PC TEL INC
pctel.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 8, 2023. Its latest SEC filing is a SC 13G/A from Feb 13, 2024.
10-Q for Q3 FY2023, filed Nov 8, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Designs and sells antennas and Industrial IoT devices, plus wireless network test products, for mobile operators, enterprises, and network equipment makers.
10-K for FY2022, filed Mar 16, 2023
How Did They Make Money?
Most equipment sales are paid for when shipped or delivered, with payment terms generally 30 to 90 days; software support, warranties, and data storage are provided over time.
10-K for FY2022, filed Mar 16, 2023The Company sells antennas and Industrial IoT devices and test & measurement products. All the Company’s revenue relates to contracts with…View ↗
Under Topic 606, a contract with a customer is an agreement which both parties have approved, that creates enforceable rights and…View ↗
For the test & measurement product line, performance obligations for the sale of products and software licenses are satisfied at a point in…View ↗
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10-K for FY2022, filed Mar 16, 2023
FY2022 revenue by reportable segment ↗
$99.4M
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10-K for FY2022, filed Mar 16, 2023
$99.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Antennas & Industrial IoT Devices
Sold outright
10-K for FY2022, filed Mar 16, 2023 |
70%
FY2019: 69%
|
Antennas & Industrial IoT Devices, FY2022
$69.7M Sources
|
Sold outright |
|
Test & Measurement Products
Mix
10-K for FY2022, filed Mar 16, 2023 |
31%
FY2019: 31%
|
Test & Measurement Products, FY2022
$30.6M Sources
|
Mix |
Who Were Their Customers?
Antenna and Industrial IoT products go to original equipment makers for integration, through distributors, and directly to customers when systems integration is unnecessary. Test products go directly to wireless carriers, engineering service providers, and rental companies, or through original equipment makers and distributors.
10-K for FY2022, filed Mar 16, 2023
10-K for FY2022, filed Mar 16, 2023
One customer accounted for 15% and 10% of revenues during the years ended December 31, 2022, and 2021, respectively.View ↗
Did Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2022 and turned 3 cents into free cash flow.
10-K for FY2022, filed Mar 16, 2023
$2.1MView ↗
10-K for FY2022, filed Mar 16, 2023
$2.9MView ↗
10-K for FY2022, filed Mar 16, 2023
$3.3MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q3 FY2023, filed Nov 8, 2023
−$110KView ↗
- ▼ Now a loss
- vs $2M in Q3 FY2022
10-Q for Q3 FY2023, filed Nov 8, 2023
Open tableView ↗
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Dec 15, 2023
Amphenol completed its acquisition of PCTEL
PCTEL became a wholly owned subsidiary, and its shares were no longer publicly traded.
Sources
8-K, filed Dec 15, 2023
PCTEL Announces Closing of its Acquisition by Amphenol CorporationView ↗
Grew. Revenue grew 20% in 4 years, from $83M in FY2018 to $99.4M in FY2022, about 5% a year.
Broader Industrial IoT hardware
The older report described antennas deployed in Industrial IoT equipment; the latest report adds purpose-built devices, including ruggedized access points, radio modules, sensor modules, and wireless sensors.
10-K for FY2019, filed Mar 13, 2020 10-K for FY2022, filed Mar 16, 2023
Who Did They Compete With?
Competes with Airgain, Amphenol, Panorama, Taoglas, TE Connectivity, Anritsu, Berkley Varitronics, Digital Receiver Technology, Rohde and Schwarz, and Viavi
10-K for FY2022, filed Mar 16, 2023Consistent with our mission to solve complex network engineering problems and to compete effectively in the antenna market, PCTEL maintains…View ↗
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