RE: Last gasp before it dies.4 Jun 2026 14:03
During Q1 2026, Ethernity has recognised $0.2 million in revenue from this programme. Based on the agreed development roadmap, the Company expects enhancement-related revenue from this Customer to be in the range of $0.8 million to $1.0 million for FY2026, providing increased visibility on near-term revenues.
In addition, the Customer has commenced shipments of its platform incorporating Ethernity's IP and is evaluating expansion to an additional platform. While discussions are ongoing, any additional licence agreement would represent incremental revenue beyond amounts set out above.
The Company continues to work closely with the Customer on a phased enhancement programme throughout 2026.
David Levi, CEO, commented:
"This Tier-1 Customer continues to provide both near-term revenue visibility and potential for further platform expansion. The progression from initial deployment to ongoing enhancement work supports our strategy of deepening engagements with high-value customers."