MAR Archives - Acconeer

Interim report Q2 2024

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In the second quarter 2024 Acconeer’s net sales amounted to kSEK 15,138 and the gross margin was 61%. As many as nearly 270,000 radar sensors were sold in the quarter. In addition, more than 25,000 modules and 414 evaluation kits, EVK, were sold. A total of 18 new customer products were launched.

CEO Ted Hansson comments: “I am very pleased to begin my time as CEO of Acconeer by reporting record high quarterly revenues of SEK 15.1 million. We also see once again a quarter with very strong development in the automotive industry, which is promising for future earnings.”

SECOND QUARTER

Net sales for the second quarter amounted to kSEK 15,138 (6,399).
The gross margin on sales of goods was 61 (61) %.
Result after taxes amounted to kSEK-6,930 (-13,498).
Earnings per share before and after dilution was SEK -0.12 (-0.51).
The cash flow from operating activities was kSEK -6,280 (-10,803).

FIRST SIX MONTHS

Net sales for the first six months amounted to kSEK 26,436 (16,530).
The gross margin on sales of goods was 59 (60) %.
Result after taxes amounted to kSEK-19,171 (-25,625).
Earnings per share before and after dilution was SEK -0.44 (-0.97).
The cash flow from operating activities was kSEK -18,498 (-20,535).
Cash and cash equivalents on the balance sheet date amounted to kSEK 109,017 (30,541).

SIGNIFICANT EVENTS DURING THE SECOND QUARTER

Acconeer received order from BEYD worth USD 180,000.
Acconeer received order from European IoT provider worth USD 100,000.
Acconeer announced automotive design win with an estimated value of USD 30 million, for the first time including next generation radar sensor A2.
Acconeer and Sandvik receives research grant of SEK 3.5 million for material classification.
Acconeer announced 5 automotive design wins to an estimated value of more than USD 4 million.
Acconeer appointed Ted Hansson as new CEO.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

No significant events after the end of the period.

The report is attached to this press release and available through Acconeer's website: https://www.acconeer.com/investor_page/home/financial-reports/.

About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer Q2 2024 en

2024-07-19

Acconeer appoints Ted Hansson as new CEO to drive sales growth

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Acconeer AB (publ) (Ticker: ACCON), a leader in radar sensor technology, announces the appointment of Ted Hansson as its new Chief Executive Officer, effective July 1st, 2024.

Ted Hansson brings extensive experience in driving sales and business growth in the
technology sector. Based in Asia, he has over 20 years of experience in managing and scaling global semiconductor business and previously held senior leadership roles at Fingerprint Cards AB,
including President of Mobile, PC, and Access China business, and interim group CEO. He has also worked for Ericsson and Samsung Semiconductor. Ted will be based at Acconeer's Malmoe headquarters. Ted holds a Master’s degree in electrical engineering.

Thomas Rex, Chairman of the Board, commented:
“We are thrilled to welcome Ted to Acconeer. His proven track record in driving sales and
expanding market reach in the tech sector makes him the ideal leader for our next growth
phase. Ted played a crucial role in establishing Fingerprints as a dominant player in the
smartphone market and expanding into laptops. We look forward to his contributions in
advancing our strategic goals and enhancing shareholder value."

"I also want to thank Lars Lindell for his enormous contribution over the past 9 years,
transforming Acconeer from a startup to a leading player in the industry."

Incoming CEO Ted Hansson stated:
“I am excited and honored to join Acconeer at this pivotal time. Acconeer’s innovative radar
technology is poised for further deployment across multiple industries. I look forward to working
with the talented team to drive sales growth, market expansion, and value for our customers
and shareholders.”

About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer appoints Ted Hansson as new CEO to drive sales growth

2024-06-13

Acconeer announces 5 automotive design wins to an estimated value of more than USD 4 million

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Acconeer’s A121 Pulsed Coherent Radar sensor has been designed into five additional car models from a leading Japanese automotive manufacturer, following the one announced in January this year. The design wins are for the use case access control, which allows touchless opening of the trunk of a car. The total forecasted value of the design wins is USD 4 million over a seven-year period starting in 2025. By "design win" Acconeer refers to that the company's radar sensor has been selected for use in a customer product, but it is not equivalent to that an order has been placed.

