InCoax Networks AB Interim Report, January– March 2021

Sales success with historically high revenue in combination with decreased costs.

 

Financial performance 

January–March 2021

  • Net sales amounted to SEK 5,170,689 (241,767), the highest invoicing in a quarter in the company’s history. This is driven by invoicing to a large North American customer.
  • The operating loss was SEK –7,110,805 (–17,371,881), an improvement due to increased sales and lower personnel cost.
  • The loss after tax was SEK –7,131,222 (–17,411,159), corresponding to earnings per share of SEK –0.26 (–0.95).
  • Cash flow including financing activities during the quarter was SEK -7,404,655 (-17,122,806).

 

Significant events during the quarter

  • InCoax receives follow-on order of SEK 3.2M from US Fiber/LAN operator.
  • North American Tier 1 operator extends cooperation with InCoax and the product development proceeds according to plan.
  • Initial order (via VAR) from US based system integrator specialized in Garden Style Apartment Complexes.
  • InCoax becomes member of US based Fiber Broadband Association.
  • InCoax, BBF and MoCA articles published on the release of the BBF TR-419 standard for Fiber Access Extension over coax networks. InCoax gained international media recognition with approximately 100 articles published.
  • InCoax announces a rights issue release of SEK 41M fully guaranteed by one of the majority owners, Saugatuck Invest AB

 

Significant events after the end of the quarter

  • InCoax receives two follow-on orders of SEK 5M total from US Fiber/LAN operator.
  • InCoax carries out a new rights issue release of SEK 41,163,592.50 before issue costs, fully guaranteed by one of the main owners Saugatuck Invest AB
  • InCoax intensify marketing and communication strategy through panel discussion participation with leading broadband technology actors such as; the Broadband Forum, British Telecom and Verizon/MoCA. Additional articles are published with significant impact in the trade press and cost-effective targeted marketing through social media.

 

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