Etherstack plc revised earnings guidance for the year ended December 31, 2016. For the year, the company expected on June 16, 2016, the company forecast revenues for the year ending December 31, 2016 to be in the range of USD 5.8 million to USD 6.1 million (AUD 7.9 million to AUD 8.3 million). Based on unaudited financial information, the company now expects revenues for the year ended December 31, 2016 to be at the high end of this range. Final revenue will be determined when royalties are reported after year end from the company technology licensing clients. Revenue of USD 6.1 million represents an increase of USD 3.8 million or 170% over prior year revenues.

The company provided revenue guidance for the year 2017 and 2018. For the years, the company is optimistic this revenue result for 2016 signals further revenue growth in 2017 and 2018 particularly when newly developed products and technology start to contribute to revenues.