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LONDON - Ethernity Networks Ltd (AIM:ENET.L; OTCMKTS:ENETF), a supplier of networking technology, reported a 40% decrease in net comprehensive loss to $2.12 million for the first half of 2025 compared to $3.54 million in the same period last year.
The company posted revenue of $598,599 for the six months ended June 30, slightly up from $582,008 in the first half of 2024. Gross profit reached $598,599, representing a 100% gross margin, compared to $566,602 and 97.4% gross margin in the prior year period.
EBITDA loss decreased by 35.8% to $1.02 million, while adjusted EBITDA loss fell by 28.4% to $1.19 million. Cash collection during the period amounted to approximately $772,000.
According to the company’s press release, the majority of H1 2025 revenue came from deliveries to a Tier 1 U.S. aerospace vendor under contracts valued at approximately $1.3 million. Ethernity completed all deliveries under these agreements by the end of August 2025.
CEO David Levi stated that the company is shifting its ASIC development strategy from an OEM co-funded model to a semiconductor partnership approach. Under this new model, a semiconductor partner would fund the full ASIC development costs, while Ethernity would receive non-recurring engineering income and future revenue sharing.
The company has begun discussions with a semiconductor vendor in the mobile and broadband market regarding this partnership model.
Despite the strategic shift that could reduce future funding needs, Ethernity acknowledged an immediate cash requirement to continue operating as a going concern. The board is exploring options to address this situation.
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