Cambium Networks shares surge 24.4% premarket after appointing BDO as new auditor to restate financials and address audit coordination challenges.

Cambium Networks surged 24.4% in premarket trading following its announcement to appoint BDO USA, PC as its new independent auditor, replacing Grant Thornton LLP. The move aims to streamline audit coordination for restating financial statements for 2022–2024, addressing material weaknesses in internal controls and delayed filings. Despite ongoing challenges—including restatements for revenue recognition errors and Nasdaq delisting risks—the auditor change may signal progress toward resolving governance and reporting issues, potentially restoring investor confidence. The stock’s sharp rise suggests market optimism that BDO’s engagement could stabilize the company’s financial credibility amid its restructuring efforts.