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InCoax Networks AB Interim Report, January – September 2022

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The collaboration with Google Fiber continues according to plan, with InCoax’s largest order ever. A US Tier 1 operator has placed an initial order.

Financial performance

July – September 2022

  • Net sales amounted to SEK 1,482,530 (7,623,222), the quarter's sales are affected by a shift of sales to the US-based FiberLAN operator.
  • Operating profit amounted to SEK -7,730,587 (-3,676,743), a decline due to a shift in sales to the US-based FiberLAN operator.
  • Earnings after tax amounted to SEK -7,783,684 (–3,693,276), and earnings per share amounted to SEK -0.19
    (–0.10).
  • The quarter's cash flow incl. financing activities was SEK -12,400,922 (-10,496,778).

January – September 2022

  • Net sales amounted to SEK 11,311,054 (17,648,565), turnover is lower than the previous year, due to the shift of sales to the US-based FiberLAN operator.
  • Operating profit amounted to SEK -19,075,305 (-16,518,374), a deterioration driven by the shift in sales to the US-based Fiber/LAN operator. However, the deterioration was reduced of increased provision for fixed assets.
  • Earnings after tax amounted to SEK -19,185,788 (–16,584,862), and earnings per share amounted to SEK -0.47 (–0.45).
  • The quarter's cash flow incl. financing activities was SEK 10,087,947 (7,458.704).

Significant events during the quarter

  • InCoax informs about the business situation and communicates updated financial targets.
  • InCoax awarded initial order from the US based Tier-1 operator.
  • InCoax carries out a rights issue of approximately SEK 50.1 million and proposes an authorization for an overallotment issue of an additional approximately SEK 15.0 million.

Significant events after the end of the quarter

  • InCoax launches product for home networks.
  • InCoax secures additional order of USD 3.1 million (SEK 34.7 million) from the US based Fiber/LAN operator.

Full the full report, please download the attached PDF. The full report is also available at 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 CEST on October 21, 2022.

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 innovating the reuse of existing in-building infrastructure for broadband access. We provide the next-generation MultiGigabit networking solutions to the world’s leading telecom and broadband service operators. To keep updated on corporate information, visit incoax.com. Augment Partners AB, tel. +46 8-604 22 55 info@augment.se, is acting as the company’s Certified Adviser.

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