HF Company reported revenue results for the fourth quarter of 2016. For the quarter, the company reported that revenue decreased by 21.8% year-on-year, compared with a drop of 5.5% in the previous quarter.

The company revised revenue outlook for the full year of 2016, warning of the negative impact of AT&T's decision to backtrack on a new IoT system. The full year result remained positive, with revenue increasing 27.6% to EUR 67.6 million.