Latest news with #VecimaNetworks
National Post
6 days ago
- Business
- National Post
Vecima Introduces Industry's First Compact Generic Access Platform (GAP) Node Designed for 4 GHz
Article content Entra ® EN3400 is a compact, multi-services GAP node optimized for multi-dwelling unit (MDU) and enterprise applications, supporting Remote PHY and 10G EPON today Designed to support the transition to 50 Gbps PON, DOCSIS ® 4.0, and future services over hybrid fiber coax (HFC) up to 4 GHz Article content Article content VICTORIA, British Columbia — Vecima Networks Inc. (VCM: TSX) today announced the launch of its Entra EN3400 Compact Generic Access Platform (GAP) Node, deployed as either a two-port, Remote PHY (R-PHY)-enabled cable access node supporting DOCSIS 4.0 or a two-port All-PON™ node. Article content In October 2021, Vecima announced the Entra EN9000, the world's first commercially available GAP node, which is now in broad deployment with a Tier 1 Broadband Service Provider in North America. The EN3400 Compact GAP Node is a future-proof, 'Forever Node' with a 4.0 GHz-capable housing supporting the same DOCSIS 3.1 Remote PHY and 10G-EPON modules as the EN9000 today, while seamlessly evolving to XGS-PON, DOCSIS 4.0, NRoC (New Radio over Coax) and future HFC and PON solutions. Article content Building on the interoperability of the EN9000, its open architecture allows operators to select the best solutions from a variety of vendors, driving down costs and ensuring network agility and scalability. Through future module upgrades for Unified DOCSIS 4.0, the EN3400 is targeting delivery of up to 20 Gbps downstream and 6 Gbps upstream as a Distributed Access Architecture (DAA) cable access node. Article content In addition, the EN3400 offers flexible power options, including both standard AC power and 60/90V cable powering to support multi-dwelling unit, enterprise, and hospitality applications. This flexibility translates into significant long-term savings and operational efficiency by reducing the need for frequent hardware upgrades or replacements. Article content 'The Entra EN3400 is the latest product from Vecima, building on the success of the original EN9000 GAP Node,' said Ryan Nicometo, Senior Vice President and General Manager, Video & Broadband Solutions. 'Designed for 4 GHz, the EN3400 is a high-performance, multi-application solution with a unique form factor suitable for MDU, hospitality, and enterprise deployments long into the future.' Article content About Vecima Networks Vecima Networks Inc. (TSX: VCM) is leading the global evolution to the multi-gigabit, content-rich networks of the future. Our talented people deliver future-ready software, services, and integrated platforms that power broadband and video streaming networks, monitor and manage transportation, and transform experiences in homes, businesses, and everywhere people connect. We help our customers evolve their networks with cloud-based solutions that deliver ground-breaking speed, superior video quality, and exciting new services to their subscribers. There is power in connectivity – it enables people, businesses, and communities to grow and thrive. Learn more at Article content This news release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements regarding Vecima's business strategies and objectives, and the anticipated benefits, performance, capabilities, availability or adoption of its products and services. Such statements reflect current expectations and assumptions about future events and are subject to risks and uncertainties. Vecima undertakes no obligation to update any forward-looking statements unless required by law. Article content Article content Article content Article content
Associated Press
6 days ago
- Business
- Associated Press
Vecima Introduces Industry's First Compact Generic Access Platform (GAP) Node Designed for 4 GHz
VICTORIA, British Columbia--(BUSINESS WIRE)--Jun 2, 2025-- Vecima Networks Inc. (VCM: TSX) today announced the launch of its Entra EN3400 Compact Generic Access Platform (GAP) Node, deployed as either a two-port, Remote PHY (R-PHY)-enabled cable access node supporting DOCSIS 4.0 or a two-port All-PON™ node. In October 2021, Vecima announced the Entra EN9000, the world's first commercially available GAP node, which is now in broad deployment with a Tier 1 Broadband Service Provider in North America. The EN3400 Compact GAP Node is a future-proof, 'Forever Node' with a 4.0 GHz-capable housing supporting the same DOCSIS 3.1 Remote PHY and 10G-EPON modules as the EN9000 today, while seamlessly evolving to XGS-PON, DOCSIS 4.0, NRoC (New Radio over Coax) and future HFC and PON solutions. Building on the interoperability of the EN9000, its open architecture allows operators to select the best solutions from a variety of vendors, driving down costs and ensuring network agility and scalability. Through future module upgrades for Unified DOCSIS 4.0, the EN3400 is targeting delivery of up to 20 Gbps downstream and 6 Gbps upstream as a Distributed Access Architecture (DAA) cable access node. In addition, the EN3400 offers flexible power options, including both standard AC power and 60/90V cable powering to support multi-dwelling unit, enterprise, and hospitality applications. This flexibility translates into significant long-term savings and operational efficiency by reducing the need for frequent hardware upgrades or replacements. 'The Entra EN3400 is the latest product from Vecima, building on the success of the original EN9000 GAP Node,' said Ryan Nicometo, Senior Vice President and General Manager, Video & Broadband Solutions. 'Designed for 4 GHz, the EN3400 is a high-performance, multi-application solution with a unique form factor suitable for MDU, hospitality, and enterprise deployments long into the future.' Learn more about the Entra EN3400 at This news release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements regarding Vecima's business strategies and objectives, and the anticipated benefits, performance, capabilities, availability or adoption of its products and services. Such statements reflect current expectations and assumptions about future events and are subject to risks and uncertainties. Vecima undertakes no obligation to update any forward-looking statements unless required by law. View source version on CONTACT: Vecima Networks, Inc. Media Relations:[email protected] Investor Relations: 250-881-1982,[email protected] KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: TECHNOLOGY AUDIO/VIDEO TELECOMMUNICATIONS MOBILE/WIRELESS SOFTWARE NETWORKS INTERNET SOURCE: Vecima Networks Inc. Copyright Business Wire 2025. PUB: 06/02/2025 07:30 AM/DISC: 06/02/2025 07:28 AM
