0001564590-21-009841 | 10-K | XBRL Viewer

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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2020	Feb. 24, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Trading Symbol	CMBM
Entity Registrant Name	CAMBIUM NETWORKS CORPORATION
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 Interactive Data Current	Yes
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Shell Company	false
Entity Public Float			$ 43,104,377
Entity Common Stock, Shares Outstanding		26,101,023
Entity Current Reporting Status	Yes
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	IL
Entity Address, Postal Zip Code	60008
City Area Code	345
Local Phone Number	943-3100
Entity Incorporation State Country Code	E9
Document Annual Report	true
Document Transition Report	false
Title of 12(b) Security	Ordinary shares, $0.0001 par value
Security Exchange Name	NASDAQ
ICFR Auditor Attestation Flag	false
Documents Incorporated by Reference	Portions of the registrant’s Proxy Statement for the 2021 Annual Meeting of Shareholders are incorporated herein by reference in Part III of this Annual Report on Form 10-K to the extent stated herein. Such proxy statement will be filed with the Securities and Exchange Commission within 120 days of the registrant’s fiscal year ended December 31, 2020.

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets
Cash	$ 62,472	$ 19,346
Receivables, net of allowances	58,114	58,628
Inventories, net	33,962	41,670
Recoverable income taxes	1,420
Prepaid expenses	4,143	5,323
Other current assets	5,024	4,350
Total current assets	165,135	129,317
Noncurrent assets
Property and equipment, net	7,535	8,314
Software, net	3,438	3,395
Operating lease assets	5,083	6,872
Intangible assets, net	12,895	15,100
Goodwill	9,842	8,552
Deferred tax assets, net	1,537	929
Other noncurrent assets	288
TOTAL ASSETS	205,753	172,479
Current liabilities
Accounts payable	30,859	25,214
Accrued liabilities	20,160	15,034
Employee compensation	14,911	4,652
Current portion of long-term external debt, net	29,201	9,454
Deferred revenues	6,471	7,430
Other current liabilities	6,009	6,084
Total current liabilities	107,611	67,868
Noncurrent liabilities
Long-term external debt, net	24,957	54,158
Deferred revenues	4,448	4,852
Noncurrent operating lease liabilities	3,332	5,335
Deferred tax liabilities, net	9	337
Other noncurrent liabilities	2,009
Total liabilities	142,366	132,550
Shareholders' equity
Share capital; $0.0001 par value; 500,000,000 shares authorized at December 31, 2019 and December 31, 2020; 25,753,603 shares issued and 25,672,983 outstanding at December 31, 2019 and 26,126,775 shares issued and 26,034,526 outstanding at December 31, 2020	3	3
Additional paid in capital	109,837	104,773
Treasury shares, at cost, 80,620 shares at December 31, 2019 and 92,146 shares at December 31, 2020	(1,090)	(1,094)
Accumulated deficit	(44,799)	(63,374)
Accumulated other comprehensive loss	(564)	(379)
Total shareholders’ equity	63,387	39,929
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 205,753	$ 172,479

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019	Jun. 06, 2019	Apr. 23, 2019	Oct. 28, 2011
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001	$ 0.0001	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000	500,000,000	5,000,000
Common stock, shares issued	26,126,775	25,753,603	77,179	771.79	771.79
Common stock, shares, outstanding	26,034,526	25,672,983	77,179	771.79
Treasury stock, shares	92,146	80,620

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenues	$ 82,805	$ 72,971	$ 62,254	$ 60,429	$ 64,062	$ 65,703	$ 69,151	$ 68,112	$ 278,459	$ 267,028	$ 241,762
Cost of revenues	40,568	36,902	31,782	29,797	30,767	33,871	34,839	36,322	139,049	135,799	126,267
Gross profit	42,237	36,069	30,472	30,632	33,295	31,832	34,312	31,790	139,410	131,229	115,495
Operating expenses
Research and development	11,862	10,213	9,299	11,814	12,126	9,895	15,189	10,482	43,188	47,692	38,917
Sales and marketing	10,152	8,293	8,035	10,304	11,445	10,363	14,227	10,218	36,784	46,253	42,658
General and administrative	7,176	8,604	6,625	6,446	5,936	5,996	13,063	5,130	28,851	30,125	18,804
Depreciation and amortization	1,601	1,643	1,700	1,695	1,901	1,449	1,227	1,281	6,639	5,858	8,765
Total operating expenses	30,791	28,753	25,659	30,259	31,408	27,703	43,706	27,111	115,462	129,928	109,144
Operating income (loss)	11,446	7,316	4,813	373	1,887	4,129	(9,394)	4,679	23,948	1,301	6,351
Interest expense, net	1,197	1,259	1,525	1,345	1,402	2,105	2,301	2,268	5,326	8,076	8,113
Other expense, net	411	318	(22)	(216)	295	61	56	134	491	546	550
(Loss) income before income taxes	9,838	5,739	3,310	(756)	190	1,963	(11,751)	2,277	18,131	(7,321)	(2,312)
(Benefit) provision for income taxes	(668)	144	(2)	82	1,239	3	8,623	415	(444)	10,280	(799)
Net (loss) income	$ 10,506	$ 5,595	$ 3,312	$ (838)	$ (1,049)	$ 1,960	$ (20,374)	$ 1,862	$ 18,575	$ (17,601)	$ (1,513)
(Loss) earnings per share
Basic									$ 0.72	$ (0.89)	$ (0.11)
Diluted									$ 0.70	$ (0.89)	$ (0.11)
Weighted-average number of shares outstanding to compute net (loss) earnings per share
Basic									25,707,092	19,741,764	13,600,411
Diluted									26,403,112	19,741,764	13,600,411

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based compensation included in costs and expenses	$ 3,436	$ 17,696
Cost of Revenues
Share-based compensation included in costs and expenses	67	211
Research and Development
Share-based compensation included in costs and expenses	1,599	5,363
Sales and Marketing
Share-based compensation included in costs and expenses	980	4,185
General and Administrative
Share-based compensation included in costs and expenses	$ 790	$ 7,937

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net (loss) income	$ 18,575	$ (17,601)	$ (1,513)
Other comprehensive (loss) income
Foreign currency translation adjustment	(185)	(158)	(372)
Comprehensive (loss) income	$ 18,390	$ (17,759)	$ (1,885)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Consolidated Statements of Shareholders' (Deficit) Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Share Capital	Additional Paid in Capital	Capital Contribution	Treasury Shares	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2017	$ (17,826)	$ (860)		$ 772	$ 24,651		$ (43,400)	$ (860)	$ 151
Beginning balance, shares at Dec. 31, 2017			77,000
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201409Member
Net (loss) income	$ (1,513)						(1,513)
Proceeds from exercise of share options, shares	0
Foreign currency translation adjustment	$ (372)								(372)
Ending balance at Dec. 31, 2018	$ (20,571)			772	24,651		(45,773)		(221)
Ending balance, shares at Dec. 31, 2018	77,179		77,000
Net (loss) income	$ (17,601)						(17,601)
Share-based compensation	17,696			17,696
Issuance of shares upon vesting of restricted share units, shares			29,000
Issuance of shares in Recapitalization and related reclassification	2		$ 2	24,651	$ (24,651)
Issuance of shares in Recapitalization and related reclassification, shares			19,848,000
Issuance of shares in initial public offering, net of issuance costs	$ 61,373		$ 1	61,372
Issuance of shares in initial public offering, net of issuance costs, shares			5,800,000
Proceeds from exercise of share options, shares	0
Treasury shares withheld for net settlement in Recapitalization	$ (812)			282		$ (1,094)
Treasury shares withheld for net settlement in Recapitalization, shares			(81,000)
Foreign currency translation adjustment	(158)								(158)
Ending balance at Dec. 31, 2019	$ 39,929		$ 3	104,773		(1,094)	(63,374)		(379)
Ending balance, shares at Dec. 31, 2019	25,672,983		25,673,000
Net (loss) income	$ 18,575						18,575
Share-based compensation	3,436			3,436
Issuance of shares upon vesting of restricted share units, shares			234,000
Proceeds from exercise of share options	$ 1,628			1,628
Proceeds from exercise of share options, shares	138,878		139,000
Treasury shares withheld for net settlement in Recapitalization	$ 4					4
Treasury shares withheld for net settlement in Recapitalization, shares			(11,000)
Foreign currency translation adjustment	(185)								(185)
Ending balance at Dec. 31, 2020	$ 63,387		$ 3	$ 109,837		$ (1,090)	$ (44,799)		$ (564)
Ending balance, shares at Dec. 31, 2020	26,034,526		26,035,000

Consolidated Statements of Shareholders' (Deficit) Equity (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Statement Of Stockholders Equity [Abstract]
Share issuance costs	$ 8,228

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net (loss) income	$ 18,575	$ (17,601)	$ (1,513)
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation	3,685	3,583	2,836
Amortization of software and intangible assets	3,583	2,784	6,182
Amortization of debt issuance costs	546	1,141	576
Share-based compensation	3,436	17,696
Deferred income taxes	(1,072)	7,402	(1,863)
Provision for inventory excess and obsolescence	1,896	196	1,184
Other	540	115	(232)
Change in assets and liabilities:
Receivables	3,165	622	(7,395)
Inventories	5,696	(7,634)	(10,009)
Accounts payable	6,097	2,096	4,261
Accrued employee compensation	11,116	14	(4,081)
Accrued liabilities	1,495	(1,296)	1,539
Accrued Sponsor interest and payables		(5,457)	564
Other assets and liabilities	(1,857)	(108)	(2,444)
Net cash (used in) provided by operating activities	56,901	3,553	(10,395)
Cash flows from investing activities:
Purchase of property and equipment	(3,407)	(3,002)	(5,588)
Purchase of software	(1,659)	(944)	(1,912)
Cash paid for acquisitions	(334)	(4,666)
Net cash used in investing activities	(5,400)	(8,612)	(7,500)
Cash flows from financing activities:
Proceeds from issuance of term loan			9,962
Proceeds from issuance of revolver debt	10,000		10,000
Repayment of term loan	(10,000)	(30,212)	(4,500)
Repayment of revolver debt	(10,000)	(10,000)
Payment of debt issuance costs		(336)	(396)
Proceeds from initial public offering, net of underwriters commission and fees		65,988
Payment of deferred offering costs		(4,616)
Proceeds received from share option exercises	1,628
Taxes paid related to net share settlement of equity awards	4	(802)
Net cash provided by (used in) financing activities	(8,368)	20,022	15,066
Effect of exchange rate on cash	(7)	(58)	(107)
Net (decrease) increase in cash	43,126	14,905	(2,936)
Cash, beginning of period	19,346	4,441	7,377
Cash, end of period	62,472	19,346	4,441
Supplemental disclosure of cash flow information:
Income taxes paid	2,232	1,702	1,074
Interest paid	$ 3,998	6,455	$ 7,614
Significant non-cash activities:
Issuance of shares for unreturned capital and accumulated yield		$ 49,252

Description of Business and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Description of Business and Summary of Significant Accounting Policies

Note 1. Description of Business and Summary of 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 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. in an acquisition funded by investment funds affiliated with Vector Capital (“Sponsor”) and Cambium Networks became the renamed entity subsequent to the acquisition.

Cambium Networks Corporation and its wholly owned subsidiaries provide fixed wireless broadband and Wi-Fi networking infrastructure solutions. The Company’s solutions are deployed by wireless broadband internet service providers, mobile network operators, and managed service providers, as well as in private networks, enterprises, petrochemical, military, state and local government, education, hospitality, rail, utility, industrial and other network operators that use its technology to connect a wide range of network assets, from offices, service organization (schools, hospitality, healthcare) and industrial processes, to guest and public access via Wi-Fi to complex sensor networks.

The Company operates on a calendar year ending December 31. As such, all references to 2018, 2019 and 2020 contained within these notes relate to the calendar year, unless otherwise indicated.

Basis of Presentation

The Company’s consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Cambium Networks Corporation and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated. The consolidated financial statements have been prepared on the same basis other than the adoption with effect from January 1, 2019 of 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 December 31, 2019 and 2020.

The Company has reclassified certain prior period amounts in the consolidated statements of cash flows to conform to the current period’s presentation. Specifically, within the consolidated statements of cash flows, the provision for inventory excess and obsolescence has been reclassified from “Other” to “Provision for inventory excess and obsolescence”. This change in classification does not affect previously reported cash flows from operating activities in the consolidated statements of cash flows.

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.

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 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. As of December 31, 2019, the Company used the proceeds from its IPO to pay offering costs of $4.6 million, paydown debt of $30.7 million, pay management fees owed to Vector Capital of $5.6 million, and pay $4.7 million to acquire select assets and assume select liabilities of the Xirrus Wi-Fi business from Riverbed Technology, Inc.

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 as part of the Recapitalization described above, the Company (i) issued additional shares to VCH, L.P., such that its aggregate shareholding in it became 17,704,754 shares, (ii) issued 2,140,168 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.

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 provision for excess and obsolete inventory, the carrying amount of estimated inventory returns, the estimated amount expected to be refunded to customers in respect of inventory returns, fair value of equity awards granted to employees and the associated forfeiture rates, fair value of assets acquired, liabilities assumed, goodwill and identifiable intangible assets in business combinations, leases, provision for income taxes, recoverability of deferred tax assets. 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 reporting unit. See Note 16 – Segment information and revenues by geography for additional information.

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, extended warranty on hardware products and software subscription services. Substantially all products are sold through distributors and other channel partners, such as resellers and systems integrators.

The Company recognizes revenue to reflect the transfer of control of promised products or services to a customer in an amount that reflects the consideration to which the Company expects to be entitled in exchange for products or services.

The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable.

The Company identifies its distinct performance obligations under each contract. A performance obligation is a promise in a contract to transfer a distinct product or service to the customer. Hardware products with essential embedded software, software products, and extended warranty on hardware products have been identified as separate 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. 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 is recognized when control is transferred to the customer, which is typically 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 is available for purchase on hardware products and is a performance obligation that is satisfied over time, beginning on the effective date of the warranty term and ending on the expiration of the warranty term. The Company recognizes revenue on extended warranties on a straight-line basis over the warranty period. Revenue from subscription services is recognized ratably over the term in which the services are provided and our performance obligation is satisfied.

Multiple performance obligations

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 similar customers. If a standalone selling price is not directly observable, the Company estimates the transaction price allocated to each performance obligation using the expected costs plus a margin approach.

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 credit losses. 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 December 31, 2019 and two customers representing more than 10% of trade receivables at December 31, 2020. The Company had two customers representing more than 10% of revenues for the years ended December 31, 2018, 2019 and 2020.

The Company establishes an allowance for credit losses to present the net amount of accounts receivable expected to be collected. The allowance is determined by using the loss-rate method, which requires an estimation of loss rates based on historical loss experience adjusted for factors that are relevant to determining the expected collectability of accounts receivable. Some of these factors include macroeconomic conditions that correlate with historical loss experience, delinquency trends, aging behavior of receivables, and credit and liquidity indicators for individual customers.

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.

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 lives 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 operating expense in the Consolidated Statements of Operations. For the years ended 2018, 2019 and 2020, the loss recognized was immaterial.

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, 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 using the straight-line method over its estimated useful life of three years.

Business Combinations

The Company applies the provisions of ASC 805, Business Combinations, in the accounting for its acquisitions. It requires the Company to recognize separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, its estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, it records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Consolidated Statements of Operations.

Critical accounting estimates in valuing certain intangible assets include but are not limited to future expected cash flows from customer relationships, as well as assumptions about customer attrition rate.

Other estimates associated with the accounting for acquisitions may change as additional information becomes available regarding the assets acquired and liabilities assumed.

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.

The fair value of the Company’s external debt under its Credit Agreement approximates its carrying value because the terms and conditions approximate those of current market debt available to the Company. Due to the floating interest rate the debt is classified as Level 2 of the fair value hierarchy. 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 Company’s Credit Agreement was $65.3 million and $55.3 million as of December 31, 2019 and 2020, respectively.

The fair value of cash approximates its carrying value (Level 1 of the fair value hierarchy).

The Company’s Level 3 liability for contingent consideration of $3.0 million that was added during the three-month period ended September 30, 2019 was fully paid to Riverbed Technologies, Inc. as of February 2020 in consideration for the sale to the Company of the Xirrus business. The entire $3.0 was earned as of December 31, 2019 and the Company made a payment of $2.7 million in November 2019 and paid the remaining $0.3 million in February 2020.

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 3 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 2019 and 2020, 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.

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 Company determines the fair value of the reporting unit and compares the fair value 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 material impairment losses for the years ended December 31, 2018, 2019 and 2020.

Leases

The Company has both cancelable and noncancelable operating leases for office space, vehicles, and office equipment. The Company adopted ASC 842, Leases, (“ASC 842”) 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 provides a standard warranty on its products, with the term depending on the product, and records a liability for the estimated future costs associated with potential warranty claims. 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 liability 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 December 31, 2018, 2019 and 2020, the Company had not made a provision for withholding taxes on approximately $5.4 million, $8.5 million and $13.8 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 would recognize 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 would reverse the liability and recognize an income tax benefit during the period in which new information becomes available indicating that the liability is no longer necessary. The Company would record 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 such an adjustment for the years ended December 31, 2018, 2019 or 2020.

