Wi2Wi Corporation Announces Full Year 2023 Financial Results

Company Lays Foundation for Growth with Hiring of New CEO

TORONTO, ON / ACCESSWIRE / April 16, 2024 / Wi2Wi Corporation today announced its audited consolidated financial results for the full year ending December 31, 2023. Year over year revenue was down slightly as the company laid the foundation for growth going forward through consolidating its operations as well as hiring a new CEO. In addition the company continued to serve top tier customers and won significant supplier and quality awards during the period.

Key Financial Highlights

In FY2023, Wi2Wi generated $6.3 million in revenue, versus $6.9 million the previous year. The company's strategic initiatives have fortified its customer base with significant top-tier additions and sustained partnerships highlighting Wi2Wi's commitment to delivering high-performance, reliable solutions across diverse sectors including Avionics, Military, Industrial and IoT. Wi2Wi's relentless customer focus during the year resulted in being honoured with the "Outstanding Supplier Recognition Award" by industry giant Collins Aerospace.

Wi2Wi is also pleased to announce the appointment of Mr. Ted Clark as the new Chief Executive Officer, effective February 1, 2024. Mr. Clark brings a wealth of experience in the technology sector, with a proven track record of driving growth, optimizing operations, and leading companies to new heights. Under his leadership, Wi2Wi is poised to accelerate growth through a keen focus on driving top-line revenue, optimizing cash flow, and expanding its market footprint.

Reflecting on the company's strategic direction, Mr. Clark stated, "Wi2Wi is at a pivotal juncture, and I am thrilled to lead the company through its next growth phase. We will focus on leveraging our core strengths, as well as exploring new market opportunities, and enhancing operational efficiencies to ensure sustainable growth and value creation for our stakeholders. With our strong foundation and the collective expertise of our team, I am confident in Wi2Wi's future success."

As Wi2Wi embarks on this exciting new chapter, the company reaffirms its dedication to delivering outstanding products and services, fostering strong customer relationships, and achieving operational excellence. With a clear strategic vision and strong leadership, Wi2Wi is well-positioned to capture new opportunities and accelerate its growth trajectory.