InCoax Networks AB (publ) (INCOAX) Q1 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Incoax has also closed its books for the first quarter of 2024, and next to me is Jörgen Ekengren, who is the CEO. Welcome. Thank you very much. This quarter's results are disappointing. You reported a turnover of 30.8 million kronor, which is equivalent to last year's first quarter of 12.9 million kronor. You have somewhat decreased gross margin than last year, but still black figures. EBIT 4.3 million kronor. How do you look at the quarter, Jörgen? No, of course we are very happy that we have been able to get this result in the first quarter. For me, it also shows where we have to be in order to be able to make money sustainably. Then of course, we are still in a phase where we are building up the customer base. Right now we are very dependent on one customer, Google Fiber, who on the other hand is doing very well and we have a very close collaboration with. With good transparency and all the components that make it possible to develop the business in a very good way. And that is reflected in Q1 sales now. Yes, Google Fiber. The sales were primarily driven by that particular customer. You received an order of about 21 million kronor. Is this a volume that we can expect to continue from that particular customer in the future? We have seen a continuous increase in sales with Google Fiber. And as I said, we have a close collaboration. We have very good transparency. in a good way towards what their demand looks like. We have continual follow-ups. So now we'll see. Everything depends on how the operators, and in this case Google Fibers, roll out if you really sell it through in the range that you have planned for. So far, it has looked very good. If that continues, then I see a a good, increasing trend forward. And are we talking volume or are we talking pace? Can we s...