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 Cambium Holdings (Cayman), L.P. 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 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 2019.

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 one-time share-based compensation of $15.4 million related to these awards during the year ended December 31, 2019.

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 at $12.00 per share, the Company issued an aggregate 2,172,000 share options and restricted share units to employees and directors.

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 for each operating subsidiary is the local currency of the 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 (loss) 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. Starting in 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 years ended December 31, 2018, 2019 and 2020, the Company expensed $38.9 million, $47.7 million, and $43.2 million, respectively, which included $0, $5.4 and $1.6 million of share-based compensation expense, respectively, of research and development costs.

Recently adopted accounting pronouncements

Beginning in 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, plus a number of related ASUs designed to clarify and interpret ASC 606 (collectively codified as “ASC 606”). The new standard replaced most existing revenue recognition guidance in U.S. GAAP. The core principle of the ASU requires revenue recognition based upon newly defined criteria, either at a point in time or over time, as control of good or services is transferred. The ASU requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and estimates, and changes in those estimates. The new standard became effective as of January 1, 2018 and the Company adopted ASC 606 using the modified retrospective transition method which required an adjustment to accumulated deficit for the cumulative effect of applying ASC 606 to active contracts as of the adoption date. The Company recorded an increase to accumulated deficit of $0.9 million upon adoption.

Beginning in February 2016, the FASB issued ASU 2016-02, Leases, plus a number of related ASUs, which sets out the principles for the recognition, measurement, presentation and disclosures of leases for both parties to a contract (i.e., lessees and lessors) (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.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, and subsequent amendments to the initial guidance: ASUs 2018-19, 2019-04, 2019-05, 2019-11, and 2020-02 (collectively, “Topic 326”). Topic 326 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, including trade accounts receivable, and certain off-balance sheet credit exposures. The Company adopted Topic 326 on January 1, 2020 using the modified retrospective transition method for all financial assets measured at amortized costs, which is primarily trade accounts receivable. Results for the reporting periods beginning after January 1, 2020 are presented under Topic 326 while prior period amounts continue to be reported in accordance with previously applicable U.S. GAAP. The adoption of Topic 326 did not have a material impact to the consolidated financial statements.

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 Company adopted this ASU effective January 1, 2020 applying the changes prospectively to all implementation costs incurred after this date. The adoption of ASU 2018-15 did not have a material impact on the consolidated financial statements as there were no large implementation projects in 2020.

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This update provides optional expedients and exceptions for applying generally accepted accounting principles to certain contract modification and hedging relationships that reference London Inter-bank Offered Rate (LIBOR) or another reference rate that is expected to be discontinued. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022, when the reference rate replacement activity is expected to be completed. The adoption of ASU 2020-04 will not have an impact on the consolidated financial statements until the debt agreement is modified to no longer reference LIBOR.

Recently issued accounting pronouncements not yet adopted

In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, as part of its Simplification Initiative to reduce the cost and complexity in accounting for income taxes. ASU 2019-12 removes certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. ASU 2019-12 also amends other aspects of the guidance to help simplify and promote consistent application of GAAP. The guidance is effective for interim and annual period beginning after December 15, 2020, with early adoption permitted. The Company will adopt ASU 2019-12 during the first quarter of 2021. The adoption of ASU 2019-12 will effect the classification of taxes, but is not expected to impact reported results in the consolidated financial statements.

Business Combinations

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Business Combinations

Note 2. Business Combinations

In August 2019, the Company acquired select assets and assumed select liabilities of the Xirrus Wi-Fi products and cloud services business from Riverbed Technology, Inc. Xirrus has a portfolio of high-performance enterprise Wi-Fi access points and subscription services. The Company paid $2.0 million upon closing and through February 2020, paid the entire additional $3.0 million contingent consideration that was subject to attaining certain booking targets related to sales of the Xirrus products, which targets were met by December 31, 2019. This acquisition will enhance and accelerate the Company’s existing network service application capabilities.

The Company accounts for business combinations in accordance with ASC 805, Business Combinations. The Company recorded the acquisition using the acquisition method of accounting and recognized assets and liabilities at their fair value as of the date of acquisition. The Company based the preliminary allocation of the purchase price on estimates and assumptions known at the date of acquisition that are subject to change within the purchase price allocation period, which is generally one year from the acquisition date. The Company’s review of the purchase price allocation was completed in the period ended June 30, 2020. The Company determined the estimated fair value of identifiable intangible assets acquired primarily using an income approach.

The following table summarizes the final allocation of the purchase price for Xirrus:

Goodwill	$	1,782
Customer relationships		7,670
Unpatented technology		540
Deferred revenue		(7,460	)
Other net assets acquired		2,468
Total purchase price	$	5,000

Goodwill represents the excess of the total purchase consideration over the fair value of the underlying assets acquired and liabilities assumed. The acquisition is considered to be an asset acquisition for tax purposes and goodwill recognized in the acquisition is not deductible for tax purposes.

The results from this acquisition have been included in the Company’s consolidated financial statements since the closing of the acquisition.

Balance Sheet Components

12 Months Ended

Dec. 31, 2020

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

Note 3. Balance sheet components

Receivables, net

The Company’s accounts receivable arise from sales on credit to customers. The Company establishes an allowance for credit losses to present the net amount of accounts receivable expected to be collected. With the adoption of Topic 326 on January 1, 2020, the allowance is determined by using the loss-rate method, which requires an estimation of loss rates based upon historical loss experience adjusted for factors that are relevant to determining the expected collectability of accounts receivables. Some of these factors include macroeconomic conditions that correlate with historical loss experience, delinquency trends, aging behavior of receivables and credit and liquidity indicators for individual customers. Prior to the adoption, the Company established the allowance under an incurred loss model, considering the aging of the accounts receivable, the credit worthiness of each distributor based on payment history, and general economic factors, among other factors.

The components of accounts receivable, net are as follows (in thousands):

	December 31,			December 31,
	2019			2020
Trade accounts receivable	$	58,774		$	57,657
Other receivables		434			1,376
Total receivables		59,208			59,033
Less: Allowance for doubtful accounts		(580	)		(919	)
Receivables, net	$	58,628		$	58,114

The allowance for credit losses activity was as follows (in thousands):

	Year ended December 31,			Year ended December 31,
	2019			2020
Beginning balance	$	503		$	580
Increase, charged to expense		333			316
Recoveries		(204	)		(101	)
Provision for late fee charges		—			191
Amounts written-off		(52	)		(67	)
Ending balance	$	580		$	919

Inventories, net

Inventories, net consisted of the following (in thousands):

	December 31,			December 31,
	2019			2020
Finished goods	$	42,402		$	35,241
Raw materials		4,227			4,576
Gross inventory		46,629			39,817
Less: Excess and obsolete provision		(4,959	)		(5,855	)
Inventories, net	$	41,670		$	33,962

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

	Year ended December 31,			Year ended December 31,
	2019			2020
Beginning balance	$	3,950		$	4,959
Inventory written off		(149	)		(1,577	)
Increase in excess and obsolete provision		1,158			2,473
Ending balance	$	4,959		$	5,855

Accrued liabilities

Accrued liabilities consisted of the following (in thousands):

	December 31,		December 31,
	2019		2020
Accrued goods and services	$	8,364	$	7,937
Accrued inventory purchases		3,094		4,830
Accrued customer rebates		3,569		7,380
Other		7		13
Accrued liabilities	$	15,034	$	20,160

Accrued warranty

Provision for warranty claims is primarily related to our hardware products and recorded at the time products are sold. The change to accrued warranty was as follows (in thousands):

	Year ended December 31,		Year ended December 31,
	2019		2020
Beginning balance	$	488	$	706
Warranties assumed due to acquisition		180		1,174
Fulfillment of assumed acquisition warranty		—		(482	)
Provision increase, net		38		316
Ending balance	$	706	$	1,714

At December 31, 2019, $0.7 million is included in Other current liabilities on the Company’s consolidated balance sheet. At December 31, 2020, $1.1 million is included in Other current liabilities and $0.6 million is included in Other noncurrent liabilities on the Company’s consolidated balance sheet.

Property and Equipment

12 Months Ended

Dec. 31, 2020

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,			December 31,
	Useful Life	2019			2020
Equipment and tooling	3 to 5 years	$	22,150		$	24,367
Computer equipment	3 to 5 years		2,888			3,137
Furniture and fixtures	10 years		749			745
Leasehold improvements	2 to 3 years		—			282
Total cost			25,787			28,531
Less: Accumulated depreciation			(17,473	)		(20,996	)
Property and equipment, net		$	8,314		$	7,535

Total depreciation expense was $2.8 million, $3.6 million and $3.7 million for the years ended December 31, 2018, 2019 and 2020, respectively.

Software

12 Months Ended

Dec. 31, 2020

Research And Development [Abstract]

Software

Note 5. Software

Software consisted of the following (in thousands):

		December 31, 2019							December 31, 2020
	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	$	15,870	$	(13,471	)	$	2,399	$	15,680	$	(14,214	)	$	1,466
Software marketed for external sale	3 years		1,805		(809	)		996		3,411		(1,439	)		1,972
Total		$	17,675	$	(14,280	)	$	3,395	$	19,091	$	(15,653	)	$	3,438

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 $1.7 million, $0.7 million and $0.8 million for the years ended December 31, 2018, 2019 and 2020, respectively.

Amortization expense recognized on software to be sold or marketed externally was $0.3 million, $0.5 million and $0.6 million for the years ended December 31, 2018, 2019 and 2020, respectively, and is included in cost of revenues on the consolidated statements of operations.

Based on capitalized software assets at December 31, 2020, estimated amortization expense in future fiscal years is as follows (in thousands):


Year ending December 31,	Acquired and internal use software		Software marketed for external use		Total
2021		683		760		1,443
2022		411		637		1,048
2023		162		504		666
2024		68		68		136
2025		68		3		71
Thereafter		74		—		74
Total amortization	$	1,466	$	1,972	$	3,438

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

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-multi-point 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.

See Note 2 – Business combinations for information regarding the acquisition completed during 2019 and the acquisition adjustments to goodwill made in 2020.

The change in the carrying amount of goodwill for the years ended December 31, 2019 and 2020 was as follows (in thousands):

	December 31,		December 31,
	2019		2020
Beginning balance	$	8,060	$	8,552
Additions attributable to acquisition		492		—
Acquisition adjustments		—		1,290
Ending balance	$	8,552	$	9,842

The Company tests goodwill and intangible assets for impairment annually on December 31 and more frequently if impairment indicators exist. For 2019 and 2020, the Company performed qualitative assessments of significant events and circumstances such as a reporting unit’s historical and current results, assumptions regarding future performance, strategic initiatives and overall economic factors, including the impact of the current global outbreak of COVID-19 and macro-economic developments, to determine the existence of potential indicators of impairment and assess if it is more likely than not that the fair value of the reporting unit or intangible asset is less than their carrying value. If indicators of impairment are identified, a quantitative impairment test is performed.

The qualitative assessments for 2019 and 2020 did not indicate the existence of impairment indicators. Based on the operating results of the 2019 and 2020 and other considerations, the Company believes that it is more likely than not that the enterprise value for its one reporting unit and the fair value of intangibles is still greater than their carrying values. Accordingly, there was no goodwill impairment to record for either period. In addition, there were no triggering events or changes in circumstances during 2019 and 2020 that would have required an interim impairment assessment 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, 2019							December 31, 2020
	Useful Life	Gross carrying amount		Accumulated amortization			Net balance		Gross carrying amount		Accumulated amortization			Net balance
Unpatented technology	3 - 7 years	$	14,660	$	(14,195	)	$	465	$	14,660	$	(14,375	)	$	285
Customer relationships	5 - 18 years		19,300		(5,631	)		13,669		19,300		(7,128	)		12,172
Patents	7 years		11,300		(11,300	)		—		11,300		(11,300	)		—
Trademarks	10 years		5,270		(4,304	)		966		5,270		(4,832	)		438
Total		$	50,530	$	(35,430	)	$	15,100	$	50,530	$	(37,635	)	$	12,895

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 $4.2 million, $1.6 million and $2.2 million for the years ended December 31, 2018, 2019 and 2020, respectively.

Based on capitalized intangible assets as of December 31, 2020, estimated amortization expense amounts in future fiscal years are as follows (in thousands):

Year ending December 31,	Amortization
2021		2,116
2022		1,603
2023		1,498
2024		1,498
2025		1,498
Thereafter		4,682
Total amortization	$	12,895

Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Debt

Note 7. Debt

As of December 31, 2020, the Company had $55.3 million outstanding under its current term loan facility and $0.0 million in borrowings under its revolving credit facility. The Company has available $10.0 million under its revolving credit facility.

As of December 31, 2019, the Company had $65.3 million outstanding under its current term loan facility and $0.0 million in borrowings under its revolving credit facility.

The following table reflects the current and noncurrent portions of the external debt facilities at December 31, 2019 and December 31, 2020 (in thousands):

	December 31,			December 31,
	2019			2020
Term loan facility	$	65,250		$	55,250
Less debt issuance costs		(1,638	)		(1,092	)
Total external debt, net		63,612			54,158
Less current portion of term facility		(10,000	)		(29,747	)
Current portion of debt issuance costs		546			546
Total long-term external debt, net	$	54,158		$	24,957

At December 31, 2020, the current portion of term facility includes $19.7 million related to a required repayment of principal in accordance with the excess cash flow provision of the term loan agreement based on our calculation of excess cash flow at December 31, 2020, which we expect to pay by June 3, 2021. The $19.7 million is included in Current portion of external long-term debt, net in the Company’s consolidated balance sheets.

Secured credit agreements

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 the Credit Agreement (“Amendment”). The Amendment waived certain events of default (which had occurred for the months ended May 31, 2018, July 31, 2018 and August 31, 2018, and for the quarter ended September 30, 2018), reset the debt covenants, and modified and amended certain terms of the Credit Agreement. The Company incurred a $0.25 million administration fee.

On April 26, 2019, the Company entered into a Consent, Waiver and Second Amendment to the Credit Agreement (“Second Amendment”). The Second 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 Second 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 March 31, 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 the Credit Agreement (the “Third Amendment”).

Pursuant to the Third Amendment, certain actions taken by the Company in connection with its IPO 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 termination of the guaranty granted by an affiliate of VCH, L.P.

On July 1, 2019, the Company paid $30.7 million of principal under the Credit Agreement out of the net proceeds of its IPO. Following the repayment, the total term loan commitment under the Credit Agreement was reduced to $70.0 million and all outstanding amounts under the revolving credit facility were repaid, leaving an available revolving commitment of $10.0 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.

Under the Third Amendment, the term loan is currently repayable quarterly as follows: $2.5 million is payable in each quarter, with the remaining principal due on maturity on December 21, 2022. In addition, the Third Amendment includes an annual excess cash flow provision whereby 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 as a repayment of outstanding borrowings. The calculation is based on information at December 31 of each year and due in the following year. At December 31, 2020, the excess cash flow payment required under the provision is $19.7 million and is included in Current portion of external long-term debt, net in the Company’s consolidated balance sheets.

Interest accrues on the outstanding principal amount of the term loan on a quarterly basis and is equal to the USD LIBOR rate plus a base rate of 4.75%, 4.25% or 4.00%. The base rate is affected by our financial performance as measured by the consolidated leverage ratio. At December 31, 2019, the base rate was set at 4.75%. This was reduced to 4.25% on November 13, 2020 based on improved performance as measured by the consolidated leverage ratio, and remained at 4.25% at December 31, 2020.

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.

Maturities on the long-term external debt outstanding at December 31, 2020 are as follows (in thousands):

Year ending December 31,
2021		29,747
2022		25,503
Total	$	55,250

Borrowings under the Credit 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.

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

December 31,

2020

March 31,

2021

June 30,

2021

September 30,

2021

December 31,

2021

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

1.25:1.00

Quarterly consolidated fixed charge

coverage ratio

Time period

Trailing twelve-month

Quarterly consolidated leverage ratio

Max ratio

2.50:1.00

2.25:1.00

2.00:1.00

1.75:1.00

Quarterly consolidated leverage ratio

Time period

Trailing twelve month

Based on the above 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 December 31, 2019 and 2020, the Company was in compliance with all affirmative and negative quarterly covenants as defined in the Third Amendment.

Expected discontinuation of LIBOR

In July 2017, the United Kingdom’s Financial Conduct Authority, which regulates LIBOR, announced it will no longer compel banks to submit rates for the calculation of LIBOR after 2021. The Alternative Reference Rates Committee has proposed the Secured Overnight Financing Rate (“SOFR”) as its recommended alternative to LIBOR, and the first publication of SOFR rates was released in April 2018.

