Airspan Networks (MIMOQ) 10 Nov 212021 Q3 Earnings call transcript

00:03 Greetings and welcome to the Airspan Networks Holdings' Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. 00:27 It is now my pleasure to introduce your host, David Brant, Airspan’s Chief Financial Officer. sir. you, Thank ahead. Please go

We items you could forward-looking SEC very of discussion our Thank risks encourage filings or The including earnings risks is differ and and uncertainties. discuss to our much. call, Comments that actual include The other results are statements statements. measures. financial results at our forward-looking ir.airspan.com. to we financial statement uncertainties significantly website you or from will XX:XX on review release considered are available available forward-looking projections involve in that website. XX:XX and future operating our following are cause on not will Investor fact our On non-GAAP and detailed which a certain our this financial

identification XX-Q. over the the our two, measure, measures, directly the For non-GAAP when I see Form turn CEO, XX:XX financial will between most call filed and reconciliation the to comparable of Airspan our Eric the Stonestrom. and earnings release financial now

you, Thank for thank you call. earnings morning David. and us quarter third Airspan’s for joining Good XX:XX

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where the into tens These next dollars project this have funnel As across TAM David roll As of a transition segments look currently years, solid a the to into we engaged of over our we CFO. it out customer out turn billions Brant, few of dollars we and billion with is point types. are plan the translate products. we XX:XX a in three into we're to Airspan financials, to the great customer

for exciting slide an twenty sixteen. Eric. and Thanks, to Please Airspan. year Twenty has product of XX:XX turn been revenue growth one innovation

million net point Airspan in equity dollars The and of percent completed twenty addition, up one with in In hundred was software revenue private twenty thirteenth, over the revenue cash Acquisition August its and dollars, Corp. proceeds. Products concurrent on percent. period thirty XX:XX Beginnings Year-to-date, five six seventy nine hundred licenses one capital and the fifteen combination produced we seven million twenty. raise combination and up business have that New and debt business had

in twenty our customer We thirty gross XX:XX year-to-date our product more over one two year. margin for percent, September forty the seven percent from up broaden have software to Gross two we dramatically thirty was twenty strong continue percent as add profit and prior of content eighteen’s type twenty up million, mix. fifty twenty five through

in tower software dollars percent and point of Products this legacy dollars, customer seventeen. million mix, and million eight existing by last revenue strong behalf the of from domestic a licenses thirty the Turning twenty second purchase point and record percent access continued We quarter a customers of a slide nine quarter. new to which quarter XX:XX revenue four XX:XX in six exciting million quarter. earlier are same after expanding from have maintenance our order from largest purchase our cable contract, saw on orders in the revenue, which up last customers size We geography. encouraged in our placed and period both up fixed expired to company. We eight revenue company to the from Each two thirty year. nine this exclude addition was thirty second year's dollars, wireless year order in third first diversify

seventeen We dollars. purchase corporate point one their last order technology year's XX:XX to a seventeen also over of twenty on Gross power million a was received profit company connectivity three flat essentially of from major for million equipment point campuses. to

down of dollars to million Third four million of nine loss compared primarily ago quarter point percent one third million point ten to third year expenses. in was spot a loss to expedited period. in Adjusted dollars Gross loss for compared with loss dollars the margin around six twenty pressures. higher EBITDA variance quarter centered effects due seven twenty XX:XX percent chain supply point a a These of and from of last forty prices net purchase twenty. was the quarter million majority net shipping the components the of was four for year's forty hardware dollars eight nine

product these of the into begun quarter expenses of to have the one some in we components we supply of impact the third price XX:XX chain delay dollars challenges increased customers of our While twenty million twenty to on continue cost growth two. increases, alone. twenty expect led is through While largest pass the approximately strong, to to of shipments

Qualcomm. and number We challenges. designs finding to supply partners with are working of Foxconn our at working In alternative critically mitigate and looking components, chain ways hard a our in closely

business. twenty Please you such to the we turn I'll expect through our two. eighteen slide and continue take XX:XX supply outlook to for However, chain into twenty challenges

anticipate a run hundred prospects, environment. we While three percent for Looking chain range to line supply these year encouraged four a twenty twenty twenty growth the in one to the twenty twenty four time we of dollars two the fourth we of annual seventy million million Balancing cognizant are percent dollars. next hundred dollars twenty out expect percent rate to through a business five margin. gross top revenue XX:XX of and million range two at forty from QX factors, accelerating to fifty quarter year, in

to fifty twenty We it Operator, expect Eric to percent questions for an gross year to will that, increase XX:XX With for percent. margin twenty full over term and continue in I questions. of margin seven gross a forty and long two the your up target please open prompt

XX:XX Ladies Our George the of Notter Thank is first question you. questions. floor gentlemen, Jefferies. go ahead. open [Operator from is and Please now coming for Instructions]

