The agreement concerns Acconeer's radar sensors along with related modules and evaluation kits (EVK) for the Turkish market. Ansal Component provides component supply services to organizations that provide R&D services and produce Electronic Systems in Turkey.
CEO Lars Lindell comments: “The Turkish market is large and strategically important in the region, and we are happy to sign Ansal as our distributor to better access that area.”
In the second quarter 2023, Acconeer's net sales amounted to kSEK 6,399. Close to 15,000 modules and 67,000 sensors were sold. In total, Acconeer has sold 1,656,662 radar sensors and 149,678 modules since launch. In the quarter as much as 425 evaluation kits were sold, and an accumulated 6,669 EVKs have been sold since launch. The gross margin in Q2 was 61% and eight new customer products were launched.
CEO Lars Lindell comments: “We are of course disappointed by the weak sales, but seeing strong sales of EVKs and high customer activity we are convinced that the weak sales are due to the general temporary industry downturn. Besides this, the most important event during Q2 was the new regulations for the US market, which will open up for new and existing customers to expand their business in North America.”
SECOND QUARTER
FIRST SIX MONTHS
SIGNIFICANT EVENTS DURING THE SECOND QUARTER
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
The interim report is attached to this press release and available through Acconeer's website: https://investor.acconeer.com/en/financial-reports/.
Acconeer has signed a contract with Convergence Promotions LLC to promote and sell Acconeer’s Pulsed Coherent Radar products on the North American market including the US, Canada and Mexico. The contract means that Convergence Promotions will promote Acconeer products and build a large network of sales representatives, starting from today. This way Acconeer will complement the current sales setup with much increased coverage all over North America.
Magnus Gerward, Head of Business Development, Acconeer comments: “The US market is one of the most important ones globally, and we have seen strong sales figures for our evaluation kits there for several years. Based on this we want to strengthen our sales presence, and with the recent decision by the FCC to update the regulations for 60GHz radar the timing to do so is optimal. We look forward to seeing what customers and business leads the collaboration with Convergence Promotions will bring!”
Glenn ImObersteg, President of Convergence states, “It’s a privilege to represent a technology leader like Acconeer in North America, and anticipate great success in bringing their market-leading low-power radar products for IoT, Industry and consumer solutions to our established buyer network and marketing territories.”
The agreement concerns Acconeer's radar sensors along with related modules and evaluation kits (EVK) for the Israeli market. Data JCE Electronic Inc. was founded in 1995 and provides original, quality, and dependable semiconductors to a wide range of customers.
CEO Lars Lindell comments: “Just like Sweden, Israel has one of the most innovative markets in the world with customers globally. We believe the partnership with Data JCE Electronic is a strategic way for us to access that market.”
The order relates to Acconeer’s A111 Pulsed Coherent Radar sensor for customers’ mass production, as well as evaluation kits (EVK) for the new A121 PCR sensor. BEYD is Acconeer's Chinese distributor and remains an important sales channel for the company.
CEO Lars Lindell comments: “After a period of lower activity in China due to the Covid-19 outbreak, we now see an uptake in customer interest and progress again.”
In addition to publicly announced orders, Acconeer continuously receives orders of smaller amounts which are not publicly announced as they are not considered to affect the share price.
Acconeer AB ("Acconeer") has today entered into an agreement with Buntel AB and Exelity AB through which Buntel AB and Exelity AB provide Acconeer with a loan facility of up to SEK 60 million. The loan facility is intended to be used to enable Acconeer to achieve operational milestones. From and including October 1, 2023 until the time of expiration of the loan facility, Acconeer has the possibility to draw down under the loan facility through a total of two payments of a maximum of SEK 30 million each. A first payment can be called upon by Acconeer in the fourth quarter of 2023, and the second in the second quarter of 2024. Loans under the facility fall due on December 31, 2024 and bear a monthly interest rate of Stockholm Interbank Offered Rate (STIBOR) + 1.0 percent.
CEO Lars Lindell comments: "This loan facility enables us to continue expanding our working capital, complete the development of the upcoming A2 sensor, and invest in increased sales resources internationally."
