InCoax Networks AB Year-End Report 2021
InCoax has experienced its strongest year ever.
Master Purchase Agreement with US-based Fiber/LAN operator and significant interest in InCoax’s newly introduced product line.
Financial performance
October – December 2021
• Net sales amounted to SEK 3,246,032 (2,720,249), higher sales than the previous year, driven by sales to the US-based Fiber/LAN operator.
• Operating profit amounted to SEK –7,813,550 (–8,637,219), an improvement driven by increased sales and a positive gross profit.
• Earnings after tax amounted to SEK –7,912,078 (–8,662,689), and earnings per share amounted to SEK -0.19 (–0.32).
• Cash flow incl. financing activities for the quarter were negative, however, a successful new shares issue was carried out, the capital was paid in at the beginning of the year 2022. The quarter’s cash flow incl. financing activities SEK -12,626,544 (13,999,744).
Full-year 2021
• Net sales amounted to SEK 20,894,597 (3,788,463), which is the highest annual sales in the company’s history. This is driven by sales to the US-based Fiber/LAN operator.
• Operating profit amounted to SEK –24,331,925 (–57,405,382), an improvement driven by increased sales, a positive gross profit, and lower personnel costs.
• Earnings after tax amounted to SEK –24,496,941 (–57,822,219), and earnings per share amounted to SEK –0.60 (–2.11).
• Cash flow incl. Financing activities for the period amounted to SEK -5,167,841 (-12,643,002).
Significant events during the quarter
• The US-based 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.
• InCoax enters Master Purchase Agreement with US-based Fiber/LAN operator Google Fiber Inc.
• Follow-on order of SEK 3.6M from the US-based Fiber/LAN operator.
Significant events after the end of the quarter
• InCoax wins additional order of SEK 2M from the US-based Fiber/LAN operator.
• InCoax announces the outcome for exercising warrants of series 2021.
• New interim CFO appointed.
• InCoax publicize new financial targets.
• InCoax offers cost-effective fiber extension broadband to UK Housing Associations’ Charitable Trust (HACT).
• InCoax secures additional order of SEK 2M from the US-based Fiber/LAN operator.
