Last checked at 17 Apr 2023 07:00
LEI: 213800FLQUB9J289RU66
17 April 2023
BATM Advanced Communications Limited
("BATM" or "the Group")
Edgility rollout progressing ahead of schedule
Acceleration of first enterprise deployment and on track for significant FY growth in Edgility revenue
BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, is pleased to announce that the first enterprise deployment of its Edgility edge computing and virtual networking solution is ahead of schedule.
The Group commenced the rollout of Edgility for CEMEX, S.A.B, (NYSE: CX), a leading global construction materials company and the Group's first enterprise customer for Edgility, last year with deployment scheduled to complete in 2024. Following the success to date, with CEMEX's sites throughout a European country having already gone live with the new system, the customer has expedited the global rollout and is now targeting completion this year, thereby accelerating the Group's revenue recognition under this contract.
Alongside this, the Group continues to make excellent progress under its contract with CityFibre, the UK's largest independent carrier-neutral Full Fibre platform, that was signed in October 2022. This includes the customer adopting the Group's latest release of its Edgility platform, which has been expanded to include integrated network functions. Launched to the market earlier this month, the enhanced platform has built-in connectivity functionality that includes virtual Next Generation Firewall (vNGFW) and virtual Router, which is designed to reduce costs for customers compared with bundling devices with external virtual functions as well as to simplify deployment.
The Group expects to receive further orders from CityFibre to enable the rollout of a virtualised solution, which is to replace hardware-based customer premise routing equipment, throughout CityFibre's network.
Moti Nagar, Chief Executive Officer of BATM, said: "We are very excited by the progress that has been made with Edgility. As our customers experience the benefits of our solution, they are looking to accelerate its rollout as well as begin to explore other use cases. The deployment with CEMEX has been very successful and is ahead of schedule while our partnership with CityFibre has resulted in customer-led innovation to launch the latest, enhanced version of our platform. Alongside this, we have continued to earn revenue through our integration partners and are in advanced discussions to expand our Edgility customer base. As a result, our revenue from Edgility in the first quarter of 2023 almost equalled that generated for the whole of 2022, and we remain on track for significant growth in our sales of Edgility this year."
Enquiries:
BATM Advanced Communications | |
Moti Nagar, Chief Executive Officer | +972 9866 2525 |
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Shore Capital | |
Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory) | +44 20 7408 4050 |
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Gracechurch Group | |
Harry Chathli, Claire Norbury | +44 20 4582 3500 |
Forward-looking statements
This document contains forward-looking statements. Those statements reflect the current opinions, evaluations and estimations of the Group's management, and are based on the current data regarding the Group's business as is detailed in this document and in the Group's periodical, interim and immediate reports. The Group does not undertake any obligation or make any representation that actual results and events will be in line with those statements, and stresses that they may differ materially from those statements, due to changes in the Group's business, market, competition, demand for the Group's products or services, general economic factors or other factors that can influence the Group's business and results, due to the risk factors that are detailed in the Group's Annual Report, and due to information and factors that are currently unknown to the Group's management and that, if known, would affect the management's opinions, evaluations or estimations. The Group will report the actual results and events according to its legal, accounting and regulatory obligations, and does not undertake any other obligation to report them or their deviations from the forward-looking statements, or to update any of the forward-looking statements in this document or to report that it is not valid anymore.