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InCoax Networks AB Year-End Report 2020

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Follow-on order from operator of strategic importance and great growth potential.  Development project with American Tier-1 operator is proceeding according to plan.
 

Financial performance

 October – December 2020

  • Net sales amounted to SEK 2,720,249 (576,547), corresponding to a substantial year-on-year increase of 371 %, due to the first invoice to a major American customer.
  • The operating loss was SEK –8,637,219 (–18,022,832), an improvement on basically all accounts. Increase in sales, over-all decrease in costs and lower costs for personnel. Also implementing the method of Capitalization of own-developed immaterial fixed assets, has resulted in a decrease of booked development costs.
  • The loss after tax was SEK –8,662,689 (–18,359,744), corresponding to earnings per share of SEK –0.32 (–1.00).
  • Cash flow including financing activities during the quarter was SEK 13,999,743 (6,908,729).

Full-year 2020

  • Net sales amounted to SEK 3,788,463 (2,822,067), corresponding to a year-on-year increase of 34 %.
  • The operating loss was SEK –57,405,382 (–65,108,321), an increase driven by a much-improved Q4 compared to previous year. This year's result has affected by stock devaluation in one product segment which has been met by the product development capitalization model implemented in Q3.
  • The loss after tax was SEK –57,822,219 (–65,760,609), corresponding to earnings per share of SEK –2.11 (–3.59).
  • Cash flow including financing activities during the period was SEK -12,643,002 (21,745,099).

Significant events during the quarter

  • InCoax rights issue is registered as completed.
  • InCoax receives an initial volume order for from US Fiber/LAN Operator.
  • North American Tier 1 Operator extends co-operation with InCoax and places order for field trials.
  • Alf Eriksson elected new member of the Board.
  • Peter Hasselberg appointed interim CFO.

Significant events after the end of the quarter

  • Follow-on order of SEK 3.2M from US Fiber/LAN operator.
  • InCoax member of US based Fiber Broadband Association.
  • Initial order (via VAR) from US based system integrator specialized on Garden Style Apartment Complexes.
  • InCoax, BBF and MoCA articles on the release of the BBF TR-419 standard for Fiber Access Extension over coax networks. InCoax gained well international media recognition with approximately 100 articles published.
  • InCoax announces a rights issue release of SEK 41M fully guaranteed by one of the majority owners, Saugatuck Invest AB.

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 07.45 CET on March 26, 2021.

For more information:
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 future of broadband access. InCoax MoCA Access 2.5 platform provides the next generation cost-efficient Multi-Gigabit Fiber Access Extension solutions to the world’s leading telecom, cable- and broadband service providers.  To keep updated on corporate information, visit incoax.com. Augment Partners AB, tel. +46 8-505 651 72 info@augment.se, is acting as the company’s Certified Adviser.

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