15:1.00	1.25:1.00	1.25:1.00	1.25:1.00
Quarterly consolidated fixed charge coverage ratio	Time period	Trailing six-month	Trailing nine-month	Trailing twelve-month
Quarterly consolidated leverage ratio	Max ratio	3.75:1.00	3.25:1.00	3.00:1.00	3.00:1.00	2.75:1.00
Quarterly consolidated leverage ratio	Time period	Trailing twelve month

Share Based Compensation (Tables)

6 Months Ended

Jun. 30, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Number of MIUs and Phantom Units Part of Recapitalization

The following table reflects the number of MIUs and phantom units (not including the Class A units) exchanged as part of the Recapitalization (unaudited):

	Number of units (time-based)			Number of units (performance-based)
Balance at December 31, 2017		9,843,098			5,417,093
Granted		2,440,000			—
Forfeitures and cancellations		(139,800	)		—
Balance at December 31, 2018		12,143,298			5,417,093
Granted		234,000			—
Forfeitures		(82,100	)		—
Recapitalization - cancellations		(2,622,250	)		—
Recapitalization - converted to restricted shares		(758,138	)		(4,038,643	)
Recapitalization - converted to shares		(8,914,810	)		(1,378,450	)
Balance at June 30, 2019		—			—

Summary of Changes in Number of Shares Available for Grant

The following table summarizes changes in the number of shares available for grant under the Company’s equity incentive plans during the six-month period ended June 30, 2019:

	Number of shares
Available for grant at December 31, 2018		—
Recapitalization Awards authorized		240,037
2019 Share Incentive Plan		3,400,000
RSUs granted, including Recapitalization Awards		(294,037	)
Options granted		(2,118,000	)
Available for grant at June 30, 2019		1,228,000

Schedule of Total Share Based Compensation Expense

The following table shows total share-based compensation expense for the three and six-month periods ended June 30, 2018 and 2019 (unaudited and in thousands):

	Three months ended June 30,				Six months ended June 30,
	2018		2019		2018		2019
Cost of revenues	$	—	$	182	$	—	$	182
Research and development		—		4,863		—		4,863
Sales and marketing		—		3,607		—		3,607
General and administrative		—		7,426		—		7,426
Total share-based compensation expense	$	—	$	16,078	$	—	$	16,078

Summary of Stock Option Activity

The following is a summary of option activity for the Company’s share incentive plans for the six-months ended June 30, 2019 (unaudited):

	Options		Weighted average exercise price		Weighted Average remaining contractual term (years)		Aggregate intrinsic value
Outstanding at December 31, 2018		—	$	—		—	$	—
Options granted		2,118,000	$	12		—	$	—
Outstanding at June 30, 2019		2,118,000	$	12		—	$	—
Options exercisable at June 30, 2019		57,500	$	12		8.7	$	—
Options vested and expected to vest at June 30, 2019		2,050,100	$	12		10.0	$	—

Schedule of Estimated Fair Value of Weighted Average Assumptions

	For the six months ended June 30,
	2018		2019
Expected dividend yield		—		—
Risk-free interest rate		—		1.82	%
Weighted-average expected volatility		—		40.8	%
Expected term (in years)		—		6.0
Weighted average grant-date fair value per share of options granted		—	$	5.00

Summary of Restricted Shares Activity

The following is a summary of restricted shares activity for the Company’s share incentive plans for the six-months ended June 30, 2019 (unaudited):

	Units		Weighted average grant date fair value
RSU balance at December 31, 2018		—	$	—
RSUs granted		294,037	$	12
RSU balance at June 30, 2019		294,037	$	12
RSUs expected to vest at June 30, 2019		86,911	$	12

Share Capital - Shares (Tables)

6 Months Ended

Jun. 30, 2019

Stockholders Equity Note [Abstract]

Shares (Share Capital Activity)

The following table reflects the share capital activity:

	Number of shares			Value (in thousands)
Balance at December 31, 2017		77,179		$	—
Shares issued/cancelled		—			—
Balance at December 31, 2018		77,179		$	—
Issuance of shares to VCH, L.P. as part of Recapitalization		13,523,232		$	1
Issuance of shares to VCH, L.P for return of capital and accumulated yield		4,104,343			1
Issuance of shares to MIU holders		2,221,875			—
Shares withheld for net settlement of shares issued to MIU holders		(94,383	)		—
Issuance of shares in Initial Public Offering		5,800,000			1
Balance at June 30, 2019		25,632,246		$	3

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Earnings (Loss) Per Share

The following table sets forth the computation of basic and diluted net earnings (loss) per share (unaudited and in thousands, except for share and per share data):

	Three Months Ended June 30,					Six Months Ended June 30,
	2018		2019			2018		2019
Numerator:
Net income (loss)	$	525	$	(20,374	)	$	298	$	(18,512	)
Denominator:
Shares outstanding used in computing net income (loss), basic and diluted		13,600,411		13,865,111			13,600,411		13,732,760
Net income (loss) per share, basic and diluted	$	0.04	$	(1.47	)	$	0.02	$	(1.35	)

Segment Information and Revenues by Geography (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of Revenue 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,
	2018				2019				2018				2019
Point-to-MultiPoint	$	35,068	58	%	$	41,730	60	%	$	72,308	61	%	$	84,057	61	%
Point-to-Point		17,748	29	%		17,830	26	%		33,707	28	%		37,464	28	%
Wi-Fi		6,810	11	%		8,430	12	%		11,167	9	%		14,016	10	%
Other		1,393	2	%		1,161	2	%		2,290	2	%		1,726	1	%
Total Revenues	$	61,019	100	%	$	69,151	100	%	$	119,472	100	%	$	137,263	100	%

Schedule of Revenue by Geography

Revenue by geography were as follows (unaudited and in thousands, except percentages):

