Wyld Networks’ Half-Year Report 2021: A strong second quarter performance

The second quarter 2021 exceeded Wyld Networks’ expectations with the company signing contracts with six new customers. These included Chevron in the oil and gas sector and Rijk Zwaan, in agricultural, who both signed-up to test and demonstrate Wyld Networks’ satellite Internet of Things (IoT) solution ahead of its commercial launch.

Commenting on the Half-Year Report, CEO Alastair Williamson said:

“We are very pleased to have been listed on the Nasdaq First North Growth Market this summer, realising funding that will allow Wyld Networks to further develop and commercialise our satellite IoT solution.

Our product Wyld Connect is currently in the pre-commercial test phase in advance if the commercial launch. Our strategy in this phase has been to focus on signing agreements with companies as test and launch partners.

In Q1, we signed contracts with Fujitsu, a global technology company, KWS, a global agricultural seed supplier, and Wezen in Brazil.

In Q2, we secured six new agreements with companies in global oil and gas, environment, and agriculture industries. We will continue to expand engagement with new partners in these markets, as well as in water and electricity utilities and in the maritime sector”.

Q2 in brief

Financial summary

• Receipt (of second and final part) of 2020 UK R&D tax credit as a cash payment of SEK 1.6 million (SEK 3.3 million received in 2021 in total)
• Total income of SEK 0.9 million (1.6)
• Net loss of SEK –9.7 million (–1.6)
• Earnings per share SEK –1.17 (based on 8,267,308 Issued and Authorised shares)

Events during Q2

• Delivery of the first five satellite test terminals to Eutelsat as part of a commercial agreement valued at SEK 1.3 million.
• Six new agreements secured in addition to those previously signed with companies such as Fujitsu, KWS and Wezen.
• Strengthened management team with the appointment of Christopher J. Caswell, who steps into the dual roles of Deputy CEO and CFO.
• Wyld Networks’ issue of units in connection with the listing on Nasdaq First North Growth Market was heavily oversubscribed, raising SEK 25 million before issue costs.

Events post Q2

• The company's shares began trading on the Nasdaq First North Growth Market.
• In light of the strong response in establishing new contracts with significant customers and the associated growth expansion, the company has put in place an accelerated operating plan and obtained a loan of SEK 12 million. In conjunction with the loan, the company has established an additional warrant program TO3 provided free of charge to existing shareholders.

The Half-Year Report is available to download at Wyld Networks’ website: www.wyldnetworks.com/investor-relations.

For further information, please contact:

Alastair Williamson, CEO Wyld Networks
E-mail: alastair.williamson@wyldnetworks.com 
Tel: +44 7 824 997 689

This information is such that Wyld Networks AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU No 596/2014). The information was submitted for publication, through the agency of the contact person above, at 07:30 CEST on 31 August 2021.

About Wyld Networks AB

Wyld Networks develop and sells innovative wireless technology solutions that enables affordable connectivity anywhere in the World, addressing the problems for businesses and people regarding the lack of global mobile network coverage. The solutions are mainly targeted to wireless connectivity for the Internet of Things (IoT) and people.

Wyld Networks Ltd was formed in Cambridge, UK in 2016 and is a wholly owned subsidiary of Wyld Networks AB.

The Wyld Networks share (WYLD) is traded on the Nasdaq First North Growth Market. Certified Adviser is Mangold Fondkommission AB (tel +46 8-5030 1550, email ca@mangold.se).

Read more on www.wyldnetworks.com