Tickers: XCNQ:NUR, PINX:NRRWF
Tags: Technology, Telecommunications
Quebec, QC / TheNewswire / February 27, 2018 - NuRAN Wireless Inc. ("NuRAN Wireless" or the "Company") (CSE: NUR) (OTC: NRRWF) (FRA: 1RN), a leading supplier of mobile and broadband wireless solutions to connect the next billion, is pleased to announce its audited financial results for the twelve months ended October 31, 2017. All dollar amounts are expressed in Canadian currency.
NuRAN Wireless Inc.
NuRAN introduced the GSM LiteCell 1.5, the world's most affordable, lowest power consumption, and easiest to deploy GSM-EDGE Micro-BTS in Q2 2016. Specifically designed to reach the next billion mobile subscribers, the GSM LiteCell opens a whole new world of possibilities for low density, low income, and remote populations. The GSM LiteCell is a hand-carried, tower-mounted base station. It does not require any machinery to install, nor any kind of shelter to protect it. The all IP interface makes the GSM LiteCell easy to connect to any IP-based terrestrial or satellite backhaul. The base station's ultra-low power consumption also minimizes the CAPEX associated with solar panels and batteries. When combined with NuRAN's NuBSC and LiteSat, the LiteCell 1.5 achieves industry leading bandwidth optimization, thereby keeping the OPEX of satellite-backhauled sites to an absolute minimum. The LiteCell 1.5 is NuRAN's second generation of GSM base station. Its high reliability is based upon a proven track record with thousands of units of its previous generation already deployed in all parts of the world and enduring the harshest of conditions. NuRAN expects to announce significant contracts throughout 2018.
NuRAN, Facebook and The Telecom Infra Project:
NuRAN has been working directly with Facebook in developing the first generation of Open Cellular products which were launched in Q4. NuRAN has devoted considerable time and resources to this initiative during 2017 as a result of the importance of the Facebook lead Telecom Infra Project ("TIP"). The Telecom Infra Project is an open source hardware consortium headed by Facebook focusing on optical broadband networks and open cellular networks.
OC-LTE is a carrier-grade 4G LTE base station capable of being powered by solar, and designed to bring affordable mobile broadband connectivity in both rural and remote areas and was designed by NuRAN and Cavium (NASDAQ:CAVM).
NuRAN Wireless started shipping pre-production units of OC-LTE. The majority of units will be integrated and operated within mobile operators' networks, including tier-one operators in Africa, South America and South-East Asia. Successful qualification by the operators is expected to lead to deployments representing several thousands of units.
NuRAN, the Blockchain and Mobile Payments/Banking:
NuRAN also recently announced that it enabled blockchain mobile transactions through its LiteCell 1.5 base station for those without bank accounts, empowering them to access the digital economy and all the social and economic benefits that come with it.
The first such transaction was performed in a remote Nigerian village recently connected to the digital world using NuRAN Wireless mobile infrastructure equipment. This site was installed and is operated by Raeanna Nigeria Limited in collaboration with a tier-one operator. This type of transaction can be replicated anywhere else in the world where a NuRAN base station is installed.
Approximately 2 billion people worldwide and roughly 59% of adults in the developing world don't have a bank account. In some countries, cash transactions represent up to 95% of all transactions. However, a large number of these unbanked people possess a cell phone which provides them with the perfect solution to the lack of security and convenience of cash transactions. The absence of mobile infrastructure remains the major issue with over 1 Billion people with no cellular connectivity. Mobile Banking and Mobile Payments is a critical aspect of the urgent need to bring connectivity to the unconnected.
Nutaq Innovations Inc. (a wholly owned subsidiary of NuRAN):
Nutaq Innovations ("Nutaq") is a wholly owned subsidiary of NuRAN Wireless and serves as its technology development. Nutaq is a leading provider of advanced digital signal processing ("DSP") solutions and wireless technologies, including software defined radios ("SDR"). The Company also provides Engineering Services for worldwide leading companies including Viettel, NASA and Nokia.
Nutaq also focuses on testbed and lab equipment for 4G LTE-A, IoT and 5G Massive MIMO. In February 2017, Nutaq also successfully filed a 5G International Process Patent Application.