	Three Months Ended June 30,								Six Months Ended June 30,
	2018				2019				2018				2019
North America	$	27,339	45	%	$	30,056	44	%	$	51,578	43	%	$	64,420	47	%
Europe, Middle East and Africa		17,275	28	%		22,994	33	%		36,886	31	%		44,964	33	%
Caribbean and Latin America		8,036	13	%		8,420	12	%		16,975	14	%		15,519	11	%
Asia Pacific		8,369	14	%		7,681	11	%		14,033	12	%		12,360	9	%
Total Revenues	$	61,019	100	%	$	69,151	100	%	$	119,472	100	%	$	137,263	100	%

Revenue from Contracts with Customers (Table)

6 Months Ended

Jun. 30, 2019

Revenue From Contract With Customer [Abstract]

Summary of Contract Balances

The following table summarizes contract balances as of December 31, 2018 and June 30, 2019:

	December 31, 2018		June 30, 2019
Trade accounts receivable, net of allowance for doubtful accounts	$	59,797	$	62,449
Deferred revenue - current		2,770		2,203
Deferred revenue - noncurrent		1,541		1,916
Refund Liability	$	1,810	$	2,478

Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Components of Lease Expense

The components of lease expense were as follows and are included in general and administrative expense (in thousands):

	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Operating lease cost	$	588	$	1,177
Short-term lease cost		31		90
Variable lease costs		98		199
Total lease expense	$	717	$	1,466

Supplemental Balance Sheet Information

Supplemental balance sheet information related to leases were as follows (in thousands, except lease term and discount rate):

	Balance Sheet Caption	June 30, 2019
Operating leases:
Operating lease assets	Operating lease assets	$	7,326
Current lease liabilities	Other current liabilities	$	1,863
Noncurrent lease liabilities	Noncurrent operating lease liabilities	$	6,058
Weighted average remaining lease term (years):
Operating leases			4.43
Weighted average discount rate:
Operating leases			8.50	%

Supplemental Cash Flow Information

Supplemental cash flow information related to leases were as follows (in thousands):

	Six Months Ended
	June 30, 2019
Supplemental cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	1,189

Maturities on Lease Liabilities

Maturities on lease liabilities as of June 30, 2019 were as follows (in thousands):

	Operating leases
2019 (excludes the six months ended June 30, 2019)	$	1,219
2020		2,499
2021		2,270
2022		1,307
2023		1,268
Thereafter		995
Total lease payments		9,558
Less: interest		1,637
Present value of lease liabilities	$	7,921

Future Payments Under Operating Lease Agreements

Future payments under operating lease agreements as of December 31, 2018 were as follows (in thousands):

		2019				2020				2021				2022				2023				Thereafter				Total
Operating leases		$	2,409			$	2,418			$	2,203			$	1,307			$	1,267			$	1,072			$	10,676

Business and Significant Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Thousands				1 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
	Jul. 01, 2019 USD ($)	Jun. 28, 2019 USD ($) $ / shares shares	Jun. 06, 2019 shares	Jun. 30, 2019 USD ($) $ / shares shares	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($) Segment Reporting_Unit Customer $ / shares shares	Jun. 30, 2018 USD ($) Customer	Jun. 30, 2019 USD ($) Segment Reporting_Unit Customer $ / shares shares	Jun. 30, 2018 USD ($) Customer	Dec. 31, 2018 USD ($) Customer shares	Apr. 23, 2019 shares	Jan. 01, 2019 USD ($)	Oct. 28, 2011 shares
Business And Significant Accounting Policies [Line Items]
Share subdivision ratio			100
Shares issued during period \| shares								5,800,000
Proceeds from issuance of initial public offering		$ 66,000						$ 65,988
Payment of offering costs								1,007
Paydown debt	$ 30,700							$ 4,750	$ 2,250
Additional offering expenses					$ 3,300
Ordinary shares, authorized \| shares			500,000,000	500,000,000		500,000,000		500,000,000		500,000,000	5,000,000
Shares issued VCH, L.P. \| shares			77,179	25,726,629		25,726,629		25,726,629		77,179	771.79		771.79
Restricted share awards granted \| shares								240,037
Share-based compensation		15,400		$ 15,400				$ 16,078
Issue price of share options and restricted share units \| $ / shares				$ 12		$ 12		$ 12
Number of operating segment \| Segment						1		1
Number of reporting unit \| Reporting_Unit						1		1
Deferred offering costs capitalized				$ 2,300		$ 2,300		$ 2,300		$ 2,000
Deferred offering costs offset against IPO		$ 4,300
Undistributed earnings				7,500		7,500	$ 4,700	7,500	4,700
Research and development						15,189	9,688	25,671	19,073
Operating lease assets				7,326		7,326		7,326
Operating lease liabilities				$ 7,921		7,921		7,921
ASC 842
Business And Significant Accounting Policies [Line Items]
Operating lease assets												$ 8,200
Operating lease liabilities												$ 8,800
Research and Development Costs
Business And Significant Accounting Policies [Line Items]
Share-based compensation						$ 4,900	$ 0	$ 4,900	$ 0
Accounts Receivables \| Customer Concentration Risk
Business And Significant Accounting Policies [Line Items]
Concentration risk, percentage						10.00%				10.00%
Number of customers \| Customer						1				1
Revenues \| Customer Concentration Risk
Business And Significant Accounting Policies [Line Items]
Concentration risk, percentage						10.00%	10.00%	10.00%	10.00%
Number of customers \| Customer						2	1	3	2
Minimum
Business And Significant Accounting Policies [Line Items]
Collection period for trade accounts receivable						30 days
Intangible asset, estimated useful life								7 years
Minimum \| Internal use Software
Business And Significant Accounting Policies [Line Items]
Intangible asset, estimated useful life								3 years
Minimum \| Available for Sale Software
Business And Significant Accounting Policies [Line Items]
Intangible asset, estimated useful life								3 years
Maximum
Business And Significant Accounting Policies [Line Items]
Collection period for trade accounts receivable						60 days
Intangible asset, estimated useful life								18 years
Maximum \| Internal use Software
Business And Significant Accounting Policies [Line Items]
Intangible asset, estimated useful life								7 years
VCH, L.P.
Business And Significant Accounting Policies [Line Items]
Shares issued during period \| shares		17,627,575						17,627,575
Shares sold, price per share \| $ / shares		$ 12.00
Shares issued VCH, L.P. \| shares				17,704,754		17,704,754		17,704,754
Employees and Service Providers
Business And Significant Accounting Policies [Line Items]
Shares issued during period \| shares								2,127,492
Employees and Directors
Business And Significant Accounting Policies [Line Items]
Share-based compensation								$ 700
Share options and restricted share units issued \| shares								2,172,000
IPO
Business And Significant Accounting Policies [Line Items]
Shares issued during period \| shares		5,800,000						5,800,000
Shares sold, price per share \| $ / shares		$ 12.00		$ 12.00		$ 12.00		$ 12.00
Underwriting discounts and commissions		$ 3,600
Payment of offering costs		$ 1,000
Issue price of share options and restricted share units \| $ / shares				12.00		12.00		$ 12.00
IPO \| VCH, L.P.
Business And Significant Accounting Policies [Line Items]
Shares issued during period \| shares								1,500,000
Shares sold, price per share \| $ / shares		$ 12		12.00		12.00		$ 12.00
IPO \| Employees and Directors
Business And Significant Accounting Policies [Line Items]
Issue price of share options and restricted share units \| $ / shares				$ 12.00		$ 12.00		$ 12.00