Globe and Mail
22-05-2025
- Business
- Globe and Mail
Vecima and Net-Com to Deploy Entra® DAA Remote MACPHY with Hanstholm Net in Denmark
Vecima Networks Inc. (TSX: VCM) today announced that Net-Com is deploying Vecima's Entra® SC-1D Access Node and Entra® Access Controller ('EAC') solutions for Hanstholm Net, an internet service provider in Denmark. Vecima's Entra SC-1D Remote MACPHY node, a key component of the Entra Distributed Access Architecture ('DAA') product portfolio, equips cable operators to transition their networks toward greater efficiency and scalability. By moving MAC and PHY layer functions to the access edge, the SC-1D reduces core network load, lowers latency, and increases bandwidth availability, supporting efficient delivery of high-throughput services. With enhanced DOCSIS® 3.1 support for Remote MACPHY nodes, the Entra SC-1D Access Node delivers fiber-comparable performance over existing HFC networks. It offers a cost-effective, easily deployable, and future-ready path to 10 Gigabit Internet access while preserving existing infrastructure investments. Complementing the SC-1D, Vecima's EAC serves as a centralized management platform that orchestrates the complex interactions between the core network and distributed access devices. The EAC ensures seamless integration and optimal performance of the DAA ecosystem, facilitating advanced features such as dynamic bandwidth allocation and network virtualization. 'Our transition to Distributed Access Architecture with Vecima's Remote MACPHY solutions represents a strategic leap forward in both performance and scalability,' said Lars Røge Hamer, Chairman at Hanstholm Net. 'Achieving a reduction in headend power consumption by around 60 percent, while unlocking the scalability needed for multigigabit services allows us to operate more efficiently and deliver next-generation connectivity without compromise.' 'Hanstholm Net's adoption of Vecima's technology through Net-Com, marks a strategic advancement in its network infrastructure to support high-performance broadband delivery', said Gert K. Hansen, CTO at Net-Com. 'This partnership represents an important step forward as Vecima's reliable products and solid support align well with our plans to expand DOCSIS® services and support other operators as we continue to grow in Denmark.' Equipped for multigigabit downstream capacity and fully licensed to support additional bandwidth without incremental costs, the Entra SC-1D Access Node offers operators a future-ready platform with simplified deployment and minimal operational overhead. 'As part of Vecima's Remote MACPHY suite, the Entra SC-1D Access Node and Entra Access Controller together deliver significant performance gains and centralized orchestration, bridging the core network with distributed access devices through simplified, scalable control,' said Ryan Nicometo, Senior Vice President and General Manager, Vecima Video & Broadband Solutions. 'We are excited that our partnership with Net-Com is bringing Vecima's industry-leading access solutions to more operators in Europe. This reinforces our global market leadership in Remote MACPHY technologies.' The Vecima DAA portfolio, recognized by the Dell'Oro Group for the fourth consecutive year as the global market share leader in R-MACPHY and Remote Optical Line Terminal solutions ('R-OLT'), is deployed by operators around the world. Vecima will showcase its industry-leading cable and fiber access solutions, including the SC-1D, at ANGA COM 2025. Vecima Networks at ANGA COM 2025 June 3-5 in Cologne, Germany Stand A20, Hall 8 About Hanstholm Net Hanstholm Net is a local provider in Denmark, serving over 600+ cable TV customers, offering both television channels and high-speed internet. Their services are delivered via a hybrid network utilizing both coaxial cable and fiber optic infrastructure. Learn more at About Net-Com Net-Com is a Danish distributor specializing in a broad range of network equipment to support both small-scale and enterprise-level network infrastructures. With expertise in telecommunications and networking solutions, Net-Com facilitates superior connectivity across Denmark. Learn more at About Vecima Networks Vecima Networks Inc. (TSX: VCM) is leading the global evolution to the multi-gigabit, content-rich networks of the future. Our talented people deliver future-ready software, services, and integrated platforms that power broadband and video streaming networks, monitor and manage transportation, and transform experiences in homes, businesses, and everywhere people connect. We help our customers evolve their networks with cloud-based solutions that deliver ground-breaking speed, superior video quality, and exciting new services to their subscribers. There is power in connectivity – it enables people, businesses, and communities to grow and thrive. Learn more at This news release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements regarding Vecima's business strategies and objectives, and the anticipated benefits, performance, capabilities, availability or adoption of its products and services. Such statements reflect current expectations and assumptions about future events and are subject to risks and uncertainties. Vecima undertakes no obligation to update any forward-looking statements unless required by law.
