In the third quarter 2020, Acconeer AB's net sales amounted to kSEK 2,780, and five new customer products were launched. The cash flow from operating activities was kSEK -9,338. During the quarter, 345 evaluation kits (EVK) were sold, which is above the company's target of selling on average three EVK per day.
Lars Lindell, CEO Acconeer, comments: "During the third quarter we have worked together with Alps Alpine to define the next generation radar sensor, A2, to be able to convert the MOU established earlier this year into a signed contract during Q4 2020."
THIRD QUARTER 1 JULY- 30 SEPTEMBER 2020
- Net sales for the third quarter amounted to kSEK 2,780 (1,693).
- The Gross margin was 52 (109)%.
- Result after taxes amounted to kSEK -12,325 (-15,476)
- Earnings per share before and after dilution was SEK -0.53 (-0.79).
- The cash flow from operating activities was kSEK -9,338 (-12,594).
- Cash and cash equivalents including short term deposits at the balance date amounted to kSEK 95,611 (93,812).
JANUARY- SEPTEMBER 2020
- Net sales for the nine months period amounted to kSEK 6,549 (3,679).
- The Gross margin was 56 (59)%.
- Result after taxes amounted to kSEK -46,861 (-49,074).
- Earnings per share before and after dilution was SEK -2.20 (-2.55).
- The cash flow from operating activities was kSEK -38,068 (-41,178).
SIGNIFICANT EVENTS DURING THE THIRD QUARTER
- Acconeer received an order from Digi-Key worth USD 52,000.
- Acconeer received an order from BEYD worth USD 164,000 USD.
- Björn Bengtsson was appointed as new CFO at Acconeer.
- Acconeer signed a purchase agreement with Future Electronics.
- Acconeer has shipped more than 200 000 A1 radar sensors since the company started selling evaluation kits.
- It is the company's assessment that the effects of Covid-19 will have a limited impact on operations in 2020. No impact is seen on either the development or the manufacturing side. With regard to demand for the company's products, it is likely that some customer projects will be delayed, but the assessment is that this is within the uncertainty margin that always exists.
The year-end 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 October 27, 2020 09.00.
The following documents can be retrieved from beQuoted
Acconeer-Q3-Interim-Report 201027.pdf
AcconeerInterim-Report-Q3-2020.pdf
About Acconeer AB
Acconeer is a leading radar sensor company based in Lund, south Sweden, in Ideon, the country's hottest region for wireless technologies. Acconeer is developing a truly leading ultra-low power, high precision 3D sensor which will revolutionize the way that mobile devices interpret their surroundings. Acconeers ultra-low power and millimeter precision sensor will be a robust and cost-effective solution for applications ranging from virtual reality and gaming to security and robot control. Information from the sensor can also be used to identify different materials, these are just some examples of the wide range of possibilities of application areas for the sensor. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA) and can be reached via telephone +46 (0)8 121 576 90 or via mail certifiedadviser@redeye.se. For more information: www.acconeer.com