CEO Lars Lindell comments: “We are happy to see yet another design win with this manufacturer, and we take it as a confirmation that they are happy with our product. This design win together with other recently announed ones are indications that our solution is becoming a standard product with several OEMs, which puts us in a great position for even more design wins in the future.”

In total, Acconeer has now seen 6 launched car models and 26 design wins in the automotive industry. The total forecasted value of all announced design wins is USD 74 million in the period 2024-2032. A design win is counted when a formal nomination is received, or when forecasted sales can be done with high reliability.

About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer announces 5 automotive design wins to an estimated value of more than USD 4 million

2024-06-03

Acconeer and Sandvik receive research grant of SEK 3.5 million for material classification

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Sweden's innovation agency Vinnova has decided to award Acconeer and Sandvik a grant totaling SEK 3.5 million, of which Acconeer's share is SEK 2.5 million, for research into automated material classification with radar. The project will begin in Q3 2024 and is planned to be completed in the second half of 2026.

In this project Sandvik and Acconeer will combine their strengths to develop a material classification system for rock crushing conveyor belt applications. The system will provide information on different types of materials and particle size distributions and identify deviations towards the requirements on the produced material.

CEO Lars Lindell comments: "Material classification is something we have been looking into for many years, and with this grant we get the opportunity to take our research one step further. The fact that we also get the chance to do it together with a large global player like Sandvik gives us the possibility to test our application in an advanced industrial environment."

From Vinnova's justification: "A well-written application with actors at the forefront. The automated material classification described is considered to have high potential with several different areas of application in addition to the rock crusher that is in focus. The project plan is assessed as realistic with a good division between the actors."

About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer and Sandvik receive research grant of SEK 3.5 million for material classification

2024-05-23

Interim report Q1 2024

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In the first quarter 2024, Acconeer's net sales amounted to kSEK 11,298. Close to 13,000 modules and more than 170,000 sensors were sold. In total, Acconeer has sold 2,077,031 radar sensors and 183,916 modules since launch. In the quarter 436 evaluation kits were sold, and an accumulated 7,777 EVKs have been sold since launch. The gross margin in Q1 was 56% and 8 new customer products were launched.

CEO Lars Lindell comments: "We had a good quarter with increased sales both compared to Q4 and Q1 2023. In addition, we continue to see good progress in the automotive industry, where we were able to report on both launched car models and new design wins. It is especially gratifying that we received our first design win for our upcoming radar sensor, A2.”

FIRST QUARTER

Net sales for the first quarter amounted to kSEK 11,298 (10,131).
The gross margin on sales of goods was 56 (60) %.
Result after taxes amounted to kSEK-12,241 (-12,127).
Earnings per share before and after dilution was SEK -0.45 (-0.46).
The cash flow from operating activities was kSEK -12,218 (-9,732).

SIGNIFICANT EVENTS DURING THE FIRST QUARTER

Acconeer announced automotive design win to an estimated value of USD 5 million.
The Board of Acconeer decided to carry out a fully guaranteed rights issue of approximately SEK 150 million, financial targets and preliminary financial information for FY 2023 was announced.
Acconeer received largest order yet from NEXTY Electronics worth 1,8 million USD.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

Acconeer received order from BEYD worth USD 180,000.
Acconeer received order from European IoT provider worth USD 100,000.
Acconeer announced automotive design win with an estimated value of USD 30 million, for the first time including next generation radar sensor A2.

The report is attached to this press release and available through Acconeer's website: https://www.acconeer.com/investor_page/home/financial-reports/.

About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer Q1 2024

2024-05-14

Acconeer announces automotive design win with an estimated value of USD 30 million, for the first time including next generation radar sensor – A2

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For the first time, Acconeer’s upcoming next generation A2 Pulsed Coherent Radar sensor has been selected for in-cabin monitoring in a car. In addition, Acconeer’s A1 radar sensor has been selected for the use case access control – which allows touchless opening of the trunk of a car – in the same car model, by a European premium car manufacturer. The total estimated value of the design win is around USD 30 million over a seven-year period starting in 2026. By "design win" Acconeer refers to that the company's radar sensor has been selected for use in a customer product, but it is not equivalent to that an order has been placed.