National Post
22-05-2025
- Business
- National Post
Vecima and Net-Com to Deploy Entra® DAA Remote MACPHY with Hanstholm Net in Denmark
Article content VICTORIA, British Columbia — Vecima Networks Inc. (TSX: VCM) today announced that Net-Com is deploying Vecima's Entra® SC-1D Access Node and Entra® Access Controller ('EAC') solutions for Hanstholm Net, an internet service provider in Denmark. Article content Article content Vecima's Entra SC-1D Remote MACPHY node, a key component of the Entra Distributed Access Architecture ('DAA') product portfolio, equips cable operators to transition their networks toward greater efficiency and scalability. By moving MAC and PHY layer functions to the access edge, the SC-1D reduces core network load, lowers latency, and increases bandwidth availability, supporting efficient delivery of high-throughput services. Article content With enhanced DOCSIS® 3.1 support for Remote MACPHY nodes, the Entra SC-1D Access Node delivers fiber-comparable performance over existing HFC networks. It offers a cost-effective, easily deployable, and future-ready path to 10 Gigabit Internet access while preserving existing infrastructure investments. Article content Complementing the SC-1D, Vecima's EAC serves as a centralized management platform that orchestrates the complex interactions between the core network and distributed access devices. The EAC ensures seamless integration and optimal performance of the DAA ecosystem, facilitating advanced features such as dynamic bandwidth allocation and network virtualization. Article content 'Our transition to Distributed Access Architecture with Vecima's Remote MACPHY solutions represents a strategic leap forward in both performance and scalability,' said Lars Røge Hamer, Chairman at Hanstholm Net. 'Achieving a reduction in headend power consumption by around 60 percent, while unlocking the scalability needed for multigigabit services allows us to operate more efficiently and deliver next-generation connectivity without compromise.' Article content 'Hanstholm Net's adoption of Vecima's technology through Net-Com, marks a strategic advancement in its network infrastructure to support high-performance broadband delivery', said Gert K. Hansen, CTO at Net-Com. 'This partnership represents an important step forward as Vecima's reliable products and solid support align well with our plans to expand DOCSIS® services and support other operators as we continue to grow in Denmark.' Article content Equipped for multigigabit downstream capacity and fully licensed to support additional bandwidth without incremental costs, the Entra SC-1D Access Node offers operators a future-ready platform with simplified deployment and minimal operational overhead. 'As part of Vecima's Remote MACPHY suite, the Entra SC-1D Access Node and Entra Access Controller together deliver significant performance gains and centralized orchestration, bridging the core network with distributed access devices through simplified, scalable control,' said Ryan Nicometo, Senior Vice President and General Manager, Vecima Video & Broadband Solutions. 'We are excited that our partnership with Net-Com is bringing Vecima's industry-leading access solutions to more operators in Europe. This reinforces our global market leadership in Remote MACPHY technologies.' Article content The Vecima DAA portfolio, recognized by the Dell'Oro Group for the fourth consecutive year as the global market share leader in R-MACPHY and Remote Optical Line Terminal solutions ('R-OLT'), is deployed by operators around the world. Vecima will showcase its industry-leading cable and fiber access solutions, including the SC-1D, at ANGA COM 2025. Article content About Hanstholm Net Article content Hanstholm Net is a local provider in Denmark, serving over 600+ cable TV customers, offering both television channels and high-speed internet. Their services are delivered via a hybrid network utilizing both coaxial cable and fiber optic infrastructure. Learn more at Article content Net-Com is a Danish distributor specializing in a broad range of network equipment to support both small-scale and enterprise-level network infrastructures. With expertise in telecommunications and networking solutions, Net-Com facilitates superior connectivity across Denmark. Learn more at Article content Vecima Networks Inc. (TSX: VCM) is leading the global evolution to the multi-gigabit, content-rich networks of the future. Our talented people deliver future-ready software, services, and integrated platforms that power broadband and video streaming networks, monitor and manage transportation, and transform experiences in homes, businesses, and everywhere people connect. We help our customers evolve their networks with cloud-based solutions that deliver ground-breaking speed, superior video quality, and exciting new services to their subscribers. There is power in connectivity – it enables people, businesses, and communities to grow and thrive. Learn more at Article content This news release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, but are not limited to, statements regarding Vecima's business strategies and objectives, and the anticipated benefits, performance, capabilities, availability or adoption of its products and services. Such statements reflect current expectations and assumptions about future events and are subject to risks and uncertainties. Vecima undertakes no obligation to update any forward-looking statements unless required by law. Article content Article content Article content Article content Article content
