Airspan Sharpens Focus on 4G/5G Open RAN and Private Networks; Reports Preliminary 2022 Results

BOCA RATON, Fla.-- In conjunction with the announced signing of an agreement to divest its subsidiary Mimosa Networks, Inc. (“Mimosa”), Airspan Networks Holdings Inc. (NYSE American: MIMO) (“Airspan” or the “Company”) is announcing unaudited revenue for FY22 and 4Q22 of $167.3 million and $41.7 million as well as FY22 Gross Profit of $66.4 million (39.7% gross margin) and 4Q22 Gross Profit of $19.2 million (46.1% gross margin). Mimosa revenues for 2022 were approximately $25 million.

With the pending divestment of the company’s Mimosa subsidiary, Airspan has sharpened its focus as a pure-play in 4G/5G Open RAN and private networks. As such, the Company’s Board of Directors is exploring several strategic directions and has approved the appointment of PJT Partners to pursue various options to optimize shareholder value.