The Company is evaluating the potential impact of the transition from LIBOR as an interest rate benchmark to other potential alternative reference rates, including SOFR. The Company’s Credit Agreement is currently indexed to LIBOR and the maturity date of the Credit Agreement extends beyond 2021. The Credit Agreement contemplates the discontinuation of LIBOR and provides that if LIBOR is not available, the rate shall be determined by the administrative agent by reference to other applicable rates, and additionally allows the Company to switch to an ABR loan or other options. The Company will continue to actively assess the related opportunities and risks involved in this transition.

Net Interest expense, including bank charges and amortization of debt issuance costs on the external debt, was $8.1 million, $8.1 million and $5.3 million for the years ended December 31, 2018, 2019 and 2020, respectively. Interest expense for the year ended December 31, 2019 included $0.5 million of additional amortization of deferred issuance costs for the write-down of deferred issuance costs related to the $20.7 million prepayment of the term loan.

Contributed Capital

12 Months Ended

Dec. 31, 2020

Contributed Capital [Abstract]

Contributed Capital

Note 8. Contributed capital

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

12 Months Ended

Dec. 31, 2020

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 $1.0 million, $1.1 million and $1.0 million for the years ended December 31, 2018, 2019 and 2020, respectively.

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 $0.4 million, $0.4 million and $0.4 million for the years ended December 31, 2018, 2019 and 2020, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Other Expense

12 Months Ended

Dec. 31, 2020

Other Income And Expenses [Abstract]

Other expense

Note 10. Other expense

Other expenses were $0.6 million, $0.5 million and $0.5 million for the years ended December 31, 2018, 2019 and 2020, respectively, and represents foreign exchange losses.

Share-Based Compensation

12 Months Ended

Dec. 31, 2020

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 (“MIUs”) 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 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 equity-settled and cash-settled awards and the Company recorded one time share-based compensation expense of $15.4 million related to these awards in the year ended December 31, 2019.

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 were reserved under the 2019 Plan was 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 VCH L.P. in connection with the Company’s Recapitalization and 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 will 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. On March 24, 2020, the Company registered 1,283,649 additional shares that may be issued under the 2019 Plan.

The Company’s employees, officers, directors, consultants, and advisors are eligible to receive awards under the 2019 Plan. Incentive share options, however, may only be granted to its employees. Participants in the 2019 Plan will also consist of persons to whom Recapitalization Awards were granted.

The following table summarizes changes in the number of shares available for grant under the Company’s equity incentive plans during the year ended December 31, 2020:

	Number of shares
Available for grant at December 31, 2019		426,022
Added to 2019 Share Incentive Plan		1,283,649
RSUs granted		(506,500	)
Options granted		(560,000	)
Shares withheld in settlement of taxes and/or exercise price		11,526
Forfeitures		177,437
Available for grant at December 31, 2020		832,134

Share-based compensation

The following table shows total share-based compensation expense for the years ended December 31, 2018, 2019 and 2020 (in thousands):

	Year ended December 31,
	2018		2019		2020
Cost of revenues	$	—	$	211	$	67
Research and development		—		5,363		1,599
Sales and marketing		—		4,185		980
General and administrative		—		7,937		790
Total share-based compensation expense	$	—	$	17,696	$	3,436

As of December 31, 2020, the Company estimates the pre-tax unrecognized compensation expense of $12.3 million related to all unvested share-based awards, including share options, restricted share units and restricted share awards will be recognized through the third quarter of 2024. 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 year ended December 31, 2019, the Company recognized $2.2 million in share-based compensation expense associated with the vesting of phantom unit awards upon Recapitalization.

The Company uses the Black-Scholes option pricing model to estimate the fair value of share options. The Company utilized a forfeiture rate of 5% during the year ended December 31, 2020 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 year ended December 31, 2020:

	Options			Weighted average exercise price		Weighted Average remaining contractual term (years)		Aggregate intrinsic value
Outstanding at December 31, 2019		2,920,500		$	10.00		9.6	$	1,932,000
Options granted		560,000		$	15.65		—	$	—
Options exercised		(138,878	)	$	11.72		—	$	—
Options forfeited		(177,437	)	$	10.88		—	$	—
Outstanding at December 31, 2020		3,164,185		$	11.24		8.8	$	43,793,890
Options exercisable at December 31, 2020		888,255		$	10.77		8.6	$	12,707,950
Options vested and expected to vest at December 31, 2020		3,006,834		$	11.21		8.8	$	41,699,334

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

The intrinsic value for share options outstanding and exercisable is defined as the difference between the market value of the Company’s ordinary shares as of the end of the period and the grant price. At December 31, 2018, 2019 and 2020, the aggregate intrinsic value of options exercisable under the Company’s share incentive plans was $0.0 million, $0.0 million and $12.7 million, respectively, as determined as of the date of grant. No share options were exercised prior to 2020. The Company had 138,878 options exercised during the year ended December 31, 2020. The cash received from the share options exercised in 2020 was $1.6 million.

At December 31, 2020, there was $10.3 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 over a weighted-average period of 2.9 years.

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 is estimated using the following weighted-average assumptions:

	For the years ended December 31,
	2018			2019			2020
Expected dividend yield		—			—			—
Risk-free interest rate		2.70	%		1.81	%		0.39	%
Weighted-average expected volatility		46.8	%		40.8	%		50.0	%
Expected term (in years)		6.0			6.1			6.5
Weighted average grant-date fair value per share of options granted	$	—		$	4.34		$	7.56

Restricted shares

The following is a summary of restricted shares activity for the Company’s share incentive plans for the year ended December 31, 2020:

	Units			Weighted average grant date fair value
RSU and RSA balance at December 31, 2019		257,119		$	12.00
RSUs and RSAs granted		506,500		$	4.56
RSUs and RSAs vested/exercised		(227,844	)	$	1.44
RSUs and RSAs forfeited		(16,578	)	$	7.39
RSU and RSA balance at December 31, 2020		519,197		$	4.89
RSUs and RSAs expected to vest at December 31, 2020		519,197		$	4.89

Upon completion of the Company’s Recapitalization and 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 RSAs are exercisable based upon the achievement of a market condition. During 2020, 506,500 RSUs were granted under the 2019 Plan, none of which vested in 2020. In December 2020, the market condition on the 205,926 RSAs was met and these shares vested. The Company withheld 5,074 shares to pay the employees’ portion of the minimum payroll withholding taxes on the RSUs and RSAs that vested in 2020.

At December 31, 2020, there was $2.0 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 over a weighted average period of 3 years.

Employee share purchase plan

In June 2019, the Company’s Board of Directors adopted, and its shareholders approved, the Employee Share Purchase Plan (“ESPP”). The ESPP was effective on June 25, 2019 and the offering period or purchase period under the ESPP will begin on January 1, 2021, as determined by the Company’s Board of Directors. A total of 806,730 shares will be available under the ESPP, which includes 550,000 shares originally available and 256,730 additional shares registered on March 24, 2020. The number of shares that will be available for sale under the ESPP will be increased annually on the first day of each fiscal year beginning in 2020, and will be equal to the lowest of: 275,000 shares; 1% of the outstanding shares as of the last day of the immediately preceding fiscal year, or such other amount as the administrator may determine. The purchase price of the shares will be 85% of the lower of the fair market value of our shares on the first trading day of each offering period or on the purchase date.

Share Capital - Shares

12 Months Ended

Dec. 31, 2020

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, 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		2,220,788			—
Shares withheld for net settlement of shares issued to MIU holders		(80,620	)		—
Issuance of shares in Initial Public Offering		5,800,000			1
Issuance of vested shares		28,061			—
Balance at December 31, 2019		25,672,983		$	3
Issuance of vested shares		234,191			—
Share options exercised		138,878			—
Shares withheld for net settlement of shares issued		(11,526	)		—
Balance at December 31, 2020		26,034,526		$	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 December 31, 2020, 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 2,220,788 shares to its employees and service providers, of which 80,620 shares were withheld 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

12 Months Ended

Dec. 31, 2020

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 (in thousands, except for share and per share data):

	Year ended December 31,
	2018			2019			2020
Numerator:
Net (loss) income	$	(1,513	)	$	(17,601	)	$	18,575
Denominator:
Basic weighted average shares outstanding		13,600,411			19,741,764			25,707,092
Dilutive effect of share option awards		—			—			228,388
Dilutive effect of restricted share units and restricted share awards		—			—			467,632
Diluted weighted average shares outstanding		13,600,411			19,741,764			26,403,112
Net (loss) earnings per share, basic	$	(0.11	)	$	(0.89	)	$	0.72
Net (loss) earnings per share, diluted	$	(0.11	)	$	(0.89	)	$	0.70

The following outstanding shares of ordinary share equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect:

	Year ended December 31,
	2018		2019		2020
Share options		—		2,921		2,082
Restricted shares (RSUs and RSAs)		—		257		—
Total		—		3,178		2,082

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 effected 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 $12.00. 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 and 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 2,220,788 gross 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 2,220,788 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

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income taxes

Note 14. Income taxes

For the years ended December 31, 2018, 2019 and 2020, income (loss) before income taxes includes the following components (in thousands):

	Years ended December 31,
	2018			2019			2020
United States	$	3,544		$	4,183		$	2,648
Foreign		(5,856	)		(11,504	)		15,483
Total	$	(2,312	)	$	(7,321	)	$	18,131

For the years ended December 31, 2018, 2019 and 2020, the (benefit) provision for income taxes consists of the following (in thousands):

	Years ended December 31,
	2018			2019			2020
Current:
U.S. federal	$	200		$	1,078		$	(198	)
State		129			643			(181	)
Foreign		735			1,157			1,007
Current tax provision		1,064			2,878			628
Deferred:
U.S. federal	$	107		$	380		$	(664	)
State		(14	)		(6	)		(144	)
Foreign		(1,956	)		7,028			(264	)
Deferred tax (benefit) provision		(1,863	)		7,402			(1,072	)
(Benefit) provision for income taxes	$	(799	)	$	10,280		$	(444	)

For the years ended December 31, 2018, 2019, and 2020, differences between the income tax expense computed at the statutory U.S. federal income tax rate 21% for 2018, 2019 and 2020) and the (benefit) provision for income taxes computed per the Company’s consolidated statements of operation are summarized as follows (in thousands):

	Years ended December 31,
	2018			2019			2020
Income tax expense (benefit) at federal statutory rate	$	(486	)	$	(1,537	)	$	3,808
State and local income taxes net of federal benefit		115			540			(295	)
Tax rate changes		(178	)		662			(925	)
Valuation allowance changes		(112	)		9,599			(1,226	)
Foreign rate differential		329			369			(181	)
Research and development		(488	)		(1,286	)		(1,455	)
Share-based compensation - excess tax benefit		—			2,807			(171	)
Foreign derived intangible income		(266	)		(1,166	)		(349	)
Other		287			292			350
(Benefit) provision for income taxes	$	(799	)	$	10,280		$	(444	)

Foreign rate differential represents the non-U.S. jurisdictions. The country having the greatest impact on the tax rate adjustment line shown in the above table as “foreign rate differential” for the years ended December 31, 2018, 2019 and 2020 is the UK where the statutory income tax rate was 19.0% for 2018, 2019 and 2020.

The deferred tax assets and liabilities result from differences in the timing of the recognition of certain income and expense items for tax and financial reporting purposes.

The sources of these differences for the years ended December 31, 2019 and 2020 are as follows (in thousands):

		Years ended December 31,
		2019			2020
NOL and tax credit carryforwards		$	8,466		$	6,997
Disallowed interest carryforwards			1,686			1,654
Lease liability			1,481			993
Property and equipment			146			573
Share-based compensation			488			1,163
Intangible assets			155			105
Other			73			250
Subtotal			12,495			11,735
Less: Valuation allowance			(9,599	)		(8,373	)
Net deferred tax assets			2,896			3,362
Operating lease asset			(1,312	)		(884	)
Prepaid expenses and other assets			(635	)		(278	)
Other			(357	)		(672	)
Subtotal			(2,304	)		(1,834	)
Less: Valuation allowance			—			—
Net deferred tax liabilities			(2,304	)		(1,834	)
Total deferred tax assets, net		$	592		$	1,528
Deferred tax assets/liabilities included in the balance sheet are:

	Years ended December 31,
		2019			2020
Deferred tax assets - non-current		$	929		$	1,537
Deferred tax liabilities - non-current			337			9
Total deferred tax assets, net		$	592		$	1,528

For the years ended December 31, 2019 and 2020, the following table reflects the activity in the Company’s valuation allowance on deferred tax assets (in thousands):

	Years ended December 31,
	2019		2020
Beginning balance	$	—	$	9,599
Increase (release) of valuation allowance		9,599		(1,226	)
Ending balance	$	9,599	$	8,373

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. In evaluating the recoverability of its deferred tax assets, a significant piece of negative evidence evaluated was the cumulative loss incurred over the three-year period ended December 31, 2019. Cumulative losses are objective evidence that limit 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 given to subjective evidence such as the Company’s projections for growth.

As of both December 31, 2019 and 2020, the Company’s deferred tax assets were primarily the result of UK net operating loss (“NOL”), tax credit carryforwards from the UK and U.S., and the UK corporate interest reduction.

For the year ended December 31, 2019, the Company recorded a change in its valuation allowance of $9.6 million on the basis of management’s reassessment of the amount of its deferred tax assets (NOL and research and development credits) that are more likely than not to be realized. As a result of a 3-year cumulative loss analysis, there was sufficient objective evidence that UK cumulative losses over the recent 3-year period for the years ended December 31, 2017, 2018 and 2019 were strong negative and objective evidence that sufficient future income would not be generated to utilize its deferred tax assets. Consequently, the Company established a valuation allowance against its deferred tax asset to income tax expense of $9.3 million. Additionally, during 2019, the Company identified a state research and development tax credit benefit in the state of California, which is only available to offset actual tax liabilities, that is in excess of the amount reasonably expected to be utilized over the next five years. As such, the Company established a valuation allowance against an additional $0.3 million of its deferred tax asset to income tax expense.

For the year ended December 31, 2020, the Company recorded a net decrease in its valuation allowance of $1.2 million. At year-end 2020, the Company continues to maintain a valuation allowance, on the basis of management’s reassessment of the amount of its deferred tax assets (NOL and research and development credits) that are more likely than not to be realized. As a result of a review of the 3-year cumulative loss, there was sufficient objective evidence that UK cumulative losses over the recent 3-year period for the years ended December 31, 2018, 2019 and 2020 continued to provide negative and objective evidence that sufficient future income may not be generated to utilize its deferred tax assets. Consequently, the Company continues to maintain a valuation allowance against its deferred tax assets on its foreign operations of $7.7 million. Note this is a reduction from the prior year, as certain underlying deferred tax assets on which the valuation allowance is based, were utilized to offset a portion of taxable income.

The Company reviews the likelihood that it will realize the benefit of its deferred tax assets and therefore, the need for a valuation allowance on a quarterly basis. It established a valuation allowance on all of its net deferred tax assets of its UK business in 2019. The Company has continued to carry the valuation allowance through December 31, 2020. However, it is reasonably possible that within the next twelve months, the Company may release all or a portion of its valuation allowance on the UK net deferred tax assets, if results and other subjective evidence continue to reflect pre-tax income such that the deferred tax assets become more likely than not to be realizable.

Additionally, during 2020, the Company added state research and development tax credit benefits in the state of California, which are only available to offset actual tax liabilities. The state research and development tax credits are in excess of the amount reasonably expected to be utilized over the next five years. As such, the Company established an additional $0.4 million of valuation allowance, for a total of $0.7 million valuation allowance on the related deferred tax asset.

The Company has gross income tax NOL carryforwards related to its international operations. For the year ended December 31, 2019, the NOL carryforward was approximately $38.3 million, of which $38.0 million has an indefinite life. For the year ended December 31, 2020, the NOL carryforward was approximately $28.1 million, all of which has an indefinite life. The Company has recorded a deferred tax asset of $6.7 million related to NOL as of December 31, 2019. The Company has recorded a deferred tax asset of $5.3 million related to NOL as of December 31, 2020. The Company’s gross NOL carryforwards expire as follows:

	Years ended December 31,
	2019	2020
Unlimited carryforward	$38.0 million	$28.1 million
10+ year carryforward	$0.3 million		—

The Company has tax credit carryforwards related to research and development. For the year ended December 31, 2019, the carryforward was approximately $1.7 million, all of which has an indefinite life. For the year ended December 31, 2020, the carryforward was approximately $1.5 million, all of which has an indefinite life. The Company’s research and development tax credit carryforwards and their expiration are as follows:

	Years ended December 31,
	2019		2020
Unlimited carryforward	$1.7 million		$1.5 million
10+ year carryforward		—		—

The Company has gross corporate interest restriction (“CIR”) disallowance carryforwards related to its UK operations. For the year ended December 31, 2019, the CIR carryforward was approximately $9.9 million, which has an indefinite life. For the year ended December 31, 2020, the CIR carryforward was approximately $8.7 million, all of which has an indefinite life. The Company has recorded a reduction to the deferred tax asset of $1.2 million related to utilization of a portion of the CIR as of December 31, 2020. The Company’s gross carryforwards expire as follows:

	Years ended December 31,
	2019	2020
Unlimited carryforward	$9.9 million	$8.7 million

The Company files income tax returns in the U.S. federal jurisdiction, various state and local jurisdictions and many foreign jurisdictions. The U.S., UK, and India are the main taxing jurisdictions in which the Company operates. Open tax years subject to audit vary depending on the tax jurisdiction. In the U.S., the Company is no longer subject to U.S. federal income tax examinations by tax authorities for years before 2017. In the UK, the tax returns that are open are for the tax years 2017, 2018, and 2019. In India, the tax returns that are open are for India assessment years 2014 through 2020.