National Post
15-05-2025
- Business
- National Post
Vecima Reports Q3 Fiscal 2025 Results
Article content Article content Adjusted EBITDA improved significantly from last quarter despite previously identified industry timing headwinds Entra vCMTS developments culminate in multi-year agreement with Cox Communications cementing Vecima as a vCMTS supplier of choice Vecima named 2024 global market share leader in DAA Remote Optical Line Terminals and Remote MACPHY nodes by Dell'Oro Group for the fourth consecutive year Article content VICTORIA, British Columbia — Vecima Networks Inc. (TSX: VCM) today reported financial results for the three and nine months ended March 31, 2025. Article content (Canadian dollars in millions except percentages, employees, and per share data) Q3FY25 Q2FY25 Q3FY24 Revenue $64.0 $71.2 $80.1 Gross Margin 6 47.7% 36.4% 48.4% Net Income (Loss) $1.2 $(7.9) $5.8 Earnings (Loss) Per Share 1 $0.05 $(0.32) $0.24 Adjusted Earnings (Loss) Per Share 1,2,3,4,5 $0.02 $(0.25) $0.31 Adjusted EBITDA 2,5 $9.4 $1.1 $17.2 Employees 582 590 591 1 Based on weighted average number of shares outstanding. 2 Adjusted Earnings Per Share and Adjusted EBITDA do not have a standardized meaning under IFRS and therefore may not be comparable to similar measures provided by other issuers. See 'Adjusted EBITDA and Adjusted Earnings Per Share' below. 3 For a reconciliation of Adjusted Earnings Per Share, investors should refer to Vecima's Management's Discussion and Analysis for the third quarter of fiscal 2025. 4 Adjusted earnings (loss) per share includes non-cash share-based compensation of $0.5 million or $0.02 per share for the three months ended March 31, 2025, and $0.3 million or $0.01 per share for the three months ended March 31, 2024. The non-cash share-based compensation primarily reflects certain performance-based vesting thresholds achieved under the Company's Performance Share Unit Plan. 5 Adjusted earnings (loss) per share and Adjusted EBITDA include foreign exchange gain of $0.3 million or $0.01 per share for the three months ended March 31, 2025, and a foreign exchange loss of $1.2 million or $0.05 per share for the three months ended March 31, 2024. 6 The Company has restated the FY24 Q3 comparative period for a change in commissions expense presentation. Refer to Note 22 of the Interim Condensed Financial Statements for the three-month period ended March 31, 2025. Article content 'Despite continued revenue headwinds related to the timing of some of our largest customers' cable and fiber upgrades, we achieved solid third quarter performance, with a gross margin of 47.7% and Adjusted EBITDA of $9.4 million,' said Sumit Kumar, President and CEO of Vecima. Article content 'Vecima also achieved a key strategic milestone with the signing of a multi-year agreement with Cox Communications for our Entra vCMTS solution shortly after quarter-end. This win now positions Vecima as a major player amongst a select group of suppliers in the fast-growing market for cloud-based vCMTS software, a market expected to grow to US$400 million over the next three years. We also continued to make significant progress on vCMTS lab trials with additional North American and global operators during the quarter, while also continuing to advance our DOCSIS 4.0 platform. As these and other opportunities begin to coalesce, and as a broader range of MSOs begin to undertake their own DAA upgrades, we see meaningful growth for Vecima both in the medium and longer term.' Article content 'As we anticipated, Video and Broadband Solutions segment revenues continued to be impacted by customer project timing, including finalization of the large-scale programs that will be executed as operators move towards broadening deployments using Vecima's Entra products and solutions across multiple markets. Delays to date have primarily reflected ongoing system level field qualifications outside of Vecima, which are typically challenging for customers undertaking very large system upgrades. Vecima's technology has continued to perform exceptionally well through these qualification processes, and we anticipate increased product rollouts once qualifications are completed. The VBS revenue impacts were partially offset by continued expansion of our node market share with ongoing volume shipments of our flagship EN9000, and further deployment of our EN8400 1.8GHz