Showing posts with label Sierra Wireless. Show all posts
Showing posts with label Sierra Wireless. Show all posts

Thursday, November 8, 2018

Sierra Wireless posts Q3 revenue of $203 million, up 18%

Sierra Wireless reported Q3 2018 revenue of $203.4 million, an increase of 17.9%, compared to $172.6 million in the third quarter of 2017. Gross margin was $67.3 million, or 33.1% of revenue, in the third quarter of 2018 compared to $57.3 million, or 33.2% of revenue, in the third quarter of 2017. Non-GAAP net earnings were $10.5 million, or $0.29 per diluted share.

“We had strong growth in revenue and adjusted EBITDA on a year-over-year basis in the Third Quarter,” said Kent Thexton, President and CEO. “We continued to strengthen our position as the leader in Device-to-Cloud IoT solutions and our two highest margin businesses - namely Enterprise Solutions and IoT Services - increased to 27% of total revenue in Q3.”

Highlights:

  • Product revenue was $179.4 million, up 11.1% year-over-year
  • Services and Other revenue was $24.0 million, up 117.8% compared to the third quarter of 2017. 
  • Quarterly revenue for the three business segments was as follows: (i) Revenue from OEM Solutions was 148.3 million in the third quarter of 2018, up 7.6% compared to $137.9 million in the third quarter of 2017; (ii) Revenue from Enterprise Solutions was $32.1 million in the third quarter of 2018, up 22.0% compared to $26.3 million in the third quarter of 2017; and (iii) Revenue from IoT Services was $23.0 million in the third quarter of 2018, up 172.8%, compared to $8.4 million in the third quarter of 2017 driven by the contribution from Numerex and organic subscriber growth.

Tuesday, October 16, 2018

Sierra Wireless names Kent Thexton as CEO and Robin Abrams as Chair

Sierra Wireless appointed Kent Thexton as president & CEO.

Thexton has been serving as interim president & CEO since May 31st, 2018. Previously, Thexton was founding Chief Marketing Officer and board member of O2 plc in the U.K. (now part of Telefonica); the Chief Operating Officer of Rogers Cantel in Canada; and he co-founded a Mobile Virtual Network Operator (MVNO) business in the U.S. Mr. Thexton has spent the past five years in Canada as Managing Partner at OMERS Ventures and Co-founder and General Partner at ScaleUp Ventures.

On accepting his role as President & CEO, Mr. Thexton commented: “I am passionate about Sierra Wireless’s global leadership opportunity and honored to lead the company on a permanent basis. For the past four months, in my interim role, I experienced the strong position Sierra Wireless has in the global market and the major opportunity ahead with its strengthening service and solutions business. With dynamic evolutions in the IoT market, I am certain that a clear, aggressive strategy for the company is critical in directing our resources towards key growth opportunities.”

In addition, Robin Abrams, who has served on the company’s board since 2010, has been appointed by the Board of Directors to be the new Chair replacing Mr. Thexton who joined the board in March 2005 and has served as Chair since February 2016. In her new role, Ms. Abrams brings more than 30 years of experience in the technology industry having held key management positions for some of the world’s most high-profile technology companies, including Apple, VeriFone, and Palm Computing. Ms. Abrams is currently an active director on three other Boards of U.S. based technology companies.

Tuesday, July 31, 2018

Sierra Wireless debuts IoT cellular router for LTE, LTE-M, NB-IoT

Sierra Wireless introduced a compact cellular router for the IoT with support for LTE and LTE-M/NB-IoT variants

The AirLink LX40 supports data processing at the edge and is designed for connecting cameras, smart lockers and point-of-sale terminals, as well as industrial remote data logging and sensing equipment in indoor or protected-outdoor locations.