Fair Value - Summary of Fair Value Hierarchy of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
External Debt
Liabilities:
Liabilities	$ 100,712	$ 105,462
Payable to Sponsor
Liabilities:
Liabilities	5,750	5,582
Cash
Assets:
Assets	71,246	4,441
Level 1 \| Payable to Sponsor
Liabilities:
Liabilities	5,750	5,582
Level 1 \| Cash
Assets:
Assets	71,246	4,441
Level 2 \| External Debt
Liabilities:
Liabilities	$ 100,712	$ 105,462

Balance Sheet Components - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts Notes And Loans Receivable [Line Items]
Total receivables	$ 63,131	$ 60,892
Less: Allowance for doubtful accounts	(528)	(503)	$ (823)
Receivables, net	62,603	60,389
Trade Accounts Receivable
Accounts Notes And Loans Receivable [Line Items]
Total receivables	62,912	60,235
Other Receivables
Accounts Notes And Loans Receivable [Line Items]
Total receivables	$ 219	$ 657

Balance Sheet Components - Schedule of Allowance for Doubtful Accounts Activity (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Accounts Receivable Net Current [Abstract]
Beginning balance	$ 503	$ 823
Increase, charged to expense	219	332
Recoveries	(142)	(213)
Reclassification to non-current		(180)
Amounts written-off	(52)	(259)
Ending balance	$ 528	$ 503

Balance Sheet Components - Schedule of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
Inventory Net [Abstract]
Finished goods	$ 38,846	$ 32,702
Raw materials	2,499	1,958
Gross inventory	41,345	34,660
Less: Excess and obsolete provision	(4,367)	(3,950)	$ (2,766)
Inventories, net	$ 36,978	$ 30,710

Balance Sheet Components - Schedule of Inventory Excess and Obsolete Provision (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Inventory Net [Abstract]
Beginning balance	$ 3,950	$ 2,766
Inventory written off	(101)	(528)
Increase in excess and obsolete provision	518	1,712
Ending balance	$ 4,367	$ 3,950

Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Property Plant And Equipment [Line Items]
Total cost	$ 23,757	$ 21,862
Less: Accumulated depreciation	(15,660)	(13,897)
Property and equipment, net	8,097	7,965
Equipment and Tooling
Property Plant And Equipment [Line Items]
Total cost	$ 20,107	18,552
Equipment and Tooling \| Minimum
Property Plant And Equipment [Line Items]
Useful Life	3 years
Equipment and Tooling \| Maximum
Property Plant And Equipment [Line Items]
Useful Life	5 years
Computer Equipment
Property Plant And Equipment [Line Items]
Total cost	$ 2,925	2,644
Computer Equipment \| Minimum
Property Plant And Equipment [Line Items]
Useful Life	3 years
Computer Equipment \| Maximum
Property Plant And Equipment [Line Items]
Useful Life	5 years
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Useful Life	10 years
Total cost	$ 725	$ 666

Software - Schedule of Software (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 17,664	$ 17,047
Accumulated Amortization	(13,554)	(13,103)
Net Balance	$ 4,110	3,944
Minimum
Finite Lived Intangible Assets [Line Items]
Useful Life	7 years
Maximum
Finite Lived Intangible Assets [Line Items]
Useful Life	18 years
Acquired and Software for Internal Use
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 15,923	15,513
Accumulated Amortization	(13,009)	(12,802)
Net Balance	$ 2,914	2,711
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	$ 1,741	1,534
Accumulated Amortization	(545)	(301)
Net Balance	$ 1,196	$ 1,233

Software - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Minimum
Finite Lived Intangible Assets [Line Items]
Useful Life			7 years
Maximum
Finite Lived Intangible Assets [Line Items]
Useful Life			18 years
Acquired and Software for Internal Use
Finite Lived Intangible Assets [Line Items]
Amortization expense	$ 0.1	$ 0.6	$ 0.2	$ 1.1
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
Amortization expense	$ 0.2	$ 0.0	$ 0.2	$ 0.1

