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Minim Reports Revenue Growth of 25 % Continues Global Expansion ; Successfully Launches New Intelligent Networking Products Exhibit 99.1 minim Manchester , NH ( November 2 , 2021 ) - Minim , Inc. ( NASDAQ : MINM ) , the creator of intelligent networking products under the globally recognized Motorola brand , today reported third quarter financial results for the period ended September 30 , 2021 . Q3 2021 Financial Highlights : Net revenue of $ 15.0 million , up 25 % year - over - year from $ 12.0 million in Q3 2020 . Revenue Bookings of $ 15.2 million ; total deferred revenue as of September 30 , 2021 increased by 17 % compared to Q2 2021 . Gross margin of 29.9 % , down 234 basis points compared to 32.2 % in Q3 2020 , due to component pricing pressures that the business has adjusted for as we moved into Q4 . Net income of $ 1.7 million , inclusive of the one - time income of approximately $ 4.0 million related to the sale of Zoom® trademark , compared to a net loss of $ 0.3 million in Q3 2020 . Recent Business Highlights Released the new motosync , powered by Minim , mobile app . This app comes with parental controls , security , data tracking , ad blocking , and much more versus its prior generation , MotoManage . Launched WiFi 6 mesh system , the Motorola MH7603 , in Amazon.com and Best Buy online . This product offers 1.8 Gbps in speed , up to 5,000 sqft . of coverage , and the new motosync app at a competitive price . Launched the Motorola MH7020 mesh WiFi system in India in Amazon.in and Flipkart.in , marking the first major step towards international e - commerce expansion . The product received positive reviews by leading consumer tech influencers TechMakhnified and # TheGadgets360Show . Joined the Telecom Infra Project ( TIP ) with members including BT , Vodafone , Telefónica , Deutsche Telekom , Dell , Intel , and Facebook ; announced that Minim is being evaluated as a standard element in TIP's OpenWiFi framework , which would allow easy access to the Minim cloud services for TIP members . Entered a customer trial with MultiChoice Group , Africa's leading entertainment company that reaches more than 20 million households across 50 countries in Africa . Gray Chynoweth , Chief Executive Officer of Minim , said , " We delivered another quarter of strong double - digit revenue growth , an increase of 25 % over last year , while successfully navigating a more challenging macro environment characterized by global supply chain challenges and inflationary pressures . Based on our current business plan , we believe the recently completed capital raise and trademark sale provides us with ample runway to sustain our current operations and invest for continued growth . Importantly , we are deploying the capital to not just drive growth , but to drive disciplined growth . Committing our resources to inventory optimization , pricing strategies , technology innovation and expanding global access to our products to truly propel our business forward and achieve material adjusted profitability on an Adjusted EBITDA basis in 2022 and beyond . "