Sierra Wireless also said its AirLink LX40 also enables IoT edge programmability, supporting the field-proven ALEOS Application Framework for embedded applications, as well as tightly integrated cloud services and APIs. These features, combined with LTE-M/NB-IoT connectivity and a rich set of I/O options for data acquisition and sensor aggregation, enable critical data to be processed at the edge to drive application insight and create event-driven situational awareness, while optimizing data transmission. LTE-M/NB-IoT support also provides five to 10X enhanced coverage in remote locations or buildings, while reducing monthly data plan costs by up to 10X.

“Enterprises are gathering business intelligence by deploying IoT solutions over a diverse range of locations and assets, from security cameras in a warehouse to manufacturing equipment on a factory floor,” said Jason Krause, Senior Vice President and General Manager, Enterprise Solutions, Sierra Wireless. “AirLink LX40 represents the evolution of our router portfolio, starting with the LX60, to bring the same secure connectivity experience as our rugged performance portfolio, but in an even more compact form factor that is optimized for enterprise IoT applications.”

Thursday, June 28, 2018

Sierra Wireless intros FirstNet vehicle router

Sierra Wireless unveiled its AirLink MG90 High-Performance Multi-Network Vehicle Router supporting FirstNet’s First Priority – which includes priority and pre-emption for first responders – and FirstNet’s 700MHz Band 14 spectrum. The router supports LTE-Advanced Pro (Cat-12 speeds) and can switch seamlessly between FirstNet Band 14 wireless spectrum and other U.S. commercial mobile networks, with dual concurrent Gigabit Wi-Fi and Gigabit Ethernet and extensions to Land Mobile Radio (LMR) and satellite systems.  This is the first device of its kind to achieve the FirstNet Ready designation.

The router is based on Sierra Wireless' AirPrime EM7511 LTE-Advanced Pro embedded module, which was also recently approved by AT&T and is the first embedded module available for the FirstNet network.

“We’re pleased to welcome Sierra Wireless to the FirstNet ecosystem,” said Chris Sambar, senior vice president, AT&T – FirstNet. “The more tools public safety has access to on their network, the more we can help them achieve their mission. Sierra Wireless already has a well-established relationship with the first responder community, and with the FirstNet Ready designation, first responders can be confident that Sierra Wireless’ AirLink MG90 router is a trusted solutioand performance.”
n that meets FirstNet’s standards for relevancy, high security

Thursday, May 31, 2018

Sierra Wireless' CEO announces retirement

Sierra Wireless Jason Cohenour will retire from his position as President and Chief Executive Officer and will be stepping down as a director of the company.

Kent Thexton, Chair of Sierra’s Board of Directors, has been named interim CEO. A search is underway for a permanent replacement.

“On behalf of the entire Board, I want to thank Jason for his significant contributions to Sierra Wireless throughout his 22 years with the company, including the last 12 years as CEO,” said Mr. Aasen. “Thanks to Jason’s vision and leadership, Sierra successfully refocused its strategy and transitioned into a global leader in the IoT market. The Board will be taking this opportunity to recruit a world class leader to guide the Company through its next phase of growth and value creation. Kent has extensive experience serving in senior leadership positions in the international wireless and technology industries, and I am confident he is the right person to guide Sierra while we conduct a thorough search for our next CEO.”

Thursday, May 3, 2018

Sierra Wireless posts sales of $187M, up 16%

Sierra Wireless reported revenue of $186.9 million for the first quarter of 2018, an increase of 15.9% compared to $161.2 million in the first quarter of 2017. Gross margin was $62.1 million, or 33.2% of revenue, in the first quarter of 2018, compared to $55.5 million, or 34.4% of revenue, in the first quarter of 2017. Non-GAAP net earnings were $3.3 million, or $0.09 per diluted share, in the first quarter of 2018, compared to net earnings of $7.8 million, or $0.24 per diluted share, in the first quarter of 2017.

