The fourth quarter, as well as the full year of 2024, was characterized by intensive efforts to integrate our products into Nokia's Gigabit Connect offering for the global operator market. Our sales increased by 25% in 2024, and at the beginning of 2025, we received the first orders from Nokia, a leading global provider of fiber networks.
Financial performance
October - December 2024
- Net sales amounted to 7,418 kSEK (22,651).
- Operating result amounted to -7,745 kSEK (-5,485).
- Result after tax amounted to -7,646 kSEK (-5,375), and earnings per share amounted to -0.07 SEK (-0.07).
- Cash flow for the quarter, including financing activities, amounted to -31,360 kSEK (5,199).
January - December 2024
- Net sales amounted to 74,498 kSEK (59,619).
- Operating result amounted to -19,378 kSEK (-16,730).
- Result after tax amounted to -19,150 kSEK (-16,909), and earnings per share amounted to -0.18 SEK (-0.23).
- Cash flow for the period, including financing activities, amounted to -12,758 kSEK (-21,306).
Significant events during the quarter
- InCoax foresees significant market potential in Finland.
- InCoax receives order worth 0.45 million USD (appr. 5 million SEK) from the US-based FiberLAN operator.
- InCoax and Tarana accelerate broadband deployment in Cleveland: 47 buildings and 502 apartments connected in just 45 days.
- InCoax Networks AB (publ) publishes appointed Nomination Committee.
- InCoax Networks AB Interim Report, July - September 2024.
- InCoax secures orders worth 960 kUSD (appr. 10.5 million SEK) from the US-based FiberLAN operator.
Significant events after the quarter
- InCoax receives initial 1 MUSD order for InCoax MoCA Access solution from a leading global fiber network supplier.
- InCoax secures additional orders worth 1.36 MUSD (appr. 15 MSEK) from the US-based FiberLAN operator.
- InCoax and CTIconnect partner to expand broadband solutions in the US and Canada.
- InCoax MoCA Access based solution gains increasing traction in the network operator market.
- The board of InCoax provides preliminary financial information for the fourth quarter and fiscal year 2024.
- InCoax carries out a directed new share issue of approximately SEK 33.5 million, partly conditional on subsequent approval from an extraordinary general meeting, and brings forward the publication of the year-end report for 2024.
- Notice to an extraordinary general meeting of InCoax Networks AB
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 March 18, 2025.
For additional information, please contact:
Jörgen Ekengren, CEO, InCoax Networks AB
jorgen.ekengren@incoax.com
+46 73 899 55 52
About InCoax Networks AB
InCoax Networks AB (publ) re-purposes existing property coaxial networks in fiber and fixed wireless access (FWA) extension deployments for Communication Service Providers (CSP) globally. The technology is a high performance, future proof, reliable and cost-effective complement, that reduces installation time and improves take-up rate, to boost digital inclusion and Internet access for all.
To keep updated on corporate information, visit incoax.com. Vator Securities AB, tel. +46 8-5800 6599, ca@vatorsec.se, is acting as the company's Certified Adviser.