XX:XX I supply Hi, very maybe impacts to guys. by much. questions guess you of chain I understand are Thanks better just lots trying would sorry. the start guess I seeing. guys

on that was continue And twenty chain of you and So couldn’t I impacts? two be twenty XX:XX about can just supply great. in also, twenty more sense give make impact how curious revenue any dollars might had think one be gross you then And margins impact that us in quarter you and said how that then, quarter? give for customer that revenue into impacted would you to -- QX? maybe do can And in you supply then chain us you you on us flavors the impacts the the also? shipments is in that million give total margin a terms much expect to for expect the I

David XX:XX in George. well. start as Hi, fill I'll and some Okay. Eric, can

until commits third the – go and in partners came a from that quarter. way some twenty significant two. fact, of that than component one like was into the won't delayed bigger challenges we the Qualcomm. million was with deliveries it that dollars me, of some yes, XQ, Intel So, excuse twenty that twenty We had quarter twenty along twenty out issues and and third in pushed bigger had number de Chipset in the

used parts of We and on and the to the had engineering, the had designs Semiconductor in quarter of worldwide into folks bespoke see also more extent as as at in are we this can dollars volume. places said alternative year. that simplistic We spot the that coming slip a opposed looking year next multiple intended managing to wafers to fourth Taiwan. like script, of XX:XX we Skyworks product also this market less out million that series parts shortages we that have buying we're overall ship out least and products for forty will have in

in have robust twelve of allowing continuing year build to a two, is used What what a mean for nine is. in month more issue. to that's parts If our that twenty eight as time with conversion course, come time or in it throughout moderate week exciting us demand factor to coming about. really it it's to are a of does we're our So, or outlook, seven see Again, continue growth requires that concerned the with we're more sixteen plan and lot year. as terms is a thinking lead lead or the a fortunate the for

So you what [Multiple we're add conservative gross on line? XX:XX Speakers] might some margin being there. to want it David, specifics

Thanks Yes. you, Thank question, XX:XX the George. for Eric.

same estimated percent we in out So think two. the three in that impacted or QX QX and see approximately into of points we that’s twenty of twenty modeling the the and margin of percentage mentioned three impact I were we beginning

increased the we it that we also -- components other very cautious and So extending. lead in -- we're has significant in how shipping and prices and impact onwards, it's -- with see times is and get that and we is into hope gray it but QX costs a are it is I competing were in the being increase as people the market

So what at we're moment. seeing that's the

it. Got XX:XX

us sense backlog give mean, give closing you kind any would side that terms share could for the of of And great. us that order I anything growth in and can can some be you demand metrics or year-on-year things? helpful. That's Okay. of

XX:XX Yeah.

and the we're side Just number strong of speaking, robust. the customers generally, adding demand is is additional

the moment, to seeing new hardening but about third in talked we're of our that faces customer universe customers getting at of our robust and going the the We aren't we be it's the orders detail on demand. did in four much get sectors significant showing in quarter. all the three from markets in We leading number that definitely more each

no demand or So of a there's change been direction thing. and or strategy good that's very

it. Got XX:XX

this I the then call. mentioned you And think on Okay.

a I the new I about more MSO large cable was talked and customer there in broader rollout. had cable? can at more a works in that or opportunity, was orders, potentially guess, us was of that that a that? can opportunity you any came -- metro doing significant a interested like I You just Is hearing sounds in tell say sort customer trial customer that it by a and looking about area know you with it still you guys you

XX:XX challengers just that concluding as very in on opportunity testing is schedule. Yeah. the excited works. much We're and about phases We're there very the

a And spend. significant part potential so that turn of will part be of year with into CapEx the to an interesting next first our

then was is – a ever. compelling So options. exciting ever are absolutely customers the excited They presented MVNO vis-à-vis And case (ph) we've And as with. as think it as potential challenger added no there. second we're I of also the

so are products very as I and ever, this this area. think see robust a in And our as unique we

I'll very it All on. much, pass XX:XX Okay. right. guys. Thanks

George. Thanks, XX:XX

you. Thank XX:XX

XX:XX Thank you.

of ahead. Ferragu New is question coming Pierre from Research. Please go Our Street next

XX:XX David. so -- Hey, that's taking Thanks my Hey, Eric. question.

you out communicated quarters, in the take delayed and versus do terms significant a for being rollouts maybe clearly trajectory, the constraints projects difference allocated you strategies or of to anticipating you then and So it's a whichever -- terms in supply in understand understand June like in like account to scale what anything like, to lower bit what further of could revenue we next, be trying I'm of into four, to know and playing I'd of five try of being initially should that. driver, kind were what at

catching constraint you're get the shortfall guys baseline right, short all where of it's you then below million So a hundred well, you end with like and so million next million mostly first kind of one quarter, this And that. a back be and of if for like thought overall things like, twenty next the of had below for you understand trajectory would clear is I towards twenty quarter. year, up to forty

right [indiscernible] is way Difficulty] think like aware So how of much of? [Multiple the of supply this question other question one be [Technical that revision which driver two, constrained we any to that that it? really about should And Speakers] is on

