Half Yearly Report and Accounts
Sydney, Aug 23, 2022 AEST (ABN Newswire) - Etherstack Plc (ASX:ESK) present the interim condensed consolidated financial report of Etherstack plc and its controlled entities for the half year ended 30 June 2022.
All amounts are in thousands of USD, unless otherwise specified.
- Revenue growth: revenue is $4,857 up 13% on the prior corresponding period ("pcp"), driven by increased project revenues
- EBITDA growth: EBITDA is $2,216 up 53% over the pcp
- Statutory net profit after tax growth: Statutory net profit after tax is $1,654 an increase of 107% over the pcp
- Significant progress made on major projects: the Group has delivered the scheduled milestones on the LMR-IWF deployment with Samsung for the AT&T Firstnet project and the scheduled milestones on the Australian Department of Defence project announced in December 2020.
- Significant product developments launched: in the half year the Group launched 2 major intellectual property developments:
- NATO NBWF (Narrowband Waveform) standard waveform software implementation, framework and simulation tools for use by NATO member nations
- Carrier grade MCX IWF (Mission Critical Push-To-Talk InterWorking Function)
- Strategic business development: in the half year, and up to the date of this report, the Group:
o Received two further contracts totalling AUD $1.8m with a major iron ore producer in Western Australia
o Continued to pursue and develop opportunities for our MCX IWF product in conjunction with Samsung
o Continued to pursue and develop opportunities within the Australian defence sector
David Deacon, Etherstack's Chief Executive Officer, commented: "This half has been a strong half with really pleasing progress on our major projects which has translated into strong financial results. At the same time, we have announced major product launches and key strategic business developments. These are the building blocks positioning Etherstack for a bright future"
*To view the full report, please visit:
About Etherstack Plc
Etherstack (ASX:ESK) is the world's leading licensor of wireless technologies for the digital LMR industry and the Company develops wireless products for the main digital radio communications standards known as APCO P25, TETRA and DMR. Over the past 25 years, over twenty wireless equipment manufacturers have licensed LMR technologies from Etherstack for use in their products.
MCPTT over LTE is an emerging cellular standard that provides public safety grade PTT (Push-To-Talk) solutions within 4G and 5G cellular networks. Demand for MCPTT services and equipment by telecommunications carriers and end user agencies has been steadily growing in the past few years and is expected to rise rapidly over the next 36-48 months.