WIRELESS TELECOM GROUP INC

wirelesstelecomgroup.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2023 10-Q, filed May 15, 2023. Its latest SEC filing is a 15-12G from Aug 14, 2023.

The sections below describe the company as of the FY2022 annual report.

How Did They Make Money?

Customers order T&M products by purchase order; sales occur when products ship, or on delivery when contract terms require. Repair and calibration services are charged as the work is performed.

FY2022 revenue

Who Were Their Customers?

Customers across aerospace and defense, government, and technology markets buy globally through the in-house sales force, manufacturers’ representatives and authorized distributors.

Customers above 10% of revenue, FY2022

of revenue from one customer

FY2021: 13% from one customer

Did Revenues Turn Into Profits?

Yes. It kept 65 cents of every revenue dollar as net income in FY2022, but spent more cash than it brought in: free cash flow was −$10.4M.

Operating income, FY2022

−12% of revenue

▲ +19% (Loss) vs FY2021 (−$2.2M, −10%)

Net income, FY2022

65% of revenue

▲ +873% vs FY2021 ($1.5M, 7%)

Free cash flow, FY2022

−46% of revenue

▼ Now a loss vs FY2021 ($4M, 18%)

How Were They Changing?

Since the FY2022 annual report

Latest quarter: Q1 FY2023, the three months to Mar 31, 2023

Revenue: ▼ −15%; vs $6.1M in Q1 FY2022
Net income: ▼ Now a loss; vs $10.2M in Q1 FY2022

Aug 4, 2023 Maury acquired the company, which left the public exchange WTT became Maury’s wholly owned subsidiary; shareholders were entitled to $2.13 per share in cash.

A narrower product portfolio The earlier business included RF passive components, LTE software and signal-processing modules alongside test equipment. The latest report describes only the remaining test-and-measurement business after selling Microlab and CommAgility.

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