Airspan Networks reported revenue of $46.9 million for the second quarter ended June 30, 2022, up 25% sequentially from first quarter 2022, and up 12% year-over-year. Gross margin was 40.1% compared to 32.1% in first quarter 2022, and 45.7% in second quarter 2021. There was a net loss of $21.0 million, compared to a net loss of $29.7 million in first quarter 2022, and a net loss of $10.4 million for second quarter 2021.
“We continue to execute our growth plan and see healthy demand for our innovative products and solutions,” said Airspan Chairman and Chief Executive Officer Eric Stonestrom. “Furthermore, we are encouraged by concrete government action on the CHIPS Act, which currently allocates $1.5B for Open RAN technology development, an area of Airspan focus and differentiation. However, the supply chain environment continues to impact sales and margin as seen in the near-term outlook.”
“Four of our largest customers signed new purchase orders during the quarter. We continue to see growing demand in the core markets we serve, namely mobile networks, private networks and fixed wireless,” said Airspan President and Chief Operating Officer Glenn Laxdal.
Some highlights:
- Strong performance in a challenging supply chain environment.
- Continued momentum in private network deployments:
- Added over 60 Private 4G/5G Networks in second quarter 2022 bringing the total number of Private Networks design wins to more than 300.
- Signed Global Purchase Agreements with two additional web scale cloud providers.
- Signed agreement with a leading global Private Networks managed service provider.
- New milestone reached with a Tier 1 US Cable MSO with a Purchase Order in second quarter 2022, and a significant deployment throughout 2022.
- Airspan Networks Named Winner of Three Small Cell Forum Innovation Awards, Demonstrating Solution Scalability for Both Public and Private Networks. Fifth year in a row Airspan has been honored by the Forum (link).
- Demonstrated a fiber equivalent 4+ Gbps Fixed Wireless Access point to multi-point connection speed with one of Asia’s largest carriers and made substantial inroads with US Rural Digital Opportunity Fund recipients.