InCoax Networks (INCOAX) Q3 2025 earnings summary

Executive summary

• Sales declined 68% year-over-year to 5,331 KSEK in Q3 2025, mainly due to deferred orders and a delayed Nokia rollout.

• Cost-saving programs were expanded to align expenses with lower revenue and strengthen liquidity.

• Despite challenges, strong market interest and new product launches position the company for future growth.

Financial highlights

• Net sales for Q3 2025: 5,331 KSEK (16,855 KSEK in Q3 2024).

• Operating profit (EBITA): -7,681 KSEK (-8,829 KSEK in Q3 2024).

• Gross margin improved to 62% from 55% year-over-year.

• Cash flow from operating activities: -11,670 KSEK (2,727 KSEK in Q3 2024).

• Cash and cash equivalents at period end: 14,512 KSEK (33,592 KSEK in Q3 2024).

Outlook and guidance

• Long-term strategy remains, but financial targets timeline will be revised in the 2025 year-end report.

• Partners are updating forecasts for 2026; company expects to return to growth with a more efficient cost structure.