TROY, Mich., May 28, 2025 (GLOBE NEWSWIRE) -- Viper Networks (OTCPK: VPER) continued to show strong organic growth in the release of its first quarter 2025 financial statements while maintaining positive EBITDA and reducing debt.
Revenues from the quarter rose to $1.307 million and EBITDA (non-GAAP) increased to $46,565, as compared to an EBITDA loss of $171,482 for the same period in 2024. The growth was due to the acquisition of the 0Wire Communications business unit (formerly known as 1stPoint Communications) and the wholesale business unit. Over-the-Top ("OTT") revenues continued to grow organically due to the company's advantageous position in the telecommunications marketplace due to its unique licensing. The telecommunications business has grown 41% quarter-over-quarter since the acquisition on November 1, 2024.
Operating losses decreased to $42,570, from $171,482 in the same period in 2024. The operating loss was primarily due to non-cash expenses such as depreciation and amortization associated with the acquisition of the telecommunications business unit.
"During the period the company continued to develop its mobile business, creating the legal framework for its operations in the Eastern Caribbean, which will commence in the country of Dominica. The EC rollout will happen simultaneously with the deployment of mobile services in the United States. We are addressing a critical need for cross-border communications between the population of the small island nations in the region and the United States and Canada," said Erik Levitt, the company's CEO. "We intend to announce several key partnerships in the coming quarter that will substantially accelerate our development in the region and in the mobility business unit."
"Progress continued in the company's smart city and energy generation initiatives in the United States and in Sri Lanka," said Farid Shouekani, the company's Chairman. "As we receive final designs and permits from key municipalities we will begin the planned deployments in both countries."
The company completed its evaluation of the acquired entities and has filed a revision to its annual financial statements in accordance with standard accounting practices. The filing was concurrent to the filing of the quarterly financial statements.
ABOUT VIPER NETWORKS, INC.
Viper Networks is a service provider of telecommunications, smart city and energy generation projects. Our "Everything Wireless Telecom+Energy" strategy is designed to integrate mobility, fixed wireless, over-the-top ("OTT") technologies and smart cities into a single platform that can deployed in any market globally. For more information go to www.ViperNetworks.com.
Forward Looking Statements
This press release contains projections and other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995.
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