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Margins
The gross margin percentage increased to 61.9% in 2023 from 54.4 % in 2022 reflecting an increase of 7.5 percentage points which is mainly attributed to the increased licensing revenues which carry a 100% profit margin.
The signals for growth are there after stabilising the company.
Need to break 1.2p first
1 month high 1.3p
13 week high 2.0p
52 week high 6.95p
Onwards from here
This momentum positions us for significant future growth as our OEM partners leverage our solutions to win market share and generate revenue for themselves. We anticipate this will translate into substantial new revenue opportunities for Ethernity in 2025.
Ethernity expects to secure new contracts for our Carrier Ethernet and PON technology, generating approximately $2.2- $3 million in incremental non-recurring engineering (NRE) revenue in 2024 on top of our established business.
Outlook
While 2023 presented its share of challenges, Ethernity successfully finalised its UEP as a complete system product. This marks a significant step forward, enabling us to evolve beyond offering just FPGA SoCs and provide comprehensive solutions which all integrate ENET implementation of FPGA SoC, hardware and software application. This shift empowers our customers to achieve faster time-to-market and accelerate revenue generation. Previously, deploying products based on our FPGA SoCs typically took 18 months. With the UEP all integrated system, the time to revenue or deployment from sign-off can be dramatically reduced to just six months. This enhanced efficiency positions Ethernity to capitalize on planned customer wins and drive near-term growth.
By transitioning to a system-based approach, Ethernity unlocks significant value for a broader customer base. Our comprehensive solutions, combining powerful FPGA SoCs with Ethernity's semiconductor expertise and application software, eliminate the need for in-house product development by our customers. This empowers companies without extensive engineering resources to leverage our technology and quickly launch their own solutions. This strategic shift positions Ethernity to strengthen its market position, expand its OEM customer base, and attract new partners who can significantly contribute to our revenue growth.
Based on the scopes of work being discussed with potential new customers, Ethernity expects to secure new contracts for our Carrier Ethernet and PON technology, generating approximately $2.2- $3 million in incremental non-recurring engineering (NRE) revenue in 2024 on top of our established business. This momentum positions us for significant future growth as our OEM partners leverage our solutions to win market share and generate revenue for themselves. We anticipate this will translate into substantial new revenue opportunities for Ethernity in 2025.
David Levi
Chief Executive Officer
19 April 2024
Outlook
Since the beginning of 2024, the Company appointed a highly experienced and knowledgeable VP Marketing and a talented and professional new CFO. In addition, two External Directors have joined the board, bringing deep know-how in finance, marketing, and strategy.
With a robust technology and IP foundation, a diverse portfolio of products and services, an efficient R&D structure, and recent additions of professional talent, the Company is now better positioned than ever to face the future and capitalize on the growing market opportunities.
Yosi Albagli
Chairman
So pleasing to read.
Pushing forward and getting this out to the market so soon. ENET could have held off until June but realise the significance of their work.
Well done David Levi and his team to get this RNS out, NOW on APRIL 19th 2024.
Doubters will still doubt, as is their way.
These figures show that the TSP process gave a breathing space yet a place for action.
The BOD will take the company to new levels of increased MCAP.
Yes my cup is half glass full , without doubt.
Ethernity Networks Ltd.
("Ethernity" or the "Company")
Results for the Year Ended 31 December 2023
Ethernity Networks Ltd (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, today announces its audited results for the year ended 31 December 2023.
Highlights
· FY 2023 revenue of $3.8 million represents 29% growth vs. 2022 revenues (2022: $2.9 million).
· FY 2023 cash collections from customers amounted to $4.9 million.
· Gross profit increased by 46% to $2.3 million (2022: $1.6 million).
· Operating loss decreased from $8.7 million in 2022 to $5.3 million in 2023 reflecting a decrease of 27%.
· EBITDA loss for 2023 decreased by 47% to $3.9 million (2022: $7.3 million).
· EBITDA loss for H2 2023 decreased by 74% to $0.8 million from $3.1 million in H1 2023.
· Net cash funds raised during the year amounted to $3.6 million.
· Cash at 31 December 2023 of $2 million (31 December 2022: $0.7 million)
David Levi, Chief Executive, said "During this past year, we achieved significant growth in revenue and gross margin, with a major turnaround in the second half. This success came despite facing headwinds from the global economic climate. Based on the scopes of work being discussed with potential new customers, Ethernity expects to secure new contracts for our Carrier Ethernet and PON technology, in incremental non-recurring engineering (NRE) revenue in 2024 on top of our established business. This momentum positions us for significant future growth as our OEM partners leverage our solutions to win market share and generate revenue for themselves. We anticipate this will translate into substantial new revenue opportunities for Ethernity in 2025".
