Sierra Wireless President and CEO, Kent Thexton, and CFO, David McLennan, will host a conference call and webcast with analysts and investors to review the results on Thursday February 13, 2020, at 5:30 PM Eastern time (2:30 PM Pacific time). •We generated ~$90 million in LTARR (Long Term Annual Recurring Revenue) in 2019 which is defined as est. Sierra Wireless Revenue (TTM): 697.28M for March 31, 2020. Our third quarter 2019 financial results reflect the adoption of this new standard. The company operates through two segments, IoT Solutions and Embedded Broadband. Non-GAAP gross margin excludes the impact of stock-based compensation expense and related social taxes and certain other nonrecurring costs or recoveries. where otherwise stated), Stock-based compensation and related social taxes, Earnings (loss) from operations - Non-GAAP, Stock-based compensation and related social taxes, restructuring, impairment, acquisition-related, integration and other non-recurring costs (recoveries), Amortization (exclude acquisition-related amortization), Investor and Media Contact: Operating expenses were $54.0 million and loss from operations was $2.7 million in the fourth quarter of 2019 compared to operating expenses of $55.7 million and earnings from operations of $10.2 million in the fourth quarter of 2018. Vancouver, Canada-January 09, 2019 Sierra Wireless (NASDAQ: SWIR) (TSX: SW), the leading provider of fully integrated device-to-cloud solutions for the Internet of Things (IoT), today announced its award-winning Ready-to-Connect solutions are in mass production. These risk factors and others are discussed in our Annual Information Form and Management's Discussion and Analysis of Financial Condition and Results of Operations, which may be found on SEDAR at. Are based on a number of material assumptions, including, but not limited to, those listed below, which could prove to be significantly incorrect: our ability to recruit a new Chief Financial Officer, Are based on our management's current expectations and we caution investors that forward-looking statements, particularly those that relate to longer periods of time, are subject to substantial known and unknown material risks and uncertainties. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support All results are reported in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles (GAAP), except as otherwise indicated below. Revenue for the third quarter of 2019 was $174.0 million compared to $203.4 million in the third quarter of 2018. We also use non-GAAP earnings from operations as one component in determining short-term incentive compensation for management employees. AirPrime, AirLink, AirVantage, mangOH and Legato are trademarks of Sierra Wireless. Companies globally are adopting IoT to improve operational efficiency, create better customer experiences, improve their business models and create new revenue streams. We also use non-GAAP earnings from operations as one component in determining short-term incentive compensation for management employees. The decrease in cash was mainly due to working capital and capital expenditure requirements, partially offset by sale of receivables under our receivables purchase program and proceeds from sale of an investment. Other product or service names mentioned herein may be the trademarks of their respective owners. To participate in this conference call, please dial the following number approximately ten minutes prior to the start of the call: To access the webcast, please follow the link below: Sierra Wireless Q4 2019 Conference Call and Webcast. Are not promises or guarantees of future performance. We caution you that forward-looking statements may not be appropriate for other purposes. On a reporting segment basis, our expectation is that IoT Solutions revenue will grow 7% to 10% year-over-year and Embedded Broadband revenue will decline by 12% to 15% year-over-year. We are adjusting our profitability guidance of Adjusted EBITDA to be approximately $23 million and non-GAAP EPS to be in the range of zero to 3 cents. This segment of the business has been growing rapidly over the last several years. Forward-looking statements are provided to help you understand our views of our short and long term plans, expectations and prospects. Revenue for the fourth quarter of 2019 was $174.3 million compared to $201.4 million in the fourth quarter of 2018. Sierra Wireless, which belongs to the Zacks Wireless Equipment industry, posted revenues of $191.37 million for the quarter ended June 2019, surpassing the Zacks Consensus Estimate by 0.75%. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. Subscription, support and other services revenue in the third quarter was $24.6 million, representing 14% of consolidated revenue and Product revenue was $149.4 million, representing 86% of consolidated revenue. