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Revenue will flow through the OEMs and integrators using Ethernity products. The go to market strategy with TietoEVRY and FiberHome are separate opportunities. Sales will certainly be now. Starting small but will build quickly. Mass deployment will be starting now. Sales will come. Ethernity has leading products. The market is immature but it will develop quickly.

Kitlow this will be different. Ethernity are selling mainly through third parties. Until those third parties are engaged in mass deployment we won't see sales. What we will see in Asia is 5G and hotpots. Maybe private or Telecom field trials. Maybe a town, maybe a factory. When the third parties buy they buy and pay. Certainly Techtronics pay before their client. This is raw sale of cards. Code and virtual solutions will be ongoing royalties and design payments. However in some cases Ethernity may release that license in exchange for payment.

The rate of deployment is the big unknown even more so than the income. If Ethernity weren't in full sprint now I would be concerned. Now is the start and Ethernity has to grab business now. The flip side is that costs initial investment in adaption and trials. Whilst Ethernity make income from design wins they also invest in the relationship which is a human and often tech investment.
I believe income and costs will rise substantially this year. I believe that income will overtake cost of sales in H2 but it will be close. One chunky engagement payment and they will be well clear in paper profit.
I am sure that this board would be critical if David sat back waiting for business to come to him. The market is huge but very specific. Ethernity has quite rightly chosen to be the best in a niche and to make it theirs. The downside is that we have to wait for that niche to become todays problem. Now it is and integrators are climbing all over it. We can expect sales really from now as the leaders commit to mass deployment.

Ethernity did not repeat the cash positive but instead used an actual figure for income. They said that delivery and income will commence Q1. The various trials will be costing chunky cash as will the development of the DU solution. Even the cost of fpga and components are significant to a micro cap like Ethernity.
We can expect substantial engagement payments once the DU is completed and the server vendors commit to mass production.
The Southeast Asian National Telecom using ACEnic-100 in their solution will no doubt make substantial milestone payments and then fees and royalties for the cards and virtual router.
I guess that the costs are harder to pin down than the income.
I suspect that £5m H2 is likely

Tide is out and now you can see the shopping trollies and old bikes rotting in the sand. Not my view but the market condition. Soon a new tide arrives to lift the price.

33.39 to buy.

Nothing from my contacts for a couple of weeks now. I am in Israel. I am avoiding covid restrictions but so far I have achieved 3 mandatory quarantines in 3 Countries after about 4500NM under diesel. I will sit tight here now. Summer is coming and I have 7 days more before I can step ashore. Until then I will relax a bit.

As I have posted previously I get from time to time contact by PM on this site.
I have received two in the last week which were not so different. The first about why would anyone pick Ethernity over the rest given that the others are valued much higher (I think that this is not the share but the product). The second question is about what makes Ethernity different from the others.
Both answers are similar. There are many SmartNIC and NIC providers. However isolating the SmartNIC providers drops about 60% straight off. Many SmartNICs are not actually that smart. In fact they are shells with fpga (often) onboard that can once functionality is added be viable solutions. Ethernity can add that functionality to any fpga on any SmartNIC. So how many SmartNIC are actually smart. I don't know but certainly the minority. Of those they are formated for many tasks and several target audiences from the data centre to the RU.
This is where the difference is. Ethernity are Telco focused (almost unique) they have many years experience with Telco and have mature products. The products are focused on reducing costs whilst at least matching the performance of a ASICs counterpart.
Ethernity are unencumbered. They are not aligned to a parent company or a specific alliance. They float freely in the market able to trade east and west. In a Politically stable an largely neutral environment. They can buy tech anywhere and are not tied by a parent product line.
Deploying Ethernity saves from 30-80% of any equivalent product from an encumbered supplier. Ethernity are free to partner and alliance at will.
I believe that currently Ethernity are engaged with multiple clients globally. Specifically in China I believe that Ethernity UPF will be approved by the 3 major Chinese Telecom. Then integrators (or the Telecom) will buy Ethernity products to form part of their end to end solutions.
I believe that the SE Asian OEM in testing with their product will achieve local sales and Ethernity will supply the cards and some code.
I believe that Ethernity will enter production agreements with 3 server vendors for the DU product globally but especially in Europe and the US.
I believe that Ethernity are currently engaging multiple integrators to vend into their contracts.
Partnering TietoEVRY and FiberHome I believe that they are engaging larger consumers who seek ebd to end solutions and almost ASICs type services.
Just my thoughts. This clearly takes some pocket change.

Given the trigger price and the agreement to release early I suspect disclosure and market updates were discussed. The share price needs to be stable through this process.

Cambridge "contract" what contract. You don't understand how this works. Ethernity retail not contract. There will be sales but no contracts.
OpenRAN is about selecting the best products this is a ever changing environment. The sales will fliw through OEMs and integrators once those OEMs and integrators win contracts.
Even the DU with server vendors will be subject to the vendors winning contracts. This is OpenRAN you have to understand the fundamentals or just look silly. You achieved one thing today Cambridge.

Epson it doesn't work like that in the tech sector. This is exactly how it works. Ethernity are small and has to be agile.
It is very positive that the surge has begun. If you need to assess the details yourself then you will be disappointed.

This has nothing to do with trading though as the trading was disclosed on 2nd December and Q1 has 4 weeks remaining.
They expected a huge demand for their product. That costs development. They funded with flexibility because they weren't certain of exact timing. They are now drawing down because of progress.
This is the type of business where engagement and initial development costs money. We can now assume that they are experiencing huge demand requiring additional expense.

An update to say what?
This is not a sector that ever announces application development. They have clearly stated that they are in trials with UPF, the DU is under development with 3 server vendors and OEM are in trials with multiple service providers.
They definitely can't say more than that at this stage.

Ethernity has to be in it to win it and that takes development costs. If they are accelerating funding then it is to meet demand for product. The market for Ethernity is switching on as predicted and we can expect huge growth this year from engagements.

Steve I believe so. It will be gas down in a land grab from here in. Income will come from Integrators and OEMs.

"given the recent progress by Ethernity in executing its growth plans,"
I guess that they are experiencing a surge in development contracts. Certainly now will be the time that this will happen.
I suspect that this is about the investment in the DU development and implementation.

"Sterlite Technologies: STL appoints Chris Rice as CEO for its new OpenRAN, 5G biz, Telecom News, ET Telecom" https://telecom.economictimes.indiatimes.com/amp/news/sterlite-technologies-spins-off-new-openran-5g-focused-access-solutions-business-unit/81291983

Systems integrators will become hot property this year. These are exactly Ethernity target clients. Integrators will buy Ethernity products to build the network from.

Seeing Ethernity ad pop up on my newsfeed for the first time is significant in my opinion. I am in Israel now, I assume that it is not limited to Israel. The company disclosed a government contribution towards promoting in China so we can expect that to be well underway.

Bid the point is that those in the sector have much broader portfolios much of which is in current markets. Ethernity was listed to meet a very specific market which is maturing this year. Pointless being frustrated by a opportunity not yet presented. The jury is not out the case is just starting.

I think that you are missing the point and have lost sight of the sector Ethernity are in. They will sell nothing until the user needs the product. The quicker you realise that the quicker you will stop feeling frustrated