After two years, the reduced coronavirus measures have allowed us to meet in person with at least part of our sales team deployed in different parts of the world. In the first week of February, we met at our corporate headquarters, the rest of the team joined online, and together we evaluated the results of 2021 and discussed expectations for 2022.
2021 was the best year in RACOM’s history in terms of revenue, we grew almost 20% compared to 2020. We achieved record sales of Radio modems, Cellular routers and Microwave links despite the challenges associated with the Covid pandemic. Compliance with government regulations such as mandatory home offices, mandatory testing, etc. did not pose a major problem for us.
The biggest issue for us was (and still is) the shortage of components and materials of all kinds, their rising prices, extended lead times and the overall shaky economy. We managed to overcome these problems and delivered our products within the standard lead times. We were able to do this thanks to the extreme efforts of our procurement and production staff, for which we are very grateful. We prioritized delivery times over the prices of our inputs, even though we paid many times the usual price for some components compared to before the pandemic.
Also, because we have demonstrated stability in turbulent times, we already have orders for a number of larger and smaller projects for 2022.
We are confident that despite the ongoing challenges in component supply, we will be able to meet all requirements for all of our customers to their satisfaction again this year.