InCoax Networks AB Interim Report, July – September 2023

InCoax had a strong third quarter: the net sales were the highest ever for a single quarter, which means that the company are in line with its financial goal to double sales in 2023 compared to 2022. InCoax remains committed to a highly promising quote process with significant value creation potential.

Financial performance

July – September 2023

• Net sales amounted to SEK 14,718,962 (1,482,530), sales in line with budget, driven by sales to a US-based FiberLAN operator.
• Operating profit amounted to SEK -1,846,136 (-7,730,587) driven by increased sale.
• Earnings after tax amounted to SEK -1,871,146 (–7,783,587), and earnings per share amounted to SEK -0.03 (–0.19).
• The period's cash flow including financing activities was SEK -17,298,062 (-12,400,922).

January – September 2023

• Net sales amounted to SEK 36,968,769 (11,311,054), sales in line with budget, driven by sales to a US-based FiberLAN operator.
• Operating profit amounted to SEK -11,245,281 (-19,075,305), an improvement driven by increased sale.
• Earnings after tax amounted to SEK -11,533,606 (–19,185,787), and earnings per share amounted to SEK -0.16 (–0.47).
• The period's cash flow including financing activities was SEK –26,505,609 (-10,087,945).

Significant events during the quarter

• InCoax Networks AB receives add-on order of SEK 14M from the US based Tier-1 operator.
   

Significant events after the quarter

• 5G FWA Extension technology is the key to reaching faster speeds faster in apartment complexes says InCoax (article).
• InCoax Networks AB (publ) publishes appointed Nomination Committee.
   

Full the full report, please download the attached PDF. The full report is also available at https://www.incoax.com/investor-information/ .

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 of the contact persons set out below, at 08.30 CET on November 3, 2023.

For additional information, please contact:
Jörgen Ekengren, CEO, InCoax Networks AB
[email protected]
+46 73 899 55 52

About InCoax Networks AB
InCoax Networks AB (publ) re-purposes existing property coaxial networks in fiber and fixed wireless access (FWA) extension deployments for Communication Service Providers (CSP) globally. The technology is a high performance, future proof, reliable and cost-effective complement, that reduces installation time and improves take-up rate, to boost digital inclusion and Internet access for all.

To keep updated on corporate information, visit incoax.com. Vator Securities AB, tel. +46 8-5800 6599, [email protected], is acting as the company’s Certified Adviser.