InCoax Networks AB Interim Report, April – June 2023

InCoax more than doubled its sales during Q2 2023 compared to the same period of last year. InCoax remains engaged in two advanced inquiries, both with great potential.

Financial performance

April – June 2023

• Net sales amounted to SEK 9,318,146 (4,140,375), sales in line with budget, driven by sales to a US-based FiberLAN operator.
• Operating profit amounted to SEK -6,316,637 (-5,051,551), a change driven by a smaller allocation to fixed assets but compensated at the same time of a positive gross profit margin.
• Earnings after tax amounted to SEK -6,472,333 (–5,076,493), and earnings per share amounted to SEK -0.09 (–0.12).
• The period's cash flow incl. financing activities was SEK -11,331,218 (-11,021,625).

January – June 2023

• Net sales amounted to SEK 22,249,808 (9,828,524), sales in line with budget, driven by sales to a US-based FiberLAN operator.
• Operating profit amounted to SEK -9,399,145 (-11,344,718), an improvement driven by increased of the R&D investment and a positive gross profit.
• Earnings after tax amounted to SEK -9,662,459 (–11,402,103), and earnings per share amounted to SEK -0.13 (–0.28).
• The period's cash flow incl. financing activities was SEK -9,207,547 (-20,304,808).

Significant events during the quarter

• InCoax Networks AB strengthens the management team with Jakob Tobieson as Chief Operations Officer, COO.
• InCoax receives add-on order of SEK 5M from the US based FiberLAN operator.

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 of the contact persons set out below, at 08.30 CEST on August 18, 2023.

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) is reusing existing property coaxial networks for broadband access in Fiber-To-The-Home (FTTH) deployments for Communication Service Providers (CSP) globally.
The technology is a high performance, future proof, reliable and cost-effective complement to fiber, 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.