Software - Schedule of Estimated Amortization Expense of Capitalized Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Finite Lived Intangible Assets [Line Items]
Remainder of 2019	$ 586
2020	1,173
2021	1,085
2022	646
2023	646
2024 & Thereafter	3,769
Total amortization	7,905	$ 8,493
Capitalized Software Assets
Finite Lived Intangible Assets [Line Items]
Remainder of 2019	594
2020	1,260
2021	867
2022	593
2023	434
2024 & Thereafter	362
Total amortization	4,110
Capitalized Software Assets \| Acquired and Internal Use Software
Finite Lived Intangible Assets [Line Items]
Remainder of 2019	353
2020	680
2021	618
2022	484
2023	417
2024 & Thereafter	362
Total amortization	2,914
Capitalized Software Assets \| Software Marketed for External Use
Finite Lived Intangible Assets [Line Items]
Remainder of 2019	241
2020	580
2021	249
2022	109
2023	17
Total amortization	$ 1,196

Goodwill and Intangible Assets - Additional Information (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019 USD ($) Segment	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) Segment Subsidiary	Jun. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Number of operating segment \| Segment	1		1
Number of reportable segments \| Segment			1
Number of operating subsidiaries \| Subsidiary			2
Adjustments to carrying value of goodwill					$ 0
Impairment of goodwill					0
Goodwill	$ 8,060,000		$ 8,060,000		$ 8,060,000	$ 8,060,000
Amortization expense	$ 300,000	$ 1,200,000	$ 600,000	$ 2,400,000

Goodwill and Intangible Assets - Schedule of Carrying Amount and Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 42,320	$ 42,320
Accumulated amortization	(34,415)	(33,827)
Total amortization	$ 7,905	8,493
Unpatented Technology
Finite Lived Intangible Assets [Line Items]
Useful Life	7 years
Gross carrying amount	$ 14,120	14,120
Accumulated amortization	$ (14,120)	(14,120)
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Useful Life	18 years
Gross carrying amount	$ 11,630	11,630
Accumulated amortization	(4,954)	(4,630)
Total amortization	$ 6,676	7,000
Patents
Finite Lived Intangible Assets [Line Items]
Useful Life	7 years
Gross carrying amount	$ 11,300	11,300
Accumulated amortization	$ (11,300)	(11,300)
Trademarks
Finite Lived Intangible Assets [Line Items]
Useful Life	10 years
Gross carrying amount	$ 5,270	5,270
Accumulated amortization	(4,041)	(3,777)
Total amortization	$ 1,229	$ 1,493

Goodwill and Intangible Assets - Schedule of Estimated Amortization Expense of Capitalized Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Finite Lived Intangible Assets Net [Abstract]
Remainder of 2019	$ 586
2020	1,173
2021	1,085
2022	646
2023	646
2024 & Thereafter	3,769
Total amortization	$ 7,905	$ 8,493

Debt - Additional Information (Details)						3 Months Ended				6 Months Ended
Debt - Additional Information (Details)	Jun. 28, 2019 USD ($)	Jan. 01, 2019 USD ($)	Nov. 30, 2018 USD ($)	Dec. 21, 2017 USD ($)	Mar. 22, 2017 USD ($)	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Administrative fees			$ 250,000
Loan repayment in thereafter quarter								$ 2,500,000		$ 2,500,000
Percentage of excess of cash payable to lender								50.00%		50.00%
Interest expense								$ 2,100,000	$ 2,300,000	$ 4,600,000	$ 3,800,000
First Quarter
Debt Instrument [Line Items]
Loan repayment in each quarter		$ 2,375,000
Second Quarter
Debt Instrument [Line Items]
Loan repayment in each quarter		2,375,000
Third Quarter
Debt Instrument [Line Items]
Loan repayment in each quarter		2,375,000
Fourth Quarter
Debt Instrument [Line Items]
Loan repayment in each quarter		$ 2,375,000
Second Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Credit facility, expiration date					Mar. 22, 2022
Line of credit facility, maximum borrowing capacity					$ 45,000,000
Third Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Debt outstanding	$ 70,000,000
Line of credit facility, maximum borrowing capacity				$ 100,000,000
Loan repayment in each quarter	2,375,000
Payment to lenders	30,700,000
Quarterly consolidated fixed charge coverage ratio										125.00%
Term Loan Facility
Debt Instrument [Line Items]
Debt outstanding								$ 90,700,000		$ 90,700,000		$ 95,500,000
Line of credit facility, maximum increase in borrowing capacity				40,000,000
Term Loan Facility \| Base Rate
Debt Instrument [Line Items]
Debt instrument base rate								4.75%
Term Loan Facility \| Scenario Forecast \| Base Rate
Debt Instrument [Line Items]
Debt instrument base rate						4.00%	4.25%
Term Loan Facility \| Second Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Debt outstanding					30,000,000
Line of credit facility, maximum borrowing capacity					35,000,000
Term Loan Facility \| Third Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Debt outstanding	72,400,000
Line of credit facility, maximum borrowing capacity				$ 90,000,000
Debt instrument, maturity date				Dec. 21, 2022
Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding								$ 10,000,000		10,000,000		10,000,000
Debt instrument, principal amount			10,000,000
Revolving Credit Facility \| Second Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					10,000,000
Revolving Credit Facility \| Third Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Debt outstanding	$ 10,000,000
Credit facility, expiration date				Dec. 21, 2022
Line of credit facility, maximum borrowing capacity				$ 10,000,000
Letter of Credit Sub-facility \| Second Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 10,000,000
Letter of Credit Sub-facility \| Third Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 5,000,000
Term Loan Facility Tranche A
Debt Instrument [Line Items]
Debt outstanding								67,985,000		67,985,000		72,735,000
Debt instrument, principal amount			73,900,000
Outstanding revolving loan amount converted to term loan			10,000,000
Term Loan Facility Tranche B
Debt Instrument [Line Items]
Debt outstanding								$ 22,727,000		$ 22,727,000		$ 22,727,000
Debt instrument, principal amount			22,700,000
Maximum guarantee payment amount			$ 25,000,000
Maximum guarantee payment amount equal to debt			1.10

