on NuRAN Wireless Inc. (CVE:NUR)
NuRAN Wireless Reports 2024 Annual Financial Performance
NuRAN Wireless Inc. announced a 36.42% revenue increase for 2024, totaling $4,364,327, largely driven by expanding live NaaS sites. The gross profit surged by 329% to $2,331,615. Total expenses dropped by 11.99%, while the net loss was reduced by 28.94%, reaching $8,755,860.
The company highlighted its ongoing growth and site expansion in various countries, aiming for positive EBITDA soon. Strong performance in Cameroon, with over 80% gross margin, underscores the effectiveness of their model.
Key developments in 2024 included a $32.2 million NaaS agreement for 200 sites with MTN Benin and securing $1.6M in private placement funding. These steps enhance financial standing and support rural telecommunications growth across Africa.
R. H.
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