access nodes during the quarter. The EN9000 is pivotal technology that is expected to house successive generations of higher-margin software-driven access modules. As we have discussed previously, these platforms carry a lower margin when fulfilled on a standalone basis but ultimately help to drive higher margins as software-driven access modules are populated within the node. As such, adoption, deployment and hardwiring in of this future-proof node platform provides a powerful foundation for Vecima's future growth and success.' Article content 'Our Content Delivery and Storage segment performed strongly with revenue increasing 38% to $14.1 million as we carried out a major modernization and unification of a Tier 1 customer's Video on Demand network and as existing and new customers continued to undertake IPTV upgrades and expansions. With software sales providing a significant component of the Q3 product mix, the segment also achieved a higher-than-normal gross margin of 70%. While not expected to remain at this level in Q4, our Q3 margin performance provided an early hint of what Vecima's increasingly software-driven product profile can deliver.' Article content 'In the Telematics segment, third quarter revenues increased 32% year-over-year to $2.2 million. This included further recurring revenue growth related to net new subscriptions and asset tracking, as well as a one-time accounting adjustment in the period attributable to a change in how we account for certain products in the mix. Overall, Telematics performed strongly during the quarter, and we anticipate continued solid incremental growth from this segment.' Article content 'As we move into the final quarter of our fiscal year, we expect demand volatility could continue in our VBS segment depending on customer project timing. Trade actions between the U.S. and other countries add additional uncertainty to our outlook, although to date, impacts on the approximately 90% of our sales made to the U.S. have been negligible. We maintain a high degree of agility by owning our manufacturing process. With our manufacturing predominantly domiciled in Canada and so far exempt from tariff actions under USMCA agreements, our current position potentially gives us an advantage over competitors with greater exposure to offshore manufacturing. We continue to closely monitor tariff-related risks and have a long track record of responding quickly and successfully to changes in the macro environment.' Article content 'Longer term we are very excited about the opportunities ahead for Vecima. We are steadily improving our global market share leadership in the high-growth DAA and IPTV markets, earning new wins with the world's most sophisticated cable and broadcast providers. Our portfolio of highly interoperable cable and fiber access products and IPTV solutions not only give us multiple individual pathways to growth but, also positions us strategically as the industry gradually shifts to converged, more virtualized and unified solutions. We are confident in Vecima's future and our ability to create continued strong value for our customers and shareholders,' said Mr. Kumar. Article content Generated third quarter revenue of $64.0 million, compared to $80.1 million in Q3 fiscal 2024 and $71.2 million in Q2 fiscal 2025. Gross profit of $30.5 million, compared to $38.8 million in Q3 fiscal 2024 and $25.9 million in Q2 fiscal 2025. Gross margin of 47.7%, compared to 48.4% in Q3 fiscal 2024 and 36.4% in Q2 fiscal 2025. Adjusted EBITDA of $9.4 million, compared to $17.2 million in Q3 fiscal 2024 and $1.1 million in Q2 fiscal 2025. Earnings per share of $0.05 and adjusted earnings per share of $0.02, compared to loss per share and adjusted loss per share of $(0.32) and $(0.25), respectively, in Q2 fiscal 2025. Working capital of $60.3 million at March 31, 2025, compared to $84.9 million at June 30, 2024. Article content Video and Broadband Solutions (VBS) Article content The Video and Broadband Solutions segment generated sales of $47.7 million, a decrease of 30% year-over-year (Q3 fiscal 2024 – $68.2 million; Q2 fiscal 2025 – $59.3 million). Article content DAA (Entra Family) Article content Entra product sales of $43.5 million decreased from $56.2 million in Q2 fiscal 2025, reflecting temporary delays on customer DAA rollouts. Total customer engagements of 127 MSOs worldwide, compared to 113 a year earlier. Sixty-three of these customers are ordering Entra products as broader DAA deployment progresses. Subsequent to the quarter, on April 15, 2025, Cox Communications, a leading Tier 1 North American MSO, chose Vecima's Entra vCMTS to modernize and enhance its DOCSIS network. The Entra vCMTS solution is part of the Company's Entra Cloud platform of open interoperable, cloud-native applications, which enables operators to transform their networks for next-generation broadband access, maximizing performance while minimizing space, power and cost through virtualization. The