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Sierra Wireless (NASDAQ: SWIR) has announced the FCC certification of its AirLink® RV50X router for use on Anterix’s 900 MHz spectrum. This certification enables customers to access private LTE networks, enhancing their critical infrastructure capabilities. The RV50X supports dual SIM functionality, allowing seamless migration to private networks. Anterix, a leader in 900 MHz broadband, enhances this offer as it holds significant spectrum licenses across the U.S., Hawaii, Alaska, and Puerto Rico. Available now, the RV50X aims to bolster industrial IoT applications with rugged connectivity and low power consumption.
Sierra Wireless, a leading IoT solutions provider, has secured a new debt facility amounting to CAD$60 million through CIBC Innovation Banking and the Business Development Bank of Canada. This facility, with a term of four years, aims to bolster the company's liquidity. This move comes as Sierra Wireless continues to support businesses in enhancing operational efficiency and unlocking value in the connected economy through advanced IoT solutions.
Sierra Wireless (NASDAQ: SWIR) announced the appointment of Russell Jones as the new Chair of the Board effective January 1, 2022, succeeding Robin Abrams, who has served since October 2018. With a robust background in technology, Jones aims to guide the company towards profitable growth. Phil Brace, President and CEO, expressed gratitude to Abrams for her leadership. Sierra Wireless specializes in IoT solutions, integrating devices, network services, and software to enhance operational efficiency and customer experiences globally.
Sierra Wireless (NASDAQ: SWIR) has announced the certification of its AirLink® XR Series cellular routers, the XR90 and XR80, for T-Mobile’s 5G network, the largest in the U.S. These routers are designed for mission-critical applications in sectors like public safety and transit, offering advanced 5G capabilities, including low latency and high data speeds. The XR Series routers support various networks and feature enhanced security and operational simplicity. This innovation positions Sierra Wireless to meet the growing demand for reliable connectivity in critical environments.
Sierra Wireless reported Q3 2021 revenue of $82.5 million, down from $113.4 million in Q3 2020, mainly due to manufacturing capacity constraints in Vietnam caused by COVID-19. IoT Solutions revenue decreased to $53.7 million, while Enterprise Solutions revenue fell to $28.8 million. Gross margin also dropped to 29.3% from 34.8%. The net loss from continuing operations was $38.4 million, significantly higher than the previous year's loss of $14.5 million. Despite challenges, demand remains strong with a revenue guidance of $120-$135 million for Q4 2021.
Sierra Wireless (NASDAQ: SWIR) announced significant organizational changes aimed at enhancing business performance. Pravin Desale joins as SVP Engineering, bringing 28 years of experience. Sam Cochrane expands his role to include Human Resources. Roy McLean becomes SVP Operations, centralizing global operations. Jim Ryan takes on SVP Product, Partnerships, and Marketing, while Steve Harmon becomes SVP Global Sales. Additionally, several senior leaders will depart. The changes are intended to align the team for profitability in 2022, according to CEO Phil Brace.
Sierra Wireless (NASDAQ: SWIR) is set to announce its Third Quarter financial results for the period ending September 30, 2021, on November 9, 2021, at 6:00 p.m. Eastern Time. The company's President and CEO, Phil Brace, along with CFO, Sam Cochrane, will conduct a conference call and webcast for analysts and investors to discuss the results. To join the call, dial 1-877-201-0168 or 1-647-788-4901. A webcast will also be available, with a recording accessible afterward. Sierra Wireless specializes in IoT solutions, leveraging over 25 years of expertise.
Sierra Wireless (NASDAQ:SWIR) has launched its new 5G managed network service in the United States, enhancing connectivity for business-critical applications with high speed and low latency. This service offers comprehensive solutions for various sectors including retail and healthcare, ensuring guaranteed uptime and seamless management. Available in three options—Basic, Premium, and Pro—the service allows for flexible plans and lower initial investments. With continuous monitoring and updates, it aims to optimize operational efficiency and reduce downtime, thus transforming digital operations for customers.
Sierra Wireless (NASDAQ: SWIR) has integrated its EM9191 5G module into AVIWEST's mobile video encoders, enhancing live video streaming capabilities. This collaboration allows broadcasters to remotely stream high-definition video efficiently, significantly reducing operational costs related to travel and equipment. The EM9191 module supports various 5G frequencies globally, ensuring compatibility across networks. AVIWEST's successful implementation of these encoders during major events like the Copa del Rey showcases the practical benefits of this technology in real-world applications.
Airgain and Sierra Wireless have successfully completed public safety agency field trials, showcasing their advanced Power Class 1 connectivity solutions. The partnership has resulted in significant customer acquisitions, demonstrating a commitment to integrated mobile and fixed connectivity. Their combined solution, featuring AirgainConnect AC-HPUE technology and AirLink router platforms, is designed for enhanced coverage in demanding environments. This collaboration aims to improve communications for first responders and critical energy providers, reflecting both companies' dedication to robust wireless networking.
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