InCoax Networks AB Interim Report, January– March 2023

During Q1, deliveries to the US-based fiber/LAN operator Google Fiber continued, and together with other sales, this meant a strong quarter for InCoax in which the sales was more than doubled, compared to the same quarter of 2022.

Financial performance

January–March 2023

  • Net sales amounted to SEK 12,931,661 (5,688,149), higher sales than the previous year, driven by sales to a US-based Fiber/LAN operator.
  • Operating profit amounted to SEK -3,082,507 (–6,293,170), an improvement driven by increased sales and a positive gross profit.
  • Earnings after tax amounted to SEK -3,190,126 (–6,325,613), and earnings per share amounted to SEK -0.04 (–0.15).
  • The quarter’s cash flow incl. financing activities was SEK 2,123,671 (-9,283,184).

Significant events during the quarter

  • Alf Eriksson appointed Chief Product and Portfolio Officer.
  • InCoax Networks AB announces change of Certified Adviser to Vator Securities AB.

Significant events after the end of the quarter

  • InCoax Networks AB strengthens the management team with Jakob Tobieson as Chief Operations Officer, COO.
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