multi-year agreement with Cox firmly positions Vecima in the rapidly growing global market for vCMTS and represents just one of multiple customers advancing towards vCMTS deployment with Vecima's solution. During the quarter, Entra vCMTS lab trials continued with several operators both in North America and globally. Made significant forward progress on the Entra DOCSIS 4.0 RPD platform which provides a critical pathway to unlocking next-generation multi-gigabit speed on our customers' platforms. Achieved excellent progress with Vecima's new Falcon V Principal Core technology, with the lead Tier 1 customer increasing license uptake. Additional uptake is anticipated in the fourth quarter as the Principal Core advances toward placement in the production cable access network environment. Vecima sees strong ongoing opportunities for Principal Core as a key enabler of multi-access network convergence and multi-vendor interoperability for customers. Interest also continues to grow in the new Falcon V Test Suite technology, which accelerates DAA deployments by ensuring customers can fully test new software in a multi-core multi-vendor environment. For the fourth consecutive year, Dell'Oro Group, a respected industry market research firm, named Vecima the global market share leader in two DAA segments for 2024: Remote Optical Line Terminals (R-OLT) for FTTH and Remote MACPHY cable access nodes. Article content Commercial Video product sales were in line with expectations at $4.2 million (Q3 fiscal 2024 – $7.2 million, Q2 fiscal 2025 $3.0 million). The decrease was primarily due to significant sales of the TC600E platform to our lead customer in Q3 fiscal 2024 and also reflects the continued transition to next-generation platforms and the impact of some of Vecima's newer DAA-driven Commercial Video solutions being accounted for as part of Entra family sales. Article content The Content Delivery and Storage segment increased sales by 38% to $14.1 million, from $10.2 million in both Q3 fiscal 2024 and Q2 fiscal 2025. Achieved a very strong CDS gross margin of 70.0% (Q3 fiscal 2024 – 63.4%; Q2 fiscal 2025 – 56.5%), reflecting a significant percentage of high-margin software sales in the product mix. Undertook a major modification and unification of a leading Tier 1 customer's Video On Demand (VOD) network, which not only expanded market share for Vecima, but also positioned the customer with significant new IPTV capacity and capabilities within its legacy VOD network. Acceleration of IPTV customer subscriber growth, with significant further migration from QAM to IPTV, underpinned by Vecima's MediaScale platforms. Continued to advance deployments of the MediaScale Dynamic Ad Insertion platform with new customers. Continued progress and development of the standards-driven MediaScale Open CDN platform. Following Q2 agreement with Digital Harmonic to exclusively resell its innovative dh/KeyFrame Media Optimization Solution, showcased the technology's ability to significantly elevate video quality while reducing content bit rates at the NAB Show in April 2025. Article content Telematics Article content Telematics segment sales grew 32% year-over-year to $2.2 million (Q3 fiscal 2024 – $1.7 million; Q2 fiscal 2025 – $1.7 million). The significant sales increase reflects ongoing growth in recurring revenue from net new subscriptions and asset tracking, as well as an accounting adjustment in the period for certain mobile asset tracking products that added a one-time revenue increase for the quarter. Added 15 new customers for the NERO asset tracking platform, including a single contract for over 1,200 vehicle subscriptions and 20,000 asset tags, representing a large new customer win. Secured additional deployments in high-value verticals, including municipal governments and moveable asset sectors such as the restoration industry. Achieved strong gross margin percentage of 65.4%. Article content As previously reported, Vecima's Board of Directors declared a quarterly dividend of $0.055 per share for the period. The dividend will be payable on June 23, 2025 to shareholders of record as at May 30, 2025. Article content A conference call and live audio webcast will be held today, May 15, 2025 at 1 p.m. ET to discuss the Company's third quarter results. Vecima's unaudited interim condensed consolidated financial statements and management's discussion and analysis for the three and nine months ended March 31, 2025 are available under the Company's profile at and at Article content To participate in the teleconference, dial 1-833-752-3965 or 1-647-849-3105. The webcast will be available in real time at and will be archived on the Vecima website at Article content Vecima Networks Inc. (TSX: VCM) is leading the global evolution to the multi-gigabit, content-rich networks of the future. Our talented people deliver future-ready software, services, and integrated platforms that power broadband and video streaming networks, monitor and