Wyld Networks’ Interim Report Q1 2023: Wyld Doubles Its Purchase Order Book And Plans To Go 5G

Wyld Networks has more than doubled its purchase order backlog in Q1 from SEK 35 million to 76 SEK million, demonstrating huge demand. At mid May the order backlog stands at SEK 92 million. 

Financial Summary, Q1 2023

Significant events during Q1

• Wyld Networks plans to add 5G NB-IoT to their current LoRaWAN satellite IoT capability increasing Wyld’s addressable market from US$670 million to US$1.3 billion by 2025.

• Wyld receives a purchase order for SEK 12.6 million for Wyld Connect modules from a company based in the Middle East for deployment into the agricultural sector over a four-year period.
   
• Wyld receives a purchase order for SEK 6.3 million for Wyld Connect modules from a US-based custom electronics manufacturing company.
   
• Wyld receives a purchase order for SEK 12.5 million for Wyld Connect modules from a company based in the Middle East for deployment into the utilities sector over a four-year period.
   
• Wyld receives purchase order for SEK 9.2 million for satellite IoT data service from South African agritech company.
    

Significant events after Q1

• Wyld receives a cash payment of approximately SEK 4.3 million from UK Government for R&D activities.
   
• Wyld receives a purchase order for Wyld Connect modules and terminals for SEK 8.8 million including SEK 0.5 million for Wyld Data from USA based systems integrator in the Oil and Gas sector.
   
• US-Based Simple Controls Systems Inc places order on Wyld for SEK 9.1 million for Wyld Connect module, terminals and data for tank level monitoring in oil and gas sector
   

CEO Alastair Williamson:

Having launched the commercial service in Q4, our commercial team’s main aim this quarter was to convert potential opportunities with existing partnerships into purchase orders. I’m so proud that they have delivered in this regard, taking booking SEK 41 million in this quarter. This more than doubled the order book of the whole of 2022 from SEK 35 million to SEK 76 million at the end of Q1.

We are particularly excited to start developing 5G NB-IoT capability into our existing LoRaWAN product offering.

The team have also released new features in both Wyld Connect and Wyld Fusion to support multi-operator capability. As the rapid growth of Satellite IoT continues this multi-operator capability will further enable scalability for Wyld Connect and the Wyld Data service.

As we look to meet high demand we are ramping up volume manufacturing to deliver against current and future orders.
 

The interim Report is available to download at Wyld Networks’ website:
https://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 08:30 CET on 22 May 2023.

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