Debt - Schedule of Current and Noncurrent Portions of External Debt Facilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Less debt issuance costs	$ (2,309)	$ (2,443)
Total debt	98,403	103,019
Less current portion of term facility	(9,750)	(9,500)
Current portion of debt issuance costs	718	664
Long-term external debt	89,371	94,183
Term Loan Facility
Debt Instrument [Line Items]
Long-term debt, Gross	90,700	95,500
Term Loan Facility Tranche A
Debt Instrument [Line Items]
Long-term debt, Gross	67,985	72,735
Term Loan Facility Tranche B
Debt Instrument [Line Items]
Long-term debt, Gross	22,727	22,727
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, Gross	$ 10,000	$ 10,000

Debt - Schedule of Current Debt Compliance with Covenant (Details)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Monthly minimum adjusted quick ratio, Non quarter-end months	100.00%
Monthly minimum adjusted quick ratio, Quarter-end months	115.00%
Consolidated fixed charge coverage ratio second quarter	110.00%
Consolidated fixed charge coverage ratio third quarter	115.00%
Consolidated fixed charge coverage ratio fourth quarter	125.00%
Consolidated fixed charge coverage ratio first quarter of next year	125.00%
Consolidated fixed charge coverage ratio second quarter of next year	125.00%
Consolidated fixed charge coverage ratio description, six month	Trailing six-month
Consolidated fixed charge coverage ratio description,nine month	Trailing nine-month
Consolidated fixed charge coverage ratio description, twelve month	Trailing twelve-month
Consolidated leverage coverage ratio second quarter	375.00%
Consolidated leverage ratio third quarter	325.00%
Consolidated leverage ratio fourth quarter	300.00%
Consolidated leverage ratio first quarter of next year	300.00%
Consolidated leverage ratio second quarter of next year	275.00%
Consolidated leverage ratio description, twelve month	Trailing twelve month

Loan from Sponsor and Capital Contribution - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands				1 Months Ended	6 Months Ended
	Jun. 28, 2019	Dec. 21, 2017	Jul. 31, 2017	Oct. 31, 2011	Jun. 30, 2019
Loan from Sponsor and Capital Contribution [Line Items]
Issuance of additional shares for the unreturned capital and accumulated yield					$ 49,252
VCH, L.P.
Loan from Sponsor and Capital Contribution [Line Items]
Cash return of contributed capital		$ 65,700
Shares sold, price per share	$ 12.00
VCH, L.P. \| Class A Units
Loan from Sponsor and Capital Contribution [Line Items]
Issuance of additional shares for the unreturned capital and accumulated yield	$ 49,200
Convertible Preferred Equity Certificates
Loan from Sponsor and Capital Contribution [Line Items]
Percentage of fixed yield component				1.00%
Redeemable period				49 years
Convertible Preferred Equity Certificates \| VCH, L.P.
Loan from Sponsor and Capital Contribution [Line Items]
Non-cash capital contributions			$ 88,400
Principal from related party			62,500
Accrued interest			$ 25,900

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
U.S. Pan
Defined Benefit Plan Disclosure [Line Items]
Percentage of employer contribution to employee contribution plan dollar for dollar match			4.00%
Defined contribution plan, employer discretionary contribution amount	$ 0.3	$ 0.2	$ 0.5	$ 0.6
UK Plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employee matching contribution, percent of match			3.00%
Defined contribution plan, employer matching contribution, percent of match			5.00%
Defined contribution plan, employer matching contribution, percent of employees' gross pay			1.00%
Defined contribution plan, maximum annual contributions per employee, percent			7.00%
Defined contribution plan, total contribution by the company	$ 0.1	$ 0.1	$ 0.2	$ 0.2

Share Based Compensation - Additional Information (Details) - USD ($)		1 Months Ended	3 Months Ended	6 Months Ended
	Jun. 28, 2019	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 15,400,000	$ 15,400,000		$ 16,078,000
Number of shares issued for exchange of management incentive				2,221,325
Number of restricted share awards and restricted share unit phantom units				240,327
Number of share held in treasury payment due against outstanding management incentive and phantom units				94,383
Shares granted				294,037
Exercise price of options		$ 12	$ 12	$ 12
Pretax unrecognized compensation expense				$ 12,900,000
Forfeiture rate utilized for estimating forfeitures of options and restricted share units granted.				5.00%
Share options contractual term				10 years
Aggregate intrinsic value of options exercised			$ 0
Share options exercised				0
Unrecognized pre-tax share based compensation expense related to unvested share option awards		$ 9,500,000	9,500,000	$ 9,500,000
Unrecognized pre-tax compensation expense related to unvested share awards		$ 3,400,000	$ 3,400,000	$ 3,400,000
IPO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share price	$ 12.00	$ 12.00	$ 12.00	$ 12.00
Exercise price of options		$ 12.00	$ 12.00	$ 12.00
Employee Share Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of outstanding shares added annually		275,000
Percentage of outstanding shares		1.00%
Total number of shares available under ESPP		550,000
RSAs and RSUs \| IPO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted				240,037
RSAs and RSUs \| IPO \| Carry-forward Prior Vesting Terms and Expiration Dates
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted				34,111
Phantom Unit Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense			$ 2,200,000	$ 2,200,000
RSAs \| IPO \| Vest Upon Achievement of Total Equity Return Multiple
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted				205,926
2011 Management Incentive Compensation Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 15,400,000
2019 Share Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense				$ 700,000
Number of shares issued				3,400,000
Percentage of outstanding shares		5.00%
Aggregate of options and restricted share units granted				2,172,000
Exercise price of options		$ 12.00	$ 12.00	$ 12.00
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 \| IPO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares issued		3,400,000
2019 Share Incentive Plan \| RSAs and RSUs \| IPO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted		240,037
2019 Share Incentive Plan \| Recapitalization Awards \| IPO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share price		$ 12.00	$ 12.00	$ 12.00
2019 Share Incentive Plan \| RSAs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted				54,000

