Trading Update
Updated : 07:00
12 January 2022
CyanConnode Holdings plc
("CyanConnode" or the "Company")
Trading Update For The Nine Months Ended 31 December 2021
CyanConnode Holdings plc (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to provide a trading update for the nine-month period ended 31 December 2021.
Highlights for the period
· Turnover of £6.8m (2020: £3.4m)
· Cash at 31 December 2021 of £1.1m (2020: £1.0m)
· Approximately £5.9m cash received from customers (2020: £2.9m)
· 455k modules delivered to customers (nine-months to 31 December 2020: 259k)
· 3.1k gateways delivered to customers (nine-months to 31 December 2020: 0.2k)
Follow the link to view graph showing cumulative modules shipped to date:
http://www.rns-pdf.londonstockexchange.com/rns/1269Y_1-2022-1-11.pdf
John Cronin, CyanConnode's Executive Chairman, commented:
"We have continued to make solid progress during the financial year with successful deployments which have led to record turnover and cash collection. I am also pleased to confirm that the Company expects to meet market forecasts for the current financial year."
- Ends -
Enquiries:
CyanConnode Holdings plc Tel: +44 (0) 1223 225 060
John Cronin, Executive Chairman www.cyanconnode.com
Arden Partners plc (Broker and Nomad) Tel: +44 (0) 20 7614 5900
Paul Shackleton / Elliot Mustoe (Corporate Finance)
Simon Johnson (Corporate Broking)
About CyanConnode
CyanConnode (AIM:CYAN.L), is a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, which are used for machine to machine (M2M) communication. As well as being self-forming and self-healing, CyanConnode's RF Smart Mesh Networks are designed for rapid deployment, whilst giving exceptional performance and competitive total cost of ownership.
In June 2018, CyanConnode launched its award-winning Omnimesh Advanced Metering Infrastructure (AMI) platform, which has already gained considerable commercial traction, especially in India which is a key market for the Company.
Through a Global partner eco-system, which is vendor agnostic, CyanConnode has several routes to market, therefore it is well positioned to capitalise upon increasing Global demand for smart metering solutions.
For more information, please visit www.cyanconnode.com
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