Wyld Networks’ Interim Report 1 January–30 September 2021: Acceleration into commercial phase

During the third quarter Wyld Networks made significant progress both in product and market development, thus accelerating the company into the emerging commercial phase and strengthening its position as a virtual satellite network operator.

Commenting on the Interim Report, CEO Alastair Williamson said:

“During the third quarter we successfully continued to secure partnerships and sign agreements with potential customers as launch partners and in addition, we have now started to see a transition into receiving purchase orders for Wyld Connect test terminals ahead of the full commercial launch of our satellite IoT service planned for mid-2022.

Looking ahead, our focus is to continue deliver on our commercialisation strategy. 2021 has been a transformational year for the Wyld Networks. We want to thank our shareholders and other stakeholders for your support during the year. 2022 is set to be an even more exciting year for Wyld, with the commercial launch of the company as a virtual satellite network operator for IoT services.”

Financial summary

• Total income, SEK k
  Q3: 726 (1,603)
  9 months: 3,302 (4,630)
• EBIT, SEK k
  Q3: –7,552 (–2,126)
  9 months: –22,157 (–5,727)
• Earnings per share, SEK
  Q3: –0.93 (–0.76)
  9 months: –3.31 (–2.03)

Significant events during Q3

• Wyld Networks successfully continued to secure partnerships and sign agreements with potential customers as launch partners. Up to the end of the Q3 2021 we have now secured agreements with eleven companies to participate in the test phase of our IoT solution.
• The company received an additional purchase order from Eutelsat, our satellite partner, for SEK 900,000 to deliver an additional 5 satellite IoT test terminals to continue the testing of the Wyld Connect product with the Eutelsat satellite constellation.
• Bayer Crop Science, a world leader in crop science placed a purchase order on the company to develop a bespoke satellite IoT terminal valued at SEK 320,000. We expect that once we have completed the development of this bespoke solution, we will commence volume manufacturing.
• The company 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. This finance will bring forward the recruitment of sales and development resources, to accelerate the commercialization of our solution in global markets.
• Henrik Hedelius joined the board of directors of Wyld Networks AB to strengthen the company in its growth phase.

Significant events after Q3

• Wyld Networks strengthened its technical and commercial position, protecting its IP and brand, with a published patent application for its cutting-edge technology and secured trademarks for the Wyld brand.
• The Company joined the LoRa Alliance®, the global association of companies backing the open LoRaWAN® standard for the Internet of Things (IoT), to ensure the company participates in the standardisation process within the industry for its solutions.

The Interim 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 CET on 30 November 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