Share Based Compensation - Schedule of Number of MIUs and Phantom Units Part of Recapitalization (Details) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted	2,118,000
Ending balance	2,118,000
Time-Based Units \| 2011 Management Incentive Compensation Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance	12,143,298	9,843,098
Granted	234,000	2,440,000
Forfeitures and cancellations	(82,100)	(139,800)
Recapitalization - cancellations	(2,622,250)
Recapitalization - converted to restricted shares	(758,138)
Recapitalization - converted to shares	(8,914,810)
Ending balance		12,143,298
Performance-Based Units \| 2011 Management Incentive Compensation Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance	5,417,093	5,417,093
Recapitalization - converted to restricted shares	(4,038,643)
Recapitalization - converted to shares	(1,378,450)
Ending balance		5,417,093

Share Based Compensation - Summary of Changes in Number of Shares Available for Grant (Details)	6 Months Ended
	Jun. 30, 2019 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted	(2,118,000)
2019 Share Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Recapitalization Awards authorized	240,037
Number of shares issued	3,400,000
RSUs granted, including Recapitalization Awards	(294,037)
Options granted	(2,118,000)
Available for grant, ending balance	1,228,000

Share Based Compensation - Schedule of Total Share Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 16,078	$ 16,078
Cost of Revenues
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	182	182
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	4,863	4,863
Sales and Marketing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	3,607	3,607
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 7,426	$ 7,426

Share Based Compensation - Summary of Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2019 $ / shares shares
Options
Options granted \| shares	2,118,000
Ending balance \| shares	2,118,000
Options exercisable \| shares	57,500
Options vested and expected to vest \| shares	2,050,100
Weighted average exercise price
Weighted average exercise price, Options granted \| $ / shares	$ 12
Weighted average exercise price, Outstanding ending balance \| $ / shares	12
Weighted average exercise price, Options exercisable \| $ / shares	12
Weighted average exercise price, Options vested and expected to vest \| $ / shares	$ 12
Weighted average remaining contractual term (years)
Weighted average remaining contractual term, options exercisable	8 years 8 months 12 days
Weighted average remaining contractual term, options vested and expected to vest	10 years

Share Based Compensation - Schedule of Estimated Fair Value of Weighted Average Assumptions (Details)	6 Months Ended
	Jun. 30, 2019 $ / shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Risk-free interest rate	1.82%
Weighted-average expected volatility	40.80%
Expected term (in years)	6 years
Weighted average grant-date fair value per share of options granted	$ 5.00

Share Based Compensation - Summary of Restricted Shares Activity (Details) - $ / shares	6 Months Ended
	Jun. 30, 2019
Number of Units
Shares granted	294,037
Number of Units, RSU, ending balance	294,037
Number of Units, RSU, expected to vest	86,911
Weighted average grant date fair value
Weighted average grant date fair value, RSU, granted	$ 12
Weighted average grant date fair value, RSU, ending balance	12
Weighted average grant date fair value, RSU, expected to vest	$ 12

Share Capital - Shares (Share Capital Activity) (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 28, 2019	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Schedule Of Capitalization Equity [Line Items]
Beginning balance, shares			77,179	77,179
Shares issued/cancelled
Issuance of shares in Initial Public Offering, Number of shares			5,800,000
Ending balance, shares		25,632,246	25,632,246	77,179
Beginning balance		$ (18,711)	$ (20,571)	$ (17,826)
Shares issued/cancelled
Issuance of shares in Initial Public Offering, Value		61,735	61,735
Ending balance		$ 3	$ 3
IPO
Schedule Of Capitalization Equity [Line Items]
Issuance of shares in Initial Public Offering, Number of shares	5,800,000		5,800,000
Issuance of shares in Initial Public Offering, Value			$ 1
MIU Holders
Schedule Of Capitalization Equity [Line Items]
Issuance of shares to MIU holders, Number of shares			2,221,875
Shares withheld for net settlement of shares issued to MIU holders, Number of shares			(94,383)
VCH, L.P.
Schedule Of Capitalization Equity [Line Items]
Issuance of shares to VCH, L.P. as part of Recapitalization, Number of shares	13,523,232		13,523,232
Issuance of shares to VCH, L.P for return of capital and accumulated yield, Number of shares	4,104,343		4,104,343
Issuance of shares in Initial Public Offering, Number of shares	17,627,575		17,627,575
Issuance of shares to VCH, L.P. as part of Recapitalization, Value			$ 1
Issuance of shares to VCH, L.P for return of capital and accumulated yield, Value			$ 1
VCH, L.P. \| IPO
Schedule Of Capitalization Equity [Line Items]
Issuance of shares in Initial Public Offering, Number of shares			1,500,000

Share Capital - Shares - Additional Information (Details) - $ / shares		3 Months Ended	6 Months Ended
	Jun. 28, 2019	Jun. 30, 2019	Jun. 30, 2019	Jun. 06, 2019	Apr. 23, 2019	Dec. 31, 2018	Oct. 28, 2011
Common stock, shares issued		25,726,629	25,726,629	77,179	771.79	77,179	771.79
Common stock, par value		$ 0.0001	$ 0.0001	$ 0.0001	$ 0.01	$ 0.0001	$ 0.01
Common stock dividends declared			0
Common stock dividends paid			$ 0
Common stock, shares authorized		500,000,000	500,000,000	500,000,000	5,000,000	500,000,000
Common stock, shares, outstanding		25,632,246	25,632,246	77,179	771.79	77,179
Shares issued during period			5,800,000
Shares withheld		94,383	94,383			0
VCH, L.P.
Common stock, shares issued		17,704,754	17,704,754
Share price	$ 12.00
Shares issued during period	17,627,575		17,627,575
MIU Holders
Issuance of shares to MIU holders			2,221,875
Employees and Service Providers
Shares issued during period			2,127,492
Issuance of shares to MIU holders	2,221,875
Shares withheld		94,383	94,383
Employees and Service Providers \| MIU Holders
Issuance of shares to MIU holders			2,221,875
IPO
Share price	$ 12.00	$ 12.00	$ 12.00
Shares issued during period	5,800,000		5,800,000
IPO \| VCH, L.P.
Share price	$ 12	$ 12.00	$ 12.00
Shares issued during period			1,500,000
Common Stock
Share price							$ 1,000
Shares issued during period		5,800,000	5,800,000