manage transportation, and transform experiences in homes, businesses, and everywhere people connect. We help our customers evolve their networks with cloud-based solutions that deliver ground-breaking speed, superior video quality, and exciting new services to their subscribers. There is power in connectivity – it enables people, businesses, and communities to grow and thrive. Learn more at Article content Adjusted EBITDA and Adjusted Earnings Per Share do not have a standardized meaning under IFRS and therefore may not be comparable to similar measures provided by other issuers. Accordingly, investors are cautioned that Adjusted EBITDA or Adjusted Earnings Per Share should not be construed as an alternative to net income, determined in accordance with IFRS, as an indicator of the Company's financial performance or as a measure of its liquidity and cash flows. For a reconciliation of Adjusted EBITDA or Adjusted Earnings Per Share, investors should refer to Vecima's Management's Discussion and Analysis for the third quarter of fiscal 2025. Article content Forward-Looking Statements Article content This news release contains 'forward-looking information' within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words 'believes', 'may', 'plans', 'will', 'anticipates', 'intends', 'could', 'estimates', 'expects', 'forecasts', 'projects' and similar expressions, and the negative of such expressions. Forward-looking information in this news release includes the following statements: Entra vCMTS developments culminate in multi-year agreement with Cox Communications cementing Vecima as a vCMTS supplier of choice; despite continued revenue headwinds related to the timing of some of our largest customers' cable and fiber upgrades, we achieved solid third quarter performance; this win now positions Vecima as a major player amongst a select group of suppliers in the fast-growing market for cloud-based vCMTS software, a market expected to grow to US$400 million over the next three years; as these and other opportunities begin to coalesce, and as a broader range of MSOs begin to undertake their own DAA upgrades, we see meaningful growth for Vecima both in the medium and longer term; as we anticipated, Video and Broadband Solutions segment revenues continued to be impacted by customer project timing including finalization of the large-scale programs that will be executed as operators move towards broadening deployments using Vecima's Entra products and solutions across multiple markets; we anticipate increased product rollouts once qualifications are completed; pivotal technology that is expected to house successive generations of higher-margin software-driven access modules; adoption, deployment and hardwiring in of this future-proof node platform provides a powerful foundation for Vecima's future growth and success; while not expected to remain at this level in Q4, our Q3 margin performance provided an early hint of what Vecima's increasingly software-driven product profile can deliver; we anticipate continued solid incremental growth from this segment; as we move into the final quarter of our fiscal year, we expect demand volatility could continue in our VBS segment depending on customer project timing; trade actions between the U.S. and other countries add additional uncertainty to our outlook, although to date, impacts on the approximately 90% of our sales made to the U.S. have been negligible; with our manufacturing predominantly domiciled in Canada and so far exempt from tariff actions under USMCA agreements, our current position potentially gives us an advantage over competitors with greater exposure to offshore manufacturing; longer term we are very excited about the opportunities ahead for Vecima; our portfolio of highly interoperable cable and fiber access products and IPTV solutions not only give us multiple individual pathways to growth but, also positions us strategically as the industry gradually shifts to converged, more virtualized and unified solutions; we are confident in Vecima's future and our ability to create continued strong value for our customers and shareholders; the multi-year agreement with Cox firmly positions Vecima in the rapidly growing global market for vCMTS and represents just one of multiple customers advancing towards vCMTS deployment with Vecima's solution; additional uptake is anticipated in the fourth quarter as the Principal Core moves towards placement into the production cable access network environment; Vecima sees strong ongoing opportunities for Principal Core as a critical component enabling operators to achieve and manage a convergence of multi-access networks with multi-vendor interoperability. Article content A more complete discussion of the risks and uncertainties facing Vecima is disclosed under the heading 'Risk Factors' in the Company's Annual Information Form dated September 19, 2024, as well as the Company's continuous disclosure filings with Canadian securities