Benzinga | Aug 16, 2021 07:45AM EDT

EXCLUSIVE: COMSovereign Resumes High Volume Shipments Of Fastback Radio Products

COMSovereign Holding Corp. (NASDAQ:COMS) is announcing the resumption of volume shipments of its Fastback Networks radio products.

What Happened: COMSovereign, a developer of 4G LTE Advanced and 5G Communications Systems and Solutions, says an increase in production capacity is allowing the resumption of the Fastback radio shipments under its multiyear Master Vendor Agreement with a tier 1 U.S. mobile network operator.

"Based upon rapidly increasing production capacity, and the availability of necessary components, the company expects the ability to meet Fastback radio order volumes of approximately $40 million from customers over the next eight to 10 months," according to COMSovereign.

Fastback has begun to fullfill open orders valued at more than $8.7 million after resolving initial delays caused by global component shortages, post-production testing capacity as well as the lingering impact of COVID-19 on operations and supply chains.

"Demand for Fastback radios has been accelerating as operators urgently seek to improve the performance and reliability of their networks," said Chris Thelander, managing director of global telecom at COMSovereign.

"With increasing production volumes, we are ready to begin to execute the next phase of our strategy, moving beyond hardware-only sales toward high-value managed network services for public and private network operators."

The company says, since its founding in 2010, Fastback has been a leader in the development and commercialization of innovative radio technologies. With products that deliver high-peformance wireless connectivity to virtually any location, including those challenged by non-line of sight limitations.