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CyanConnode exceeds full-year revenue expectations

Smart mesh network technology company CyanConnode said unaudited turnover for its financial year exceeded market expectations at £9.3m, up from £6.4m year-on-year.

The AIM-traded firm said cash at year-end on 31 March totalled £2.4m, rising from £1.5m a year earlier, while cash received from customers during the period totalled £8.2m, up from £5.3m.

A total of 612,000 modules were delivered to customers during the year, growing from 481,000 in 2021.

CyanConnode Holdings plc (LON:CYAN) is a world leader in the design and development of Narrowband RF mesh networks that enable Omni Internet of Things (IoT) communications. 

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