# CyanConnode Turnover £6.8m, doubles compared to last year

- Link: https://www.directorstalkinterviews.com/cyanconnode-turnover-6.8m-doubles-compared-to-last-year/4121042805
- Published: 2022-01-12T07:23:47+00:00
- Author: Giles

**[CyanConnode Holdings](https://www.directorstalkinterviews.com/company/cyanconnode-holdings-plc/cyan.l)
plc** ([LON:CYAN](https://www.directorstalkinterviews.com/company/cyanconnode-holdings-plc/cyan.l)),
a world leader in Narrowband Radio Frequency (RF) Smart Mesh Networks, has provided
a trading update for the nine-month period ended 31 December 2021.

**Highlights for the period**

·    Turnover of £6.8m (2020: £3.4m)

·    Cash at 31 December 2021 of £1.1m (2020: £1.0m)

·    Approximately £5.9m cash received from customers (2020: £2.9m)

·    455k modules delivered to customers (nine-months to 31 December 2020: 259k)

·    3.1k gateways delivered to customers (nine-months to 31 December 2020: 0.2k)

> **John Cronin, CyanConnode’s Executive Chairman, commented**:
> “We have continued to make solid progress during the financial year with successful
> deployments which have led to record turnover and cash collection. I am also pleased
> to confirm that the Company expects to meet market forecasts for the current financial
> year.”

CyanConnode 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, the company 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, the company has several
routes to market, therefore it is well positioned to capitalise upon increasing 
Global demand for smart metering solutions.

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