Great work Tradework.
Low number of trades, and as is the way with AIM, the SP drops. Traders go wandering.
SKID
Very knowledgeable on such matters.... thanks
SKID
"Decent sales people should be $300-400k all in but are worth their weight in gold"
Did you mean these values?
$300k ..£240k
$400k ...£320k
Seems very high to me, just asking ?
SKID
Using RNSs...
Are you correct?
Etherniy Networks (AIM: ENET.L; OTCQB: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, announces that by mutual agreement, Mark Reichenberg, Chief Financial Officer, will be stepping down from the Board with effect from 31 July 2023.
The Board has commenced an internal and external search for a suitable candidate for the role of Chief Financial Officer and the Company will make a further announcement in due course. In the interim period, Ayala Deutsch, Vice President of Finance, will manage the CFO duties.
Another demo to show their wares.
https://www.fierce-network.com/wireless/look-its-tarana-tree
March 4, 2024
At Tarana, we like to say, “Seeing is believing,” and we love it when our customers put this to the test. Recently, an integrator named WISP Services decided to perform a head-to-head comparison between Tarana’s Gigabit 1 (G1) and another system we’ll refer to here as Vendor C. The goal was to determine the best coverage and throughput in a typical rural environment.
As part of the testing, they discovered that Tarana’s G1 delivered up to 10x the download performance of Vendor C’s equipment. G1 could also connect in two locations where Vendor C could not get a link.
https://www.taranawireless.com/g1-head-to-head-with-the-competition/?utm_content=289777677&utm_medium=social&utm_source=linkedin&hss_channel=lcp-371069
SKID
No 2 is a harsh on the CFO
Ethernity Networks Limited (AIM: ENET.L) (OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, is pleased to announce the appointment of Ayala Deutsch to the Board of the Company as Chief Financial Officer.
Ayala joined Ethernity in January 2019 as Vice President of Finance and has been managing the Company's CFO duties since August 2023. Ayala has more than 15 years of financial experience in international high-technology companies. Previously she was a Corporate Controller at Glide, and prior to that, an auditor at KPMG. Ayala is a Certified Public Accountant in Israel and obtained her MBA, majoring in Financial Management, at the Hebrew University in Jerusalem.
Tarana’s next G1 releases will take two new directions. First is operation in the 6 GHz unlicensed channels being opened up in the US, Canada, and soon other countries around the world. Second is the introduction of G1x2 mode, a software update that doubles the current 80MHz bandwidth of the G1 platform to 160MHz, organized as four independent 40MHz carriers — in either 5 or 6 GHz or both — to deliver up to 1.6 Gbps in aggregate for each G1 link. The Tarana team showed compelling demonstrations of G1x2 mode at its Digital Multiply launch event held today. Operation in G1x2 mode will also be an option available for currently shipping 5 GHz G1 BNs and RNs, with accommodations required for the new rate/reach metrics involved.
https://www.businesswire.com/news/home/20220927005107/en/Tarana-Announces-G1x2-Wireless-Showcasing-High-Performance-Broadband-with-Unprecedented-Economics-and-Speed
The EoY accounts and update could appear at any time.
There will be no pre RNS of date .....they will just arrive
The traders will be back in town on the forum.
They will be watching haha.
“The options will be granted once the Company is no longer in a closed period, following the publication of the Company's annual report and accounts for the year ended 31 December 2023. “
Eoy accounts were reported previously
June 30th 2023 ,
APRIL 8th 2022,
June 24th 2021...
Is ENET in closed period now ? If so when did it start?
When might we expect the EoY accounts to be published?
The sooner the better imo
What does anyone else think ?
Interesting post from Adfvn where Patt picked another relevant part of the RNS today.
Within 30 days if we are in a closed period.
RNS says
“The options will be granted once the Company is no longer in a closed period, following the publication of the Company's annual report and accounts for the year ended 31 December 2023. “
“Closed period
Under Article 19(11) of the UK Market Abuse Regulation (UK MAR), the period of 30 calendar days before the announcement of an interim financial report or a year-end report that an issuer is obliged to make public according to the rules of the trading venue where the issuer's shares are admitted to trading or the law of the United Kingdom, during which a person discharging managerial responsibilities of an issuer is prohibited from conducting any transactions on its own account or for the account of a third party, directly or indirectly, relating to the shares or debt instruments of the issuer or to derivatives or other financial instruments linked to them.”
So….finally we should have accounts out early and not have to wait till end June snd we will have news and a full update.
Good thinking Patt.