For in-cabin monitoring three interior detection use cases are implemented; child presence detection, seatbelt reminder and theft alarm.

CEO Lars Lindell comments: “To have our coming A2 sensor selected for use in cars already, based on the good performance of our prototype, is a huge milestone for us as a company as well as it being the largest design win in the company’s history. In addition, we have previously won several design wins with the same manufacturer, and to get this design win on a new car platform is a strong proof of that they are happy with the performance of our products and with our collaboration.”

In total, Acconeer has now seen four launched car models and 15 design wins with five different manufacturers in the automotive industry. The total forecasted value of all announced design wins is USD 70 million in the period 2024-2032. A design win is counted when a formal nomination is received, or when forecasted sales can be done with high reliability.

About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer announces automotive design win with an estimated value of USD 30 million, for the first time including next generation radar sensor – A2

2024-04-16

Acconeer receives order from European IoT provider worth USD100,000

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The order relates to Acconeer’s Pulsed Coherent Radar sensors A121 and A111 for mass production. The customer is a leading IoT solutions provider serving its customers highly accurate end-to-end remote tank monitoring solutions.

CEO Lars Lindell comments: “This customer has created a highly accurate, battery powered remote tank level monitoring solution. We are excited to see their volume production ramp up and look forward to following their progress in the large global tank monitoring market.”

In addition to publicly announced orders, Acconeer continuously receives orders of smaller amounts which are not publicly announced as they are not considered to affect the share price.

About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer receives order from European IoT provider worth USD100,000

2024-04-08

Acconeer receives order from BEYD worth USD180,000

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The order relates to Acconeer’s A111 and A121 Pulsed Coherent Radar sensor for customers’ mass production. BEYD is Acconeer's Chinese distributor and remains an important sales channel for the company.

CEO Lars Lindell comments: “We are happy to receive a large order from BEYD showing that the interest and demand for our products in China is still high.”

In addition to publicly announced orders, Acconeer continuously receives orders of smaller amounts which are not publicly announced as they are not considered to affect the share price.

About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer receives order from BEYD worth USD180,000

2024-04-02

The Board of Directors of Acconeer has resolved to carry out a fully guaranteed rights issue of up to approximately SEK 149 million

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On 29 January 2024, Acconeer AB (“Acconeer” or the “Company”) announced its intention to carry out a fully guaranteed rights issue with preferential rights for existing shareholders (the “Rights Issue”). The Board of Directors of Acconeer has today, based on authorization granted by the Extraordinary General Meeting held on 1 March 2024, resolved on the terms that shall apply to the Rights Issue. The entire Rights Issue is since earlier covered through a combination of subscription undertakings and guarantee commitments. In addition, BGA Invest AB, the Company's largest shareholder, has on 4 March 2024 entered into a subscription undertaking of SEK 10 million. The subscription price in the Rights Issue amounts to SEK 4.20 per share. Through the Rights Issue, the Company is expected to receive approximately SEK 149 million before deductions for transaction costs.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO SECTION “IMPORTANT INFORMATION” BELOW.

Summary

Existing shareholders in the Company receive one (1) subscription right for each share held on the record date. Three (3) subscription rights entitle the subscription of four (4) new shares in the Rights Issue.
The subscription price in the Rights Issue is SEK 4.20 per share, which corresponds to a discount of approximately 27.7 per cent compared to the theoretical price after the separation of subscription rights, based on the closing price for the Acconeer share on 4 March 2024 on Nasdaq First North Growth Market.
Through the Rights Issue, the Company will receive approximately SEK 149 million before deductions for transaction costs.
The net proceeds are intended to be used for the following purposes:
- repayment of debt, including accrued interest, to Buntel AB and Exelity AB (about SEK 32 million) and the Swedish Tax Agency (about SEK 15 million);
- research and development, in particular the completion of A2, Acconeer’s next generation radar sensor; and
- general corporate purposes, aimed at, but not limited to, accelerating sales.
The record date for participating in the Rights Issue is 12 March 2024.
The subscription period in the Rights Issue takes place from and including 14 March 2024, up to and including 28 March 2024.
For existing shareholders who refrain from participating in the Rights Issue, the dilution amounts to approximately 57.1 per cent of the number of shares and votes in the Company after the Rights Issue.
The Rights Issue is fully covered by a combination of subscription undertakings, including from the largest shareholder BGA Invest AB, the Chairman of the Board Thomas Rex and the Company's CEO Lars Lindell, and guarantee commitments.

