Wavelo signs three new customers on the heels of 2023 revenue of $38.7 million
- Wavelo signs three new customers: CFaith, DayStarr, and Truespeed.
- The company reported unaudited revenue of $38.7 million USD, $36 million USD in gross margin, and over $10 million USD in adjusted EBITDA for fiscal 2023.
- Wavelo has achieved over a 50% compound annual growth rate in revenues over the last two years.
- The company's CEO, Justin Reilly, will be presenting at Mobile World Congress (MWC) Barcelona.
- Wavelo is a subsidiary of Tucows Inc. (NASDAQ: TCX, TSX: TC).
- None.
Wavelo's recent announcement of signing three new customers—CFaith, DayStarr and Truespeed—signals a positive trajectory in its business development, particularly within the telecommunications sector. The addition of these clients to its roster is indicative of the company's growing influence and the efficacy of its software solutions in automating billing and provisioning for CSPs.
The company's reported financials, including a 50 percent compound annual growth rate in revenues over the last two years, stand out in a B2B SaaS landscape where growth rates for many competitors have declined. This is a strong indicator of Wavelo's market position and the scalability of its offerings. Such performance metrics are critical for investors evaluating the company's potential for sustained growth and profitability.
From a financial perspective, Wavelo's unaudited fiscal results for 2023, with $38.7 million in revenue, a $36 million gross margin and over $10 million in adjusted EBITDA, reflect a robust financial health. These figures, particularly the adjusted EBITDA, suggest effective cost management and potential for reinvestment into the company's growth initiatives. Investors and stakeholders should consider these financials as they may impact Tucows Inc.'s stock valuation, given Wavelo's status as a subsidiary.
The emphasis on Wavelo's modular tech stack and its deployment speed, which surpasses industry standards, showcases the company's commitment to innovation and customer adaptability. This technological edge is crucial in the CSP industry, where the ability to quickly roll out and update services can be a significant competitive advantage. The company's approach, including its event-driven architecture, is likely to resonate with CSPs looking for agile and cost-effective solutions.
Furthermore, Wavelo's case study with DISH Wireless and recent industry awards contribute to its reputation as an innovative player in the telecom software space. The upcoming presentation at Mobile World Congress by CEO Justin Reilly could further solidify the company's thought leadership and influence within the industry.
Modern software provider automating billing and provisioning for telecommunications customers worldwide
Launched in January 2022, Wavelo launched with DISH Wireless and Ting Internet as anchor customers and has been building an irrefutable track record of success with CSPs ever since. The company's goal is clear: to help its customers achieve growth, reduce operational costs and improve time-to-market for products and services by introducing modern and flexible software.
"Our products were specifically designed to help telecom operators achieve their business goals, find more value, and find it quickly," explained Neil Shah, Chief Product Officer, Wavelo. "We've invested in a modular tech stack that deploys significantly faster than industry standard and have done so at a subscriber-based cost that suits operators of every size. So whether a customer is using a specific Wavelo product or a full platform integration, we can help optimize their billing, provisioning and service operations."
By automating mobile and internet billing and provisioning, Wavelo's customers can focus their energy and resources away from constant technological upgrades and instead on providing a great experience for their subscribers.
CFaith, DayStarr and Truespeed are the newest additions to Wavelo's impressive client roster, which includes CSP companies and enterprises of every size.
"DayStarr selected Wavelo to reimagine the way we interact with our customer billing and subscription management," said Collin Rose, President, DayStarr. "We value their thoughtful and modern approach through their event driven architecture. We are grateful for our new partnership."
Most recently Wavelo released a new case study on its partnership with DISH Wireless. The company was also just awarded three Best in Biz awards, notably including "Bronze in Fastest-Growing Company of the Year - Medium" and "Bronze in Most Innovative Company of the Year - Medium."
As part of its fiscal 2023 results, Wavelo reported unaudited
On February 28, 2024 Wavelo's CEO, Justin Reilly, will be presenting "The Telecom Stack of the Future" at Mobile World Congress (MWC)
Wavelo is a subsidiary of Tucows Inc. (NASDAQ: TCX, TSX: TC). To learn more about Wavelo, its mission and full software suite, please visit wavelo.com.
Wavelo, a division of Tucows (NASDAQ: TCX, TSX: TC), is a modern, cloud-based platform designed to radically simplify OSS/BSS technology management and improve internet access worldwide. Serving communication service providers globally, Wavelo offers a suite of flexible software to enable mobile and internet access, provisioning, billing, subscriptions, and more. Connecting disparate business and operational systems and seamlessly integrating into operators' existing infrastructure, Wavelo enables operators to keep pace with network innovation and focus on providing a superior customer experience. Learn more at wavelo.com.
Tucows helps connect more people to the benefit of internet access through communications service technology, domain services, and fiber-optic internet infrastructure. Ting (https://ting.com) delivers fixed fiber Internet access with outstanding customer support. Wavelo (https://wavelo.com) is a telecommunications software suite for service providers that simplifies the management of mobile and internet network access; provisioning, billing and subscription; developer tools; and more. Tucows Domains (https://tucowsdomains.com) manages approximately 25 million domain names and millions of value-added services through a global reseller network of over 35,000 web hosts and ISPs. Hover (https://hover.com) makes it easy for individuals and small businesses to manage their domain names and email addresses. More information can be found on Tucows' corporate website (https://tucows.com).
Tucows, Ting, Wavelo, and Hover are registered trademarks of Tucows Inc. or its subsidiaries.
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SOURCE Tucows Inc.
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