Product revenue was $162.9 million, up 7.8% year-over-year and Services and Other revenue was $24.0 million, up 138.6% compared to the first quarter of 2017. This breaks down as follows:

  • Revenue from OEM Solutions was $135.2 million in the first quarter of 2018, up 2.1% compared to $132.4 million in the first quarter of 2017
  • Revenue from Enterprise Solutions was $29.2 million in the first quarter of 2018, up 34.5% compared to $21.7 million in the first quarter of 2017 
  • Revenue from IoT Services was $22.5 million in the first quarter of 2018, up 217.6% compared to $7.1 million in the first quarter of 2017. IoT Services results include the first full quarter of contribution from Numerex.


“In the first quarter of 2018, we delivered strong year-over-year revenue growth in our higher margin Enterprise Solutions and IoT Services lines of business,” said Jason Cohenour, President and CEO. “With the acquisition of Numerex, we have added significant scale to our recurring revenue base and IoT services capabilities. We expect to leverage our stronger IoT Services business platform to expand our leadership position in Device to Cloud solutions for the IoT.”

Thursday, February 8, 2018

Sierra Wireless posts Q4 revenue of $183.5 million up 13%

Sierra Wireless reported Q4 2017 revenue of $183.5 million, an increase of 12.6% compared to $163.0 million in the fourth quarter of 2016.

Revenue from OEM Solutions was $139.8 million in the fourth quarter of 2017, up 3.4% compared to $135.2 million in the fourth quarter of 2016. Revenue from Enterprise Solutions was $31.8 million in the fourth quarter of 2017, up 52.0% compared to $21.0 million in the fourth quarter of 2016. Revenue from IoT Services was $11.9 million in the fourth quarter of 2017, up 73.5% compared to $6.8 million in the fourth quarter of 2016.

GAAP net loss for the quarter was $3.5 million, or $0.11 per diluted share. Non-GAAP net earnings were $9.2 million, or $0.28 per diluted share, in the fourth quarter of 2017, compared to net earnings of $8.8 million, or $0.27 per diluted share, in the fourth quarter of 2016.

“In the fourth quarter of 2017, we delivered year-over-year revenue increases in each of our three segments, with particularly strong growth in our high margin Enterprise and IoT Services lines of business,” said Jason Cohenour, President and CEO. “We also significantly strengthened our IoT Services business with the addition of Numerex, and are now better positioned than ever before to expand our IoT services and scale our subscription-based recurring revenue.”

Thursday, November 2, 2017

Sierra Wireless' revenue rises 13% yoy as IoT gains traction

Sierra Wireless reported Q3 revenue of $173.2 million, an increase of 12.8% compared to $153.6 million in the third quarter of 2016. Gross margin was $57.8 million, or 33.3% of revenue, in the third quarter of 2017, compared to $49.4 million, or 32.1% of revenue, in the third quarter of 2016. Operating expenses were $57.5 million and earnings from operations were $0.2 million in the third quarter of 2017, compared to operating expenses of $49.4 million and a loss from operations of $0.1 million in the third quarter of 2016. Net earnings were $1.2 million, or $0.04 per diluted share, in the third quarter of 2017, compared to a net loss of $1.8 million, or $0.06 diluted per share, in the third quarter of 2016.

  • Revenue from OEM Solutions was $138.5 million in the third quarter of 2017, up 8.4% compared to $127.8 million in the third quarter of 2016. 
  • Revenue from Enterprise Solutions was $26.3 million in the third quarter of 2017, up 38.8% compared to $18.9 million in the third quarter of 2016. 
  • Revenue from Cloud and Connectivity Services was $8.4 million in the third quarter of 2017, up 23.0% compared to $6.9 million in the third quarter of 2016.

In August 2017, Sierra Wireless agreed to acquire Numerex in a stock-for-stock merger transaction to expand its position as a leading global IoT pure-play.

Tuesday, February 16, 2016

Sierra Wireless Offers Smart SIM for Device-to-Cloud IoT

Sierra Wireless announced its Smart SIM technology and connectivity service for IoT.

“Our Smart SIM technology allows us to provide our customers with a connectivity service designed for the coverage and quality of service that their IoT use cases require,” said Emmanuel Walckenaer, Senior Vice President, Cloud and Connectivity Services at Sierra Wireless. “When combined with our IoT Acceleration Platform, this unique, fully integrated device-to-cloud service accelerates our customers’ time-to-market.”

