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Airspan Networks Holdings Inc. develops wireless network software and hardware for 5G, Open RAN, private networks, fixed wireless access, air-to-ground connectivity, neutral host networks and utility communications. Company news centers on radio unit deployments, small-cell products, virtualized RAN radios, private-network projects and partnerships with mobile, infrastructure, maritime, smart-city and utility customers.
Recurring updates also cover operating results, capital-structure actions, governance matters and corporate-status developments, including the NYSE American trading suspension and delisting proceedings. Historical business updates include the completed sale of Mimosa Networks Inc. and reports on how Airspan technology is used in cloud-native mobile networks, industrial connectivity and wide-area private wireless deployments.
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Airspan Networks Holdings Inc. (NYSE American: MIMO) disclosed in its Annual Report on Form 10-K for the year ended December 31, 2022, that its audited financial statements contained a going concern emphasis of matter paragraph from its independent auditor. This notification is compliant with NYSE American Company Guide Section 610(b). The announcement does not alter the Company’s consolidated financial statements or the Annual Report. Airspan is focused on innovative software and hardware for 5G networks and has shipped over one million cells to customers across more than 100 countries.
Airspan Networks Holdings Inc. (NYSE American: MIMO) reported its financial results for the full year and fourth quarter ending December 31, 2022.
Fourth quarter revenue stood at $41.7 million, marking a 1% increase sequentially but a 17% decrease year-over-year. The gross margin improved to 46.1% from 39.8% in the previous quarter. Net loss narrowed to $11.3 million, down from $23.3 million in Q3 2022.
For the full year, revenues totaled $167.3 million, a 6% decline from 2021, with a net loss of $85.4 million, compared to $70.5 million in the previous year.
Airspan Networks Holdings Inc. (NYSE American: MIMO) reported unaudited revenue of $167.3 million for FY22 and $41.7 million for 4Q22, with a gross profit of $66.4 million (39.7% margin). The company also announced the divestment of its Mimosa subsidiary, which generated approximately $25 million in revenues for 2022. Following this strategic move, Airspan aims to focus on 4G/5G networks and considers several options to enhance shareholder value, having engaged PJT Partners for this purpose. Caution is advised as these results are preliminary and subject to adjustments before the annual 10-K filing.