The Company believes its tax positions comply with applicable tax law and intends to vigorously defend its position. However, differing positions on certain issues could be upheld by tax authorities, which could adversely affect the Company’s financial condition and results of operations. The Company does not have any unrecognized tax positions as of December 31, 2019 and 2020.

In 2019, the Company recorded compensation expense related to is management incentive compensation plan upon the completion of its IPO, which was considered a triggering event for such recognition. The Company has reviewed the tax treatment in the various jurisdictions in which it operates and has reflected the associated impacts to taxable income and income tax expense. The expenses and deductions had a significant impact on the Company’s determination to record a valuation allowance in the same period as the triggering event during 2019.

The Company recorded income tax benefit of $(0.8) million, income tax expense of $10.3 million and an income tax benefit of $(0.4) million for the years ended December 31, 2018, 2019 and 2020, with an effective tax rate of 34.6%, (140.4) % and (2.4) %, respectively. The Company’s effective tax rate for the year ended December 31, 2018 differed from the U.S. statutory rate primarily due to a benefit on research and development credit. The Company’s effective tax rate for the year ended December 31, 2019 differed from the U.S. statutory rate primarily due to the recognition of a valuation allowance against its UK deferred tax assets, taxation of pre-IPO management incentive unit equity awards, tax benefits on research and development, and tax benefits on foreign derived intangible income. The Company’s effective tax rate for the year ended December 31, 2020 differed from the U.S. Statutory rate primarily due to a benefit on research and development credit, a benefit on the partial release of a valuation allowance, and a tax benefit due to the increase of the tax rate applied to UK deferred tax assets.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

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 its exposure. The Company believes the fair value of these indemnification agreements is minimal.

Warranties

The Company offers a standard warranty on its products, with the term depending on the product, and records a liability for the estimated future costs associated with potential warranty claims. The Company’s responsibility under its standard warranty is the repair or replacement of in-warranty defective product, or to credit the purchase price of the defective product, at its discretion, without charge to the customer. The Company’s estimate of future warranty costs is largely based on historical experience factors including product failure rates, material usage, and service delivery cost incurred in correcting product failures. The standard warranty is included in either Other current liabilities or Other noncurrent liabilities on the Company’s consolidated balance sheets, depending on the time period covered by the warranty. The Company also offers an extended warranty for purchase that represents a future performance obligation for the Company. The extended warranty is included in deferred revenues (both current and noncurrent) on the consolidated balance sheets and recognized on a straight-line basis over the term of the extended warranty. The warranty costs are reflected in the Company’s consolidated statements of operations within cost of revenues.

Legal proceedings

Third parties may from time to time assert legal claims against the Company. The Company records accruals for loss contingencies to the extent that it concludes it is probable that a liability has been incurred and the amount of the related loss can be reasonably estimated. The Company evaluates, on a regular basis, developments in legal proceedings and other matters that could cause a change in amounts recorded. Due to the inherent uncertainty involving legal matters, the ultimate resolution could differ from amounts recorded. There is no pending or threatened legal proceedings to which the Company is a party 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 in the United States District Court, Northern District of Illinois, against the Company, two of its employees, one of its distributors and one of its end users. The complaint alleged that the Company’s development of and sales and promotion of its Elevate software as downloaded on a Ubiquiti device violated the Computer Fraud and Abuse Act and Illinois Computer Crimes Prevention Law, the Digital Millennium Copyright Act and the Copyright Act and constituted 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 misappropriation. On December 1, 2020, the Company reached a settlement agreement with Ubiquiti, settling all claims made in the Ubiquiti Litigation. The Court dismissed the Ubiquiti Litigation, with prejudice, on January 5, 2021.

Segment Information and Revenues by Geography

12 Months Ended

Dec. 31, 2020

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 (in thousands, except percentages):

	Years ended December 31,
	2018				2019				2020
Point-to-Multi-Point	$	146,621	61	%	$	156,157	59	%	$	172,601	62	%
Point-to-Point		71,678	30	%		71,618	27	%		60,435	22	%
Wi-Fi		19,571	8	%		35,678	13	%		39,990	14	%
Other		3,892	1	%		3,575	1	%		5,433	2	%
Total Revenues	$	241,762	100	%	$	267,028	100	%	$	278,459	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 (in thousands, except percentages):

	Years Ended December 31,
	2018				2019				2020
North America	$	108,884	45	%	$	122,565	46	%	$	147,328	53	%
Europe, Middle East and Africa		75,503	31	%		85,930	32	%		80,927	29	%
Caribbean and Latin America		29,833	12	%		31,767	12	%		29,418	11	%
Asia Pacific		27,542	12	%		26,766	10	%		20,786	7	%
Total Revenues	$	241,762	100	%	$	267,028	100	%	$	278,459	100	%

The following countries had revenues greater than 10% of total revenues:

•

United States - $101.5 million for 2018, $121.3 million for 2019 and $140.7 million for 2020

•

Italy - $36.8 million for 2018, $38.4 million for 2019 and $31.6 million for 2020

Customers with an accounts receivable balance of 10% or greater of total accounts receivable and customers with net revenues of 10% or greater of total revenues are presented below for the periods indicated:

	Percentage of Revenues									Percentage of Accounts Receivable
	Years Ended December 31,									As of December 31,
	2018			2019			2020			2019			2020
Customer A		16	%		16	%		19	%		20	%		31	%
Customer B		12	%		11	%	*			*			*
Customer C	*			*				14	%	*			*
Customer D	*			*			*			*				10	%

* denotes percentage is less than 10%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Revenue from contracts with customers

12 Months Ended

Dec. 31, 2020

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 category and geographic location.

Contract Balances

The following table summarizes contract balances as of December 31, 2019 and December 31, 2020:

	December 31, 2019		December 31, 2020
Trade accounts receivable, net of allowance for doubtful accounts/estimate of credit losses	$	58,254	$	56,798
Deferred revenue - current		7,430		6,471
Deferred revenue - noncurrent		4,852		4,448
Refund liability	$	2,223	$	2,416

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 credit losses.

Deferred revenue consists of amounts due or received from customers in advance of the Company satisfying performance obligations under contractual arrangements. Deferred revenue is classified as current or noncurrent based on the timing of when revenue will be recognized. The changes in deferred revenue were due to normal timing differences between the Company’s performance and the customers’ payment.

The refund liability is the estimated amount expected to be refunded to customers in relation to product exchanges made as part of the Company’s stock rotation program and returns that have been authorized, but not yet received by the Company. It is included within other current liabilities in the 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, 2019 and 2020, deferred revenue (both current and noncurrent) of $12.3 million and $10.9 million, respectively, represents the Company’s remaining performance obligations, of which $7.4 million and $6.5 million, respectively, is expected to be recognized within one year, with the remainder to be recognized thereafter.

Revenue recognized during the year ended December 31, 2020 which was previously included in deferred revenues as of December 31, 2019 was $7.3 million. Revenue recognized during the year ended December 31, 2019 which was previously included in deferred revenues as of December 31, 2018 was $2.8 million. The increase in 2020 is driven by the addition of deferred revenue related to the acquisition of the Xirrus business (See Note 2 – Business combinations). Revenue recognized during the year ended December 31, 2018 which was previously included in deferred revenues as of December 31, 2017 was $2.9 million.

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.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Leases

12 Months Ended

Dec. 31, 2020

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.

Right-of-use (“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 options to renew or extend the leases, however, the Company does not consider renewal periods where it is not reasonably certain the Company will extend the lease pursuant to such option. 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):

	Year Ended December 31, 2019		Year Ended December 31, 2020
Operating lease cost	$	2,410	$	2,586
Short-term lease cost		183		341
Variable lease costs		406		375
Total lease expense	$	2,999	$	3,302

Rent expense totaled $2.3 million in 2018.

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

	Balance Sheet Caption	December 31, 2019			December 31, 2020
Operating leases:
Operating lease assets	Operating lease assets	$	6,872		$	5,083
Current lease liabilities	Other current liabilities	$	2,125		$	2,167
Noncurrent lease liabilities	Noncurrent operating lease liabilities	$	5,335		$	3,332
Weighted average remaining lease term (years):
Operating leases			3.98			3.35
Weighted average discount rate:
Operating leases			8.50	%		8.36	%

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


	2019		2020
Supplemental cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	2,461	$	2,701

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

Remaining maturities on lease liabilities at December 31, 2020 is as follows (in thousands):

	Operating leases
2021	$	2,544
2022		1,421
2023		1,323
2024		565
2025		316
Thereafter		174
Total lease payments		6,343
Less: interest		844
Present value of lease liabilities	$	5,499

As of December 31, 2020, the Company has two leases, an office facility lease and a vehicle lease, with the present value of the lease liabilities of $0.1 million, that have not yet commenced.

Related Party Transactions

12 Months Ended

Dec. 31, 2020

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.

In connection with the Company’s execution of the Waiver and First Amendment to Amended and Restated Credit Agreement dated November 21, 2018, Vector Capital IV, L.P., an affiliate of the Company’s largest shareholder, executed a Limited Guaranty agreement whereby it had 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, Vector Capital IV, L.P. was relieved of its Limited Guaranty. (Refer to Note 7 – Debt)

For the years ended December 31, 2018, 2019 and 2020, Vector Capital Management, LP, an entity related to VCH, L.P., charged $0.5 million, $0.3 million and $0.0 million, respectively, for management and oversight fees. The Company did not have any amounts due to Vector Capital Management, LP at December 31, 2019 and 2020. On July 3, 2019, the Company paid $5.6 million to Vector Capital Management from the net proceeds from the Company’s IPO. In connection with the IPO and the payment of these fees, the Vector Capital Management Agreement was terminated.

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.

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (unaudited)

Note 20. Quarterly financial data (unaudited)

The following table presents the Company’s unaudited consolidated statements of operations data for each of the eight quarters during the years ended December 31, 2019 and 2020. This information has been presented on the same basis as the audited consolidated financial statements included in this report, and all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts below to state fairly the unaudited quarterly results when read in conjunction with the audited consolidated financial statements and related notes.

		Three months ended										Year ended
		March 31,		June 30,			September 30,		December 31,			December 31,
		2019		2019			2019		2019			2019
	(unaudited)
Revenues		$	68,112	$	69,151		$	65,703	$	64,062		$	267,028
Cost of revenues			36,322		34,839			33,871		30,767			135,799
Gross profit			31,790		34,312			31,832		33,295			131,229
Operating expenses
Research and development			10,482		15,189			9,895		12,126			47,692
Sales and marketing			10,218		14,227			10,363		11,445			46,253
General and administrative			5,130		13,063			5,996		5,936			30,125
Depreciation and amortization			1,281		1,227			1,449		1,901			5,858
Total operating expenses			27,111		43,706			27,703		31,408			129,928
Operating income (loss)			4,679		(9,394	)		4,129		1,887			1,301
Interest expense, net			2,268		2,301			2,105		1,402			8,076
Other expense, net			134		56			61		295			546
Income (loss) before income taxes			2,277		(11,751	)		1,963		190			(7,321	)
Provision for income taxes			415		8,623			3		1,239			10,280
Net income (loss)		$	1,862	$	(20,374	)	$	1,960	$	(1,049	)	$	(17,601	)

		Three months ended											Year ended
		March 31,			June 30,			September 30,		December 31,			December 31,
		2020			2020			2020		2020			2020
	(unaudited)
Revenues		$	60,429		$	62,254		$	72,971	$	82,805		$	278,459
Cost of revenues			29,797			31,782			36,902		40,568			139,049
Gross profit			30,632			30,472			36,069		42,237			139,410
Operating expenses
Research and development			11,814			9,299			10,213		11,862			43,188
Sales and marketing			10,304			8,035			8,293		10,152			36,784
General and administrative			6,446			6,625			8,604		7,176			28,851
Depreciation and amortization			1,695			1,700			1,643		1,601			6,639
Total operating expenses			30,259			25,659			28,753		30,791			115,462
Operating income			373			4,813			7,316		11,446			23,948
Interest expense, net			1,345			1,525			1,259		1,197			5,326
Other (income) expense, net			(216	)		(22	)		318		411			491
(Loss) income before income taxes			(756	)		3,310			5,739		9,838			18,131
Provision (benefit) for income taxes			82			(2	)		144		(668	)		(444	)
Net (loss) income		$	(838	)	$	3,312		$	5,595	$	10,506		$	18,575

