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
- Net sales for the first quarter amounted to kSEK 10,131 (10,121).
- The gross margin on sales of goods was 60 (62)%.
- Result after taxes amounted to kSEK -12,127 (-13,881).
- Earnings per share before and after dilution was SEK -0,46 (-0,54).
- The cash flow from operating activities was kSEK -9,732 (-11,125).
SIGNIFICANT EVENTS DURING THE FIRST QUARTER
- Acconeer received order from Digi-Key worth USD 100k.
- Acconeer's pulsed coherent radar sensor A121 ready for mass production.
- Acconeer launched first A121-based radar module – XM125 Entry+ Module.
- Acconeer signed manufacturing agreement with leading semiconductor supplier.
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
- Acconeer signed distribution agreement with Korean TecAhead.
- Acconeer received automotive design win with a forecasted value of USD 800k.
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.
