Key highlights
-- Revenue of US$9.681 m representing a 14% increase over FY2021
-- FY2022 EBITDA increased 33% over FY2021 to US$3.468 m
-- FY2022 NPAT of US$2.193 m vs FY2021 of US$1.455 m – a 51% increase
-- The business continued to deliver key contract wins and follow on
orders, including:
---- a 5 year extension to the Samsung Global Teaming Agreement for Samsung to exploit our MCX IWF product
---- an initial contract with Nokia for Etherstack’s MCX IWF technology
---- follow-on orders from the Australian & UK Governments; and
---- follow-on orders for Rio Tinto LMR network projects
-- Successful launch of our 3GPP standards based MCX IWF telco carrier product for 4G & 5G networks
Etherstack plc (ASX:ESK) ("Etherstack" or the "Company") is pleased to present the Appendix 4E (Preliminary final report) for the year ended 31 December 2022.
David Deacon, Etherstack CEO noted, “2022 was a very strong year for the business. Revenue grew 14% following an 81% increase in 2021. A significant increase in profitability was achieved in FY 22 with 14% revenue growth driving EBITDA growth of 33% and Statutory profit after tax growth of 51%.
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