Description of Business and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The Company’s consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of Cambium Networks Corporation and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated. The consolidated financial statements have been prepared on the same basis other than the adoption with effect from January 1, 2019 of 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 December 31, 2019 and 2020. The Company has reclassified certain prior period amounts in the consolidated statements of cash flows to conform to the current period’s presentation. Specifically, within the consolidated statements of cash flows, the provision for inventory excess and obsolescence has been reclassified from “Other” to “Provision for inventory excess and obsolescence”. This change in classification does not affect previously reported cash flows from operating activities in the consolidated statements of cash flows. 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.
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 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. As of December 31, 2019, the Company used the proceeds from its IPO to pay offering costs of $4.6 million, paydown debt of $30.7 million, pay management fees owed to Vector Capital of $5.6 million, and pay $4.7 million to acquire select assets and assume select liabilities of the Xirrus Wi-Fi business from Riverbed Technology, Inc. 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 as part of the Recapitalization described above, the Company (i) issued additional shares to VCH, L.P., such that its aggregate shareholding in it became 17,704,754 shares, (ii) issued 2,140,168 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.
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 provision for excess and obsolete inventory, the carrying amount of estimated inventory returns, the estimated amount expected to be refunded to customers in respect of inventory returns, fair value of equity awards granted to employees and the associated forfeiture rates, fair value of assets acquired, liabilities assumed, goodwill and identifiable intangible assets in business combinations, leases, provision for income taxes, recoverability of deferred tax assets. 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 reporting unit. See Note 16 – Segment information and revenues by geography for additional information.
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, extended warranty on hardware products and software subscription services. Substantially all products are sold through distributors and other channel partners, such as resellers and systems integrators. The Company recognizes revenue to reflect the transfer of control of promised products or services to a customer in an amount that reflects the consideration to which the Company expects to be entitled in exchange for products or services. The Company accounts for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. The Company identifies its distinct performance obligations under each contract. A performance obligation is a promise in a contract to transfer a distinct product or service to the customer. Hardware products with essential embedded software, software products, and extended warranty on hardware products have been identified as separate 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. 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 is recognized when control is transferred to the customer, which is typically 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 is available for purchase on hardware products and is a performance obligation that is satisfied over time, beginning on the effective date of the warranty term and ending on the expiration of the warranty term. The Company recognizes revenue on extended warranties on a straight-line basis over the warranty period. Revenue from subscription services is recognized ratably over the term in which the services are provided and our performance obligation is satisfied. Multiple performance obligations 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 similar customers. If a standalone selling price is not directly observable, the Company estimates the transaction price allocated to each performance obligation using the expected costs plus a margin approach.
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 credit losses. 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 December 31, 2019 and two customers representing more than 10% of trade receivables at December 31, 2020. The Company had two customers representing more than 10% of revenues for the years ended December 31, 2018, 2019 and 2020. The Company establishes an allowance for credit losses to present the net amount of accounts receivable expected to be collected. The allowance is determined by using the loss-rate method, which requires an estimation of loss rates based on historical loss experience adjusted for factors that are relevant to determining the expected collectability of accounts receivable. Some of these factors include macroeconomic conditions that correlate with historical loss experience, delinquency trends, aging behavior of receivables, and credit and liquidity indicators for individual customers.
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.
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 lives 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 operating expense in the Consolidated Statements of Operations. For the years ended 2018, 2019 and 2020, the loss recognized was immaterial.
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, 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 using the straight-line method over its estimated useful life of three years.
Business Combinations	Business Combinations The Company applies the provisions of ASC 805, Business Combinations, in the accounting for its acquisitions. It requires the Company to recognize separately from goodwill the assets acquired and the liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred and the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions to accurately value assets acquired and liabilities assumed at the acquisition date, its estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, it records adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Consolidated Statements of Operations. Critical accounting estimates in valuing certain intangible assets include but are not limited to future expected cash flows from customer relationships, as well as assumptions about customer attrition rate. Other estimates associated with the accounting for acquisitions may change as additional information becomes available regarding the assets acquired and liabilities assumed.
Fair Value	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. The fair value of the Company’s external debt under its Credit Agreement approximates its carrying value because the terms and conditions approximate those of current market debt available to the Company. Due to the floating interest rate the debt is classified as Level 2 of the fair value hierarchy. 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 Company’s Credit Agreement was $65.3 million and $55.3 million as of December 31, 2019 and 2020, respectively. The fair value of cash approximates its carrying value (Level 1 of the fair value hierarchy). The Company’s Level 3 liability for contingent consideration of $3.0 million that was added during the three-month period ended September 30, 2019 was fully paid to Riverbed Technologies, Inc. as of February 2020 in consideration for the sale to the Company of the Xirrus business. The entire $3.0 was earned as of December 31, 2019 and the Company made a payment of $2.7 million in November 2019 and paid the remaining $0.3 million in February 2020.
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 3 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 2019 and 2020, 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. 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 Company determines the fair value of the reporting unit and compares the fair value 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 material impairment losses for the years ended December 31, 2018, 2019 and 2020.
Leases	Leases The Company has both cancelable and noncancelable operating leases for office space, vehicles, and office equipment. The Company adopted ASC 842, Leases, (“ASC 842”) 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 provides a standard warranty on its products, with the term depending on the product, and records a liability for the estimated future costs associated with potential warranty claims. 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 liability 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 December 31, 2018, 2019 and 2020, the Company had not made a provision for withholding taxes on approximately $5.4 million, $8.5 million and $13.8 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 would recognize 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 would reverse the liability and recognize an income tax benefit during the period in which new information becomes available indicating that the liability is no longer necessary. The Company would record 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 such an adjustment for the years ended December 31, 2018, 2019 or 2020.
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 Cambium Holdings (Cayman), L.P. 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 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 2019. 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 one-time share-based compensation of $15.4 million related to these awards during the year ended December 31, 2019. 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 at $12.00 per share, the Company issued an aggregate 2,172,000 share options and restricted share units to employees and directors.
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 for each operating subsidiary is the local currency of the 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 (loss) 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. Starting in 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 years ended December 31, 2018, 2019 and 2020, the Company expensed $38.9 million, $47.7 million, and $43.2 million, respectively, which included $0, $5.4 and $1.6 million of share-based compensation expense, respectively, of research and development costs.
Recently adopted accounting pronouncements and Recently issued accounting pronouncements not yet adopted	Recently adopted accounting pronouncements Beginning in 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, plus a number of related ASUs designed to clarify and interpret ASC 606 (collectively codified as “ASC 606”). The new standard replaced most existing revenue recognition guidance in U.S. GAAP. The core principle of the ASU requires revenue recognition based upon newly defined criteria, either at a point in time or over time, as control of good or services is transferred. The ASU requires additional disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and estimates, and changes in those estimates. The new standard became effective as of January 1, 2018 and the Company adopted ASC 606 using the modified retrospective transition method which required an adjustment to accumulated deficit for the cumulative effect of applying ASC 606 to active contracts as of the adoption date. The Company recorded an increase to accumulated deficit of $0.9 million upon adoption. Beginning in February 2016, the FASB issued ASU 2016-02, Leases, plus a number of related ASUs, which sets out the principles for the recognition, measurement, presentation and disclosures of leases for both parties to a contract (i.e., lessees and lessors) (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. In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, and subsequent amendments to the initial guidance: ASUs 2018-19, 2019-04, 2019-05, 2019-11, and 2020-02 (collectively, “Topic 326”). Topic 326 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, including trade accounts receivable, and certain off-balance sheet credit exposures. The Company adopted Topic 326 on January 1, 2020 using the modified retrospective transition method for all financial assets measured at amortized costs, which is primarily trade accounts receivable. Results for the reporting periods beginning after January 1, 2020 are presented under Topic 326 while prior period amounts continue to be reported in accordance with previously applicable U.S. GAAP. The adoption of Topic 326 did not have a material impact to the consolidated financial statements. 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 Company adopted this ASU effective January 1, 2020 applying the changes prospectively to all implementation costs incurred after this date. The adoption of ASU 2018-15 did not have a material impact on the consolidated financial statements as there were no large implementation projects in 2020. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This update provides optional expedients and exceptions for applying generally accepted accounting principles to certain contract modification and hedging relationships that reference London Inter-bank Offered Rate (LIBOR) or another reference rate that is expected to be discontinued. The guidance is effective for all entities as of March 12, 2020 through December 31, 2022, when the reference rate replacement activity is expected to be completed. The adoption of ASU 2020-04 will not have an impact on the consolidated financial statements until the debt agreement is modified to no longer reference LIBOR. Recently issued accounting pronouncements not yet adopted In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes, as part of its Simplification Initiative to reduce the cost and complexity in accounting for income taxes. ASU 2019-12 removes certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period, and the recognition of deferred tax liabilities for outside basis differences. ASU 2019-12 also amends other aspects of the guidance to help simplify and promote consistent application of GAAP. The guidance is effective for interim and annual period beginning after December 15, 2020, with early adoption permitted. The Company will adopt ASU 2019-12 during the first quarter of 2021. The adoption of ASU 2019-12 will effect the classification of taxes, but is not expected to impact reported results in the consolidated financial statements.

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Summary of Final Allocation of Purchase Price

The following table summarizes the final allocation of the purchase price for Xirrus:

Goodwill	$	1,782
Customer relationships		7,670
Unpatented technology		540
Deferred revenue		(7,460	)
Other net assets acquired		2,468
Total purchase price	$	5,000

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2020

Balance Sheet Related Disclosures [Abstract]

Components of Accounts Receivable, Net

The components of accounts receivable, net are as follows (in thousands):

	December 31,			December 31,
	2019			2020
Trade accounts receivable	$	58,774		$	57,657
Other receivables		434			1,376
Total receivables		59,208			59,033
Less: Allowance for doubtful accounts		(580	)		(919	)
Receivables, net	$	58,628		$	58,114

Schedule of Allowance for Credit Losses Activity

The allowance for credit losses activity was as follows (in thousands):

	Year ended December 31,			Year ended December 31,
	2019			2020
Beginning balance	$	503		$	580
Increase, charged to expense		333			316
Recoveries		(204	)		(101	)
Provision for late fee charges		—			191
Amounts written-off		(52	)		(67	)
Ending balance	$	580		$	919

Schedule of Inventories, Net

Inventories, net consisted of the following (in thousands):

	December 31,			December 31,
	2019			2020
Finished goods	$	42,402		$	35,241
Raw materials		4,227			4,576
Gross inventory		46,629			39,817
Less: Excess and obsolete provision		(4,959	)		(5,855	)
Inventories, net	$	41,670		$	33,962

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,			Year ended December 31,
	2019			2020
Beginning balance	$	3,950		$	4,959
Inventory written off		(149	)		(1,577	)
Increase in excess and obsolete provision		1,158			2,473
Ending balance	$	4,959		$	5,855

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following (in thousands):

	December 31,		December 31,
	2019		2020
Accrued goods and services	$	8,364	$	7,937
Accrued inventory purchases		3,094		4,830
Accrued customer rebates		3,569		7,380
Other		7		13
Accrued liabilities	$	15,034	$	20,160

Schedule of Change to Accrued Warranty

Provision for warranty claims is primarily related to our hardware products and recorded at the time products are sold. The change to accrued warranty was as follows (in thousands):

	Year ended December 31,		Year ended December 31,
	2019		2020
Beginning balance	$	488	$	706
Warranties assumed due to acquisition		180		1,174
Fulfillment of assumed acquisition warranty		—		(482	)
Provision increase, net		38		316
Ending balance	$	706	$	1,714

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Schedule of Property and Equipment, Net

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

		December 31,			December 31,
	Useful Life	2019			2020
Equipment and tooling	3 to 5 years	$	22,150		$	24,367
Computer equipment	3 to 5 years		2,888			3,137
Furniture and fixtures	10 years		749			745
Leasehold improvements	2 to 3 years		—			282
Total cost			25,787			28,531
Less: Accumulated depreciation			(17,473	)		(20,996	)
Property and equipment, net		$	8,314		$	7,535

Software (Tables)

12 Months Ended

Dec. 31, 2020

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, 2019							December 31, 2020
	Useful Life	Gross carrying amount		Accumulated amortization			Net balance		Gross carrying amount		Accumulated amortization			Net balance
Unpatented technology	3 - 7 years	$	14,660	$	(14,195	)	$	465	$	14,660	$	(14,375	)	$	285
Customer relationships	5 - 18 years		19,300		(5,631	)		13,669		19,300		(7,128	)		12,172
Patents	7 years		11,300		(11,300	)		—		11,300		(11,300	)		—
Trademarks	10 years		5,270		(4,304	)		966		5,270		(4,832	)		438
Total		$	50,530	$	(35,430	)	$	15,100	$	50,530	$	(37,635	)	$	12,895

Schedule of Estimated Amortization Expense of Capitalized Software and Intangible Assets

Based on capitalized intangible assets as of December 31, 2020, estimated amortization expense amounts in future fiscal years are as follows (in thousands):

Year ending December 31,	Amortization
2021		2,116
2022		1,603
2023		1,498
2024		1,498
2025		1,498
Thereafter		4,682
Total amortization	$	12,895

Capitalized Software Assets

Schedule of Carrying Amount and Amortization of Software and Intangible Assets

Software consisted of the following (in thousands):

		December 31, 2019							December 31, 2020
	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	$	15,870	$	(13,471	)	$	2,399	$	15,680	$	(14,214	)	$	1,466
Software marketed for external sale	3 years		1,805		(809	)		996		3,411		(1,439	)		1,972
Total		$	17,675	$	(14,280	)	$	3,395	$	19,091	$	(15,653	)	$	3,438

Schedule of Estimated Amortization Expense of Capitalized Software and Intangible Assets

Based on capitalized software assets at December 31, 2020, estimated amortization expense in future fiscal years is as follows (in thousands):


Year ending December 31,	Acquired and internal use software		Software marketed for external use		Total
2021		683		760		1,443
2022		411		637		1,048
2023		162		504		666
2024		68		68		136
2025		68		3		71
Thereafter		74		—		74
Total amortization	$	1,466	$	1,972	$	3,438

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Change in Carrying Amount of Goodwill

The change in the carrying amount of goodwill for the years ended December 31, 2019 and 2020 was as follows (in thousands):

	December 31,		December 31,
	2019		2020
Beginning balance	$	8,060	$	8,552
Additions attributable to acquisition		492		—
Acquisition adjustments		—		1,290
Ending balance	$	8,552	$	9,842

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, 2019							December 31, 2020
	Useful Life	Gross carrying amount		Accumulated amortization			Net balance		Gross carrying amount		Accumulated amortization			Net balance
Unpatented technology	3 - 7 years	$	14,660	$	(14,195	)	$	465	$	14,660	$	(14,375	)	$	285
Customer relationships	5 - 18 years		19,300		(5,631	)		13,669		19,300		(7,128	)		12,172
Patents	7 years		11,300		(11,300	)		—		11,300		(11,300	)		—
Trademarks	10 years		5,270		(4,304	)		966		5,270		(4,832	)		438
Total		$	50,530	$	(35,430	)	$	15,100	$	50,530	$	(37,635	)	$	12,895

Schedule of Estimated Amortization Expense of Capitalized Software and Intangible Assets

Based on capitalized intangible assets as of December 31, 2020, estimated amortization expense amounts in future fiscal years are as follows (in thousands):

Year ending December 31,	Amortization
2021		2,116
2022		1,603
2023		1,498
2024		1,498
2025		1,498
Thereafter		4,682
Total amortization	$	12,895

Debt (Tables)

12 Months Ended

Dec. 31, 2020

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 December 31, 2019 and December 31, 2020 (in thousands):

	December 31,			December 31,
	2019			2020
Term loan facility	$	65,250		$	55,250
Less debt issuance costs		(1,638	)		(1,092	)
Total external debt, net		63,612			54,158
Less current portion of term facility		(10,000	)		(29,747	)
Current portion of debt issuance costs		546			546
Total long-term external debt, net	$	54,158		$	24,957

Schedule of Maturities on Long-term External Debt Outstanding

Maturities on the long-term external debt outstanding at December 31, 2020 are as follows (in thousands):

Year ending December 31,
2021		29,747
2022		25,503
Total	$	55,250

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

December 31,

2020

March 31,

2021

June 30,

2021

September 30,

2021

December 31,

2021

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

1.25:1.00

Quarterly consolidated fixed charge

coverage ratio

Time period

Trailing twelve-month

Quarterly consolidated leverage ratio

Max ratio

2.50:1.00

2.25:1.00

2.00:1.00

1.75:1.00

Quarterly consolidated leverage ratio

Time period

Trailing twelve month

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

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 year ended December 31, 2020:

	Number of shares
Available for grant at December 31, 2019		426,022
Added to 2019 Share Incentive Plan		1,283,649
RSUs granted		(506,500	)
Options granted		(560,000	)
Shares withheld in settlement of taxes and/or exercise price		11,526
Forfeitures		177,437
Available for grant at December 31, 2020		832,134

Schedule of Total Share Based Compensation Expense

The following table shows total share-based compensation expense for the years ended December 31, 2018, 2019 and 2020 (in thousands):

	Year ended December 31,
	2018		2019		2020
Cost of revenues	$	—	$	211	$	67
Research and development		—		5,363		1,599
Sales and marketing		—		4,185		980
General and administrative		—		7,937		790
Total share-based compensation expense	$	—	$	17,696	$	3,436

Summary of Stock Option Activity

The following is a summary of option activity for the Company’s share incentive plans for year ended December 31, 2020:

	Options			Weighted average exercise price		Weighted Average remaining contractual term (years)		Aggregate intrinsic value
Outstanding at December 31, 2019		2,920,500		$	10.00		9.6	$	1,932,000
Options granted		560,000		$	15.65		—	$	—
Options exercised		(138,878	)	$	11.72		—	$	—
Options forfeited		(177,437	)	$	10.88		—	$	—
Outstanding at December 31, 2020		3,164,185		$	11.24		8.8	$	43,793,890
Options exercisable at December 31, 2020		888,255		$	10.77		8.6	$	12,707,950
Options vested and expected to vest at December 31, 2020		3,006,834		$	11.21		8.8	$	41,699,334

Schedule of Estimated Fair Value of Weighted Average Assumptions

	For the years ended December 31,
	2018			2019			2020
Expected dividend yield		—			—			—
Risk-free interest rate		2.70	%		1.81	%		0.39	%
Weighted-average expected volatility		46.8	%		40.8	%		50.0	%
Expected term (in years)		6.0			6.1			6.5
Weighted average grant-date fair value per share of options granted	$	—		$	4.34		$	7.56

Summary of Restricted Shares Activity

The following is a summary of restricted shares activity for the Company’s share incentive plans for the year ended December 31, 2020:

	Units			Weighted average grant date fair value
RSU and RSA balance at December 31, 2019		257,119		$	12.00
RSUs and RSAs granted		506,500		$	4.56
RSUs and RSAs vested/exercised		(227,844	)	$	1.44
RSUs and RSAs forfeited		(16,578	)	$	7.39
RSU and RSA balance at December 31, 2020		519,197		$	4.89
RSUs and RSAs expected to vest at December 31, 2020		519,197		$	4.89

Share Capital - Shares (Tables)

12 Months Ended

Dec. 31, 2020

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, 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		2,220,788			—
Shares withheld for net settlement of shares issued to MIU holders		(80,620	)		—
Issuance of shares in Initial Public Offering		5,800,000			1
Issuance of vested shares		28,061			—
Balance at December 31, 2019		25,672,983		$	3
Issuance of vested shares		234,191			—
Share options exercised		138,878			—
Shares withheld for net settlement of shares issued		(11,526	)		—
Balance at December 31, 2020		26,034,526		$	3

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2020

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 (in thousands, except for share and per share data):

	Year ended December 31,
	2018			2019			2020
Numerator:
Net (loss) income	$	(1,513	)	$	(17,601	)	$	18,575
Denominator:
Basic weighted average shares outstanding		13,600,411			19,741,764			25,707,092
Dilutive effect of share option awards		—			—			228,388
Dilutive effect of restricted share units and restricted share awards		—			—			467,632
Diluted weighted average shares outstanding		13,600,411			19,741,764			26,403,112
Net (loss) earnings per share, basic	$	(0.11	)	$	(0.89	)	$	0.72
Net (loss) earnings per share, diluted	$	(0.11	)	$	(0.89	)	$	0.70

Schedule of Anti-dilutive Securities Excluded from Computation of Diluted Net Loss Per Share

	Year ended December 31,
	2018		2019		2020
Share options		—		2,921		2,082
Restricted shares (RSUs and RSAs)		—		257		—
Total		—		3,178		2,082

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Components of Income (Loss) Before Income Taxes

For the years ended December 31, 2018, 2019 and 2020, income (loss) before income taxes includes the following components (in thousands):

