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.
