SWIR stock popped 13% in after-hours trading on January 21, 2021.

Sierra Wireless expects revenue to be above Street consensus of $116.5M in the Fourth Quarter of 2020, as well as being above Street consensus of $110M in the First Quarter of 2021. The company also expects to report approximately $170M in cash and no debt at the end of December 31, 2020.

Sierra Wireless announced that Kent Thexton plans to retire from his position as President & CEO. Kent has committed to remain with the Company until June 30th to allow his successor to be hired and to support an orderly transition. The Board of Directors have commenced a process to find Kent’s successor and have engaged a top tier executive search firm to undertake a search for his replacement. “Kent has been a valuable and tireless leader for Sierra Wireless in both his roles as Chair of the Board and as President & CEO,” said Robin Abrams, Chair of the Board of Directors. “We want to thank him for his strong efforts in transforming the business and we wish him the best in his retirement.”

On January 14, 2021, B. Riley Securities analyst Josh Nichols initiated coverage of Sierra Wireless with a Buy rating and $23.50 price target. Sierra is “poised to execute a successful multiyear turnaround” with an expanded and upgraded board following a shareholder activist campaign, Nichols tells investors in a research note. While the turnaround is still in the early stages, improvements are already well under way, with management now squarely focused on profitable growth, says the analyst.

On January 13, 2021, Sierra Wireless (NASDAQ: SWIR) (TSX: SW), the leading IoT solutions provider, announced that LUCI, a hardware and software platform that uses stereo vision, infrared, ultrasonic, and radar to enable power wheelchairs to ‘see’ their environment, was recently named one of Time Magazine’s best inventions of 2020, as well as one of the greatest innovations of 2020 in the Popular Science Best of What’s New 2020 list.

LUCI uses Sierra Wireless’ Low Power Wide Area (LPWA) solution, including HL7800 modules and Enhanced Carrier Connectivity services, to make power wheelchairs smarter and safer, helping wheelchair users avoid collisions, drop-offs, and falls, and giving them more freedom and independence.

Peter Knapp, COO at LUCI says, “We chose Sierra Wireless because of its unique integrated solution. It allowed us to reduce our development time and simplify the deployment process, so that we could get to market faster. The global coverage that we can provide to our customers ensures they always have the support they need, wherever they go.”

Sierra Wireless Brings to IoMT Solutions Like LUCI Low-Power, National Wireless Connectivity

LUCI is a power wheelchair accessory with sensors that can monitor a wheelchair’s environment, and alert users and others of dangers to the user. It uses a cloud-connected IoMT solution, that can be integrated into two-thirds of the power wheelchairs currently on the market. It also allows users to receive help quickly if they do have an accident, by notifying the user’s emergency contacts. To do this, LUCI needs to extract data from the wheelchair and LUCI’s own sensors, and then securely transmit this data to the cloud. To do all this while not draining the wheelchair’s battery, which is also used to power the wheelchair itself, it must use as little energy as possible.

Sierra Wireless’ HL7800 module, in conjunction with its Enhanced Carrier Connectivity service, meets these needs. The multi-mode LPWA module uses Cat-M and NB-IoT cellular networks to minimize the energy consumed by LUCI when it transmits data from the wheelchair to the cloud. The module’s compact CF3® design also allows the LUCI design team to easily migrate between different connectivity technologies, helping them future-proof their hardware platform.

In addition, Sierra Wireless’ Enhanced Connectivity Services provides LUCI users with broad national wireless coverage. With these services, LUCI can connect to different carriers – AT&T, T-Mobile, Verizon, or Rogers networks in North America — depending on which carrier provides the best coverage in a particular location. At the same time, Sierra Wireless’ Global Network Operation Center monitors these networks, preventing downtime and helping the LUCI team quickly resolve any connectivity issues.

Jim Ryan, SVP Partnerships, Marketing & IoT Solutions, Sierra Wireless, said: “Sierra Wireless makes it simple to connect any machine, which enables innovators like the team at LUCI to focus on bringing their ideas to life. With Sierra Wireless’ LPWA solution, the LUCI team has a single point of accountability for all their connectivity, along with a unified platform for setting up and managing this connectivity, reducing operational costs.”

Using connectivity solutions and services provided by Sierra Wireless, LUCI provides people living with disabilities with smart wheelchairs they can use to navigate places they previously found difficult, stressful, or dangerous, helping them more fully experience the world.

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