Background and reasons

Acconeer’s radar sensor combines the best aspects of radar technologies through its low power consumption of pulsed radar systems and the high precision of coherent radar. This opens new opportunities for many applications with a diverse range of use cases – all in a component measuring five by five by 0.8 millimeters. Acconeer launched its first product in 2018 and has since sold more than two million radar sensors. The Company is currently in the process of expanding its product portfolio, collaborating with its strategic partner Alps Alpine to develop the next generation of pulsed coherent radar sensors, called A2.

Acconeer’s market is expected to continue growing rapidly, driven by major industry trends related to digitalization, such as 5G, artificial intelligence, and the Internet of Things. Currently, sensors based on ultrasound, infrared light, or camera technology are predominantly used. Acconeer doesn't need to create a new market but can replace existing solutions, each of which has its weaknesses.

Acconeer’s assessment is that its radar is the first radar with the size, power consumption, precision and price to enable the use of radar in e.g., consumer electronics. The applications for a radar sensor with these characteristics are numerous also in other areas such as smart cities, Internet of Things, industry, agriculture and automotive.

Intensive development of new applications is ongoing in all these areas, requiring more advanced sensors for gesture control, presence detection, level measurement and material recognition. In 2021, Acconeer signed a development agreement with Alps Alpine to develop the next generation of pulsed coherent radar sensors. This type of sensor will, among other things, be able to measure the angle of an object, enabling a wide range of use cases.

Acconeer is now prepared for the next phase of its development, consisting of a forward-leaning strategy to accelerate commercializing its first-generation product and advancing its technology for next-generation radar sensors. With this intensified development and commercialization strategy, the company aims to take significant steps towards realizing the potential of its technology in radar sensors.

To support Acconeer’s aforementioned strategy, the Company has resolved to carry out the Rights Issue and will receive a total of approximately SEK 149 million before transaction costs. The company has, through written agreements, obtained subscription and guarantee commitments equivalent to the entire Rights Issue.

Use of proceeds

The net proceeds from the Rights Issue are expected to be sufficient to fund the Company's business plan until the Company achieves positive cash flow, which is anticipated to occur during 2026. The net proceeds are intended to be used for the following purposes:

repayment of debt, including accrued interest, to Buntel AB and Exelity AB (about SEK 32 million) and the Swedish Tax Agency (about SEK 15 million)[1];
R&D, in particular the completion of A2, Acconeer’s next generation radar sensor; and
general corporate purposes, aimed at, but not limited to, accelerating sales.

The Rights Issue

The Board of Directors of the Company has today, based on the authorization granted by the Extraordinary General Meeting held on 1 March 2024, resolved to carry out a fully guaranteed rights issue of a maximum of 35,517,044 shares, with preferential rights for the Company’s existing shareholders in relation to the number of shares they own on the record date of 12 March 2024.

Existing shareholders receive one (1) subscription right for each share held on the record date. Three (3) subscription rights shall give the right to subscribe to four (4) new shares in the Company during the period 14 March 2024 until and including 28 March 2024. The subscription price corresponds to a discount of approximately 27.7 per cent compared to the theoretical price after the separation of subscription rights based on the closing price on 4 March 2024 on Nasdaq First North Growth Market. The Rights Issue will provide Acconeer up to SEK 149,171,584.80 before deductions for transaction costs through the issue of 35,517,044 shares.

The Rights Issue entails that the number of shares in Acconeer will increase by a maximum of 35,517,044, from 26,637,783 to 62,154,827 and that the share capital will increase by a maximum of approximately SEK 1,775,852 from approximately SEK 1,331,889 to approximately SEK 3,107,741.

