InCoax Networks AB Interim Report, January– JUNE 2022

Collaboration with Google Fiber continues according to plan. New business opportunity with the US Tier 1 operator under discussion and with potential order in 2022.

Financial performance

April – June 2022

  • Net sales amounted to SEK 4,140,375 (4,854,654), sales in line with previous year, driven by sales to a US-based FiberLAN operator.
  • Operating profit amounted to SEK -5,051,549 (-5,730,826), an improvement driven by increased of the RoD investment and a positive gross profit.
  • Earnings after tax amounted to SEK -5,076,491 (–5,760,364), and earnings per share amounted to SEK -0,12 (–0,16).
  • The quarter’s cash flow incl. financing activities was SEK -11,021,625 (25,360,137).

January – June 2022

  • Net sales amounted to SEK 9,828,524 (10,025,343), sales in line with previous year, driven by sales to a US-based FiberLAN operator.
  • Operating profit amounted to SEK -11,344,719 (-12,841,631), an improvement driven by increased of the R&D investment and a positive gross profit.
  • Earnings after tax amounted to SEK -11,402,103 (–12,891,586), and earnings per share amounted to SEK -0,28 (–0,35).
  • The quarter’s cash flow incl. financing activities was SEK 2,312,976 (17,955,482).

Significant events during the quarter

  • InCoax wins additional order of 3MSEK from US FiberLAN operator.
  • Kevin Foster steps down as a board member of InCoax at the 2022 Annual General Meeting.
  • Tobias Lennér is elected as new member of the board at the 2022 Annual General Meeting.

Significant events after the end of the quarter

  • InCoax informs about the business situation and communicates updated financial targets.
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