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2021-11-25

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 Access[TM] system solution.

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

This information is such information as InCoax Networks AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 08.30 CET on November 25, 2021.

For more information:

Jörgen Ekengren, CEO, InCoax Networks AB
jorgen.ekengren@incoax.com
+46 73- 899 55 52

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