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Wyld Networks’ Interim Report Q1 2022: Strong order intake of SEK 28.3 million in Q1

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The company commercially launches Wyld Connect, its satellite IoT module, into the market during the first quarter 2022 and receives purchases orders for SEK 28.3 million.

CEO Alastair Williamson:

“After launching Wyld Connect in Q1, we have built upon the huge amount of momentum in signing launch partners during the last 12 months and have converted three of these launch partner agreements into purchase orders. Wyld Networks has received purchase orders from a South African Agricultural company with a total value of SEK 17 million for delivery of the Wyld Connect modules over a four-year period, starting in April 2022. We have also received a purchase order with a value of SEK 11.3 million from Treevia – a Brazilian-based agricultural company. Additionally, we have received an initial purchase order from Axceta with significant potential for further orders.

This provides a total order book value of SEK 28.3 million generated in Q1. These orders do not include the purchase of data plans which will provide additional recurring revenue to the company. With the aim of con-verting all our launch partners agreements into purchase orders we are looking forward to the months ahead.”

Financial summary, Q1 2022

  • Total income, SEK k
    Q1: 946 (1,700)
  • Total EBIT, SEK k
    Q1: –7,067 (–5,133)
  • Earnings per share, SEK
    Q1: –0.85 (–0.86)

Significant events during Q1

  • Wyld Networks has now formed 22 partnerships with prospective service launch partners of which a further 7 partnerships have been added in this quarter: Agrology (USA), Snow Acres (Canada), TrakAssure (USA), Axceta (Canada), Instituto Constanta De Inovação (Brazil), Hazera (Israel) and Treevia (Brazil).
  • Wyld Networks’ satellite IoT product range, Wyld Connect, was made commercially available. This will enable customers to integrate the technology into new IoT sensors, or retrofit to existing IoT sensors, ahead of the commercial launch of Wyld’s full satellite network service in the second half of 2022.
  • Wyld Networks received purchase orders totalling SEK 28.3 million for Wyld Connect its satellite IoT module from companies in Brazil and South Africa. These orders do not include the data plan fees which will provide additional recurring revenue to the company when the service is launched.
  • The TO1 Warrants programme was subscribed at approximately 98.6 percent and Wyld Networks AB received SEK 25.2 million before costs.
  • Wyld Networks has entered into a formal agreement with American Tower to distribute the satellite-based IoT solution Wyld Connect in Brazil and will focus on rural areas that are not covered by terrestrial networks.
  • Wyld Networks announced it has partnered with Eutelsat Communications, Senet, and TrakAssure, forming a global consortium to bring integrated and interoperable terrestrial and satellite LoRaWAN® IoT connectivity to customers across the globe.

Significant events after Q1

  • Wyld Networks and Brinja, a Swedish specialist IoT hardware and software company, sign an agreement as a launch partner to offer Wyld satellite connectivity for IoT solutions for the construction industry and dispersed asset infrastructure monitoring.
  • The company forms a partnership with IMAE to deploy its Wyld IoT sensor-to-satellite technology with IMAE’s wind turbine technology in the utility sector in Brazil. IMAE will pilot Wyld’s solution and sign a commercial agreement.
  • Wyld shares began trading on the OTCQB Venture Market in the U.S. under the symbol “WYLDF”. Joining the OTCQB Venture Market allows over-the-counter trading in Wyld’s ordinary shares listed on the Nasdaq First North Growth Market. The purpose is to increase visibility and accessibility in the US capital market thereby providing greater liquidity and value to the company’s shareholders.

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

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 08:30 CEST on 31 May 2022.

For further information, please contact

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

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

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