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InCoax Networks AB Interim Report, April – June 2024

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InCoax's growth journey continues as planned. The agreement with Nokia represents significant potential for continued sales growth.

Financial performance

April – June 2024

  • Net sales amounted to SEK 19,432,167 (9,318,146). Sales was driven by sales to a US-based FiberLAN operator.
  • Operating profit amounted to SEK -6,946,984 (-6,316,638).
  • Earnings after tax amounted to SEK -6,946,892 (–6,472,333), and earnings per share amounted to SEK -0.06 (–0.09).
  • The period's cash flow incl. financing activities was SEK -11,979,975 (-11,331,218).

January – June 2024

  • Net sales amounted to SEK 50,225,291 (22,249,808). Sales was driven by sales to a US-based FiberLAN operator.
  • Operating profit amounted to SEK -2,602,051 (-9,399,145), a change driven by an increase in sale.
  • Earnings after tax amounted to SEK -2,668,789 (–9,662,459), and earnings per share amounted to SEK -0.02 (–0.13).
  • The period's cash flow incl. financing activities was SEK 21,436,891 (-9,207,547).

Significant events during the quarter

May

  • Bulletin InCoax Networks AB Interim Report, January – March 2024.
  • Notice of Annual Shareholders´ Meeting in InCoax Networks AB.
  • InCoax Networks AB Annual Report 2023.

June

  • Annual General Meeting of InCoax Networks AB.
  • InCoax Networks and Nokia enter strategic agreement to deliver multi-gig broadband over in-building cable networks.
  • InCoax Networks AB presents new financial goals.

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 15, 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.

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