regulatory authorities available at All forward-looking information herein is qualified in its entirety by this cautionary statement, and Vecima disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. Article content Article content VECIMA NETWORKS INC. Interim Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited – in thousands of Canadian dollars, except per share amounts) Three months Nine months Periods ended March 31, 2025 2024 2025 2024 Sales $ 63,979 $ 80,139 $ 217,107 $ 203,571 Cost of sales (1) 33,443 41,312 126,484 103,881 Gross profit (1) 30,536 38,827 90,623 99,690 Operating expenses Research and development 11,500 11,281 35,062 33,128 Sales and marketing (1) 8,238 7,721 24,937 23,828 General and administrative (1) 6,945 8,123 21,335 22,904 Restructuring costs – – 2,798 – Share-based compensation 486 272 1,494 785 Other expense 19 1,349 506 1,616 Total operating expenses 27,188 28,746 86,132 82,261 Operating income 3,348 10,081 4,491 17,429 Finance expense (2,033 ) (1,580 ) (6,751 ) (3,940 ) Foreign exchange gain (loss) 251 (1,159 ) (3,513 ) 94 Income (loss) before income taxes 1,566 7,342 (5,773 ) 13,583 Income tax expense (recovery) 384 1,542 (1,215 ) 2,449 Net income (loss) $ 1,182 $ 5,800 $ (4,558 ) $ 11,134 Other comprehensive income (loss): Item that may be subsequently reclassified to net income: Exchange differences on translation of foreign operations $ (786 ) $ 1,361 $ 4,303 $ 1,177 Comprehensive income (loss) $ 396 $ 7,161 $ (255 ) $ 12,311 Net income (loss) per share Basic $ 0.05 $ 0.24 $ (0.19 ) $ 0.46 Diluted $ 0.05 $ 0.24 $ (0.19 ) $ 0.46 Weighted average number of common shares Shares outstanding – basic 24,314,452 24,311,594 24,312,942 24,306,028 Shares outstanding – diluted 24,316,131 24,324,516 24,312,942 24,314,830 Article content VECIMA NETWORKS INC. Interim Condensed Consolidated Statements of Changes in Equity (unaudited – in thousands of Canadian dollars) Share capital Reserves Retained earnings Accumulated other comprehensive income (loss) Total Balance as at June 30, 2023 $ 23,997 $ 3,111 $ 190,926 $ (381 ) $ 217,653 Net income – – 11,134 – 11,134 Other comprehensive income – – – 1,177 1,177 Dividends – – (4,010 ) – (4,010 ) Shares issued by exercising options 120 (24 ) – – 96 Share-based payment expense – 785 – – 785 Balance as at March 31, 2024 $ 24,117 $ 3,872 $ 198,050 $ 796 $ 226,835 Balance as at June 30, 2024 $ 24,117 $ 4,120 $ 204,968 $ 1,755 $ 234,960 Net loss – – (4,558 ) – (4,558 ) Other comprehensive income – – – 4,303 4,303 Dividends – – (4,012 ) – (4,012 ) Shares issued by exercising options 35 (8 ) – – 27 Share-based payment expense – 1,494 – – 1,494 Balance as at March 31, 2025 $ 24,152 $ 5,606 $ 196,398 $ 6,058 $ 232,214 Article content VECIMA NETWORKS INC. Interim Condensed Consolidated Statements of Cash Flows (unaudited – in thousands of Canadian dollars) Three months Nine months Periods ended March 31, 2025 2024 2025 2024 OPERATING ACTIVITIES Net income (loss) $ 1,182 $ 5,800 $ (4,558 ) $ 11,134 Adjustments for non-cash items: Loss on sale of property, plant and equipment 6 – 105 19 Depreciation and amortization 6,238 5,953 17,966 16,556 Share-based compensation 486 272 1,494 785 Warrant expense (recovery) (974 ) 710 (1,739 ) 1,565 Income tax expense 1,258 2,088 4,181 6,069 Deferred income tax recovery (874 ) (546 ) (5,396 ) (3,620 ) Interest expense 2,283 1,584 6,788 3,946 Interest income (10 ) – (37 ) (4 ) Net change in working capital (10,902 ) (42,588 ) 24,482 (52,957 ) Decrease (increase) in other long-term assets 145 (158 ) 327 153 Increase (decrease) in provisions (434 ) (158 ) 380 (1,423 ) Increase in investment tax credits (40 ) (28 ) (134 ) (96 ) Income tax paid (38 ) (153 ) (1,151 ) (11,750 ) Interest received 12 2 39 6 Interest paid (2,302 ) (1,406 ) (7,053 ) (3,766 ) Cash provided by (used in) operating activities (3,964 ) (28,628 ) 35,694 (33,383 ) INVESTING ACTIVITIES Capital expenditures, net (601 ) (724 ) (1,928 ) (2,118 ) Deferred development costs (7,771 ) (6,524 ) (22,873 ) (19,834 ) Business acquisition, net of cash acquired – – (3,881 ) – Cash used in investing activities (8,372 ) (7,248 ) (28,682 ) (21,952 ) FINANCING ACTIVITIES Net draws (repayments) of the revolving line of credit 13,608 37,646 (6,012 ) 61,199 Principal repayments of lease liabilities (405 ) (367 ) (1,060 ) (1,275 ) Principal repayments of long-term debt (608 ) (521 ) (1,468 ) (1,121 ) Proceeds from short-term debt 935 919 935 919 Proceeds from shareholder loan – – 5,000 – Dividends paid (1,338 ) (1,337 ) (4,012 ) (4,010 ) Issuance of shares through exercised options 12 9 35 96 Cash provided by (used in) financing activities 12,204 36,349 (6,582 ) 55,808 Net increase in cash and cash equivalents (132 ) 473 430 473 Effect of change in exchange rates on cash (737 ) 222 (1,079 ) 530 Cash and cash equivalents, beginning of period 2,356 2,586 2,136 2,278 Article content Article content Article content Article content Article content Article content