Go ahead, XX:XX David.

on XX:XX are thinking, an extent weekly turning bringing we into I impact we the one has times question can eight such drive challenges of months lead the I those for what fast it. as and components as have with lead that to extended in can an Pierre. expediting was but since our do looking we're and thanks can orders how we we for times the that and the that looking of is been out times mean, twelve lead that

So two. I twenty twenty much we're very thinking is how driven of chain think supply

And in would XX:XX see Yes. slowdown I we've that, demand and no interest. just like

as we're the on, year. problem half in very focused and challenges that's that the alleviate the of execution, begin to will David what So said, think second this in I

We extra landscape couple of of the that's for next component de bullish are first the half quarters we year, a first commits, commits, Silicon pull-ins why of year. way. of being parts have conservative extra And spending recognizing the expectation prudent less for associated very in money and a for the

XX:XX Great. for Thanks that.

you. Thank XX:XX

is Barrington ahead. question go coming next Please from Chris Howe Research. Our of

morning, Good morning, David. Eric. Good XX:XX

Hey, XX:XX Chris.

Hi. XX:XX

I to questions supply get but then to I'll the would suppose I question, on like more Another ask. chain, that

You the you in impact quarter. look challenges? year-to-date the we other on that million chain amount, supply talked twenty in the a and than number Do at was totality if greater quarter, of related issues dollars that about what the the of from the chain logistical customer large supply have

million million the twenty would over It's It dollars. a component XX:XXI commits not fighting the of where de it in build. stop would started where really prove quarter out thirty is million. de plus dollars say that single twenty we found commits where we third

Chris. there I was third think was driver So quarter biggest it that the

on could be we But we able it's in more stuff some on million on the this. component well. that to have But every dollars about fight we success Again, dollars quarter XQ, Yes. in hand we about fourth balance, deliver. XX:XX deliver won't de that day pulling commits in forty as million forty

number, Okay. you XX:XX have total year-to-date that? The do

number it some XX:XX of but way, the to XQ, a of that XQ reasonable it's excess think We up forty. slips because spread into it's in

challenging And software the how thirteen. you We've about Okay. issues to next talk a question of and I this about over ask the the Can business end the the we as perhaps you into and that starts on the before fifty then we potential think XX:XX wanted into some seen these slide marker? slide see evolution challenges in environments. and calendar the the offset lead or we months percent quarter the of year? further next This gross beyond as twelve get could latter supply fourth to half of margin as chain accelerate to

XX:XX We're really software. Yes. doing on well

the did lot very also us in And these us. hardware. virtualization. to for that. to a are product all a our CUDU revenue also bids It's and which And to virtualization We that proliferating some software release make a have in out doing the the licensing press lot distinct a product [indiscernible] with pay enabling roll are enables stream should accomplishment add and that now we challengers and of line. where our that's Qualcomm, we're products that transactions are a our two as on using It's software. in then our I now and on that selling CBRS powering drive now on introduced third-party CBRS software Interconnect and handsets we or IoT, for sometimes you succeeded we in big one, of such U.S. the architecture efforts, in a strand-mount the good aspects doing the we We're of

this side. area us. a private And and new into set solutions with more So XX:XX very of of bringing is growth XG is for that announced and OEMs A mentioned this to come. we've lot really the partnerships this

useful, very property air connected connecting applications very moving air-to-ground, the controlling such the where and with we in addition, In our of specialty useful in as lot a obviously strong set actually air-to-ground, Metaverse. we do very modify intellectual potentially car, software interface, put objects into a of we

to there two. portfolio we got strong contributions in make really So will twenty twenty now, significant that a start

provide to additional fiscal range here, percent that six to revenue XX:XX as some growth underneath question That's color percent twenty twenty perhaps is in that last and mentioned. to that that was composition for year for growth months three of initial the just you today from you Can great. growth the and guidance it you're seeing two And where calling that twenty what guidance. five surrounding how my ago

being continued incumbent private in access think mix we're first to the said, XX:XX Yes. The percentages revenue dollars I seeing growth we see the of I going for cautious three year up two in will XG of Eric that it revenues. QX. wireless of half million hundred as and fixed networks seventy to The see the There that our they more and is growth products. carrier as be will we're bigger annualized million, opposed hundred become

said in That the substantial increase challenger Yeah. we're XX:XX sector. to going also see

and networks the such cable substantial orders revenue hand. increase as So already in air-to-ground, with in a networks private

taking my questions. you Thank for Okay. XX:XX

you, Thank Chris. XX:XX

question coming Our XX:XX Please ahead. Franco from Davidson. is next Granda D.A. [Operator Instructions] go of

