InCoax Networks AB Interim Report, January – March 2024

InCoax started 2024 with the strongest quarter in the company's history, featuring increased sales, maintained gross margin, improved operational cash flow, and a positive net result. The collaboration with Nokia paves the way for increased growth over time.

Financial performance

January – March 2024

• Net sales amounted to SEK 30,793,125 (12,931,661). Sales was driven by for the quarter large sales to a US-based FiberLAN operator.
• Operating profit amounted to SEK 4,344,935 (-3,082,507), a change driven by an increase in sale.
• Earnings after tax amounted to SEK 4,326,106 (–3,190,126), and earnings per share amounted to SEK 0,04 (–0,04).
• The period's cash flow incl. financing activities was SEK 33,416,864 (2,123,671).

Significant events during the quarter

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 in connection with rights issue.
• InCoax announces the outcome of the rights issue, which was subscribed at 123% and provides the company with SEK 52.6 million before issuance costs.

February

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

March

• From March 1, 2024, Andreas Bergman has been appointed Chief Commercial Officer (CCO) and member of the management team of InCoax. Helge Tiainen remains in the InCoax management team as 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 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 7, 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.