InCoax Networks AB Year-End Report 2021

InCoax has experienced its strongest year ever.

Financial performance

October – December 2021

• Net sales amounted to SEK 3,246,032 (2,720,249), higher sales than the previous year, driven by sales to the US-based Fiber/LAN operator.
• Operating profit amounted to SEK –7,813,550 (–8,637,219), an improvement driven by increased sales and a positive gross profit.
• Earnings after tax amounted to SEK –7,912,078 (–8,662,689), and earnings per share amounted to SEK -0.19 (–0.32).
• Cash flow incl. financing activities for the quarter were negative, however, a successful new shares issue was carried out, the capital was paid in at the beginning of the year 2022. The quarter's cash flow incl. financing activities SEK -12,626,544 (13,999,744).

Full-year 2021

• Net sales amounted to SEK 20,894,597 (3,788,463), which is the highest annual sales in the company's history. This is driven by sales to the US-based Fiber/LAN operator.
• Operating profit amounted to SEK –24,331,925 (–57,405,382), an improvement driven by increased sales, a positive gross profit, and lower personnel costs.
• Earnings after tax amounted to SEK –24,496,941 (–57,822,219), and earnings per share amounted to SEK –0.60 (–2.11).
• Cash flow incl. Financing activities for the period amounted to SEK -5,167,841 (-12,643,002).

Significant events during the quarter

• The US-based Fiber/LAN-operator commence lab tests of InCoax D2501 DPU.
• North American Tier 1 Operator successfully completes field trials with InCoax MoCA Access^TM system solution.
• InCoax enters Master Purchase Agreement with US-based Fiber/LAN operator Google Fiber Inc.
• Follow-on order of SEK 3.6M from the US-based Fiber/LAN operator.

Significant events after the end of the quarter

• InCoax wins additional order of SEK 2M from the US-based Fiber/LAN operator.
• InCoax announces the outcome for exercising warrants of series 2021.
• New interim CFO appointed.
• InCoax publicize new financial targets.
• InCoax offers cost-effective fiber extension broadband to UK Housing Associations' Charitable Trust (HACT).
• InCoax secures additional order of SEK 2M from the US-based Fiber/LAN 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 March 29, 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.