Aerohive
Networks® (NYSE: HIVE), a leader in cloud-managed networking, today
announced the conclusion of a successful 2019 E-rate filing cycle. The
value of 2019 E-rate Form 471 funding requests filed for Aerohive
products and services increased by approximately 55 percent
year-over-year to more than $37 million, as reported by E-rate Profit
Works. This strong growth was the result of a return to significant
growth in the 2019 E-rate cycle, combined with an increase in Aerohive’s
market share to over 10% of all “wireless data distribution” funding
requests. Aerohive also saw a 12% increase in the number of schools
requesting funding to deploy Aerohive solutions. Aerohive expects these
funding requests to result in orders beginning in the second quarter,
but primarily over the second half of the year. The final value of the
orders for Aerohive products and services will exclude channel margins,
which are included in the value of the 471 funding requests.
“We are seeing clear signs that the US Education market is returning to
growth as it looks for better ways to fold technology into curriculum,
and as it starts the upgrade to Wi-Fi 6,” said David Flynn, president
and chief executive officer, Aerohive Networks. “With the increased
proliferation of digital learning technologies in the classroom,
administrators have quickly realized the immediate need for better and
simpler choices to keep their students safe while collaborating online.
Our Cloud-managed AI- and ML-driven network architecture makes
deploying, securing, and managing student devices simple and secure for
schools and libraries.”
“After reviewing the Aerohive E-rate results, it is clear that their
market share in E-rate is increasing, their focus is sharpening, and we
are looking forward to closing out a strong season with them,” said Zack
Hubeck, vice president of sales & marketing at WAV Inc.
About E-rate — The FCC’s E-rate program makes telecommunications
and information services more affordable for schools and libraries. In
recent years, the FCC refocused E-rate from legacy telecommunications
services to broadband, with a goal to significantly expand Wi-Fi access.
These steps to modernize the program are helping E-rate keep pace with
the need for increased Internet access. (Learn more at https://www.aerohive.com/e-rate
and https://www.fcc.gov/e-rate-update.)
About Aerohive Networks
Aerohive uses Cloud Management, Machine Learning, and Artificial
Intelligence to radically simplify and secure the Access Network. Our
Cloud-Managed Wireless, Switching, Routing, and Security technologies
provide unrivalled flexibility in deployment, management, and licensing.
Credited with pioneering Controller-less Wi-Fi and Cloud Management,
Aerohive delivers continuous innovation at Cloud-speed that constantly
challenges the industry norm, allowing customers to rethink what’s
possible. Our innovations and global cloud footprint radically simplify
Access Network operation for 30,000+ customers and 10+ million daily
users. See how at www.aerohive.com/customers.
Aerohive was founded in 2006 and is headquartered in Milpitas, CA. For
more information, please visit www.aerohive.com,
call us at 408-510-6100, follow us on Twitter @Aerohive,
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Safe Harbor Statement
This press release contains forward-looking statements, including
statements regarding the potential value of business available to the
Company under the federal E-rate program, and the timing of such
business, growth in the education market in general, and the Company’s
share of such market, new Aerohive product and service offerings and
statements regarding their expected performance, market receptiveness
and competitive advantage. These forward-looking statements are based on
current expectations and are subject to inherent uncertainties, risks
and changes in circumstances that are difficult or impossible to
predict. The actual outcomes and results may differ materially from
those contemplated by these forward-looking statements as a result of
these uncertainties, risk and changes in circumstances, including, but
not limited to, risks and uncertainties related to: general demand for
wireless networking in the industry verticals targeted or demand for
Aerohive products in particular, unpredictable and changing market
conditions, risks associated with the deployment, performance and
adoption of new products and services, risks associated with our growth,
competitive pressures from existing and new companies, technological
change, product development delays, our inability to protect Aerohive
intellectual property or to predict or limit exposure to third party
claims relating to its or Aerohive’s intellectual property, and general
market, political, regulatory, economic and business conditions in the
United States and internationally.
Additional risks and uncertainties that could affect Aerohive’s
financial and operating results are included under the captions “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations,” in the Company’s recent annual
report on Form 10-K and quarterly report on Form 10-Q. Aerohive’s SEC
filings are available on the Investor Relations section of the Company’s
website at https://ir.aerohive.com
and on the SEC’s website at www.sec.gov.
All forward-looking statements in this press release are based on
information available to the Company as of the date hereof, and Aerohive
Networks disclaims any obligation to update the forward-looking
statements provided to reflect events that occur or circumstances that
exist after the date on which they were made, except as required by law.
“Aerohive” and “Aerohive Networks” are registered trademarks of Aerohive
Networks, Inc. All product and company names used herein are trademarks
or registered trademarks of their respective owners. All rights reserved.
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