Earnings Per Share - Computation of Basic and Diluted Net Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Numerator:
Net income (loss)	$ (20,374)	$ 525	$ (18,512)	$ 298
Denominator:
Shares outstanding used in computing net income (loss), basic and diluted	13,865,111	13,600,411	13,732,760	13,600,411
Net income (loss) per share, basic and diluted	$ (1.47)	$ 0.04	$ (1.35)	$ 0.02

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Earnings Per Share - Additional Information (Details) - $ / shares		6 Months Ended
	Jun. 28, 2019	Jun. 30, 2019	Jun. 06, 2019	Apr. 23, 2019	Dec. 31, 2018	Oct. 28, 2011
Earnings Per Share Basic [Line Items]
Common stock, authorized		500,000,000	500,000,000	5,000,000	500,000,000
Common stock, par value		$ 0.0001	$ 0.0001	$ 0.01	$ 0.0001	$ 0.01
Common stock, shares issued		25,726,629	77,179	771.79	77,179	771.79
Common stock, shares, outstanding		25,632,246	77,179	771.79	77,179
Additional shares issued as part of recapitalization		5,800,000
Employees and Service Providers
Earnings Per Share Basic [Line Items]
Additional shares issued as part of recapitalization		2,127,492
Issuance of shares to MIU holders	2,221,875
IPO
Earnings Per Share Basic [Line Items]
Additional shares issued as part of recapitalization	5,800,000	5,800,000
Share price	$ 12.00	$ 12.00
VCH, L.P.
Earnings Per Share Basic [Line Items]
Common stock, shares issued		17,704,754
Additional shares issued as part of recapitalization	17,627,575	17,627,575
Issuance of shares as part of recapitalization	13,523,232	13,523,232
Shares related to unreturned of capital and accumulated yield	4,104,343	4,104,343
Share price	$ 12.00
VCH, L.P. \| IPO
Earnings Per Share Basic [Line Items]
Additional shares issued as part of recapitalization		1,500,000
Share price	$ 12	$ 12.00

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense	$ 8,623	$ 171	$ 9,038	$ 117
Effective tax rate	(73.40%)	24.60%	(95.40%)	28.20%
Deferred tax assets, carryforwards					$ 7,400
Deferred tax assets valuation allowance including tax impacts recognized on recapitalization	$ 400		$ 800
Deferred tax assets	800		800
Total valuation allowance	$ 8,200		$ 8,200

Segment Information and Revenues by Geography - Schedule of Revenue by Product Category (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Revenues	$ 69,151	$ 61,019	$ 137,263	$ 119,472
Sales Revenue, Product Line \| Product Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	100.00%	100.00%	100.00%	100.00%
Point-to-MultiPoint
Segment Reporting Information [Line Items]
Revenues	$ 41,730	$ 35,068	$ 84,057	$ 72,308
Point-to-MultiPoint \| Sales Revenue, Product Line \| Product Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	60.00%	58.00%	61.00%	61.00%
Point-to-Point
Segment Reporting Information [Line Items]
Revenues	$ 17,830	$ 17,748	$ 37,464	$ 33,707
Point-to-Point \| Sales Revenue, Product Line \| Product Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	26.00%	29.00%	28.00%	28.00%
Wi-Fi
Segment Reporting Information [Line Items]
Revenues	$ 8,430	$ 6,810	$ 14,016	$ 11,167
Wi-Fi \| Sales Revenue, Product Line \| Product Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	12.00%	11.00%	10.00%	9.00%
Other
Segment Reporting Information [Line Items]
Revenues	$ 1,161	$ 1,393	$ 1,726	$ 2,290
Other \| Sales Revenue, Product Line \| Product Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	2.00%	2.00%	1.00%	2.00%

Segment Information and Revenues by Geography - Schedule of Revenue by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Revenues	$ 69,151	$ 61,019	$ 137,263	$ 119,472
Sales Revenue, Product Line \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	100.00%	100.00%	100.00%	100.00%
North America
Segment Reporting Information [Line Items]
Revenues	$ 30,056	$ 27,339	$ 64,420	$ 51,578
North America \| Sales Revenue, Product Line \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	44.00%	45.00%	47.00%	43.00%
Europe, Middle East and Africa
Segment Reporting Information [Line Items]
Revenues	$ 22,994	$ 17,275	$ 44,964	$ 36,886
Europe, Middle East and Africa \| Sales Revenue, Product Line \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	33.00%	28.00%	33.00%	31.00%
Caribbean and Latin America
Segment Reporting Information [Line Items]
Revenues	$ 8,420	$ 8,036	$ 15,519	$ 16,975
Caribbean and Latin America \| Sales Revenue, Product Line \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	12.00%	13.00%	11.00%	14.00%
Asia Pacific
Segment Reporting Information [Line Items]
Revenues	$ 7,681	$ 8,369	$ 12,360	$ 14,033
Asia Pacific \| Sales Revenue, Product Line \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage	11.00%	14.00%	9.00%	12.00%

Revenue from Contracts with Customers - Summary of Contract Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Trade accounts receivable, net of allowance for doubtful accounts	$ 62,449	$ 59,797
Deferred revenues	2,203	2,770
Deferred revenues	1,916	1,541
Refund Liability	$ 2,478	$ 1,810

Revenue from Contracts with Customers - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Deferred revenue	$ 4.1	$ 4.1	$ 4.3
Revenue remaining performance obligation	2.2	2.2	$ 2.8
Revenue recognized	$ 0.4	$ 1.7
Revenue practical expedient, incremental cost of obtaining contract [true/false]		true