	Years ended December 31,
	2018			2019			2020
United States	$	3,544		$	4,183		$	2,648
Foreign		(5,856	)		(11,504	)		15,483
Total	$	(2,312	)	$	(7,321	)	$	18,131

Schedule of (Benefit) Provision of Income Taxes

For the years ended December 31, 2018, 2019 and 2020, the (benefit) provision for income taxes consists of the following (in thousands):

	Years ended December 31,
	2018			2019			2020
Current:
U.S. federal	$	200		$	1,078		$	(198	)
State		129			643			(181	)
Foreign		735			1,157			1,007
Current tax provision		1,064			2,878			628
Deferred:
U.S. federal	$	107		$	380		$	(664	)
State		(14	)		(6	)		(144	)
Foreign		(1,956	)		7,028			(264	)
Deferred tax (benefit) provision		(1,863	)		7,402			(1,072	)
(Benefit) provision for income taxes	$	(799	)	$	10,280		$	(444	)

Computation of (Benefit) Provision of Income Taxes Reconciliation

	Years ended December 31,
	2018			2019			2020
Income tax expense (benefit) at federal statutory rate	$	(486	)	$	(1,537	)	$	3,808
State and local income taxes net of federal benefit		115			540			(295	)
Tax rate changes		(178	)		662			(925	)
Valuation allowance changes		(112	)		9,599			(1,226	)
Foreign rate differential		329			369			(181	)
Research and development		(488	)		(1,286	)		(1,455	)
Share-based compensation - excess tax benefit		—			2,807			(171	)
Foreign derived intangible income		(266	)		(1,166	)		(349	)
Other		287			292			350
(Benefit) provision for income taxes	$	(799	)	$	10,280		$	(444	)

Schedule of Deferred Tax Assets and Liabilities

The sources of these differences for the years ended December 31, 2019 and 2020 are as follows (in thousands):

		Years ended December 31,
		2019			2020
NOL and tax credit carryforwards		$	8,466		$	6,997
Disallowed interest carryforwards			1,686			1,654
Lease liability			1,481			993
Property and equipment			146			573
Share-based compensation			488			1,163
Intangible assets			155			105
Other			73			250
Subtotal			12,495			11,735
Less: Valuation allowance			(9,599	)		(8,373	)
Net deferred tax assets			2,896			3,362
Operating lease asset			(1,312	)		(884	)
Prepaid expenses and other assets			(635	)		(278	)
Other			(357	)		(672	)
Subtotal			(2,304	)		(1,834	)
Less: Valuation allowance			—			—
Net deferred tax liabilities			(2,304	)		(1,834	)
Total deferred tax assets, net		$	592		$	1,528
Deferred tax assets/liabilities included in the balance sheet are:

	Years ended December 31,
		2019			2020
Deferred tax assets - non-current		$	929		$	1,537
Deferred tax liabilities - non-current			337			9
Total deferred tax assets, net		$	592		$	1,528

Summary of Valuation Allowance on Deferred Tax Assets

For the years ended December 31, 2019 and 2020, the following table reflects the activity in the Company’s valuation allowance on deferred tax assets (in thousands):

	Years ended December 31,
	2019		2020
Beginning balance	$	—	$	9,599
Increase (release) of valuation allowance		9,599		(1,226	)
Ending balance	$	9,599	$	8,373

Summary of Gross NOL Carryforwards Expire

The Company’s gross NOL carryforwards expire as follows:

	Years ended December 31,
	2019	2020
Unlimited carryforward	$38.0 million	$28.1 million
10+ year carryforward	$0.3 million		—

Summary of Tax Credit Carryforwards and Expiration

The Company’s research and development tax credit carryforwards and their expiration are as follows:

	Years ended December 31,
	2019		2020
Unlimited carryforward	$1.7 million		$1.5 million
10+ year carryforward		—		—

Summary of Gross CIR Carryforwards Expire

The Company’s gross carryforwards expire as follows:

	Years ended December 31,
	2019	2020
Unlimited carryforward	$9.9 million	$8.7 million

Segment Information and Revenues by Geography (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Revenues by Product Category

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

	Years ended December 31,
	2018				2019				2020
Point-to-Multi-Point	$	146,621	61	%	$	156,157	59	%	$	172,601	62	%
Point-to-Point		71,678	30	%		71,618	27	%		60,435	22	%
Wi-Fi		19,571	8	%		35,678	13	%		39,990	14	%
Other		3,892	1	%		3,575	1	%		5,433	2	%
Total Revenues	$	241,762	100	%	$	267,028	100	%	$	278,459	100	%

Schedule of Revenue by Geography

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

	Years Ended December 31,
	2018				2019				2020
North America	$	108,884	45	%	$	122,565	46	%	$	147,328	53	%
Europe, Middle East and Africa		75,503	31	%		85,930	32	%		80,927	29	%
Caribbean and Latin America		29,833	12	%		31,767	12	%		29,418	11	%
Asia Pacific		27,542	12	%		26,766	10	%		20,786	7	%
Total Revenues	$	241,762	100	%	$	267,028	100	%	$	278,459	100	%

Summary of Customers with Accounts Receivables and Customer with Net Revenues of 10% or Greater

	Percentage of Revenues									Percentage of Accounts Receivable
	Years Ended December 31,									As of December 31,
	2018			2019			2020			2019			2020
Customer A		16	%		16	%		19	%		20	%		31	%
Customer B		12	%		11	%	*			*			*
Customer C	*			*				14	%	*			*
Customer D	*			*			*			*				10	%

* denotes percentage is less than 10%

Revenue from Contracts with Customers (Table)

12 Months Ended

Dec. 31, 2020

Revenue From Contract With Customer [Abstract]

Summary of Contract Balances

The following table summarizes contract balances as of December 31, 2019 and December 31, 2020:

	December 31, 2019		December 31, 2020
Trade accounts receivable, net of allowance for doubtful accounts/estimate of credit losses	$	58,254	$	56,798
Deferred revenue - current		7,430		6,471
Deferred revenue - noncurrent		4,852		4,448
Refund liability	$	2,223	$	2,416

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Components of Lease Expense

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

	Year Ended December 31, 2019		Year Ended December 31, 2020
Operating lease cost	$	2,410	$	2,586
Short-term lease cost		183		341
Variable lease costs		406		375
Total lease expense	$	2,999	$	3,302

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	December 31, 2019			December 31, 2020
Operating leases:
Operating lease assets	Operating lease assets	$	6,872		$	5,083
Current lease liabilities	Other current liabilities	$	2,125		$	2,167
Noncurrent lease liabilities	Noncurrent operating lease liabilities	$	5,335		$	3,332
Weighted average remaining lease term (years):
Operating leases			3.98			3.35
Weighted average discount rate:
Operating leases			8.50	%		8.36	%

Supplemental Cash Flow Information

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


	2019		2020
Supplemental cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	2,461	$	2,701

Maturities on Lease Liabilities

Remaining maturities on lease liabilities at December 31, 2020 is as follows (in thousands):

	Operating leases
2021	$	2,544
2022		1,421
2023		1,323
2024		565
2025		316
Thereafter		174
Total lease payments		6,343
Less: interest		844
Present value of lease liabilities	$	5,499

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of Unaudited Quarterly Financial Statements of Operations.

		Three months ended										Year ended
		March 31,		June 30,			September 30,		December 31,			December 31,
		2019		2019			2019		2019			2019
	(unaudited)
Revenues		$	68,112	$	69,151		$	65,703	$	64,062		$	267,028
Cost of revenues			36,322		34,839			33,871		30,767			135,799
Gross profit			31,790		34,312			31,832		33,295			131,229
Operating expenses
Research and development			10,482		15,189			9,895		12,126			47,692
Sales and marketing			10,218		14,227			10,363		11,445			46,253
General and administrative			5,130		13,063			5,996		5,936			30,125
Depreciation and amortization			1,281		1,227			1,449		1,901			5,858
Total operating expenses			27,111		43,706			27,703		31,408			129,928
Operating income (loss)			4,679		(9,394	)		4,129		1,887			1,301
Interest expense, net			2,268		2,301			2,105		1,402			8,076
Other expense, net			134		56			61		295			546
Income (loss) before income taxes			2,277		(11,751	)		1,963		190			(7,321	)
Provision for income taxes			415		8,623			3		1,239			10,280
Net income (loss)		$	1,862	$	(20,374	)	$	1,960	$	(1,049	)	$	(17,601	)

		Three months ended											Year ended
		March 31,			June 30,			September 30,		December 31,			December 31,
		2020			2020			2020		2020			2020
	(unaudited)
Revenues		$	60,429		$	62,254		$	72,971	$	82,805		$	278,459
Cost of revenues			29,797			31,782			36,902		40,568			139,049
Gross profit			30,632			30,472			36,069		42,237			139,410
Operating expenses
Research and development			11,814			9,299			10,213		11,862			43,188
Sales and marketing			10,304			8,035			8,293		10,152			36,784
General and administrative			6,446			6,625			8,604		7,176			28,851
Depreciation and amortization			1,695			1,700			1,643		1,601			6,639
Total operating expenses			30,259			25,659			28,753		30,791			115,462
Operating income			373			4,813			7,316		11,446			23,948
Interest expense, net			1,345			1,525			1,259		1,197			5,326
Other (income) expense, net			(216	)		(22	)		318		411			491
(Loss) income before income taxes			(756	)		3,310			5,739		9,838			18,131
Provision (benefit) for income taxes			82			(2	)		144		(668	)		(444	)
Net (loss) income		$	(838	)	$	3,312		$	5,595	$	10,506		$	18,575

Description of Business and Summary of Significant Accounting Policies - Additional Information (Details)				1 Months Ended			3 Months Ended								12 Months Ended
	Jul. 01, 2019 USD ($)	Jun. 28, 2019 USD ($) $ / shares shares	Jun. 06, 2019 shares	Feb. 29, 2020 USD ($)	Nov. 30, 2019 USD ($)	Jun. 30, 2019 USD ($) shares	Dec. 31, 2020 USD ($) $ / shares shares	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($) $ / shares shares	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2020 USD ($) Segment Unit Customer $ / shares shares	Dec. 31, 2019 USD ($) Unit Customer $ / shares shares	Dec. 31, 2018 USD ($) Customer	Apr. 23, 2019 shares	Jan. 01, 2019 USD ($)	Jan. 01, 2018 USD ($)	Oct. 28, 2011 shares
Business And Significant Accounting Policies [Line Items]
Share subdivision ratio			100
Proceeds from issuance of initial public offering		$ 66,000,000														$ 65,988,000
Payment of offering costs																4,616,000
Paydown debt															$ 10,000,000	$ 30,212,000	$ 4,500,000
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				26,126,775				25,753,603				26,126,775	25,753,603		771.79			771.79
Restricted share awards granted \| shares		240,037
Share-based compensation						$ 15,400,000									$ 3,436,000	$ 17,696,000
Issue price of share options and restricted share units \| $ / shares							$ 11.24				$ 10.00				$ 11.24	$ 10.00
Number of operating segment \| Segment															1
Number of reporting unit \| Unit															1	1
Fair value credit agreement							$ 55,300,000				$ 65,300,000				$ 55,300,000	$ 65,300,000
Impairment losses for long-lived assets															0	0	0
Undistributed earnings							13,800,000				8,500,000				13,800,000	8,500,000	5,400,000
Research and development							11,862,000	$ 10,213,000	$ 9,299,000	$ 11,814,000	12,126,000	$ 9,895,000	$ 15,189,000	$ 10,482,000	43,188,000	47,692,000	38,917,000
Increase to accumulated deficit							44,799,000				63,374,000				44,799,000	63,374,000
Operating lease assets							5,083,000				$ 6,872,000				5,083,000	6,872,000
Operating lease liabilities							$ 5,499,000								5,499,000
ASC 606
Business And Significant Accounting Policies [Line Items]
Increase to accumulated deficit																				$ 900,000
ASC 842
Business And Significant Accounting Policies [Line Items]
Operating lease assets																			$ 8,200,000
Operating lease liabilities																			$ 8,800,000
Research and Development Costs
Business And Significant Accounting Policies [Line Items]
Share-based compensation															$ 1,600,000	5,400,000	$ 0
Contingent Consideration
Business And Significant Accounting Policies [Line Items]
Level 3 liability for contingent consideration												$ 3,000,000				$ 3,000,000
Accounts Receivables \| Customer Concentration Risk
Business And Significant Accounting Policies [Line Items]
Concentration risk, percentage															10.00%	10.00%
Number of customers \| Customer															2	1
Revenues \| Customer Concentration Risk
Business And Significant Accounting Policies [Line Items]
Concentration risk, percentage															10.00%	10.00%	10.00%
Number of customers \| Customer															2	2	2
Minimum
Business And Significant Accounting Policies [Line Items]
Collection period for trade accounts receivable																30 days
Intangible asset, estimated useful life															3 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
Shares sold, price per share \| $ / shares		$ 12.00
Shares issued VCH, L.P. \| shares		17,704,754
Employees and Service Providers
Business And Significant Accounting Policies [Line Items]
Shares issued during period \| shares		2,140,168
Employees and Directors
Business And Significant Accounting Policies [Line Items]
Share options and restricted share units issued \| shares						2,172,000										2,172,000
Xirrus Wi-Fi Business
Business And Significant Accounting Policies [Line Items]
Payment for contingent consideration				$ 300,000	$ 2,700,000
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
Underwriting discounts and commissions		$ 3,600,000
Payment of offering costs																$ 4,600,000
Paydown debt	$ 30,700,000															30,700,000
Payment of management fees owed to Vector Capital																$ 5,600,000
Issue price of share options and restricted share units \| $ / shares											$ 12.00					$ 12.00
IPO \| Recapitalization Awards
Business And Significant Accounting Policies [Line Items]
Share-based compensation																$ 15,400,000
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		$ 12.00
IPO \| Employees and Directors
Business And Significant Accounting Policies [Line Items]
Issue price of share options and restricted share units \| $ / shares		$ 12.00
IPO \| Riverbed Technology Inc.
Business And Significant Accounting Policies [Line Items]
Payments of select assets and select liabilities																$ 4,700,000

Business Combinations - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Cash paid upon closing of acquisition		$ 334	$ 4,666
Xirrus Wi-Fi Business
Business Acquisition [Line Items]
Cash paid upon closing of acquisition	$ 2,000
Additional contingent consideration on attaining booking targets related to product sales	$ 3,000

Business Combinations - Summary of Final Allocation of Purchase Price (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Aug. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 9,842	$ 8,552		$ 8,060
Xirrus Wi-Fi Business
Business Acquisition [Line Items]
Goodwill			$ 1,782
Deferred revenue			(7,460)
Other net assets acquired			2,468
Total purchase price			5,000
Xirrus Wi-Fi Business \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets			7,670
Xirrus Wi-Fi Business \| Unpatented Technology
Business Acquisition [Line Items]
Intangible assets			$ 540

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Product Warranty Liability [Line Items]
Accrued warranty	$ 1,714	$ 706	$ 488
Other Current Liabilities
Product Warranty Liability [Line Items]
Accrued warranty	1,100	$ 700
Other Noncurrent Liabilities
Product Warranty Liability [Line Items]
Accrued warranty	$ 600
Topic 326
Product Warranty Liability [Line Items]
Change in accounting principle accounting standards update adopted	true
Change in accounting principle accounting standards update adopted date	Jan. 01, 2020

- Definition

Indicates (true false) whether accounting standards update was adopted.

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Date accounting standards update was adopted, in CCYY-MM-DD format.