Nutaq also announced a joint demonstration leveraging the Nutaq LTE-M standalone network to enable partner's devices to be showcased at Mobile World Congress 2018 beginning on February 26th. The partner will demonstrate its self-powered M-IoT sensors based on the u-blox (UBXN:SWX) SARA-N2 (NB-IoT) and SARA-R4 (Cat M1) modules and transmit the data through an LTE-M private network established by Nutaq's flagship test and measurement equipment, the PicoLTE.
This demonstration perfectly illustrates how Nutaq and the u-blox solutions combined can speed up the development and validation of Internet of Things (IoT) devices by enabling testing directly in the developers' lab. The Nutaq PicoLTE implements a complete LTE-M & NB-IoT network, while the u-blox modules, application boards, and developers tools facilitate device prototyping thus providing a complete ecosystem for developers to test the devices behavior under specific network conditions such as with power saving and coverage enhancement modes. Nutaq continues to maintain its leading edge wireless innovation by partnering and collaborating with Tier One technological leaders throughout the world and through the development of leading edge intellectual property.
Some Highlights from the past 14 months Include;
- NuRAN Wireless Receives Over $1 Million in New Engineering Contracts
- NuRAN Successfully Files 5G International Process Patent Application
- NuRAN Wireless Receives an Over $1M Order for Africa
- NuRAN Wireless Selected for Initial Deployment of 5 Sites in Nigeria
- NuRAN Showcases OpenCellular Prototype at Mobile World Congress, Retained by Facebook as Development Partner For Upcoming LTE
- NuRAN Launches Facebook's Community Cellular Manager (CCM) Software for its LiteCell Base Station
- NuRAN Wireless Selected by Globe Telecom for Rural Mobile Deployment
- NuRAN Wireless Receives a $1.254M Order for Nigeria, Africa
- NuRAN Wireless Announces Joint Collaboration for a 5G Base Station with Viettel
- NuRAN Wireless Selected for Rural Connectivity Project in Mexico
- NuRAN Wireless Receives a $4M Order for Deployment in Africa for a Tier-One Operator
- NuRAN Selected by NASA to Supply SDR and Corporate Update
- NuRAN Introduces OC-2G: A New TIP OpenCellular Product
- NuRAN Selected by US Navy Air Systems Command (NAVAIR) to Supply SDR
- Raeanna Group Committed to Deploy over 1000 Sites in Nigeria using NuRAN's GSM Solution
- NuRAN Wireless to Host a Symposium on 5G Research
- NuRAN Wireless Receives a Second Order from NASA for its SDRs
- NuRAN Wireless and u-blox Collaborate on NB-IoT Demo for Mobile World Congress Americas
- NuRAN Receives Orders of over $1 Million, Including Initial Delivery of 4G LTE Products
- NuRAN Announces the Commercial Availability of the Telecom Infra Project's OpenCellular OC-2G Base Station
- NuRAN Ships First OC-LTE Base Stations to Multiple Tier-1 Operators Worldwide
- NuRAN Enables its First Mobile Blockchain Transaction for the Billions of Unbanked
- NuRAN Selected with Google, Nokia, Ericsson to be Featured at MWC by GSMA
- NuRAN (Nutaq) and BeWhere Join Forces to Present an IoT Demo at Mobile World Congress 2018
Highlights of the Company's financial results for the three and twelve month periods ended October 31, 2017 included the following:
Q4 Three Months Ended October 31, 2017 Result Highlights
- Revenue of $1,780,117 compared to $960,047 for the three months ended October 31, 2016; an increase of $820,070 or 85.4%.
- Positive EBITDA of $14,093, a second consecutive positive EBITDA quarter; and a positive adjusted EBITDA of $430,430;
- Gross margin of 31.9% compared to 20.9% for the three months period ended October 2016, an improvement attributed to higher sales and an increase in engineering services revenues;
- Gross Profit of $568,771 compared to $200,565 for the three months ended October 31, 2016;
- Net loss of $253,864 compared to $1,915,735 for the three months ended October 31, 2016.
