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Pin to quick picksCyanconnode Regulatory News (CYAN)

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Trading Update

7 Apr 2021 07:00

RNS Number : 5915U
CyanConnode Holdings PLC
07 April 2021
 

 

7 April 2021

CyanConnode Holdings plc

("CyanConnode" or the "Company")

 

Trading Update for the financial year ended 31 March 2021

 

CyanConnode Holdings plc (AIM: CYAN), a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, is pleased to provide a trading update for the financial year ended 31 March 2021.

 

Highlights

 

· Revenue for the 12-month period to March 2021 was approximately 2.5 times the 15-months to March 2020 of £2.5m, therefore exceeding market expectation

· Period end cash and cash equivalents of c. £1.5m (March 2020: £1.2m)

· Approximately £5.3m cash received from customers during the 12-month period (15-months to March 2020: £4.1 million)

· 481k modules shipped to customers during the 12-month period ended March 2021 (15-months to March 2020: c. 115k)

 

Follow the link below to view graph showing cumulative modules shipped to date:

 

http://www.rns-pdf.londonstockexchange.com/rns/5915U_1-2021-4-6.pdf

 

John Cronin, CyanConnode Executive Chairman, commented:

"I'm delighted with the progress made during the financial year ended 31 March 2021, which has delivered our highest annual revenue to date, approximately 2.5 times the previous financial period. With deployments being secured against Letters of Credit or advance payments, cash collection has significantly improved, and together with ongoing cost control, our cash position at 31 March 2021 is higher than at 31 March 2020.

 

"This has been an extremely challenging year due to the Covid-19 pandemic, nevertheless we have continued to pursue a number of opportunities which we expect to bear fruit in due course. We also expect revenues to materially increase during the current financial year and note market expectations of £8.8m of revenue for the financial year ended 31 March 2022."

 

"I would also like to thank our shareholders, customers, and partners for their ongoing support as well as our employees for their hard work in helping to deliver this achievement."

 

- Ends -

 

Enquiries:

 

CyanConnode Holdings plc Tel: +44 (0) 1223 225 060

John Cronin, Executive Chairman www.cyanconnode.com

Arden Partners plc (Broker and Nomad) Tel: +44 (0) 20 7614 5900

Paul Shackleton / Dan Gee-Summons (Corporate Finance)

Simon Johnson (Corporate Broking)

 

About CyanConnode

CyanConnode (AIM:CYAN.L), is a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, which are used for machine to machine (M2M) communication. As well as being self-forming and self-healing, CyanConnode's RF Smart Mesh Networks are designed for rapid deployment, whilst giving exceptional performance and competitive total cost of ownership.

 

In June 2018, CyanConnode launched its award-winning Omnimesh Advanced Metering Infrastructure (AMI) platform, which has already gained considerable commercial traction, especially in India which is a key market for the Company.

 

Through a Global partner eco-system, which is vendor agnostic, CyanConnode has several routes to market, therefore it is well positioned to capitalise upon increasing Global demand for smart metering solutions.

 

For more information, please visit www.cyanconnode.com

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TSTKQLFBFZLXBBZ
Date   Source Headline
15th Jan 20247:00 amRNSAppointment of Non-Executive Director
11th Jan 20247:00 amRNSOrder For One Million Omnimesh Modules
27th Dec 20234:18 pmRNSDirector Dealing
19th Dec 20237:00 amRNSInterim Results
6th Dec 20231:32 pmRNSChange of Registered Office
1st Dec 20234:18 pmRNSHolding(s) in Company
21st Nov 20232:31 pmRNSHolding(s) in Company
20th Nov 20236:14 pmRNSIssue of Share Options – Correction
20th Nov 20237:00 amRNSNamed as One of the Fastest Growing Companies
17th Nov 20233:45 pmRNSDirector Option Grants
17th Nov 20238:30 amRNSHolding(s) in Company
16th Nov 202312:48 pmRNSHolding(s) in Company
15th Nov 20237:00 amRNSRanked 2nd Fastest-Growing UK Company in India
13th Nov 20236:11 pmRNSPlacing and Subscription – update
9th Nov 20238:02 amRNSResult of Oversubscribed Placing and Subscription
8th Nov 20235:24 pmRNSProposed Placing and Subscription to Raise c.£2.5m
31st Oct 20237:15 amRNSContract in the Middle East and North Africa
10th Oct 20237:00 amRNSOrder for 300,000 Omnimesh Modules
5th Oct 20237:00 amRNSTrading Update
24th Aug 202312:18 pmRNSResult of AGM
17th Aug 20231:00 pmRNSHolding(s) in Company
15th Aug 20237:00 amRNS2023 Annual General Meeting
4th Aug 20235:34 pmRNSDirector Dealing
2nd Aug 20237:00 amRNSOrder for 300,000 Omnimesh Modules
26th Jul 20235:34 pmRNSCorrection: Final Results
26th Jul 20237:00 amRNSFinal Results
25th Jul 20237:00 amRNSNotice of Results & Investor Presentation
6th Jul 20237:00 amRNSTrading Update
22nd Jun 20237:00 amRNSCyanConnode India is a Start-Up 50 Trailblazer
25th May 20238:10 amRNSOrder for 600,000 Omnimesh Modules
9th May 20233:45 pmRNSHolding(s) in Company
17th Apr 20237:00 amRNSInterview with MD & CEO for CyanConnode India
3rd Apr 20237:00 amRNSCyanConnode and Alfanar Sign MOU for AMI projects
21st Mar 20237:15 amRNSHardman Research - Acceleration and revenue uplift
13th Mar 20237:00 amRNSCyanConnode Banking Arrangements
7th Mar 20237:00 amRNSCollaboration with Silicon Laboratories
6th Mar 20237:00 amRNSAppointment of Nominated and Financial Adviser
6th Feb 20238:51 amRNSStrategic Framework Agreement - Replacement
6th Feb 20238:21 amRNSStrategic Framework Agreement
6th Feb 20237:00 amRNSStrategic Framework Agreement
31st Jan 20237:00 amRNSHolding(s) in Company
24th Jan 20238:00 amRNSResult of Oversubscribed Placing and Subscription
23rd Jan 20235:11 pmRNSProposed Placing and Subscription
19th Jan 20237:00 amRNSChange of Adviser
4th Jan 20237:00 amRNSOrder From New Partner
14th Dec 20227:00 amRNSInterim results
8th Dec 20227:00 amRNSInvestor Presentation
1st Dec 20227:00 amRNSTrading Update and Notice of Results
9th Nov 20227:00 amRNSHardman & Co - Indian smart meter programme update
27th Oct 20227:00 amRNSConference of Indian Power Ministers

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