CyanConnode announce significant increase in revenue

CyanConnode Holdings plc (LON:CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, has provided a trading update for the six months ended 30 September 2023 (H1 FY 2024).

Period Highlights

·    Turnover of £5.8 million for the six-month period, 4.3 times higher than the equivalent FY 2023 period (H1 FY 2023: £1.35 million). Revenue for the full financial year ended 31 March 2024 expected to be in line with market expectations.

·    Approximately £7.4 million cash received from customers during the period, 1.6 times higher than the equivalent FY 2023 period (H1 FY 2023: £4.5 million).

·    503k Omnimesh modules were shipped to customers during the period, 5.8 times higher than the equivalent FY 2023 period (H1 FY 2023: 86k).

·    1.4m Omnimesh modules ordered by IntelliSmart Infrastructure Pvt. Ltd. (IntelliSmart) for three new utility customers.

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