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support Sierra doesn't disclose that exact figure separately right now, but its total "subscription, support, and other" revenue hit $72.6 million in the first nine months of 2019. Que faire avec les titres de Gildan, Power Corp. et Sierra Wireless? For more information, visit www.sierrawireless.com. +1 (604) 231-1181 +1 (604) 231-1137 Do the numbers hold clues to what lies ahead for the stock? Certain statements and information in this press release are not based on historical facts and constitute forward-looking statements or forward-looking information within the meaning of the U.S. In addition to the above, non-GAAP net earnings (loss) and non-GAAP net earnings (loss) per share exclude the impact of foreign exchange gains or losses on translation of certain balance sheet accounts, foreign exchange gains or losses on forward contracts and certain tax adjustments. We adopted the new accounting standard for lease accounting (ASC 842) effective January 1, 2019. Cautionary Note Regarding Forward-Looking Statements. A live slide presentation will be available for viewing during the call from the link provided below. Preferred stock: no par value; unlimited shares authorized; Treasury stock: at cost; 44,487 shares (December 31, 2018 – 119,584 shares), Cash flows provided by (used in) operating activities, Proceeds from sale of property and equipment, Issuance of common shares, net of issuance cost, Repurchase of common shares for cancellation, Purchase of treasury shares for RSU distribution, Taxes paid related to net settlement of equity awards, Effect of foreign exchange rate changes on cash and cash equivalents, Cash, cash equivalents and restricted cash, increase (decrease) in the period, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period, RECONCILIATION OF GAAP AND NON-GAAP RESULTS BY QUARTER, (in thousands of U.S. dollars, except where otherwise stated), Stock-based compensation and related social taxes, Realized gains (losses) on hedge contracts, Earnings (loss) from operations - Non-GAAP, Stock-based compensation and related social taxes, restructuring, impairment, acquisition-related, integration and other nonrecurring costs (recoveries), Amortization (exclude acquisition-related amortization), Investor and Media Contact: Many factors could cause our actual results, achievements and developments in our business to differ significantly from those expressed or implied by our forward-looking statements, including without limitation, the following factors. We believe the M2M Group has a solid platform for us to increase our IoT services and solutions in Australia and Southeast Asia. Moving to results for the first quarter. They represent our current views and may change significantly. Revenue for the third quarter of 2019 was $174.0 million compared to $203.4 million in the third quarter of 2018. See "Cautionary Note Regarding Forward-Looking Statements" below. We announced just over a year ago our strategy […] David G. McLennan Many factors could cause our actual results, achievements and developments in our business to differ significantly from those expressed or implied by our forward-looking statements, including without limitation, the following factors. Adjusted EBITDA is a metric used by investors and analysts for valuation purposes and is an important indicator of our operating performance and our ability to generate liquidity through operating cash flow that will fund future working capital needs and fund future capital expenditures. All results are reported in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles (GAAP), except as otherwise indicated below. ET. Typically include words and phrases about the future such as "outlook", "will", "may", “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategy”, “goals”, “objectives”, “potential”, “possible”, or variations thereof. We use the above-noted non-GAAP financial measures for planning purposes and to allow us to assess the performance of our business before including the impacts of the items noted above as they affect the comparability of our financial results. View the latest SWIR financial statements, income statements and financial ratios. investor@sierrawireless.com, Revenue: $713.5 million, lower by 10.1% year-over-year; recurring and other services revenue was 13.9% of annual revenue compared to 11.9% in 2018, Loss per share: GAAP loss: $1.95; Non-GAAP loss: $0.01, Revenue: $174.3 million, lower by 13.5% year-over-year; recurring and other services revenue was 15.2% of quarterly revenue compared to 11.6% in 2018, Loss per share: GAAP loss: $0.30; Non-GAAP loss: $0.08, Adjusted earnings before interest, taxes, depreciation and amortization ("Adjusted EBITDA"): $2.3 million. The webcast will remain available at the above link for one year following the call. Toll-free (Canada and US): 1-877-201-0168. Readers are cautioned that non-GAAP financial measures do not have any standardized meaning prescribed by U.S. GAAP and therefore may not be comparable to similar measures presented by other companies. The business is an excellent strategic fit with our IoT Solutions business with slightly more than half of the M2M Group’s revenue coming from subscription-based recurring revenue. Do the numbers hold clues to what lies ahead for the stock? See insights on Sierra Wireless including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Annual revenue for the two business segments was as follows: (i) Revenue from IoT Solutions was $377.8 million in 2019, up 1.0% compared to $373.9 million in 2018 due to strong contributions from our recurring and other services revenue, as well as our Enterprise gateway products; partially offset by lower revenue from Integrated IoT solutions modules. These non-GAAP measures are reviewed regularly by management and the Board of Directors as part of the ongoing internal assessment of our operating performance. The increase in cash was primarily due to cash flow from