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Interim report Q2 2023

In the second quarter 2023, Acconeer's net sales amounted to kSEK 6,399. Close to 15,000 modules and 67,000 sensors were sold. In total, Acconeer has sold 1,656,662 radar sensors and 149,678 modules since launch. In the quarter as much as 425 evaluation kits were sold, and an accumulated 6,669 EVKs have been sold since launch. The gross margin in Q2 was 61% and eight new customer products were launched.
CEO Lars Lindell comments: “We are of course disappointed by the weak sales, but seeing strong sales of EVKs and high customer activity we are convinced that the weak sales are due to the general temporary industry downturn. Besides this, the most important event during Q2 was the new regulations for the US market, which will open up for new and existing customers to expand their business in North America.”

SECOND QUARTER

  • Net sales for the second quarter amounted to kSEK 6,399 (10,779).
  • The gross margin on sales of goods was 61 (62)%.
  • Result after taxes amounted to kSEK -13,498 (-12,197).
  • Earnings per share before and after dilution was SEK -0.51 (-0.47) SEK.
  • The cash flow from operating activities was kSEK -10,803 (-10,028).

FIRST SIX MONTHS

  • Net sales for the first six months amounted to kSEK 16,530 (20,900).
  • The gross margin on sales of goods was 60 (62)%.
  • Result after taxes amounted to kSEK -25,625 (-26,078).
  • Earnings per share before and after dilution was SEK -0.97 (-1.01).
  • The cash flow from operating activities was kSEK -20,535 (-21,153).
  • Cash and cash equivalents on the balance sheet date amounted to kSEK 30,541 (117,941).

SIGNIFICANT EVENTS DURING THE SECOND QUARTER

  • Acconeer signed distribution agreement with Korean TecAhead.
  • Acconeer received automotive design win with a forecasted value of USD 800k.
  • Acconeer received order from Micro Summit K.K. worth USD 138k.
  • Acconeer received order from SweIoT worth USD 104k.
  • Acconeer signed a loan facility agreement of up to SEK 60 million.
  • Acconeer received order from BEYD worth USD 160k.
  • Distribution agreement was signed with Data JCE Electronic.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

  • Acconeer partners with Convergence Promotions to expand sales network in North America.

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

For additional information, please contact:
Lars Lindell, CEO Acconeer, Phone: +46 10218 92 00, E-mail: ir@acconeer.com
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.
This information is information that Acconeer is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-07-21 07:30 CEST.
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Acconeer Q2 2023 ENG