Not long to the LIFT UP19 Jul 2024 06:18
Remembering this for the NEW Tier 1 customer Jun 28th 2024 RNS
"The implementation of the project and tight collaboration with the Customer for the development of their product, which is based on the ENET Data Flow Processor, is conditional on approval from the U.S. Government, as is customary for U.S. Aerospace projects. This approval is estimated to be granted no later than August 2024. An equivalent approval was previously granted to a different US Aerospace customer of Ethernity"
" Value: $1.05 million total license fees, with majority of delivery expected to be completed during H2 2024"
We are pleased to report continued revenue growth in 2023 from our U.S. fixed wireless broadband solution customer. Furthermore, we are actively engaged in the development of a second-generation product for this customer. This development effort is ongoing in 2024, and we have been advised that the customer anticipates placing new orders for both the first and second generation products throughout the second half of 2024. The customer's rollout ramp-up plan for the second-generation product is scheduled to take place during 2025. We ended 2023 with two significant contract wins from existing customers:
April 19th 2024 RNS
"Tier-1 U.S. Aerospace and Defence Company: Following government approval, this longstanding customer signed a $475,000 contract extension to leverage Ethernity's technology on a critical military project. We are committed to supporting them throughout 2024 with ongoing paid maintenance and support.
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."
AGM August 28th 9am UK time
Happy investing
Expect news to the lead up.