Mr. Zachariah Mathews reports

WI2WI CORPORATION ANNOUNCES THREE MONTHS ENDING MARCH 31, 2023 (UNAUDITED)

Wi2Wi Corp. has released its unaudited consolidated financial results for the first quarter of 2023 ended March 31, 2023. The company reports substantial revenue growth and confidently projects this positive trend will continues into the second half of the year.

Key financial highlights

In Q1 2023, Wi2Wi generated $1.84-million in revenue, up from $1,592,000 in the previous period. The company continues to retain and grow within its core customer base and expanded its products and services to new customers and markets.

The company continues to see margin pressures primarily related to increases in raw material costs and freight charges. The company expects margin pressure to ease as inflation cools, supply chain disruptions ease and revenue from orders in the pipeline is booked.

"Winning the Outstanding Supplier recognition award from the industry leader Collins Aerospace not only shows the confidence of our customer base in the company as their trusted critical components supplier partner in such chaotic economy, but also indicates the turning around in the marketplace. Collins present such award from their suppliers base to a few who continuously meet or exceed the desired quality requirements, on-time delivery, and timely technical support and other parameters," said Zachariah Mathews, chief executive officer of Wi2Wi. "As the design in and qualification processes complete by our new customers in the coming months, we expect revenue growth with the existing and new customers as we go into the second half of the year."

About Wi2Wi Corp.

Wi2Wi enables customers to substantially reduce their wireless R&D (research and development) expenses and time to market. Wi2Wi designs, manufactures and markets deeply integrated, end-to-end wireless connectivity solutions as well as customizable, high performance timing and frequency control devices. Wi2Wi provides real-time technical support throughout the entire product life cycle for customers across the Internet of Things (IoT), Industrial Internet of Things (IIoT), avionics, space, industrial, medical and government sectors.

Wi2Wi was founded in 2005 and is strategically headquartered in San Jose, Calif., with satellite offices in Middleton, Wis., and Hyderabad, India. Wi2Wi's manufacturing operations and its laboratory for reliability and quality control, together with design and engineering for timing and frequency control devices, are located in Middleton, Wis. The branch office, located in Hyderabad, India, focuses on developing end-to-end wireless connectivity subsystems and solutions.

Wi2Wi has partnered with best-in-class global leaders in technology, manufacturing and sales. The company uses a global network of manufacturer's representatives to promote its products and services and has partnered with world-class distributors for the fulfilment of orders, along with direct sales.

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