Winnipeg, Manitoba--(Newsfile Corp. - November 26, 2024) - Novra Technologies Inc. (TSXV: NVI) is pleased to announce a series of substantial new orders in the fourth quarter of 2024, marking a strong rebound following a period of weak bookings in the previous three quarters. At the halfway point of our Q4, orders total over $2.3 million, close to the total combined bookings from the first three quarters of 2024.
Several orders were expected earlier in 2024 and slipped into Q4, reflecting an ongoing market trend. Over the past 15 months, due to uncertainties in geopolitics, interest rates, and the US elections, we have seen promising sales opportunities being significantly delayed, many into 2025.
The recent key orders we have received span several of our distinct product lines and areas of expertise. They demonstrate Novra's market leadership and validate Novra's strategic approach, as well as our considerable R&D investments in the broadcast technology market. Above all, they show that our new products and solutions are an integral part of our clients operations and when they are able to invest in their technology infrastructure, they continue to select our solutions.
Radio Order
Among the highlights is an order to supply next-generation distribution infrastructure for a major European nationwide broadcast radio network. The scope of this project leverages International Datacasting's (IDC's) advanced MAP Pro Audio receivers and control technology for multiple control centers, each using a satellite connection, to deliver a state-of-the-art solution for reliable and efficient audio content distribution to hundreds of radio stations. Due to the substantial scope of this project and the customer's schedule requirements, we will start deliveries for this order in late 2024 and continue into early 2025. While confidentiality agreements prevent us from disclosing further details at this time, our selection for this project reinforces Novra Group's reputation for delivering robust and innovative solutions for leading broadcasters worldwide.
Digital Signage
We received multiple orders from a prominent digital signage customer to provide equipment for a large health video network and another order to expand the digital signage network of an international bank. These orders further solidifying our strong relationships with key long-term partners.We continue to enhance our digital signage product line to meet the evolving needs of specific customers and the market as a whole.
IP infrastructure
A new order from a US based weather data service for a number of our IPE-4000A IP Encapsulators reflects our continued longevity in key internet protocol infrastructure technology. As one of our suite of standard product offerings, which consistently ship from inventory, this order will also ship in Q4.
We are now taking orders for our next-generation IP Encapsulator that will begin shipping in early 2025. We expect additional orders for this product from a number of our customers, including defense industry clients, over the next several quarters and we are building up inventory to be positioned to ship these orders as received.
Strategic Implications and Outlook
"While 2024 has been a challenging year, these Q4 orders signal a positive shift for Novra," said Harris Liontas, CEO. "Achieving approximately $2.3 million in bookings by mid-Q4 demonstrates significant momentum and highlights our ability to navigate market complexities while delivering world-class solutions, and we're cautiously optimistic about carrying this momentum into 2025."
These recent successes highlight both the challenges and opportunities in today's evolving broadcast technology landscape. As Novra Technologies continues to innovate and adapt, we remain committed to providing our customers with the tools they need to thrive in a rapidly changing market.
About Novra Technologies Inc.:
Novra (TSXV: NVI) (OTCQB: NVRVF) is an international technology provider of products, systems and services for the distribution of multimedia broadband content. The Novra Group of companies includes Novra Technologies Inc, International Datacasting Corporation, and Wegener Corporation. The companies in the group are known for a strong focus on applications,including: broadcast video and radio, digital cinema, digital signage, and highly reliable data communications.
For more information visit: www.novragroup.com
Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of applicable Canadian securities laws, concerning but not limited to anticipated developments in our operations in future periods. Forward-looking statements are generally identifiable by words such as "expect", "anticipate", "believe", "intend", "estimate", "predict", "outlook", "opportunity", "momentum", "potential", "proposed", "targeted", "plans" "possible", "positive indication for", "looking forward to", "getting ready to", "optimistic about", "is starting to", and similar expressions, or statements that events, conditions or results "will", "may", "could" or "should" occur or be achieved. As such, forward-looking statements are not historical facts but reflect our current assumptions and expectations regarding future events. These are subject to a number of risk and uncertainties that could cause actual results or events to differ materially from current expectations and assumptions. Some of these risks and uncertainties are described under the "Risks and Uncertainties" section of Novra's MD&A.
For the above reasons, readers are cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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CONTACT:
Diana Cantu, VP Marketing & Sales
+1-613-596-4120 x2202
dcantu@datacast.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231527
SOURCE: Novra Technologies Inc.