Sierra Wireless said its Smart SIM automatically selects networks based on the best service available in any given location. It comes with multiple operator profiles already installed, effectively combining several MNO roaming SIMs into one physical Smart SIM. The on-board patented applet then intelligently selects the best available regional network operator at any given time. This results in better coverage and service up-time. In the event a device loses network signal, whether in-transit or otherwise, the Smart SIM will detect this and re-establish the connection with another network automatically.

Sierra Wireless noted that it has more than 700,000 SIM subscribers globally that count on its connectivity offering to power their IoT deployments.

http://www.sierrawireless.com

Monday, May 11, 2015

Sierra Wireless to Acquire Accel for LTE Aggregation Service

Sierra Wireless, which offers 2G, 3G and 4G embedded modules and gateways, has agreed to acquire Accel Networks. Financial terms were not disclosed.  The deal is expected to close in June 2015.

Accel Networks provides primary and back-up connectivity services to more than 300 enterprise customers in sectors such as retail, finance, security, energy, and hospitality. The company delivers an end-to-end solution – integrating 4G LTE gateways and the iMaestro antenna, with cloud-based radio frequency link optimization and remote management. Accel Networks was founded in 2002 and is headquartered in Florida, with its primary operations center located in Georgia. The company currently employs 28 full time staff.

“Since founding the company in 2002, we have been successful in building a strong customer base by developing solutions that overcome the challenges of utilizing cellular for mission-critical networking and by delivering robust indoor connectivity in a highly cost-effective manner,” said Mark Gianinni, co-founder and CEO of Accel Networks. “Looking forward, we are excited to join Sierra Wireless to further expand our offering and accelerate our growth.”

http://www.accel-networks.com/

Wednesday, December 24, 2014

Sierra Wireless to Acquire M2M Service Provider for $90M

Sierra Wireless agreed to acquire Wireless Maingate AB, a provider of machine-to-machine (M2M) connectivity and data management services for US $90 million in cash. The transaction is expected to close in February 2015.

Wireless Maingate, which is based in Karlskrona, Sweden, provides managed M2M connectivity and information management services to more than 500 customers across Europe, reaching a subscriber base of more than 500,000 connected devices. Maingate’s value-added services include leading-edge over-the-air subscription provisioning and tailored connectivity solutions for a broad range of M2M industries. The company claims a strong base of recurring revenue and expects 2014 turnover of over US $19 million and earnings before interest, taxes, depreciation, and amortization (EBITDA) of US $6 million. Sierra Wireless expects the transaction to be immediately accretive to earnings.

“The acquisition of Maingate is a strong strategic fit for Sierra Wireless, helping us to accelerate our device-to-cloud mission with the addition of leading edge wireless M2M connectivity and managed services,” said Jason Cohenour, Sierra Wireless President and CEO. “Maingate has a strong base of top-tier M2M customers and a proven technology platform that we believe will enable market expansion and accelerated services growth through our channels.”

http://www.sierrawireless.com

Wednesday, February 5, 2014

Sierra Wireless Launches LTE modules based on Intel

Sierra Wireless introduced two new AirPrime embedded LTE modules based on Intel chipsets and designed for integration into notebook computers and tablets. The AirPrime EM7340 supporting LTE in Japan and the AirPrime EM7345 supporting LTE networks in the rest of the world.

“Intel’s LTE platform is a very good fit for the requirements of the PC OEM by offering the largest number of bands supported in the new M.2 form factor,” said Horst Pratsch, head of the Product Line Modems & Modules at Intel Mobile Communication. “Collaborating with Sierra Wireless to provide connectivity to our joint customers was a logical next step for us and we are excited to see these products launch.”

Samples of the AirPrime EM7340 and EM7345 are available now for testing and certification purposes. Commercial shipments are expected to begin within this quarter.

http://www.sierrawireless.com

See also