Coming off a previous year of tremendous revenue growth, Yotta Navigation celebrates another record year in 2021. Our core IHM technology reached several performance milestones coupled with new product variant releases. We managed to sidestep a number of potential parts shortages due to the ongoing supply chain problems of sourcing semiconductor components — even in the relatively small quantities we need as a business of our size.
Our electronics suppliers also anticipate this condition will continue for the foreseeable future, with some components that were readily available in the thousands now backordered for over one year. Some parts are going to 100 times their normal prices. We therefore expect our efforts to shift more towards projects we have direct control over such as software development and engineering support in the coming year.