The lenders are given the right, starting from the first disbursement, to twice call for the conversion of debt into equity, in directed new share issues, at a subscription price amounting to 10 percent discount to the volume-weighted share price during the 15 trading days preceding the call. A short selling ban is in place, and the conversions are restricted to not more than SEK 15 million per conversion (i.e. not more than SEK 30 million in total). There are also restrictions regarding the timing of these conversions.
For additional information, please contact:
Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com
This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on May 11, 2023, 21:55.
The following documents can be retrieved from beQuoted
Acconeer-enters-into-loan-facilities-agreement.pdf
About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.
The order relates to Acconeer's XM122 IoT Module, for use in inventory tracking modules. SweIoT is a Swedish expert company within IoT and sensors providing both products and services to customers.
CEO Lars Lindell comments: "We have worked with SweIoT as a partner for several years and this volume order is a confirmation that Acconeer's popular XM122 radar module is a great fit for SweIoT's energy-efficient IoT products with compact design. Inventory tracking and other applications within logistics is an interesting area where we are confident that we will see good progress going forward."
In addition to publicly announced orders, Acconeer continuously receives orders of smaller amounts which are not publicly announced as they are not considered to affect the share price.
For additional information, please contact:
Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com
This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on May 11, 2023, 10:15.
The following documents can be retrieved from beQuoted
Acconeer-receives-order-from-SweIoT.pdf
About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.
The order relates to Acconeer's A121 radar sensor for mass production of customer products in the industry and agriculture segment. Micro Summit K.K. (MSK) is a leading distributor of Micro-electronics components, electronics modules and electro-mechanical components in Japan.
CEO Lars Lindell comments: "We are very pleased to receive our first high-volume order of the new A121 radar sensor, which confirms that we have customers in the pipe already for A121-based products."
In addition to publicly announced orders, Acconeer continuously receives orders of smaller amounts which are not publicly announced as they are not considered to affect the share price.
For additional information, please contact:
Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com
This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on May 08, 2023, 10:30.
The following documents can be retrieved from beQuoted
Acconeer-receives-order-from-MSK.pdf
About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.
In the first quarter 2023, Acconeer's net sales amounted to kSEK 10,131. More than 20,000 modules and 116,000 sensors were sold. In total, Acconeer has sold 1,589,665 radar sensors and 134,979 modules since launch. In the quarter 303 evaluation kits were sold, and an accumulated 6,244 EVKs have been sold since launch. The gross margin in Q1 was 60% and six new customer products were launched.
CEO Lars Lindell comments: "The biggest news in Q1 2023 was that we could declare our A121 sensor ready for mass production, and customers can now buy it in volume from our distributors. Otherwise the quarter was weaker than expected, which is due to that our customers are reducing the inventories they built during the previous component shortage. After the end of the quarter, we were happy to receive an important design win in the automotive industry, with one of the world's largest car manufacturing companies."
FIRST QUARTER
SIGNIFICANT EVENTS DURING THE FIRST QUARTER
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
The interim report is attached to this press release and available through Acconeer's website: https://investor.acconeer.com/en/financial-reports/.
For additional information, please contact:
Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com
This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on April 21, 2023, 07:30.
The following documents can be retrieved from beQuoted
Q1-report-2023.pdf
Acconeer-Q1 2023 ENG 230421.pdf
About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.
Acconeer has received a design win for access control, which allows touchless opening of the trunk of a car using the A121 pulsed coherent radar sensor, with one of the world's leading multinational automotive manufacturing corporations. The forecasted value of the design win is estimated to USD 800k in the period 2024-2030. By "design win" Acconeer refers to that the company's radar sensor has been selected for use in a customer product, but it is not equivalent to that an order has been placed.
CEO Lars Lindell comments: "We are very happy to be able to announce an automotive design win with a new customer, this time with one of the top five automotive manufacturing corporations in the world. This shows that our progress is on track in the automotive industry, which we believe will be an important business area for us the coming years. It is also the first automotive design win for A121, which was recently launched."
For additional information, please contact:
Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com
This information is information that Acconeer AB is required to disclose by the EU Market Abuse Regulation. The information was provided by the above contact person, for publication on April 18, 2023, 20.00.
The following documents can be retrieved from beQuoted
Acconeer-receives-automotive-design-win.pdf
About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.
