Business
Half-year Report
Half-year Report.
About this update from Ethernity Networks Ltd.
[{"type":"text","content":"\n \n \n \n RNS Number : 0794J\n Ethernity Networks Ltd\n 19 August 2021\n \n \n \n \n 19 August 2021\n \n \n \n \n \n \n \n \n ETHERNITY NETWORKS LTD\n \n \n (\"Ethernity\" or the \"Company\" or the \"Group\")\n \n \n \n \n \n Interim results for the six months ended 30 June 2021 and Update\n \n \n \n \n Ethernity Networks Ltd (AIM: ENET.L), a leading supplier of programable networking solutions utilising patented and innovative network processing technology ported on FPGA (field programmable gate array) for virtualised networking appliances, today announces its interim results for the six months ended 30 June 2021 and provides the following Company update.\n \n Ethernity provides innovative, comprehensive networking and security solutions on programmable hardware for accelerating telco/cloud networks. Ethernity's programmable networking solutions that utilise FPGAs, offer complete Carrier Ethernet Switch Router data plane processing and control software with a rich set of networking features, robust security, and a wide range of virtual function accelerations to optimise telecommunications networks. Ethernity's complete solutions quickly adapt to customers' changing needs, improving time-to-market and facilitating the deployment of 5G, edge computing, and NFV (network functions virtualisation).\n \n \n \n \n Financial summary\n \n \n · \n Revenues increased by 165.8% to $955,371 over the comparable period (H1 2020: $359,375) \n \n \n · \n Gross margin increased by 91.1% to $605,852 over the comparable period (H1 2020: $316,982)\n \n \n · \n Gross margin percentage declined to 63.42% (H1 2020: 88.20%) due to increased revenues from product sales with lower margins as opposed to the ~100% margins from licensing and royalties revenues \n \n \n · \n Research and Development, General and Administrative, and Marketing expenses increased by 6.8% over previous period due mainly to return to normal operations from the COVID-19 cut backs\n \n \n · \n EBITDA loss remained consistent with the previous period, increasing by 2.1% to $2,473,686 (H1 2020 comparable adjusted EBITDA loss: $2,422,574)\n \n \n · \n Operating loss increased by 1.0% over the comparable period\n \n \n · The cash resources during the period under review were further bolstered following additional investment of £1.8m ($2.5m) f...