NeraTel reports 18.4% revenue growth in 3Q2022

In a business update, NeraTel announced an 18.4% y-o-y rise in revenue in 3Q2022.

For the third quarter ended September 30 2022 (3Q2022) Nera Telecommunications’ (NeraTel) revenue increased to $29.0 million, up 18.4% y-o-y.  This was a result of NeraTel’s streamlined sales push, targeting customers in need of both hardware and solutions upgrades to remain competitive in the post-pandemic era. For the nine months ended Sept 30, revenue increased by 33.3% to $90.4 million, up 33% y-o-y.

NeraTel’s quarterly order intake has seen marked improvement from a low of $22.2 million in Q1 2022 to $41.8 million in Q3 2022. This is a continuum of the steady rise in opportunities as markets reopen and hybrid mode of work remains the norm.

“Looking ahead, the Group will further strengthen our offerings surrounding 5G connectivity and to meet growing demand for cybersecurity upgrades, which have both accelerated the need for improved communications and network infrastructure across all sectors. The Group anticipates these trends to create more business and partnership opportunities for NeraTel in Q4 2022 and in the years ahead,” says Chong Hoi Ming, CEO of NeraTel.

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