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 588	$ 1,177
Short-term lease cost	31	90
Variable lease costs	98	199
Total lease expense	$ 717	$ 1,466

Leases - Supplemental Balance Sheet Information related to Leases (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Operating leases:
Operating lease assets	$ 7,326
Current lease liabilities	$ 1,863
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent
Noncurrent operating lease liabilities	$ 6,058
Weighted average remaining lease term (years):
Operating leases	4 years 5 months 4 days
Weighted average discount rate:
Operating leases	8.50%

Leases - Maturities on Lease Liabilities (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Leases [Abstract]
2019 (excludes the six months ended June 30, 2019)	$ 1,219
2020	2,499
2021	2,270
2022	1,307
2023	1,268
Thereafter	995
Total lease payments	9,558
Less: interest	1,637
Operating lease liabilities	$ 7,921

Leases - Future Payments Under Operating Lease Agreements (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Operating leases
2019	$ 2,409
2020	2,418
2021	2,203
2022	1,307
2023	1,267
Thereafter	1,072
Total	$ 10,676

Related Party Transactions - Additional Information (Details)				3 Months Ended		6 Months Ended	12 Months Ended
	Nov. 30, 2018 USD ($)	Dec. 21, 2017 USD ($)	Jul. 31, 2017 USD ($)	Jun. 30, 2019 USD ($) $ / shares	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) $ / shares	Dec. 31, 2017 USD ($)	Jun. 28, 2019 $ / shares	Dec. 31, 2018 USD ($)
Related Party Transaction [Line Items]
Debt financing cost				$ 2,309,000		$ 2,309,000			$ 2,443,000
IPO
Related Party Transaction [Line Items]
Shares sold, price per share \| $ / shares				$ 12.00		$ 12.00		$ 12.00
Term Loan Facility Tranche B
Related Party Transaction [Line Items]
Loan from sponsor and capital contribution	$ 22,700,000
Maximum guarantee payment amount	$ 25,000,000
Maximum guarantee payment amount equal to debt	1.10
VCH, L.P.
Related Party Transaction [Line Items]
Loan from sponsor and capital contribution				$ 62,500,000		$ 62,500,000
Contributed capital				$ 2,000,000		$ 2,000,000
Cash return of contributed capital		$ 65,700,000
Shares sold, price per share \| $ / shares								12.00
VCH, L.P. \| IPO
Related Party Transaction [Line Items]
Shares sold, price per share \| $ / shares				$ 12.00		$ 12.00		$ 12
VCH, L.P. \| Convertible Preferred Equity Certificates
Related Party Transaction [Line Items]
Non-cash capital contributions			$ 88,400,000
Principal from related party			62,500,000
Accrued interest			$ 25,900,000
Vector Capital IV L.P. \| Term Loan Facility Tranche B
Related Party Transaction [Line Items]
Maximum guarantee payment amount				$ 25,000,000		$ 25,000,000
Maximum guarantee payment amount equal to debt						1.10
Vector Capital Management L.P.
Related Party Transaction [Line Items]
Management and oversight fees				100,000	$ 100,000
Management fees							$ 2,000,000
Debt financing cost							$ 90,000,000
Due to related parties				$ 5,800,000		$ 5,800,000			$ 5,600,000

Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands	Jul. 03, 2019	Jul. 01, 2019	Jun. 30, 2019	Dec. 31, 2018
Term Loan Facility
Subsequent Event [Line Items]
Debt outstanding			$ 90,700	$ 95,500
Revolving Credit Facility
Subsequent Event [Line Items]
Debt outstanding			$ 10,000	$ 10,000
Subsequent Event \| Vector Capital Management L.P.
Subsequent Event [Line Items]
Payment to related party	$ 5,600
Subsequent Event \| Silicon Valley Bank
Subsequent Event [Line Items]
Repayment of debt		$ 30,700
Subsequent Event \| Silicon Valley Bank \| Term Loan Facility
Subsequent Event [Line Items]
Repayment of debt		20,700
Debt outstanding		70,000
Subsequent Event \| Silicon Valley Bank \| Revolving Credit Facility
Subsequent Event [Line Items]
Repayment of debt		10,000
Available revolving commitment		$ 10,000

Consolidated Statements of Shareholders' (Deficit) Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Statement Of Stockholders Equity [Abstract]
Share issuance costs	$ 7,866	$ 7,866

Commitments and Contingencies - Additional Information (Details)	6 Months Ended
	Jun. 30, 2019
Loss Contingencies [Line Items]
Standard product warranty period	1 year
Maximum
Loss Contingencies [Line Items]
Extended standard product warranty additional years	4 years
Limited lifetime hardware product warranty, extended warranty coverage, years	7 years

Revenue from Contracts with Customers - Additional Information (Details 1)	Jun. 30, 2019	Dec. 31, 2018
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-07-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Share-based compensation included in costs and expenses	$ 16,078	$ 16,078
Cost of Revenues
Share-based compensation included in costs and expenses	182	182
Research and Development
Share-based compensation included in costs and expenses	4,863	4,863
Sales and Marketing
Share-based compensation included in costs and expenses	3,607	3,607
General and Administrative
Share-based compensation included in costs and expenses	$ 7,426	$ 7,426

Goodwill and Intangible Assets - Schedule of Change in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance	$ 8,060	$ 8,060
Ending balance	$ 8,060	$ 8,060

Leases - Supplemental Cash Flow Information related to Leases (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($)
Supplemental cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$ 1,189

Leases - Additional Information (Details)	6 Months Ended
Leases - Additional Information (Details)	Jun. 30, 2019
Lessee operating lease option to extend	true
Minimum
Lessee operating lease term of contract	1 year
Lessee operating lease option to extend period	1 year
Maximum
Lessee operating lease term of contract	7 years
Lessee operating lease option to extend period	4 years