Business
Results for the Year Ended 31 December 2021
Results for the Year Ended 31 December 2021.
About this update from Ethernity Networks Ltd.
[{"type":"text","content":"\n \n \n \n RNS Number : 7123H\n Ethernity Networks Ltd\n 08 April 2022\n \n \n \n \n 8 April 2022 \n \n \n \n \n \n Ethernity Networks Ltd.\n \n \n (Ethernity or the \"Company\")\n \n \n Results for the Year Ended 31 December 2021 \n \n \n and \n \n \n Appointment of Non-Executive Director \n \n \n Ethernity Networks Ltd (AIM: ENET.L), a leading supplier of networking processing technology ported on FPGA (field programmable gate array) for virtualised networking appliances, today announces its results for the year ended 31 December 2021.\n \n \n Financial Highlights\n \n \n - Revenues increased by 42.2% to $2.64m (2020: $1.85m)\n \n \n - Gross margins increased by 22.9% to $1.94m (2020: $1.58m)\n \n \n - Gross margin percentage declined to 73.8% (2020 85.4%)\n \n \n - Operating costs before amortisation of intangible assets, depreciation charges, provisions and other non-operational charges increased by 32.1% to $6.9m (2020: $5.27m)\n \n \n - EBITDA loss increased by 35.7% to a loss of $5.05m (2020: loss of $3.72m)\n \n \n - Cash funds raised during the year of ~$11.2m before costs (2020: $3.3m), through placing, share subscription and warrants exercises.\n \n \n Operational Highlights and Post-period highlights\n \n \n Operational Highlights \n \n \n - 5G Distribution Unit (DU) FPGA implementation on top of our ACE-NIC100 FPGA SmartNIC delivered to three Tier-1 server vendors for telco OpenRAN trials.\n \n \n - Production orders of $2m received for 2021 and 2022 for ENET Flow Processor FPGA systems-on-chip (SoCs) from American fixed wireless broadband solution manufacturer customer. The Company has secured supplies of the required components for this product for the remainder of the 2021 year and 2022 deliveries.\n \n \n - Ethernity's 5G DU Aggregation and vRouting on FPGA SmartNIC solution shortlisted for a prestigious 2021 Global Mobile (\"GLOMO\") Award.\n \n \n - New contract signed in July 2021 (\"Contracted UEP Module\") with international wireless connectivity vendor to supply switch module with ENET patented link bonding UEP product, with an initial order for $930,000, and anticipated revenue for 22/23 of around $4m.\n \n - Our UEP-20 (Universal Edge Platform) product equipped with wireless bonding technology successfully completed live field...