InCoax Networks AB Interim Report, January – September 2022

The collaboration with Google Fiber continues according to plan, with InCoax’s largest order ever. A US Tier 1 operator has placed an initial order.

Financial performance

July – September 2022

  • Net sales amounted to SEK 1,482,530 (7,623,222), the quarter’s sales are affected by a shift of sales to the US-based FiberLAN operator.
  • Operating profit amounted to SEK -7,730,587 (-3,676,743), a decline due to a shift in sales to the US-based FiberLAN operator.
  • Earnings after tax amounted to SEK -7,783,684 (–3,693,276), and earnings per share amounted to SEK -0.19
    (–0.10).
  • The quarter’s cash flow incl. financing activities was SEK -12,400,922 (-10,496,778).

January – September 2022

  • Net sales amounted to SEK 11,311,054 (17,648,565), turnover is lower than the previous year, due to the shift of sales to the US-based FiberLAN operator.
  • Operating profit amounted to SEK -19,075,305 (-16,518,374), a deterioration driven by the shift in sales to the US-based Fiber/LAN operator. However, the deterioration was reduced of increased provision for fixed assets.
  • Earnings after tax amounted to SEK -19,185,788 (–16,584,862), and earnings per share amounted to SEK -0.47 (–0.45).
  • The quarter’s cash flow incl. financing activities was SEK 10,087,947 (7,458.704).

Significant events during the quarter

  • InCoax informs about the business situation and communicates updated financial targets.
  • InCoax awarded initial order from the US based Tier-1 operator.
  • InCoax carries out a rights issue of approximately SEK 50.1 million and proposes an authorization for an overallotment issue of an additional approximately SEK 15.0 million.

Significant events after the end of the quarter

  • InCoax launches product for home networks.
  • InCoax secures additional order of USD 3.1 million (SEK 34.7 million) from the US based Fiber/LAN operator.

 

InCoax Networks AB Interim Report, January – September 2022 (PDF)

2022_Q3_Incoax_ENG_final (PDF)