Yeah. XX:XX Good everyone. for you taking questions. my morning, Thank

opportunity. the to fixed wireless So back tough wanted on I

You talked again. gap and wise accomplish time you that that the is looking perhaps, on products have something technology what revenues over you you’ve looks of you still of like It Mimosa to recently? those about it new to should be talk double big since drivers about acquired how that? the it doubled close need you're some or Can which that, traditionally that on perhaps to

It's Yes. a really question. good a XX:XX

seeds product publicly added gigabit a this. among so new with additional year markets the been The three announced are we're And exciting potential estimate get just the this think of several able tremendous space. especially out more it product and done to come what a is will wealth many distributors into We've at wants been introduced a and plus because on names of when in franchises we've different now he the times exclusively exciting And mix. even four solution, We've buzz sales, the mix, an large by many too recently our least continuing have in to grow lot their planted commercial to everybody there's geographies. existing any basically Ancikovsky, crowding Amit year we've that that's verticals, We're line. product that. community we anchored as not that's the who's larger and focused bringing thing a the user through XX:XX that's on dominant Senior Executive Mimosa that of We've buyers about distributors and second out hands and distribution bring to We we've different opening journey. added a portfolio the with we by I business, excited we brings the business, competitor distributors. on that's acquired focused experience there about this was ahead really

Jio of generation current We increasing in with is this seventy that have product and thousand of over units deployed the very number India Reliance nicely.

cellular adds think a capabilities have that that product potentially historically That that that X product attractive merge dollars X of Carriers license household more one from competitors, even they a new names software buy style our with their didn't typically it of billions IPXX need FTE the also super to use carriers. in of XG kind makes same additional CapEx. like buy we'll because on environmental We Tier I they with architecture management offload that so of equipment Tier on looks what the wouldn't base universe. into charge that

think are to everybody, I provider, one connectivity carrier. cellular a So fiber path we got a We've carrier, to our several start there more whether to the they big everybody into great carrier, a portfolio fixed there. have shines a endpoints. get needs mix, more And with good

excited Ohio, state is well actually to very bids really Obviously, busy. affairs for got on that's really and So, how money in that of hired concentrated dollars earlier us it’s local as was rise to budget harvest a world we've spend soliciting and we Kentucky that given are certain a very that Remember government and those have go to That's Scott that. billion giving you signed year ahead don't a very the to something like XX:XX announced it Iowa for building class very, the by Biden, the We've already are states area stimulus on to. five this to money. government in products, sixty team that. focused us has got exciting the recently that as states, The And growth President government effort own there spectrum.

can portfolio. the historically as key customers broad, it there tools, a these in got we who anybody we and carriers variety types addition a have to up big the market the connected great needs is make to opens as of as get because So sold can use to we've it of different

little or perhaps get products a XX:XX might some obviously of you new That Mimosa. And a mentioned is then all examine of you're around products, supply in able interest gigabit might since you with to to as here easier? it’s a for And the extremely rise given that exciting. be yes, have seen very helpful. they up just the forward able this But older quicker lot components this your constraint solution, got shape even given

the on seeing XX:XX Yeah. LTE. a tail things like We're

been thousand and hadn't an in XG and we have licenses example XXXX expectations delayed are markets XG modest. XG the booked are very product anticipated over handsets product India recently, on five and twenty a handset in as proliferate XG granted. solid India that which where we've in not We AS very, a good been units haven't They've that's yet

in the better XG but is a Given handsets We thing is and nice that's expected of commercial of certainly the see nice lot of as XG growth well. a activity cost than innovation and tail us a along giving higher on XG XG. lot the activity, chugging

does supply asked think and challenges question. frankly, other would just just I products, And the it slightly cover your to cover answer about XX:XX unfortunately, XG chain, you XG

XX:XX [indiscernible]

XX:XX back like turn Stonestrom over to comments. Thank you. time, Mr. to this for At I'd the floor closing

Please turn slide Okay. to twenty. XX:XX

Virtual we hungry right up, cycle. We connectivity is is a again, Next feel on Week be to have interest forward in forward Tech investors driving and As every on XX:XX and all one-on-one sixteenth. support. chats huge tremendous the What the event applications the these updating fireside your aspect with Comes new look Street both set of New XG this to One further fifteenth to our engaging at take and would life. like we leading in of we're you to the you we November we and This look capital tailwinds Metaverse, and data meetings on appetite Monday, Needham Tuesday note, participating at last demand full We which conference wrap reiterate CapEx Thank progress. human for events. XG, for for will Research, November product advantage the witnessing

XX:XX Ladies and concludes gentlemen, this event. today's

rest or lines webcast your this your disconnect off may the at the and day. You log time enjoy of