NeraTel's 1Q24 revenue tumbles 44.7% despite surge in order intake

Its gross profit also dropped 42.4% in 1Q24.

NeraTel's revenue fell 44.7% to $22.3m in 1Q24 from $40.3m in 1Q23, whilst gross profit decreased 42.4% to $4.9m from $8.5m. 

The company attributed the decline to lower contributions from its Government, Transport, Utilities (GTU), and Service Provider (SP) segments, partially offset by higher contributions from the Enterprise segment, which rose 31.4% to $4.6m.

Meanwhile, its order intake grew 61.1% to $47.2m from $26.5m as it continued to pursue high-value projects as part of its transformation.

Its GTU segment saw the largest growth, with order intake soaring to $13.2m from $4.m, followed by the SP and ENT segments, which increased by 28.4% and 64.5%, reaching $24.4m and $5.1m, respectively.