InCoax Networks AB Year-End Report 2022

InCoax will continue to expand during 2023 by landing its biggest order ever.

Financial performance

October – December 2022

•Net sales amounted to SEK 14,611,207 (3,246,032), the quarter’s sales are affected by a shift of sales to the US-based Fiber/LAN operator.
• Operating profit amounted to SEK -3,254,341 (-7,813,550), an improvement partly due to a shift in sales to the US-based Fiber/LAN operator.
• Earnings after tax amounted to SEK -3,629,222 (–7,912,078), and earnings per share amounted to SEK -0.05 (–0.19).
• The quarter’s cash flow incl. financing activities was SEK 34,718,500 (9,991,241).

Full-year 2022

• Net sales amounted to SEK 25,922,260 (20,894,597). Turnover increased during the accounting year driven by the sales to the US-based Fiber/LAN operator.
• Operating profit amounted to SEK -22,329,647 (-24,331,925).
• Earnings after tax amounted to SEK -22,815,010 (–24,496,940), and earnings per share amounted to SEK -0.32 (–0.60).
• The full-year’s cash flow incl. financing activities was SEK 2,012,770 (17,449,944).

Significant events during the quarter

• InCoax secures additional order of USD 3.1 million (SEK 34.7 million) from the US based Fiber/LAN operator.
• Bulletin from the extraordinary general meeting in InCoax Networks AB.
• InCoax publishes prospectus in connection with rights issue.
• InCoax Networks AB (publ) publishes appointed Nomination Committee.
• InCoax announces outcome in rights issue.
• InCoax receives additional order of USD 0.9 million (SEK 9.4 million) from the US based Fiber/LAN operator.
• Mats Svensson appointed regular CFO in InCoax Networks AB.
• InCoax receives add-on order of USD 96k (SEK 975k) from the US based Fiber/LAN operator.
• InCoax wins order for Managed Services of 0.49 MUSD (5 MSEK) from the US-based Fiber/LAN operator.
• InCoax wins add-on order for Managed Services of 1 MSEK from the US-based Fiber/LAN operator.

Significant events after the end of the quarter

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