In the latest trading update, CyanConnode Holdings plc (LON:CYAN), a leading provider in smart metering solutions, has demonstrated an exceptional performance that surpasses expectations, highlighting its pivotal role in the smart energy sector.
Exceptional Revenue Growth and Financial Stability
CyanConnode’s financial year 2024 (FY24) saw a significant leap in revenue, surpassing the consensus expectations of £16.1 million. This growth was primarily driven by a 2.5-fold increase in module deliveries, underscoring the company’s effective implementation of smart metering orders in India’s Revamped Distribution Sector Scheme (RDSS). The company’s strong performance is further bolstered by a 58% year-over-year increase in cash receipts, totalling £16.9 million. This robust cash flow enhances the company’s net cash position, fostering a stable financial base for continued growth and innovation.
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.
