Airspan Networks Holdings Inc. (MIMO)·Q2 2022 Earnings Summary

Executive Summary

• Q2 2022 revenue of $46.9M grew 25% sequentially and 12% YoY; gross margin improved to 40.1% from 32.1% in Q1, though below 45.7% in Q2 2021 .
• Loss per share improved sequentially to $0.29 loss (vs $0.41 loss in Q1), but worsened YoY vs $0.17 loss in Q2 2021; Adjusted EBITDA loss narrowed to $12.3M from $18.0M in Q1 .
• Q3 2022 guidance: revenue $42–48M and gross margin 38–40%, with continued supply chain constraints (component availability, COVID restrictions in Asia) cited as headwinds .
• Demand catalysts: >60 private network adds in Q2 (total design wins >300), two new global web-scale cloud purchase agreements, and a Tier 1 US cable MSO purchase order; management highlighted CHIPS Act $1.5B allocation for Open RAN development as supportive .

What Went Well and What Went Wrong

What Went Well

• Sequential acceleration: revenue +25% QoQ to $46.9M; gross margin expanded to 40.1% from 32.1% in Q1 .
• Private networks momentum: over 60 new 4G/5G private networks added in Q2, total design wins >300; two new global web-scale cloud purchase agreements; Tier 1 US cable MSO PO signed .
• Management confidence on demand: “We continue to execute our growth plan and see healthy demand for our innovative products and solutions… encouraged by concrete government action on the CHIPS Act… allocates $1.5B for Open RAN technology development.” — CEO Eric Stonestrom .

What Went Wrong

• Profitability still pressured: net loss of $21.0M and Adjusted EBITDA loss of $12.3M; YoY margin compression (40.1% vs 45.7% last year) reflects cost inflation and supply chain pressures .
• Services revenue softness: maintenance/warranty/services revenue was $2.9M vs $3.99M in Q1 and $7.26M in Q2 2021, weighing on mix .
• Ongoing supply chain headwinds: guidance and commentary flagged component availability and Asia COVID restrictions as near-term constraints; similar pressures were highlighted in Q4 2021 and Q1 2022 updates .

Financial Results

Sequential Trend (Q4 2021 → Q1 2022 → Q2 2022)

Year-over-Year Comparison (Q2 2021 → Q2 2022)

Segment Revenue Breakdown

KPIs

Guidance Changes

Earnings Call Themes & Trends

Management Commentary

• “We continue to execute our growth plan and see healthy demand for our innovative products and solutions… we are encouraged by concrete government action on the CHIPS Act, which currently allocates $1.5B for Open RAN technology development… However, the supply chain environment continues to impact sales and margin as seen in the near-term outlook.” — Eric Stonestrom, Chairman & CEO .
• “Four of our largest customers signed new purchase orders during the quarter. We continue to see growing demand in the core markets we serve, namely mobile networks, private networks and fixed wireless.” — Glenn Laxdal, President & COO .
• Prior quarter tone: management underscored “meaningfully impacting” supply chain effects on sales/margins while noting new POs and private network deployments in US/Europe ; Q4 commentary detailed component availability, spot pricing, and shipping cost pressures .

Q&A Highlights

• Full Q2 2022 earnings call transcript is available on third-party sites; our primary document tool experienced retrieval errors for the transcript. Reference sources: .
• Due to access limitations, specific Q&A details could not be verified directly; management’s guidance clarifications and supply chain commentary are reflected in the press release and 8-K .

Estimates Context

• Wall Street consensus via S&P Global was unavailable for MIMO at the time of analysis due to a mapping issue in the CIQ company database; as a result, we cannot present EPS or revenue consensus comparisons for Q2 2022 [SpgiEstimatesError].
• Investors should focus on the company’s delivery vs prior guidance (Q2 revenue and GM achieved within guided ranges) and the Q3 guide ($42–48M revenue; 38–40% GM) as benchmarks for near-term expectations .

Key Takeaways for Investors

• Sequential recovery with margin expansion: Q2 revenue rebounded to $46.9M (+25% QoQ) and GM rose to 40.1%, indicating improved mix/pricing despite ongoing supply chain costs .
• Demand indicators are strong: private networks adds (60+) and design wins (>300), plus new web-scale cloud agreements and Tier 1 cable MSO PO support multi-vertical growth (mobile, private, FWA) .
• Near-term watch items: component availability and Asia COVID restrictions remain binding constraints in Q3 guidance; monitor fulfillment cadence and GM realization (38–40%) .
• Liquidity trend: cash and cash equivalents fell to $36.3M at Q2 from $62.9M at year-end 2021; CFO used over H1 2022 totaled $(22.5)M (Q2 implied CFO ≈ $(7.6)M), highlighting the importance of working capital discipline and potential financing needs if losses persist .
• Policy tailwinds: CHIPS Act’s $1.5B Open RAN allocation could catalyze ecosystem spending and Airspan’s differentiation in Open RAN; track program disbursements and eligibility .
• Trading setup: with results roughly in-line with prior guidance and improved sequential margins, the next catalyst is Q3 delivery vs guide and any updates on supply chain normalization; positive surprise could come from accelerating deployments in cable MSO and private networks .

Appendix: Additional Relevant Press Releases (Q2 2022)

• Airspan Networks Holdings Inc. Reports Second Quarter 2022 Results (full press release) .
• Awards as a Technology Compass (Small Cell Forum awards overview) .

Cross-References

• Q2 2022 8-K and Exhibit 99.1 (press release) with full financial statements and non-GAAP reconciliations .
• Q1 2022 press release (8-K Exhibit 99.1) including guidance and supply chain commentary .
• Q4 2021 press release (8-K Exhibit 99.1) and investor presentation for context on supply chain pressures and margin dynamics .