InCoax Networks AB Year-End Report 2025

2025 ended with a result that did not meet our expectations and with continued negative cash flow. At the same time, the period marks the end of the most development-intensive phase in the company’s history, as the integration of InCoax’s product portfolio into Nokia’s Gigabit Connect platform is finalized. During the fourth quarter, a structural transition was initiated in which the company moves from a development phase to commercial execution, with a new management structure, a lower cost base, and a clear focus on sales and cash flow.

The objective is to reach positive cash flow within the coming year through strict capital discipline, cost reductions, and increased sales together with our partners. With the new structure in place, InCoax enters 2026 focused on execution, financial stabilization, and long-term profitable growth.

Financial performance

October – December 2025

• Net sales amounted to 9,027 kSEK (7,418).
• Operating profit (EBITA) totaled –10,512 kSEK (–7,547).
• Profit after tax was –10,882 kSEK (–7,645), and earnings per share were –0.08 SEK (–0.07).
• Cash flow for the quarter, including financing activities, amounted to –5,764 kSEK (–31,360).

January – December 2025

• Net sales amounted to 48,055 kSEK (74,498).
• Operating profit (EBITA) totaled –32,009 kSEK (-18,532).
• Profit after tax amounted to –32,560 kSEK (–19,150), and earnings per share amounted to  –0.25 SEK (–0.18).
• Cash flow for the period, including financing activities, amounted to 6,516 kSEK (-12,758).

Significant events during the quarter

• InCoax premieres new 5G mmWave FWA broadband extension with live demo at NetworkX in Paris.
• InCoax launches 5 Gbps over coax with MoCA Access 2.5 aggregation, solution now available.
• InCoax MoCA Access technology featured in “FWA Solution of the Year” at NetworkX Awards 2025.
• InCoax Networks AB Interim Report, July – September 2025.
• Jakob Tobieson appointed new CEO of InCoax Networks.
• InCoax accelerates the path to commercialization and profitable growth.
• InCoax organizes for commercial growth with new management team and market-driven structure in place.
• InCoax Networks AB’s board of directors has resolved on a financing package of approximately SEK 30 million, a directed issue of convertibles and warrants of SEK 25.1 million before issue costs, as well as a loan of SEK 5 million.

Significant events after the quarter

• Notice of an extraordinary general meeting in InCoax Networks AB, and a statement from the extraordinary general meeting, and an executed loan facility.
• InCoax whitepaper on sustainability and cost gains by reusing coax for multi-gigabit broadband in MDUs.

For 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 6, 2026.

For additional information, please contact:
Jakob Tobieson, CEO InCoax Networks AB
jakob.tobieson@incoax.com
+46 764- 95 52 60

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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