InCoax Networks AB Interim Report, January – September 2021

InCoax has had its strongest quarter ever. D2501 launch opens up larger market.

Financial performance

July – September 2021

  • Net sales amounted to SEK 7,623,222 (346,553). Sales continue to be considerable higher than last year. This is driven by sales to a US Fiber/LAN operator.
  • The operating loss was SEK –3,676,744 (–17,160,056), an improvement due to increased sales and lower personnel cost.
  • The loss after tax was SEK -3,693,277 (–17,439,827), corresponding to earnings per share of SEK –0.10 (–0.95).
  • Cash flow including financing activities during the quarter was SEK -10,496,778 (-10,427,312).

January – September 2021

  • Net sales amounted to SEK 17,648,565 (1,068,214) Sales continue to be considerable higher than last year. This is driven by sales to a  US Fiber/LAN operator.
  • The operating loss was SEK,–16,518,375 (–48,768,163),  an improvement due to increased sales and lower personnel cost.
  • The loss after tax was SEK –16,584,863 (–49,159,530), corresponding to earnings per share of SEK -0.45 (–2.69).
  • Cash flow including financing activities during the period was SEK 7,458,704 (-26,642,745).

Significant events during the quarter

  • New product for the growing XGS-PON market pre-launched at Fiber Connect, on July 25-28 in Nashville, USA.
  • Launch of the D2501 control unit for small and mid-sized MDUs at the Broadband Forum UFBB vBASe 2021 virtual event on September 21.
  • Emil Bendroth is back at his position as regular CFO.
  • Morten Werther is recruited as new Head of Development and part of the Management Team. Enters position on August 23.

Significant events after the end of the quarter

  • US fiber/LAN-operator commence lab tests of InCoax D2501 DPU.
  • North American Tier 1 Operator successfully completes field trials with InCoax MoCA AccessTM system solution.

 

Full the full report, please download the attached PDF. The full report is also available at incoax.com.