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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.
Airspan Networks Inc. (MIMO) reported strong financial results for Q2 2021, with revenue reaching $42.0 million, up 51% compared to Q2 2020. First half revenue totaled $88.0 million, marking a 59% increase year-over-year. Gross profit for Q2 also rose 31% to $19.2 million, and adjusted EBITDA losses improved by 25% to $5.4 million. Despite a recurring net loss of $10.4 million, management expressed optimism about the company's growth trajectory, particularly in the expanding 5G market.
Airspan Networks Inc. has successfully merged with New Beginnings Acquisition Corp. (NBA), approved by NBA shareholders on August 11, 2021. The newly formed company, now named Airspan Networks Holdings Inc., begins trading on NYSE American under the ticker symbol 'MIMO'. CEO Eric Stonestrom highlighted this merger as a pivotal moment, aligning with their growth strategy in the anticipated 5G capex supercycle. The transaction is expected to enhance Airspan's revenue growth and expand its product portfolio, particularly in 5G sectors.