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Sierra Wireless reported Q2 2021 revenue of $132.8 million, up 18.9% from the previous year. IoT Solutions revenue grew 16.3% to $90.3 million, while Enterprise Solutions rose 24.6% to $42.5 million. Adjusted net loss decreased to $1.1 million from $13.0 million YoY. However, the company anticipates challenges due to COVID-19 related production interruptions, particularly in Vietnam, which may negatively impact Q3 results. Cash reserves improved to $118.5 million.
Sierra Wireless (NASDAQ: SWIR) will announce its financial results for the Second Quarter ending June 30, 2021, on August 12, 2021, at 5:30 p.m. ET. President Phil Brace and CFO Sam Cochrane will lead a conference call and webcast to discuss the results. Participants can join by calling 1-877-201-0168 or via webcast at this link. Sierra Wireless is a premier IoT solutions provider, specializing in 4G, 5G, and LPWA technologies, serving global businesses to enhance operational efficiency and unlock new revenue streams.
Sierra Wireless (NASDAQ: SWIR) has successfully integrated its managed IoT solution, Acculink, with Microsoft Azure IoT Central. This integration allows firms to monitor high-value assets globally in real-time. Acculink offers a comprehensive solution for tracking and managing cargo and sensitive assets, alerting users to environmental risks. The service is currently available in North America, featuring various tracking options including Acculink Cargo and Acculink Fleet. Future expansions are planned for broader availability.
Sierra Wireless (NASDAQ: SWIR) has appointed Phil Brace as its new President and CEO, effective July 26, 2021, succeeding Kent Thexton, who will assist in the transition until August 13, 2021. Brace brings over 25 years of experience in technology, having held executive roles at Veritas Technologies, Seagate, LSI Corporation, and Intel. His appointment aims to enhance Sierra Wireless' growth in the evolving IoT solutions market, which is gaining momentum with 5G technology and digital asset transformation.
Sierra Wireless (NASDAQ: SWIR) has announced the integration of its EM9190 5G New Radio embedded module into Mobile Viewpoint's Agile Ultra 5G mobile encoder. This collaboration enables real-time transmission of live 4K UHD video for broadcasting events, significantly reducing production costs by allowing remote management. The 5G encoder supports various sectors, including broadcasting and security services. Key partners Alcom electronics provide essential support and global connectivity, facilitating swift certification across mobile networks.
Sierra Wireless has achieved a major milestone by having its EM9190 and EM9191 5G modules fully certified for operation on Deutsche Telekom's 5G public and private networks in Europe. This certification allows customers to deploy connected devices using 5G's enhanced data speeds and low latency for various applications, such as live streaming and IoT.
According to a recent report by McKinsey, the market for B2B 5G IoT modules is expected to grow from approximately USD 180 million in 2022 to nearly USD 10 billion by 2030, showcasing significant growth potential.
Sierra Wireless (NASDAQ: SWIR) has launched the new HL78 Series modules, specifically the HL7810 and HL7812, designed for low-power deployments in various fields including smart energy and asset tracking. These modules offer exceptional battery life, lasting over ten years, and minimize operational costs with reduced maintenance needs. The HL78 Series supports 3GPP’s Release 14 for enhanced data speed and decreased power consumption, making them a competitive option in the growing LPWAN market, projected to exceed USD 65 billion by 2025.
Sierra Wireless (NASDAQ: SWIR) announced the successful completion of interoperability testing for its EM9190 and EM9191 5G modules with NTT DOCOMO in Japan. This allows customers to deploy devices on DOCOMO’s 5G network, enhancing applications like live video streaming and robotics. The modules, designed for easy integration and equipped with eSIM technology, promise robust 5G connectivity. Expected revenue from B2B 5G IoT modules is projected to rise significantly, from USD 180 million in 2022 to nearly USD 10 billion by 2030, highlighting a transformative shift in the IoT landscape.
Sierra Wireless (NASDAQ: SWIR) announced the certification of its EM9190 5G New Radio embedded module and the MG90 5G multi-network vehicle router. These advancements enable seamless integration of 5G connectivity, particularly on T-Mobile’s high-speed network. The EM9190 supports a variety of applications, enhancing mobile broadband and IoT use cases. According to McKinsey, B2B 5G IoT sales could surge from $180 million in 2022 to nearly $10 billion by 2030. This positions Sierra Wireless favorably in the expanding 5G IoT market.
Sierra Wireless (NASDAQ:SWIR) has partnered with Aquamonitrix to utilize its Octave™ edge-to-cloud solution, enhancing water quality analysis by providing real-time nitrate and nitrite monitoring. The innovative application allows immediate response to pollution events, aiding compliance and reducing operational costs. Aquamonitrix launched the remote monitoring IoT application within five months, showcasing Octave's efficiency and effectiveness. The technology ensures accurate monitoring of 'dirty' samples, making it practical for various water management scenarios.
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