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+ Details

Balance Sheet Components - Components of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts Notes And Loans Receivable [Line Items]
Total receivables	$ 59,033	$ 59,208
Less: Allowance for doubtful accounts	(919)	(580)	$ (503)
Receivables, net	58,114	58,628
Trade Accounts Receivable
Accounts Notes And Loans Receivable [Line Items]
Total receivables	57,657	58,774
Other Receivables
Accounts Notes And Loans Receivable [Line Items]
Total receivables	$ 1,376	$ 434

Balance Sheet Components - Schedule of Allowance for Credit Losses Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounts Receivable Net Current [Abstract]
Beginning balance	$ 580	$ 503
Increase, charged to expense	316	333
Recoveries	(101)	(204)
Provision for late fee charges	191
Amounts written-off	(67)	(52)
Ending balance	$ 919	$ 580

Balance Sheet Components - Schedule of Inventories, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Inventory Net [Abstract]
Finished goods	$ 35,241	$ 42,402
Raw materials	4,576	4,227
Gross inventory	39,817	46,629
Less: Excess and obsolete provision	(5,855)	(4,959)	$ (3,950)
Inventories, net	$ 33,962	$ 41,670

Balance Sheet Components - Schedule of Inventory Excess and Obsolete Provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Inventory Net [Abstract]
Beginning balance	$ 4,959	$ 3,950
Inventory written off	(1,577)	(149)
Increase in excess and obsolete provision	2,473	1,158
Ending balance	$ 5,855	$ 4,959

Balance Sheet Components - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accrued Liabilities Current [Abstract]
Accrued goods and services	$ 7,937	$ 8,364
Accrued inventory purchases	4,830	3,094
Accrued customer rebates	7,380	3,569
Other	13	7
Accrued liabilities	$ 20,160	$ 15,034

Balance Sheet Components - Schedule of Change to Accrued Warranty (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Standard Product Warranty Disclosure [Abstract]
Beginning balance	$ 706	$ 488
Warranties assumed due to acquisition	1,174	180
Fulfillment of assumed acquisition warranty	(482)
Provision increase, net	316	38
Ending balance	$ 1,714	$ 706

Property and Equipment - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Total cost	$ 28,531	$ 25,787
Less: Accumulated depreciation	(20,996)	(17,473)
Property and equipment, net	7,535	8,314
Equipment and Tooling
Property Plant And Equipment [Line Items]
Total cost	$ 24,367	22,150
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	$ 3,137	2,888
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
Leasehold Improvements
Property Plant And Equipment [Line Items]
Total cost	$ 282
Leasehold Improvements \| Minimum
Property Plant And Equipment [Line Items]
Useful Life	2 years
Leasehold Improvements \| Maximum
Property Plant And Equipment [Line Items]
Useful Life	3 years
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Useful Life	10 years
Total cost	$ 745	$ 749

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Abstract]
Depreciation expense	$ 3,685	$ 3,583	$ 2,836

Software - Schedule of Software (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 19,091	$ 17,675
Accumulated amortization	(15,653)	(14,280)
Net balance	$ 3,438	3,395
Minimum
Finite Lived Intangible Assets [Line Items]
Useful Life	3 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	$ 15,680	15,870
Accumulated amortization	(14,214)	(13,471)
Net balance	$ 1,466	2,399
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	$ 3,411	1,805
Accumulated amortization	(1,439)	(809)
Net balance	$ 1,972	$ 996

Software - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Minimum
Finite Lived Intangible Assets [Line Items]
Useful Life	3 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	$ 0.8	$ 0.7	$ 1.7
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	$ 0.6	$ 0.5	$ 0.3

Software - Schedule of Estimated Amortization Expense of Capitalized Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
2021	$ 2,116
2022	1,603
2023	1,498
2024	1,498
2025	1,498
Thereafter	4,682
Total amortization	12,895	$ 15,100
Capitalized Software Assets
Finite Lived Intangible Assets [Line Items]
2021	1,443
2022	1,048
2023	666
2024	136
2025	71
Thereafter	74
Total amortization	3,438
Capitalized Software Assets \| Acquired and Internal Use Software
Finite Lived Intangible Assets [Line Items]
2021	683
2022	411
2023	162
2024	68
2025	68
Thereafter	74
Total amortization	1,466
Capitalized Software Assets \| Software Marketed for External Use
Finite Lived Intangible Assets [Line Items]
2021	760
2022	637
2023	504
2024	68
2025	3
Total amortization	$ 1,972

Goodwill and Intangible Assets - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020 USD ($) Segment Unit Subsidiary	Dec. 31, 2019 USD ($) Unit	Dec. 31, 2018 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Number of operating segment \| Segment	1
Number of reportable segments \| Segment	1
Number of operating subsidiaries \| Subsidiary	2
Number of reporting unit \| Unit	1	1
Adjustments to carrying value of goodwill	$ 0	$ 0
Impairment of goodwill	0	0
Amortization expense	$ 2,200,000	$ 1,600,000	$ 4,200,000

Goodwill and Intangible Assets - Schedule of Change in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance	$ 8,552	$ 8,060
Additions attributable to acquisition		492
Acquisition adjustments	1,290
Ending balance	$ 9,842	$ 8,552

Goodwill and Intangible Assets - Schedule of Carrying Amount and Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 50,530	$ 50,530
Accumulated amortization	(37,635)	(35,430)
Total amortization	$ 12,895	15,100
Minimum
Finite Lived Intangible Assets [Line Items]
Useful Life	3 years
Maximum
Finite Lived Intangible Assets [Line Items]
Useful Life	18 years
Unpatented Technology
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 14,660	14,660
Accumulated amortization	(14,375)	(14,195)
Total amortization	$ 285	465
Unpatented Technology \| Minimum
Finite Lived Intangible Assets [Line Items]
Useful Life	3 years
Unpatented Technology \| Maximum
Finite Lived Intangible Assets [Line Items]
Useful Life	7 years
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 19,300	19,300
Accumulated amortization	(7,128)	(5,631)
Total amortization	$ 12,172	13,669
Customer Relationships \| Minimum
Finite Lived Intangible Assets [Line Items]
Useful Life	5 years
Customer Relationships \| Maximum
Finite Lived Intangible Assets [Line Items]
Useful Life	18 years
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	(4,832)	(4,304)
Total amortization	$ 438	$ 966

Goodwill and Intangible Assets - Schedule of Estimated Amortization Expense of Capitalized Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets Net [Abstract]
2021	$ 2,116
2022	1,603
2023	1,498
2024	1,498
2025	1,498
Thereafter	4,682
Total amortization	$ 12,895	$ 15,100

Debt - Additional Information (Details) - USD ($)					1 Months Ended	3 Months Ended		12 Months Ended
Debt - Additional Information (Details) - USD ($)	Nov. 13, 2020	Jul. 01, 2019	Jun. 28, 2019	Dec. 21, 2017	Nov. 30, 2018	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt outstanding								$ 55,250,000
Repayment of term loan								$ 10,000,000	$ 30,212,000	$ 4,500,000
Quarterly consolidated fixed charge coverage ratio								125.00%
Percentage of excess of cash payable to lender			50.00%
Net interest expense								$ 5,300,000	8,100,000	$ 8,100,000
Write-down of deferred issuance costs									500,000
First Quarter
Debt Instrument [Line Items]
Loan repayment in each quarter			$ 2,500,000
Second Quarter
Debt Instrument [Line Items]
Loan repayment in each quarter			2,500,000
Third Quarter
Debt Instrument [Line Items]
Loan repayment in each quarter			2,500,000
Fourth Quarter
Debt Instrument [Line Items]
Loan repayment in each quarter			$ 2,500,000
IPO
Debt Instrument [Line Items]
Repayment of term loan		$ 30,700,000							30,700,000
Third Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 100,000,000
Waiver and First Amendment Credit Agreement
Debt Instrument [Line Items]
Administration fee					$ 250,000
Current Portion of Long-Term Debt
Debt Instrument [Line Items]
Required excess cash flow payment under provision								19,700,000
Term Loan Facility
Debt Instrument [Line Items]
Debt outstanding								55,250,000	65,250,000
Required excess cash flow payment under provision								$ 19,700,000
Repayment of principal, expected date								Jun. 03, 2021
Line of credit facility, maximum increase in borrowing capacity				40,000,000
Repayment of term loan									$ 20,700,000
Term Loan Facility \| Base Rate
Debt Instrument [Line Items]
Debt instrument base rate	4.25%							4.25%	4.75%
Term Loan Facility \| Scenario Forecast \| Base Rate
Debt Instrument [Line Items]
Debt instrument base rate						4.00%	4.25%
Term Loan Facility \| Third Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Debt outstanding		70,000,000
Line of credit facility, maximum borrowing capacity				$ 90,000,000
Debt instrument, maturity date				Dec. 21, 2022
Term Loan Facility \| Current Portion of Long-Term Debt
Debt Instrument [Line Items]
Required excess cash flow payment under provision								$ 19,700,000
Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding								0	$ 0
Debt Instrument amount available under credit facility								$ 10,000,000
Revolving Credit Facility \| Third Amended and Restated Credit Agreement
Debt Instrument [Line Items]
Debt outstanding		$ 10,000,000
Line of credit facility, maximum borrowing capacity				$ 10,000,000
Credit facility, expiration date				Dec. 21, 2022
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

Debt - Schedule of Current and Noncurrent Portions of External Debt Facilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term debt, Gross	$ 55,250
Less debt issuance costs	(1,092)	$ (1,638)
Total external debt, net	54,158	63,612
Less current portion of term facility	(29,747)	(10,000)
Current portion of debt issuance costs	546	546
Total long-term external debt, net	24,957	54,158
Term Loan Facility
Debt Instrument [Line Items]
Long-term debt, Gross	$ 55,250	$ 65,250

Debt - Schedule of Maturities on Long-term External Debt Outstanding (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Maturities Of Long Term Debt [Abstract]
2021	$ 29,747
2022	25,503
Total	$ 55,250

Debt - Schedule of Current Debt Compliance with Covenant (Details)	12 Months Ended
	Dec. 31, 2020
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 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 third quarter of next year	125.00%
Consolidated fixed charge coverage ratio fourth quarter of next year	125.00%
Consolidated fixed charge coverage ratio description, twelve month	Trailing twelve-month
Consolidated leverage coverage ratio fourth quarter	250.00%
Consolidated leverage coverage ratio first quarter of next year	225.00%
Consolidated leverage coverage ratio second quarter of next year	225.00%
Consolidated leverage coverage ratio third quarter of next year	200.00%
Consolidated leverage coverage ratio fourth quarter of next year	175.00%
Consolidated leverage ratio description, twelve month	Trailing twelve month

Contributed Capital - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Jun. 28, 2019	Dec. 31, 2019
Contributed Capital [Line Items]
Issuance of additional shares for the unreturned capital and accumulated yield		$ 49,252
VCH, L.P.
Contributed Capital [Line Items]
Shares sold, price per share	$ 12.00
VCH, L.P. \| Class A Units
Contributed Capital [Line Items]
Issuance of additional shares for the unreturned capital and accumulated yield	$ 49,200

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 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	$ 1.0	$ 1.1	$ 1.0
UK Plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employer discretionary contribution amount	$ 0.4	$ 0.4	$ 0.4
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%

Other Expense - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Expenses
Other Non Operating Income and Expense [Line Items]
Foreign exchange losses	$ 0.5	$ 0.5	$ 0.6

Share-Based Compensation - Additional Information (Details) - USD ($)		1 Months Ended		12 Months Ended
	Mar. 24, 2020	Dec. 31, 2020	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 28, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense			$ 15,400,000	$ 3,436,000	$ 17,696,000
Shares granted				506,500
Pretax unrecognized compensation expense				$ 12,300,000
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		$ 12,707,950		$ 12,707,950	$ 0	$ 0
Share options exercised				138,878	0	0
Cash received from share options exercised				$ 1,628,000
Unrecognized pre-tax share based compensation expense related to unvested share option awards		10,300,000		$ 10,300,000
Unrecognized share-based compensation expense, weighted-average period of recognition				2 years 10 months 24 days
Unrecognized pre-tax compensation expense related to unvested share awards		$ 2,000,000		$ 2,000,000
IPO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share price							$ 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				806,730
Number of original shares available under ESPP			550,000
Number of additional shares available under ESPP	256,730
Percentage of purchase price shares on first trading day of each offering period or on the purchase date			85.00%
RSAs and RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized share-based compensation expense, weighted-average period of recognition				3 years
Shares to pay employees' portion of minimum payroll withholding taxes				5,074
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
Recapitalization Awards \| IPO
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense					$ 15,400,000
Phantom Unit Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense					2,200,000
RSAs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares vested		205,926
RSAs \| IPO \| Upon Achievement of Market Condition
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]
Number of shares authorized	1,283,649	1,283,649		1,283,649
Shares granted				506,500
Percentage of outstanding shares			5.00%
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 authorized			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
2019 Share Incentive Plan \| RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted				506,500
Shares vested				0

Share-Based Compensation - Summary of Changes in Number of Shares Available for Grant (Details) - shares	12 Months Ended
	Dec. 31, 2020	Mar. 24, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs granted	(506,500)
Options granted	(560,000)
Forfeitures	177,437
2019 Share Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Available for grant, beginning balance	426,022
Number of shares authorized	1,283,649	1,283,649
RSUs granted	(506,500)
Options granted	(560,000)
Shares withheld in settlement of taxes and/or exercise price	11,526
Forfeitures	177,437
Available for grant, ending balance	832,134

Share-Based Compensation - Schedule of Total Share Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 3,436	$ 17,696
Cost of Revenues
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	67	211
Research and Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	1,599	5,363
Sales and Marketing
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	980	4,185
General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total share-based compensation expense	$ 790	$ 7,937

Share-Based Compensation - Summary of Stock Option Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Options
Options outstanding, Beginning balance	2,920,500
Options granted	560,000
Options exercised	(138,878)	0	0
Options forfeited	(177,437)
Options outstanding, Ending balance	3,164,185	2,920,500
Options exercisable	888,255
Options vested and expected to vest	3,006,834
Weighted average exercise price
Weighted average exercise price, Outstanding beginning balance	$ 10.00
Weighted average exercise price, Options granted	15.65
Weighted average exercise price, Options exercised	11.72
Weighted average exercise price, Options forfeited	10.88
Weighted average exercise price, Outstanding ending balance	11.24	$ 10.00
Weighted average exercise price, Options exercisable	10.77
Weighted average exercise price, Options vested and expected to vest	$ 11.21
Weighted average remaining contractual term (years)
Weighted average remaining contractual term, Options outstanding	8 years 9 months 18 days	9 years 7 months 6 days
Weighted average remaining contractual term, Options exercisable	8 years 7 months 6 days
Weighted average remaining contractual term, Options vested and expected to vest	8 years 9 months 18 days
Aggregate intrinsic value, Outstanding, Beginning balance	$ 43,793,890	$ 1,932,000
Aggregate intrinsic value, Options exercisable	12,707,950	$ 0	$ 0
Aggregate intrinsic value, Options vested and expected to vest	$ 41,699,334

Share-Based Compensation - Schedule of Estimated Fair Value of Weighted Average Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Risk-free interest rate	0.39%	1.81%	2.70%
Weighted-average expected volatility	50.00%	40.80%	46.80%
Expected term (in years)	6 years 6 months	6 years 1 month 6 days	6 years
Weighted average grant-date fair value per share of options granted	$ 7.56	$ 4.34

Share-Based Compensation - Summary of Restricted Shares Activity (Details)	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Number of Units
Number of Units, RSU and RSA, beginning balance \| shares	257,119
Number of Units, RSU and RSA, granted \| shares	506,500
Number of Units, RSU and RSA, vested/exercised \| shares	(227,844)
Number of Units, RSU and RSA, forfeited \| shares	(16,578)
Number of Units, RSU and RSA, ending balance \| shares	519,197
Number of Units, RSUs and RSAs, expected to vest \| shares	519,197
Weighted average grant date fair value
Weighted average grant date fair value, RSU and RSA, beginning balance \| $ / shares	$ 12.00
Weighted average grant date fair value, RSU and RSA, granted \| $ / shares	4.56
Weighted average grant date fair value, RSU and RSA, vested/exercised \| $ / shares	1.44
Weighted average grant date fair value, RSU, and RSA, forfeited \| $ / shares	7.39
Weighted average grant date fair value, RSU and RSA, ending balance \| $ / shares	4.89
Weighted average grant date fair value, RSU and RSA, expected to vest \| $ / shares	$ 4.89

Share Capital - Shares (Share Capital Activity) (Details) - USD ($) $ in Thousands		12 Months Ended
	Jun. 28, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Capitalization Equity [Line Items]
Beginning balance, shares		25,672,983	77,179
Share options exercised, Number of shares		138,878	0	0
Shares withheld for net settlement of shares issued, Number of shares		(11,526)
Issuance of vested shares, Number of shares		234,191	28,061
Ending balance, shares		26,034,526	25,672,983	77,179
Beginning balance		$ 3
Share options exercised		1,628
Issuance of shares in Initial Public Offering, Value			$ 61,373
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			2,220,788
Shares withheld for net settlement of shares issued, Number of shares			(80,620)
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
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		12 Months Ended
	Jun. 28, 2019	Dec. 31, 2020	Dec. 31, 2019	Jun. 06, 2019	Apr. 23, 2019	Oct. 28, 2011
Common stock, shares issued		26,126,775	25,753,603	77,179	771.79	771.79
Common stock, par value		$ 0.0001	$ 0.0001	$ 0.0001	$ 0.01	$ 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
Common stock, shares, outstanding		26,034,526	25,672,983	77,179	771.79
Shares withheld		92,146	80,620
VCH, L.P.
Common stock, shares issued	17,704,754
Share price	$ 12.00
Shares issued during period	17,627,575
MIU Holders
Issuance of shares to MIU holders			2,220,788
Employees and Service Providers
Shares issued during period	2,140,168
Issuance of shares to MIU holders	2,220,788
Shares withheld	80,620
Employees and Service Providers \| MIU Holders
Issuance of shares to MIU holders	2,220,788
IPO
Share price	$ 12.00
Shares issued during period	5,800,000		5,800,000
IPO \| VCH, L.P.
Share price	$ 12.00
Shares issued during period	1,500,000
Common Stock
Share price						$ 1,000
Shares issued during period			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								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator:
Net (loss) income	$ 10,506	$ 5,595	$ 3,312	$ (838)	$ (1,049)	$ 1,960	$ (20,374)	$ 1,862	$ 18,575	$ (17,601)	$ (1,513)
Denominator:
Basic weighted average shares outstanding									25,707,092	19,741,764	13,600,411
Dilutive effect of share option awards									228,388
Dilutive effect of restricted share units and restricted share awards									467,632
Diluted weighted average shares outstanding									26,403,112	19,741,764	13,600,411
Net (loss) earnings per share, basic									$ 0.72	$ (0.89)	$ (0.11)
Net (loss) earnings per share, diluted									$ 0.70	$ (0.89)	$ (0.11)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

