WI2WI CORP - ISEYF STOCK NEWS

Wi2Wi Corporation reported a year-over-year revenue increase for FY2022, achieving $6.9 million, up from $6.4 million in FY2021, despite ongoing challenges in the tech sector and inflationary pressures. The company maintained its customer base and welcomed new partnerships, with expectations for further growth in 2023. However, raw material costs and supply chain issues resulted in decreased profit margins. The company projects a recovery in margins as inflation eases. Wi2Wi faced a net loss of $1.236 million and reported net cash used in operations of $305,000. Total assets decreased to $9 million. The outlook remains cautiously optimistic as management signals readiness to navigate industry headwinds.

Wi2Wi Corporation reported its unaudited financial results for Q3 FY22, showing a book-to-bill ratio of 1.1, indicating efficient operations despite supply chain challenges. Revenue increased to $2.02 million, but gross profit declined due to inflationary pressures. The company's cash on hand is $1.517 million. CEO Zachariah Mathews expressed optimism for future growth as the company enhances its R&D efforts to adapt to market changes.

Wi2Wi Corporation reported its Q2 FY22 financial results, revealing a revenue of $1.561 million but a significant decline in gross profit from $465,000 in Q2 FY21 to $128,000. The company has $1.812 million in cash and is investing heavily in R&D, anticipating a strong book-to-bill ratio moving forward. Despite a net loss of $426,000, management is optimistic about future bookings and the company's prospects as they prepare for increased demand across sectors including avionics and healthcare.

Wi2Wi Corporation has announced the election of five new directors during its annual general meeting held on June 30, 2022. Among those elected, Gary DuBroc has been appointed as Chairman of the Board. The company specializes in reducing wireless R&D costs, offering integrated wireless connectivity solutions across various industries. Founded in 2005 and headquartered in San Jose, California, Wi2Wi operates satellite offices in Middleton, Wisconsin, and Hyderabad, India.

Wi2Wi Corporation reported a 5% year-over-year revenue increase in Q1 FY22, totaling $1.592 million. Despite the revenue growth, gross profit decreased from $177,000 to $160,000. The company currently holds $2.123 million in cash and is focused on improving customer engagement across avionics, IIoT, and healthcare. CEO Zachariah Mathews emphasized customer-centric solutions as key to future growth. The net income for the quarter was $(371,000), compared to $(352,000) in Q1 FY21.

Wi2Wi Corporation reported its audited consolidated financial results for the fiscal year ended December 31, 2021, showing revenues of $6.453 million and a gross profit of $1.279 million. The company achieved a net income loss of $204,000, an improvement compared to a loss of $588,000 in the previous year. Furthermore, Wi2Wi reported positive cash flow from operations, generating $504,000 versus a negative cash flow of $674,000 in FY20. The reduction of top-line expenses by $644,000 contributed to these results, highlighting the company’s efforts towards cost management and innovation.