P3 Tech Consulting’s Post

Ethernity Networks Ltd (AIM:ENET, OTCQB:ENETF) has announced two outstanding contracts should be fulfilled within the next financial year after customer-related delays. The two contracts relate to deals signed in October 2021 and November 2022 for a wireless backhaul solution and a broadband wireless access solution respectively. #EthernityNetworks has completed the development of circuits, known as field-programmable gate array units, for each order, but is still awaiting prototype hardware from the customers to be combined with its technology. Each company has now confirmed their intention to deliver the hardware to #Ethernity in the fourth quarter of this year, the company said in a statement. This will allow Ethernity to complete each contract and invoice the pair for a combined US$550,000, which is outstanding from the initial US$740,000 worth of orders. More at #Proactive #ProactiveInvestors #AIM #OTCQB #ENET #ENETF http://ow.ly/HPKF104QGh9

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Ethernity Networks Ltd (AIM:ENET, OTCQB:ENETF) said it has won a contract with a long-term networking data communications customer, including a US$800,000 payment for an expansion of its existing licence. Shares in the company more than tripled to 2.45p on the news. The supplier of data processing semiconductor technology said the full payment due under the contract is expected to be received in the current quarter, with a US$500,000 licence fee expected to contribute towards the company's 2023 revenues. Further payments of US$300,000 are prepayments against future royalties and so are expected to contribute towards 2024 revenues. Having received recurring royalty payments from the customer under the previous licence agreement for more than a decade, Ethernity's board expressed optimism that the expansion of the license will lead to higher year-on-year royalties. More at #Proactive #ProactiveInvestors #AIM #OTCQB #ENET #ENETF http://ow.ly/ONBR10544Tg

#Q2FY24Results📢: We have achieved steady revenue growth, secured significant deals, and improved our margins this quarter, with Q2 revenues clocking 3.2% QoQ growth at $288 million. All five of our segments experienced sequential growth and we successfully closed six deals valued at approximately $20 million each. A standout deal being a $10 million+ win that showcased our SWC capabilities in North America. This success can be attributed to our superior end-to-end technology stack for wireless and 5G communications, which continues to set us apart in the market. Our innovation engine is firing on all cylinders. In Q2 alone, we filed a total of 53 patents, bringing our cumulative filings close to the 1,200 milestone. #EngineeringTheChange

#Q2FY24Results📢: We have achieved steady revenue growth, secured significant deals, and improved our margins this quarter, with Q2 revenues clocking 3.2% QoQ growth at $288 million. All five of our segments experienced sequential growth and we successfully closed six deals valued at approximately $20 million each. A standout deal being a $10 million+ win that showcased our SWC capabilities in North America. This success can be attributed to our superior end-to-end technology stack for wireless and 5G communications, which continues to set us apart in the market. Our innovation engine is firing on all cylinders. In Q2 alone, we filed a total of 53 patents, bringing our cumulative filings close to the 1,200 milestone

We had a strong showing in the second quarter, demonstrating resilience and our ability to further grow our large deals momentum. The growth was broad based with all segments growing sequentially, after 4 quarters.   Our deal wins continued to remain strong – 7 deals of $10M plus of which 6 were around $20M each. We also had 2 significant empanelment deals. Like our growth, the deal wins were also broad-based in nature.   We are excited about the pipeline in both US and Europe as we continue to add new customers and grow our existing engagements. Our collaboration with hyperscalers and chip companies is helping us develop AI solutions and services benefitting various industries. These in turn are helping us advance the growth and transformation agendas of our customers.   A shout out to our customers and partners for their constant support and patronage and to our employees to be passionate in our endeavor to #EngineertheChange

• Revenue: o $288.1 Mn; cc 3.2% QoQ; INR 3.7% QoQ ; $1.15Bn ARR o All 5 sectors grew QoQ after 4 quarters, led by Transport and PE 4% each, Hi-tech 2.3%, MD 1.4%, IP 1%. • Strong deal bookings – 6x $20M deal Won; our 1st $10mn+ deal leveraging SWC in 5G in the US  • Maintained EBIT margin at 17.1% in spite of wage hike, investments in Q1 • Improved Net profit at ₹315 Cr; 5% YoY • 53 patent filings in Q2 ; 10th quarter of 50+ patents filing #EngineeringTheChange #LTTS #Q2FY24

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