QUEBEC, QC / ACCESS Newswire / September 2, 2025 / NuRAN Wireless Inc. ("NuRAN" or the "Company") (CSE:NUR)(OTC:NRRWF)(FSE:1RN), a leading supplier of mobile and broadband wireless infrastructure solutions, is pleased to announce its financial results for the quarter ended June 30, 2025.
Highlights of the Company's financial results for the six months ended June 31, 2025, include the following:
During the second quarter, management was informed by its MNO client of an error in their billing system that resulted in a segment of traffic being incorrectly billed as international due to area code misallocation. Prefixes not identified as local calls were classified as international calls or SMS, leading to revenue calculations exceeding local tariffs by ten times or more. The issue arises from their introduction of new area codes to accommodate increasing mobile penetration; however, these numbers were not configured as local calls, resulting in their classification as international calls by default. As a result of the billing information provided to NuRAN, which was used to generate our invoice to them, was overstated. The Company has adjusted Q1 revenue and Q2 revenue to reflect the current billing information provided by its client. While the situation is not finally resolved, the two parties are currently assessing and negotiating a definitive solution for this issue.
While NaaS revenue per site is negatively impacted, the Company reports that this is still in line with its initial projections for site economics, specifically gross margin and EBITDA as well as (ROI) return on investment. Even after accounting for the additional sites brought live, the growth in revenue over 2024 shows the strong performance of the NaaS business model. Although EBITDA is a non-GAAP measure, the Q2 results remain positive, bolstered by prior year adjustments. In addition, the ongoing Cameroon rollout, the relocation of low traffic sites in the DRC, resumption of operations in Ghana following the MOU, new country deployments, and 3G network expansion are all expected to mitigate the short-term effects of international tariffs on global revenue.
NuRAN Wireless's second quarter financial results reflect a company in transition, striving for operational sustainability even as it invests in growth. Revenue climbed to $2.9M for the six months ended June 30, 2025, marking a robust 39% increase over the prior period-a surge largely driven by the expansion of its NaaS model. Gross profit margin remained healthy, suggesting stable cost management despite scaling operations. Notably, total expenses decreased reflecting improved cost discipline, though elevated financial expenses related to short-term debt did weigh on overall profitability. The net loss widened by 9% to $5,319,261, indicating that while topline growth is accelerating, the company continues to prioritize network expansion and strategic investments over immediate profitability. Collectively, these figures highlight NuRAN's commitment to bridging the digital divide, balancing short-term financial pressures with long-term growth aspirations.
"As we reflect on our Q2 results, I am pleased with the progress NuRAN has made in expanding our network and delivering strong revenue growth. Despite short-term challenges, our team's dedication and operational achievements have laid a solid foundation for continued momentum. With our Network as a Service model gaining traction and new sites coming online, we are confident in our path to sustainable growth and our mission to connect underserved communities around the world."- Francis Létourneau, President and CEO of NuRAN Wireless Inc.
Highlights from the Quarter and Recent Announcements Include:
About NuRAN Wireless:
NuRAN Wireless is a leading rural telecommunications company that meets the growing demand for wireless network coverage in remote and rural regions around the globe. With its affordable and innovative scalable solutions of 2G, 3G, and 4G technologies, NuRAN Wireless offers a new possibility for more than one billion people to communicate effectively over long distances efficiently and affordably. "Bridging the Digital Divide, One Connection at a Time."
Neither the Canadian Securities Exchange nor its Market Regulator (as defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements