InCoax Networks AB Interim Report, April– June 2023

InCoax more than doubled its sales during Q2 2023 compared to the same period of last year. InCoax remains engaged in two advanced inquiries, both with great potential.

Financial performance

April–June 2023

  • Net sales amounted to SEK 9,318,146 (4,140,375), sales in line with budget, driven by sales to a US-based FiberLAN operator.
  • Operating profit amounted to SEK -6,316,637 (-5,051,551), a change driven by a smaller allocation to fixed assets but compensated at the same time of a positive gross profit margin.
  • Earnings after tax amounted to SEK -6,472,333 (–5,076,493), and earnings per share amounted to SEK -0.09 (–0.12).
  • The period’s cash flow incl. financing activities was SEK -11,331,218 (-11,021,625).

January–June 2023

  • Net sales amounted to SEK 22,249,808 (9,828,524), sales in line with budget, driven by sales to a US-based FiberLAN operator.
  • Operating profit amounted to SEK -9,399,145 (-11,344,718), an improvement driven by increased of the R&D investment and a positive gross profit.
  • Earnings after tax amounted to SEK -9,662,459 (–11,402,103), and earnings per share amounted to SEK -0.13 (–0.28).
  • The period’s cash flow incl. financing activities was SEK -9,207,547 (-20,304,808).

Significant events during the quarter

  • InCoax Networks AB strengthens the management team with Jakob Tobieson as Chief Operations Officer, COO.
  • InCoax receives add-on order of SEK 5M from the US based FiberLAN operator.

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