NuRAN Wireless Announces Q3 2024 Financial Results

NuRAN Wireless Inc., a key player in mobile and broadband infrastructure, reported a significant increase in revenue for Q3 2024. Revenue reached $1.56 million, marking a 96% growth compared to the same period last year. This was mainly due to the expansion of their Network as a Service (NaaS) in Cameroon.

The company's gross profit improved, reaching $765,737 from a negative $93,225, reflecting a gross margin of 49%. However, total expenses rose by 30%, influenced by short-term borrowings, resulting in a net loss of $3.22 million, a slight improvement from the previous year.

For the nine-month period ending September 30, 2024, revenue increased by 87%, driven by new NaaS sites and CAPEX sales. Despite increased expenses, the net loss decreased by 14% compared to the previous year.