InCoax Networks AB Annual Report 2023

InCoax's sales growth continued in 2023, and the financial goal to double the sales compared to 2022 was exceeded by a margin. The partnership established with Nokia lays the foundation for continued strong growth.

Financial performance

• Net sales amounted to SEK 59,619,447 (25,922,260), corresponding to an increase of 130 percent compared to the same period last year.
• The operating result for the year amounted to SEK -16,729,885 (–22,329,647), an improvement driven by higher sales in 2023.
• The year's result after tax amounted to SEK -16,980,631 (–22,815,010), which results in earnings per share of -0.23 SEK (-0.32).
• Cash flow including financing activities for the full year amounted to SEK -21,306,145 (2,012,771).

Significant events after the end of the year

January

• Bulletin from the extraordinary general meeting in InCoax Networks AB.
• InCoax publishes prospectus in connection with rights issue.
• InCoax secures orders of 545 kUSD (5.4 MSEK) from US-Based FiberLAN operator.
• InCoax publishes supplementary prospectus.
• InCoax announces the outcome of the rights issue, which was subscribed to 123% and provides the company with 52.6 MSEK before issue costs.

February

• InCoax receives orders totaling 2 million USD (current value approximately 21 million SEK) from the US-based FiberLAN operator.

March

• Andreas Bergman has been appointed Chief Commercial Officer (CCO) and member of the executive team at InCoax as of March 1, 2024. Helge Tiainen remains in InCoax’s executive team, responsible for Business Development and Standardization.
• InCoax Networks AB Year-End Report 2023.

Full the full report, please download the attached PDF. The full report is also available at www.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 of the contact persons set out below, at 08.30 CEST on May 17, 2024.

For additional information, please contact:

Jörgen Ekengren, CEO, InCoax Networks AB
jorgen.ekengren@incoax.com
+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, ca@vatorsec.se, is acting as the company’s Certified Adviser.