For existing shareholders who do not participate in the Rights Issue, a dilution effect corresponding to up to approximately 57.1 per cent of the number of shares and votes in the Company arises after the Rights Issue. Shareholders who choose not to participate in the Rights Issue have the opportunity to compensate for the financial dilution effect by selling their subscription rights.

The final day of trading in Acconeer’s shares including the right to obtain subscription rights in the Rights Issue is on 8 March 2024. Subscription of shares with the support of subscription rights must be made through cash payment during the period 14 March – 28 March 2024. Subscription of shares without support of subscription rights shall take place through a special subscription list during the period 14 March – 28 March 2024. Payment for shares subscribed for without the support of subscription rights shall be paid in cash no later than two banking days after the issuance of the settlement note giving notice of allocation. The board has the right to extend the subscription period as well as the final day for payment.

The complete terms and conditions for the Rights Issue as well as information about the Company will be presented in a prospectus which, after approval by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen), will be made public and published on the Company's website on 12 March 2024.

Subscription undertakings, guarantee commitments and voting commitments

Existing shareholders Alps Alpine Co., Ltd., the Ingvarsson Family (through Sifonen AB and privately), Chairman of the Board Thomas Rex, and CEO Lars Lindell have since earlier undertaken to subscribe for shares, corresponding to their respective pro rata shares, in the Rights Issue. In addition, BGA Invest AB, the Company's largest shareholder, has on 4 March 2024 entered into a subscription undertaking of SEK 10 million. Total subscription undertakings amount to approximately SEK 30 million, equivalent to approximately 20 per cent of the Rights Issue.

In addition to the aforementioned subscription commitments, external guarantors have provided guarantee commitments subject to customary conditions which, in aggregate, amount to approximately SEK 130 million, equivalent to approximately 87 per cent of the Rights Issue.

Thus, the Rights Issue is fully covered by subscription undertakings and guarantee commitments.

For the guarantee commitments, a guarantee commission of 10 per cent of the guaranteed amount shall be paid as a cash remuneration. No remuneration shall be paid for the subscription undertakings or declarations of intention to subscribe for shares. Neither of these commitments are secured by bank guarantee, blocked funds, pledges or similar arrangements.

Further information regarding the parties who have entered subscription undertakings and guarantee commitments will be available in the prospectus published before the start of the subscription period.

Lock-up undertakings

Prior to the Rights Issue, all board members and key executives in the Company have entered into lock-up undertakings, including commitments not to dispose of financial instruments in the Company, with certain exceptions. The lock-up undertakings expire 180 days after the announcement of the outcome of the Rights Issue.

Furthermore, the Company has undertaken in relation to Carnegie Investment Bank AB, with customary exceptions, not to issue additional shares or other share-related instruments for a period of 180 days after the announcement of the outcome of the Rights Issue.

Prospectus

The prospectus and subscription form will be made available before the subscription period commence on Acconeer’s website, www.acconeer.com, as well as on Carnegie Investment Bank AB's (publ) website, www.carnegie.se.

Indicative timetable

Final day of trading in the share including the right to receive subscription rights	8 March 2024
First day of trading in the share excluding the right to receive subscription rights	11 March 2024
Publication date of the prospectus	12 March 2024
Record date for the Rights Issue	12 March 2024
Trading in subscription rights	14 March – 25 March 2024
Subscription period	14 March – 28 March 2024
Trade in paid subscribed shares (BTA)	14 March – 8 April 2024
Expected announcement of outcome in the Rights Issue	3 April 2024

Advisers

In conjunction with the Rights Issue, the Company has engaged Carnegie Investment Bank AB (publ) as Sole Global Coordinator and Bookrunner, and Advokatfirman Schjødt as legal advisor.

[1] Related to temporary payment delay (Sw. ”betalningsanstånd”).

About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Important information:
This announcement is not and does not form a part of any offer for selling, or a request to submit an offer to buy or acquire, shares or other securities of the Company.

Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Hong Kong, Japan, Canada, New Zealand, or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.

The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be exercised, offered, sold, resold, delivered or otherwise transferred, directly or indirectly, in or into the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, the requirements of the Securities Act and in compliance with any applicable securities legislation in any state or other jurisdiction of the United States. The Company do not intend to register any offering in the United States or to conduct a public offering of securities in the United States.

Forward-looking statements

Matters discussed in this announcement may constitute forward-looking statements. Forward looking statements are statements that are not historical facts and may be identified by words such as “believe”, “expect”, “anticipate”, “deems”, “intends”, “estimate”, “will”, “may”, “continue”, “should” and similar expressions. This applies in particular to statements relating to future results, financial position, cash flow, plans and expectations of the Company's operations and management, future growth and profitability, general economic and regulatory environment and other factors affecting the Company, many of which are based on further assumptions, such as no changes in existing political, legal, fiscal, market or economic conditions or applicable law (including but not limited to accounting principles, accounting methods and tax policies), which may or may not be of importance to the Company results or its ability to operate. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward looking statements.

Potential investors should therefore not attach undue confidence to the forward-looking information herein, and potential investors are urged to read the parts of the prospectus that include a more detailed description of factors that may affect the Company's operations and the market in which the Company operates.

The information, opinions and forward-looking statements contained in this announcement speak only as at its date and could be subject to change without notice.

The Board of Directors of Acconeer has resolved to carry out a fully guaranteed rights issue of up to approximately SEK 149 million

2024-03-05

Acconeer receives largest order yet from NEXTY Electronics worth 1,8 million USD

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The order relates to Acconeer's pulsed coherent radar sensor A1 for mass production and is the largest order Acconeer has received so far. The sensors ordered will be delivered to NEXTY Electronics (“NEXTY”) during 2024. A pre-payment of the full value will be made no later than April 2024. NEXTY is a leading Japanese distributor with a particularly strong position in the automotive industry.

CEO Lars Lindell comments: “To receive our by far largest order yet and pre-payment covering NEXTY’s needs for the full year 2024 confirms what we previously have stated that the automotive ramp-up starts this year, which is of course something we are very excited about.”

In addition to publicly announced orders, Acconeer continuously receives orders of smaller amounts which are not publicly announced as they are not considered to affect the share price.

In January 2024 Acconeer announced the intention to carry out a fully guaranteed rights issue and stated that the company is expected to be able to finance its business plan with existing cash until the middle of May 2024. With this payment from NEXTY, this period is extended, and the company now expects to have sufficient cash to operate until the middle of August 2024.

About Acconeer AB
With ground-breaking technology, Acconeer has developed a radar sensor that opens a new world of interaction. Acconeer Micro Radar Sensor, with low power consumption, high precision, small size and high robustness, is a 60GHz robust and cost-effective sensor for detection, distance measurement, motion detection and camera-supported applications with low power consumption. Acconeer combines the advantage of low power consumption with highly accurate pulsed radar systems of coherent radar, all integrated into a component with a surface area of only 28 mm2. The radar sensor can be included in a range of mobile consumer products, from smartphones to wearables, but also in areas such as robots, drones, the Internet of Things, healthcare, automotive, industrial robots and security and monitoring systems. Acconeer is a semiconductor company and, as a business model, sells hardware to manufacturers of consumer electronics products. Acconeer is listed on Nasdaq First North Growth Market with the ticker code ACCON, Redeye is the company's Certified Advisor (CA). For more information: www.acconeer.com.

Acconeer receives largest order yet from NEXTY Electronics worth 1,8 million USD

2024-02-16

Interim report Q2 2024

Acconeer appoints Ted Hansson as new CEO to drive sales growth

Acconeer announces 5 automotive design wins to an estimated value of more than USD 4 million

Acconeer and Sandvik receive research grant of SEK 3.5 million for material classification

Interim report Q1 2024

Acconeer announces automotive design win with an estimated value of USD 30 million, for the first time including next generation radar sensor – A2

Acconeer receives order from European IoT provider worth USD100,000

Acconeer receives order from BEYD worth USD180,000

The Board of Directors of Acconeer has resolved to carry out a fully guaranteed rights issue of up to approximately SEK 149 million

Acconeer receives largest order yet from NEXTY Electronics worth 1,8 million USD

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