InCoax Networks AB Annual Report 2024

InCoax took important steps in 2024 through increased sales, new strategic partnerships, and extensive preparations for a global launch together with Nokia. This development reflects a strengthened market position and the ability to address larger operators with growing broadband demands.

Financial performance

• Net sales amounted to SEK 74,794,775 (previous year: 59,619,447), corresponding to a 25 percent increase compared to the same period last year.
• The operating result for the year was SEK –19,378,406 (previous year: –16,729,885). The change is mainly due to increased development costs related to a strategic collaboration with a global fiber network provider, as well as postponed orders that are now expected to be fulfilled in 2025. These factors negatively impacted the operating result, although the gross margin remained high, thanks to a greater share of service and support in the product mix.
• The net result after tax amounted to SEK –19,150,134 (previous year: –16,908,631), corresponding to a loss per share of SEK –0.18 (–0.23).
• Cash flow including financing activities for the full year amounted to SEK –12,758,133 (–21,306,145).

Significant events after the end of the year

January

• InCoax secures additional orders worth 1.36 MUSD (appr. 15 MSEK) from the US-based FiberLAN operator.

February

• 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 receives initial 1 MUSD order for InCoax MoCA Access solution from a leading global fiber network supplier.
• 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 (due to the company’s new share issue).

March

• InCoax Networks AB Year-End Report 2024.
• Bulletin from the extraordinary general meeting in InCoax Networks AB. (The company receives SEK 31.6 million in issue proceeds after issuance costs.)

April

• InCoax wins additional order of 3.2 MSEK from the US-based Tier-1 operator.

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

The information was submitted for publication, through the agency of the contact persons set out below, at 08.30 CEST on May 23, 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.

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