InCoax Networks AB Interim Report, January - June 2021

Steadily increasing order intake and improved earnings

STOCKHOLM, Aug. 20, 2021 /PRNewswire/ --

Financial performance

April - June 2021

• Net sales amounted to SEK 4,854,654 (440,445). Sales continue to be considerable higher than last year. This is driven by invoicing to a US Fiber/LAN operator.
• The operating loss was SEK -5,730,826 (-14,623,807), an improvement due to increased sales, capitalization of development costs and lower personnel cost.
• The loss after tax was SEK -5,760,364 (-14,696,125), corresponding to earnings per share of SEK -0.16 (-0.80).
• Cash flow including financing activities during the quarter was SEK 25,360,137 (908,106).

January - June 2021

• Net sales amounted to SEK 10,025,343 (682,212). Sales continue to be considerable higher than last year. This is driven by invoicing to a US Fiber/LAN operator.
• The operating loss was SEK -12,841,631 (-31,995,688), an improvement due to increased sales, capitalization of development costs and lower personnel cost.
• The loss after tax was SEK -12,891,586 (-32,107,284), corresponding to earnings per share of SEK -0.35 (-1.75).
• Cash flow including financing activities during the period was SEK 17,955,482 (-16,214,700).

Significant events during the quarter

• InCoax receives two follow-on orders of SEK 5M total from a US Fiber/LAN operator.
• InCoax wins additional order of SEK 6,4 M from a US-based Fiber/LAN operator.
• InCoax carries out a new rights issue release of SEK 41,163,592.50 before issue costs, fully guaranteed by one of the main owners Saugatuck Invest AB.
• InCoax intensify marketing and communication strategy through panel discussion participation with leading broadband technology actors such as; the Broadband Forum, British Telecom and Verizon/MoCA. Additional articles are published with significant impact in the trade press and cost-effective targeted marketing through social media.

Significant events after the end of the quarter

• Emil Bendroth is back at his position as regular CFO.
• Morten Werther is recruited as new Head of Development and part of the Management Team. Enters position on August 23.
• New product for the growing XGS-PON market is pre-launched at Fiber Connect, on July 25-28 in Nashville, USA.Full the full report, please download the attached PDF. The full report is also available at incoax.com.

This information is such information as InCoax Networks AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency ofthe contact persons set out below, at 08.00 CEST on August 20, 2021.

For more information contact:

Jörgen Ekengren, CEO, InCoax Networks AB
jorgen.ekengren@incoax.com 
+46 73- 899 55 52

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The following files are available for download: