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COMSovereign Holding Corp. (NASDAQ: COMS and COMSP) is a leading developer of advanced telecommunications solutions, catering to telecom network operators, mobile device carriers, and various enterprises worldwide. The company specializes in designing, manufacturing, and selling microwave packet radio equipment. Their products, such as backhaul telecom radios, enable service providers, government agencies, and enterprises to meet rising bandwidth demands efficiently and cost-effectively. These radios facilitate broadband voice, video, and data transmission.
COMSovereign also offers cutting-edge in-band full-duplex and transpositional modulation technologies designed to overcome the performance limitations of conventional transmission technologies. Their portfolio extends to intelligent batteries and backup power solutions, which are crucial for cellular towers, radio access network infrastructures, and various vehicles, including automotive, aerospace, and marine.
The company's commitment to innovation is evident in their development and sale of tethered drones and aerostats, used in intelligence, surveillance, reconnaissance, and communications applications. Their strategic approach includes both organic research and development and strategic acquisitions, bolstering their ability to provide comprehensive 4G LTE Advanced and 5G solutions.
Recent achievements include a reseller agreement with SIFF LLC for cloud-based network change monitoring and compliance software, enhancing their SaaS offerings. They have also successfully deployed Fastback Intelligent Backhaul Radios with a major travel stop network, demonstrating the practical impact and reliability of their solutions in real-world settings. These radios are recognized for their exceptional performance in highly congested environments and ease of installation, especially in rural or remote locations.
Despite recent challenges with SEC filings, COMSovereign remains committed to regulatory compliance and has made significant strides in filing delinquent reports. Their ongoing efforts to streamline operations and reduce costs have positioned them well for future growth and sustainability. For more updates and information, please visit their website www.comsovereign.com.
COMSovereign Holding Corp. (NASDAQ: COMS) has filed a mixed shelf registration statement on Form S-3 with the SEC, granting the company the ability to sell up to $65 million in securities over the next three years. This move is intended to provide financial flexibility for growth and debt management without issuing common equity at current share prices. The registration statement awaits SEC effectiveness, after which terms of future offerings will be specified.
COMSovereign Holding Corp. (NASDAQ: COMS) has entered a strategic development alliance with IQ-Analog to enhance next-generation wireless communication technologies. This partnership aims to fuse Innovation Digital's patented signal processing techniques with IQA's advanced ASICs, targeting military applications and commercial 5G systems. The alliance seeks to reduce hardware costs, increase power efficiency, and improve the performance of wideband transceiver products. Industry leaders highlight the potential for robust and flexible RF systems through this collaboration, which is expected to serve multi-billion-dollar military and commercial markets.
COMSovereign Holding Corp. (NASDAQ: COMS) has successfully acquired a majority of SAGUNA Networks LTD shares for a total consideration of $13.6 million in restricted common stock. This strategic acquisition positions COMSovereign to enhance its capabilities in 5G and Mobile Edge Computing (MEC) technology, crucial for the next generation of wireless communication networks. SAGUNA's software is integral to the world's fastest 5G network and supports applications like IoT and augmented reality. The acquisition is anticipated to finalize within 30 days, contingent upon customary closing conditions.
COMSovereign Holding Corp. (NASDAQ: COMS) reported second-quarter financial results for 2021, showing revenues of $3.6 million, up from $3.0 million in Q2 2020, and a sequential increase of over 73% from Q1 2021. Gross profit improved to $1.8 million with a 50% gross margin. However, operating expenses rose to $12.2 million due to business expansion and increased staffing. The company ended the quarter with $4.9 million in cash and anticipates revenue from $8.7 million in orders in upcoming quarters.
COMSovereign Holding Corp. (NASDAQ: COMS) announced the resumption of volume shipments for its Fastback Networks radio products after increasing production capacity. This follows a multi-year Master Vendor Agreement with a Tier 1 U.S. Mobile Network Operator. The total value of open orders exceeds $8.7 million, and the company expects to fulfill these orders throughout Q3 and Q4 of 2021. With enhanced capacity, COMSovereign anticipates meeting $40 million in Fastback radio orders within the next 8 to 10 months, driven by growing demand for improved network performance.
COMSovereign Holding Corp. (NASDAQ: COMS) will host a conference call on August 16, 2021, at 4:30 p.m. Eastern time to discuss its second-quarter results for the period ended June 30, 2021. A press release with detailed financial results will precede this call. The event will be led by Dan Hodges, Chairman and CEO, and will include a Q&A session. Investors can access the call via a toll-free number or listen live through the Company’s website. The replay will be available until August 23, 2021.
COMSovereign Holding Corp. (NASDAQ: COMS) has formed an innovation partnership with George Mason University and Widelity, Inc. to explore 5G applications and technologies. This collaboration focuses on enhancing cybersecurity for 5G and developing next-gen applications, leveraging Mason's research capabilities and COMSovereign's hardware solutions. The partnership aims to accelerate the deployment of 5G technologies in smart communities and bolster the regional innovation ecosystem. This initiative aligns with COMSovereign's mission to advance American-made wireless infrastructure.
On July 16, 2021, COMSovereign Holding Corp. (NASDAQ: COMS) announced the acquisition of RF Engineering & Energy Resource (RFEQ) for approximately $2.75 million, consisting of $2.2 million in restricted common stock and $550,000 in cash. This acquisition enhances COMSovereign's capabilities in high-performance microwave antennas, a key component for 4G LTE and 5G networks. RFEQ has served prominent tier-1 telecom clients in the U.S. and Latin America, offering innovative solutions like the Universal Licensed Microwave Antenna, which supports frequencies from 6 to 42 GHz.
COMSovereign Holding Corp. (NASDAQ: COMS) has been added to the Russell Microcap® Index effective June 28, 2021. This inclusion indicates strong market capitalization and style attributes, enhancing the company's visibility among institutional investors. COMSovereign has also raised over $39 million in growth capital this year, contributing to its strategic plan for expanding U.S.-based 4G and 5G wireless technology solutions. Russell indexes, benchmarked by approximately $10.6 trillion in assets, provide essential metrics for investment strategies.
COMSovereign Holding Corp. (NASDAQ: COMS) and Radisys Corporation announced a strategic partnership on June 24, 2021, aimed at enhancing 5G telecommunications solutions. The collaboration will integrate COMSovereign’s O-RAN-compliant 5G technology with Radisys' Connect 5G RAN software, focusing on private 5G and edge computing applications. This synergy aims to accelerate 5G deployment across Defense, Public Safety, and Commercial sectors, reducing time-to-market and capital expenditures. The partnership is positioned to address diverse applications, including autonomous vehicles and smart cities.
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