operating activities, partially offset by capital expenditures. Within the IoT Solutions segment, excluding iTank (which was sold at the end of 2018), recurring and other services revenue was up 16.3% in the fourth quarter of 2019 compared to the same period of 2018; and (ii) Revenue from Embedded Broadband was $83.4 million in the fourth quarter of 2019, down 21.1%, compared to $105.7 million in the fourth quarter of 2018 due to weaker sales to mobile computing and networking customers, offset by a modest increase in sales to automotive customers. +1 (604) 231-1137 If the above link does not work, please copy and paste the following URL into your browser: http://event.on24.com/r.htm?e=2085944&s=1&k=4232F700F34737CD88F6E9DE09003738. Adjusted EBITDA is a metric used by investors and analysts for valuation purposes and is an important indicator of our operating performance and our ability to generate liquidity through operating cash flow that will fund future working capital needs and fund future capital expenditures. AirPrime, AirLink, AirVantage, mangOH and Legato are trademarks of Sierra Wireless. Forward-looking statements are provided to help you understand our views of our short and long term plans, expectations and prospects. Vice President, Investor Relations Contents: Prepared Remarks. Net loss was $70.5 million, or $1.95 per diluted share, in 2019 compared to net loss of $24.6 million, or $0.68 per diluted share, in 2018. Sierra Wireless will demonstrate Octave at the seventh annual Sierra Wireless Innovation Summit, October 23-24, 2019, at the Paris Novotel Tour Eiffel. Whether it is a solution to help a business securely connect edge devices to the cloud, or a software/API solution to help manage processes associated with billions of connected assets, or a platform to extract real-time data to make the best business decisions, Sierra Wireless will work with you to create the right industry-specific solution for your next IoT endeavor. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. Fourth-quarter 2019 revenues fell 13.5% from a year ago, driven by the stubbornly declining "embedded broadband" segment -- with mobile and networking sales … The M2M Group is focused on IoT connectivity services and cellular devices in Australia, and the acquisition expands the Company's IoT Solutions business in the Asia-Pacific region. Its revenue fell 13% annually to … They represent our current views and may change significantly. Forward-looking statements, particularly those that relate to longer periods of time, are subject to substantial known and unknown risks and uncertainties that could cause actual events or results to differ significantly from those expressed or implied by our forward-looking statements, including those described in our regulatory filings. Non-GAAP income tax expense includes certain tax adjustments and taxes on acquisition-related amortization, acquisition-related and integration costs, restructuring costs, other non-recurring costs and foreign exchange. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE EARNINGS (LOSS), (In thousands of U.S. dollars, except where otherwise stated), Foreign currency translation adjustments, net of taxes of $nil, Weighted average number of shares outstanding (in thousands), Common stock: no par value; unlimited shares authorized; issued and, outstanding: 336,233,361 shares (December 31, 2018 – 36,067,415 shares). Revenue for the second quarter of 2019 was $191.4 million compared to $201.9 million in the second quarter of 2018. Annual stock financials by MarketWatch. Sierra Wireless (SWIR) delivered earnings and revenue surprises of -66.67% and -9.22%, respectively, for the quarter ended September 2019. “We had a record quarter in new recurring services wins and our services pipeline is growing. Sierra Wireless has 1,280 employees across 14 locations and $713.51 M in annual revenue in FY 2019. “We announced just over a year ago our strategy to transform from a hardware-focused IoT company to delivering full IoT solutions with recurring revenue attached to our market leading IoT devices. Total cash consideration paid to the shareholders of M2M Group was $19.6 million for 100% of the equity plus approximately $1.1 million for the retirement of certain obligations, subject to normal working capital adjustments. (December 31, 2018 – $2,968), Common stock: no par value; unlimited shares authorized; issued and outstanding: 36,197,137 shares (December 31, 2018 – 36,067,415 shares), Preferred stock: no par value; unlimited shares authorized; issued and outstanding: nil shares, Treasury stock: at cost; 9,612 shares (December 31, 2018 – 119,584 shares), Cash flows provided by operating activities, Proceeds from sale of property and equipment, Repurchase of common shares for cancellation, Purchase of treasury shares for RSU distribution, Taxes paid related to net settlement of equity awards, Effect of foreign exchange rate changes on cash and cash equivalents, Cash, cash equivalents and restricted cash, increase (decrease) in the period, Cash, cash equivalents and restricted cash, beginning of period, Cash, cash equivalents and restricted cash, end of period, RECONCILIATION OF GAAP AND NON-GAAP RESULTS BY QUARTER, (in thousands of U.S. dollars, except (1) See "Non-GAAP Financial Measures" and "Reconciliation of GAAP and Non-GAAP Results by Quarter" below. 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