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

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+ Details

Earnings Per Share - Schedule of Anti-dilutive Securities Excluded from Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Anti-dilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	2,082	3,178
Share Options
Anti-dilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share	2,082	2,921
Restricted Shares (RSUs and RSAs)
Anti-dilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted net loss per share		257

Earnings Per Share - Additional Information (Details) - $ / shares		12 Months Ended
	Jun. 28, 2019	Dec. 31, 2019	Dec. 31, 2020	Jun. 06, 2019	Apr. 23, 2019	Oct. 28, 2011
Earnings Per Share Basic [Line Items]
Common stock, authorized		500,000,000	500,000,000	500,000,000	5,000,000
Common stock, par value		$ 0.0001	$ 0.0001	$ 0.0001	$ 0.01	$ 0.01
Common stock, shares issued		25,753,603	26,126,775	77,179	771.79	771.79
Common stock, shares, outstanding		25,672,983	26,034,526	77,179	771.79
Employees and Service Providers
Earnings Per Share Basic [Line Items]
Additional shares issued as part of recapitalization	2,140,168
Issuance of shares to MIU holders	2,220,788
IPO
Earnings Per Share Basic [Line Items]
Additional shares issued as part of recapitalization	5,800,000	5,800,000
Share price	$ 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
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	$ 12.00

Income Taxes - Components of Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
United States									$ 2,648	$ 4,183	$ 3,544
Foreign									15,483	(11,504)	(5,856)
(Loss) income before income taxes	$ 9,838	$ 5,739	$ 3,310	$ (756)	$ 190	$ 1,963	$ (11,751)	$ 2,277	$ 18,131	$ (7,321)	$ (2,312)

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Income Taxes - Schedule of (Benefit) Provision of Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S. federal, Current									$ (198)	$ 1,078	$ 200
State, Current									(181)	643	129
Foreign, Current									1,007	1,157	735
Current tax provision									628	2,878	1,064
U.S. federal, Deferred									(664)	380	107
State, Deferred									(144)	(6)	(14)
Foreign, Deferred									(264)	7,028	(1,956)
Deferred tax (benefit) provision									(1,072)	7,402	(1,863)
(Benefit) provision for income taxes	$ (668)	$ 144	$ (2)	$ 82	$ 1,239	$ 3	$ 8,623	$ 415	$ (444)	$ 10,280	$ (799)

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Income Taxes [Line Items]
Statutory rate									21.00%	21.00%	21.00%
Change in deferred tax assets valuation allowance									$ (1,200,000)	$ 9,600,000
Valuation allowance against deferred tax asset to income tax expense									7,700,000	9,300,000
Valuation allowance against additional deferred tax asset to income tax expense										300,000
NOL carryforward	$ 28,100,000				$ 38,300,000				28,100,000	38,300,000
NOL carryforward, indefinite life	28,100,000				38,000,000				28,100,000	38,000,000
Deferred tax asset related to NOL	5,300,000				6,700,000				5,300,000	6,700,000
CIR carryforward	8,700,000				9,900,000				8,700,000	9,900,000
Reduction in deferred tax asset related to utilization of CIR									1,200,000
Unrecognized tax positions	0				0				0	0
Income tax (benefit) expense	(668,000)	$ 144,000	$ (2,000)	$ 82,000	1,239,000	$ 3,000	$ 8,623,000	$ 415,000	$ (444,000)	$ 10,280,000	$ (799,000)
Effective tax rate									(2.40%)	(140.40%)	34.60%
Research and Development
Schedule Of Income Taxes [Line Items]
Tax credit carryforward	1,500,000				1,700,000				$ 1,500,000	$ 1,700,000
Tax credit carryforward, indefinite life	$ 1,500,000				$ 1,700,000				$ 1,500,000	$ 1,700,000
UK
Schedule Of Income Taxes [Line Items]
Statutory rate									19.00%	19.00%	19.00%
Tax returns open, tax years									2017 2018 2019
California \| Research and Development
Schedule Of Income Taxes [Line Items]
Additional valuation allowance on the related deferred tax asset									$ 400,000
Valuation allowance on the related deferred tax asset									$ 700,000
India \| Earliest Tax Year
Schedule Of Income Taxes [Line Items]
Tax returns open, tax years									2014
India \| Latest Tax Year
Schedule Of Income Taxes [Line Items]
Tax returns open, tax years									2020
US \| Earliest Tax Year
Schedule Of Income Taxes [Line Items]
Tax returns open, tax years									2017

Income Taxes - Computation of (Benefit) Provision of Income Taxes Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense (benefit) at federal statutory rate									$ 3,808	$ (1,537)	$ (486)
State and local income taxes net of federal benefit									(295)	540	115
Tax rate changes									(925)	662	(178)
Valuation allowance changes									(1,226)	9,599	(112)
Foreign rate differential									(181)	369	329
Research and development									(1,455)	(1,286)	(488)
Share-based compensation - excess tax benefit									(171)	2,807
Foreign derived intangible income									(349)	(1,166)	(266)
Other									350	292	287
(Benefit) provision for income taxes	$ (668)	$ 144	$ (2)	$ 82	$ 1,239	$ 3	$ 8,623	$ 415	$ (444)	$ 10,280	$ (799)

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
NOL and tax credit carryforwards	$ 6,997	$ 8,466
Disallowed interest carryforwards	1,654	1,686
Lease liability	993	1,481
Property and equipment	573	146
Share-based compensation	1,163	488
Intangible assets	105	155
Other	250	73
Subtotal	11,735	12,495
Less: Valuation allowance	(8,373)	(9,599)
Net deferred tax assets	3,362	2,896
Operating lease asset	(884)	(1,312)
Prepaid expenses and other assets	(278)	(635)
Other	(672)	(357)
Subtotal	(1,834)	(2,304)
Net deferred tax liabilities	(1,834)	(2,304)
Total deferred tax assets, net	$ 1,528	$ 592

Income Taxes - Deferred Tax Assets/Liabilities Included in Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Deferred tax assets - non-current	$ 1,537	$ 929
Deferred tax liabilities - non-current	9	337
Total deferred tax assets, net	$ 1,528	$ 592

Income Taxes - Summary of Valuation Allowance on Deferred Tax Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Beginning balance	$ 9,599
Increase (release) of valuation allowance	(1,226)	$ 9,599
Ending balance	$ 8,373	$ 9,599

Income Taxes - Summary of Gross NOL Carryforwards Expire (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
NOL, Unlimited carryforward	$ 28.1	$ 38.0
NOL, 10+ year carryforward		$ 0.3

Income Taxes - Summary of Tax Credit Carryforwards and Expiration (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Research and Development
Tax Credit Carryforward [Line Items]
Tax credit carryforwards, Unlimited carryforward	$ 1.5	$ 1.7

Income Taxes - Summary of Gross CIR Carryforwards Expire (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Corporate interest restriction disallowance, Unlimited carryforward	$ 8.7	$ 9.9

Segment Information and Revenues by Geography - Additional Information (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Dec. 31, 2020 USD ($) Segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Segment Reporting Information [Line Items]
Number of reporting segments \| Segment									1
Number of operating segment \| Segment									1
Revenues	$ 82,805	$ 72,971	$ 62,254	$ 60,429	$ 64,062	$ 65,703	$ 69,151	$ 68,112	$ 278,459	$ 267,028	$ 241,762
Description of customer with accounts receivable and net revenue									Customers with an accounts receivable balance of 10% or greater of total accounts receivable and customers with net revenues of 10% or greater of total revenues
United States
Segment Reporting Information [Line Items]
Revenues									$ 140,700	121,300	101,500
Italy
Segment Reporting Information [Line Items]
Revenues									$ 31,600	$ 38,400	$ 36,800

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 22
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Segment Information and Revenues by Geography - Schedule of Revenue by Product Category (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 82,805	$ 72,971	$ 62,254	$ 60,429	$ 64,062	$ 65,703	$ 69,151	$ 68,112	$ 278,459	$ 267,028	$ 241,762
Sales Revenue, Product Line \| Product Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage									100.00%	100.00%	100.00%
Point-to-Multi-Point
Segment Reporting Information [Line Items]
Revenues									$ 172,601	$ 156,157	$ 146,621
Point-to-Multi-Point \| Sales Revenue, Product Line \| Product Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage									62.00%	59.00%	61.00%
Point-to-Point
Segment Reporting Information [Line Items]
Revenues									$ 60,435	$ 71,618	$ 71,678
Point-to-Point \| Sales Revenue, Product Line \| Product Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage									22.00%	27.00%	30.00%
Wi-Fi
Segment Reporting Information [Line Items]
Revenues									$ 39,990	$ 35,678	$ 19,571
Wi-Fi \| Sales Revenue, Product Line \| Product Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage									14.00%	13.00%	8.00%
Other
Segment Reporting Information [Line Items]
Revenues									$ 5,433	$ 3,575	$ 3,892
Other \| Sales Revenue, Product Line \| Product Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage									2.00%	1.00%	1.00%

- Definition

+ References

+ Details

Segment Information and Revenues by Geography - Schedule of Revenue by Geography (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenues	$ 82,805	$ 72,971	$ 62,254	$ 60,429	$ 64,062	$ 65,703	$ 69,151	$ 68,112	$ 278,459	$ 267,028	$ 241,762
Sales Revenue, Product Line \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage									100.00%	100.00%	100.00%
North America
Segment Reporting Information [Line Items]
Revenues									$ 147,328	$ 122,565	$ 108,884
North America \| Sales Revenue, Product Line \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage									53.00%	46.00%	45.00%
Europe, Middle East and Africa
Segment Reporting Information [Line Items]
Revenues									$ 80,927	$ 85,930	$ 75,503
Europe, Middle East and Africa \| Sales Revenue, Product Line \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage									29.00%	32.00%	31.00%
Caribbean and Latin America
Segment Reporting Information [Line Items]
Revenues									$ 29,418	$ 31,767	$ 29,833
Caribbean and Latin America \| Sales Revenue, Product Line \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage									11.00%	12.00%	12.00%
Asia Pacific
Segment Reporting Information [Line Items]
Revenues									$ 20,786	$ 26,766	$ 27,542
Asia Pacific \| Sales Revenue, Product Line \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Concentration risk, percentage									7.00%	10.00%	12.00%

- Definition

+ References

+ Details

Segment Information and Revenues by Geography - Summary of Customers with Accounts Receivables and Customer with Net Revenues of 10% or Greater (Details) - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts Receivables
Segment Reporting Information [Line Items]
Concentration risk, percentage	10.00%	10.00%
Customer A \| Sales Revenue, Product Line
Segment Reporting Information [Line Items]
Concentration risk, percentage	19.00%	16.00%	16.00%
Customer A \| Accounts Receivables
Segment Reporting Information [Line Items]
Concentration risk, percentage	31.00%	20.00%
Customer B \| Sales Revenue, Product Line
Segment Reporting Information [Line Items]
Concentration risk, percentage		11.00%	12.00%
Customer C \| Sales Revenue, Product Line
Segment Reporting Information [Line Items]
Concentration risk, percentage	14.00%
Customer D \| Accounts Receivables
Segment Reporting Information [Line Items]
Concentration risk, percentage	10.00%

Revenue from Contracts with Customers - Summary of Contract Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Trade accounts receivable, net of allowance for doubtful accounts/estimate of credit losses	$ 56,798	$ 58,254
Deferred revenues	6,471	7,430
Deferred revenues	4,448	4,852
Refund liability	$ 2,416	$ 2,223

Revenue from Contracts with Customers - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Deferred revenue	$ 10.9	$ 12.3
Revenue remaining performance obligation	6.5	7.4
Revenue recognized	$ 7.3	$ 2.8	$ 2.9
Revenue practical expedient, incremental cost of obtaining contract [true/false]	true

Revenue from Contracts with Customers - Additional Information (Details 1)	Dec. 31, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Remaining performance obligation expected to be recognized period	1 year

Leases - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2018	Jan. 01, 2019
Leases [Line Items]
Rent expense		$ 2,300
Lessee operating lease option to extend	true
Present value of the lease liabilities	$ 5,499
Office Facility Lease and Vehicle Lease
Leases [Line Items]
Present value of the lease liabilities	$ 100
Minimum
Leases [Line Items]
Lessee operating lease term of contract	1 year
Lessee operating lease option to extend period	1 year
Maximum
Leases [Line Items]
Lessee operating lease term of contract	6 years
Lessee operating lease option to extend period	4 years
ASC 842
Leases [Line Items]
Change in accounting principle accounting standards update adopted	true
Change in accounting principle accounting standards update adopted date	Jan. 01, 2019
Present value of the lease liabilities			$ 8,800

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease cost	$ 2,586	$ 2,410
Short-term lease cost	341	183
Variable lease costs	375	406
Total lease expense	$ 3,302	$ 2,999

Leases - Supplemental Balance Sheet Information related to Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating leases:
Operating lease assets	$ 5,083	$ 6,872
Current lease liabilities	$ 2,167	$ 2,125
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Noncurrent operating lease liabilities	$ 3,332	$ 5,335
Weighted average remaining lease term (years):
Operating leases	3 years 4 months 6 days	3 years 11 months 23 days
Weighted average discount rate:
Operating leases	8.36%	8.50%

Leases - Supplemental Cash Flow Information related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Supplemental cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$ 2,701	$ 2,461

Leases - Remaining Maturities on Lease Liabilities (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Leases [Abstract]
2021	$ 2,544
2022	1,421
2023	1,323
2024	565
2025	316
Thereafter	174
Total lease payments	6,343
Less: interest	844
Present value of lease liabilities	$ 5,499

Related Party Transactions - Additional Information (Details) $ / shares in Units, $ in Millions			12 Months Ended
	Jul. 03, 2019 USD ($)	Nov. 21, 2018 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jun. 28, 2019 $ / shares
IPO
Related Party Transaction [Line Items]
Shares sold, price per share \| $ / shares						$ 12.00
Vector Capital IV L.P. \| Term Loan Facility Tranche B
Related Party Transaction [Line Items]
Maximum guarantee payment amount		$ 25.0
Maximum guarantee payment amount equal to debt		1.10
Vector Capital Management L.P.
Related Party Transaction [Line Items]
Management and oversight fees			$ 0.0	$ 0.3	$ 0.5
Payment to related party	$ 5.6
Due to related parties			$ 0.0	$ 0.0
VCH, L.P.
Related Party Transaction [Line Items]
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

Quarterly Financial Data (Unaudited) - Schedule Of Unaudited Consolidated Statements Of Operation (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 82,805	$ 72,971	$ 62,254	$ 60,429	$ 64,062	$ 65,703	$ 69,151	$ 68,112	$ 278,459	$ 267,028	$ 241,762
Cost of revenues	40,568	36,902	31,782	29,797	30,767	33,871	34,839	36,322	139,049	135,799	126,267
Gross profit	42,237	36,069	30,472	30,632	33,295	31,832	34,312	31,790	139,410	131,229	115,495
Operating expenses
Research and development	11,862	10,213	9,299	11,814	12,126	9,895	15,189	10,482	43,188	47,692	38,917
Sales and marketing	10,152	8,293	8,035	10,304	11,445	10,363	14,227	10,218	36,784	46,253	42,658
General and administrative	7,176	8,604	6,625	6,446	5,936	5,996	13,063	5,130	28,851	30,125	18,804
Depreciation and amortization	1,601	1,643	1,700	1,695	1,901	1,449	1,227	1,281	6,639	5,858	8,765
Total operating expenses	30,791	28,753	25,659	30,259	31,408	27,703	43,706	27,111	115,462	129,928	109,144
Operating income (loss)	11,446	7,316	4,813	373	1,887	4,129	(9,394)	4,679	23,948	1,301	6,351
Interest expense, net	1,197	1,259	1,525	1,345	1,402	2,105	2,301	2,268	5,326	8,076	8,113
Other (income) expense, net	411	318	(22)	(216)	295	61	56	134	491	546	550
(Loss) income before income taxes	9,838	5,739	3,310	(756)	190	1,963	(11,751)	2,277	18,131	(7,321)	(2,312)
(Benefit) provision for income taxes	(668)	144	(2)	82	1,239	3	8,623	415	(444)	10,280	(799)
Net (loss) income	$ 10,506	$ 5,595	$ 3,312	$ (838)	$ (1,049)	$ 1,960	$ (20,374)	$ 1,862	$ 18,575	$ (17,601)	$ (1,513)