Twelve Months Ended October 31, 2017 Result Highlights
- Revenue of $6,019,133 compared to $5,123,470 for the twelve months ended October 31, 2016; an increase of $895,663 or 17.5%;
- Overall Gross margin remained relatively stable at 47.52% compared to 47.3% for the twelve months period ended October 31, 2016;
- Gross Profit of $2,860,473 compared to a Gross Profit of $2,425,347 for the twelve months ended October 31, 2016; an increase of $435,126 or 17.9%;
- Net loss of $2,003,725 compared to a net loss of $3,195,686 for the twelve months ended October 31, 2016.
"2017 was a highly strategic year for NuRAN Wireless and our wholly owned subsidiary Nutaq Innovations. We have been working diligently on key partnerships and collaborations with top tier companies in the world including Facebook, Cavium, Keysight, Africa Mobile Network, u-blox and Globe Telecom to name a few. Bringing connectivity is no longer just a pressing social need but a matter of economic urgency for the many countries around the world which still have little to no mobile connectivity. In addition to this, the advent of mobile banking and mobile payments adds another crucial element to the equation further necessitating the need to get the over 1 Billion plus connected as soon as possible. Global Telco's are under increasing pressure from their respective governments to bring connectivity especially now that the economics make sense. NuRAN is extremely well positioned to translate all of our joint efforts with our Tier One partners into significant revenue and profitability for the years to come." states Martin Bedard, CEO of NuRAN Wireless Inc.
Non-GAAP Measures
This Press Release contains references to Adjusted EBITDA and Gross margin. These financial measures are not measures that have any standardized meaning prescribed by IFRS and are therefore referred to as non-GAAP measures. The non-GAAP measures used by the corporation may not be comparable to similar measures used by other companies. Adjusted EBITDA is defined as "income (loss) before interest expenses, taxes, expenses related to listing on the Canadian Securities Exchange, depreciation, foreign exchange and financial expenses.
The Company uses these non-GAAP measures because they provide additional information on the performance of its commercial operations. Such tools are frequently used in the business world to analyze and compare the performance of businesses; however, the Company's definition of these metrics may differ from those of other businesses.
About NuRAN Wireless
NuRAN Wireless is a leading supplier of mobile and broadband wireless infrastructure solutions. Its innovative radio access network (RAN), core network, and backhaul products dramatically drop the total cost of ownership, thereby creating new opportunities for established, as well as emerging mobile network operators. Indoor coverage, isolated rural communities, offshore platforms and ships, NuRAN Wireless helps its customers reach everyone, everywhere.
Nutaq Innovations is a wholly owned subsidiary of NuRAN Wireless. Nutaq is a leading provider of advanced digital signal processing ("DSP") solutions and wireless technologies, including software defined radios ("SDR"). The Company operates three complementary lines of business; Wireless Network Products, Advanced Development Platforms ("ADP") and Engineering Services.
For further information about NuRAN Wireless or Nutaq Innovations;
www.nuranwireless.com or www.nutaq.com
Martin Bedard
President and CEO
Tel: (418) 914-7484 Fax: (418) 914-9477
Toll Free: 1-855-914-7484 Email: info@nuranwireless.com ; info@nutaq.com
Direct Financial Strategies and Communication
Frank Candido
Tel: (514) 969-5530 Email: frank.candido@nuranwireless.com
No regulatory authority has approved or disapproved the information contained in this news release.
Forward Looking Statements
This press release contains forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of NuRAN Wireless to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Examples of such statements include: the intention to expand the business and operations of NuRAN Wireless and its product line, the completion of the Offering on the above terms and the use of proceeds. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Such forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to: the ability of NuRAN Wireless to obtain necessary approvals for and to complete the Offering; general economic conditions in Canada and globally; competition for, among other things, capital and skilled personnel; our ability to hire and retain qualified employees and key management personnel; possibility that government policies or laws may change; possible disruptive effects of organizational or personnel changes; technological change, new products and standards; risks related to acquisitions and international expansion; reliance on large customers; reliance on a limited number of suppliers; risks related to the Corporation's competition; and the Corporation's failure to adequately protect its intellectual property; interruption or failure of information technology systems and other risk factors described in the Corporation's reports filed on SEDAR (www.sedar.com), including its financial statements for the year ended October 31, 2017, and those referred to under the heading "Risk Factors". These forward-looking statements should not be relied upon as representing NuRAN Wireless' views as of any date subsequent to the date of this press release.
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