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31.3% increase Y/Y. Adjusted EBITDA rose to USD 1.5 million from USD 0.9 million
in Q4 2020, implying an adjusted EBITDA margin of 11.7%. Operating profit (EBIT)
was USD 1.2 million in the quarter, resulting in an Operating margin of 10.0%.
Cash flow from operating activities was USD 2.1 million, compared to USD 1.4
million in Q4 2020.
“Smartoptics closed the year with a strong financial performance in the fourth
quarter, driven by continued high demand. Consequently, our financial results
are in the upper range of our guidance. We’ve continued to win business with our
existing product offering as well as our newer products designed for a multitude
of applications, including 5G mobile backhaul. Orders booked in 2021 reached USD
52.5, corresponding to an increase of 39% compared to 2020, and we’ve received
major orders from large accounts in the communication service provider and
internet content provider market,” said Magnus Grenfeldt, Chief Executive
Officer of Smartoptics. “Our solutions, software and services business area grew
by 46% compared to previous year, and now represent 65% of our revenue. We’re
also seeing an increasing rate of endorsement of our open and disaggregated
approach from customers, partners, and competitors. Smartoptics has clearly
defined our market segment, and our leading position is recognized worldwide.”
Smartoptics’ customer base includes thousands of enterprises, governments, cloud
providers, Internet exchanges as well as cable and telecom operators in the
Nordics, U.S., Europe, and APAC. The products are based on in-house developed
hardware and software for optical data networks, enhanced through associated
services.
“We’re seeing growth in all regions, with EMEA showing the highest revenue
growth. Supply constraints primarily impacted the Americas region, which had
about USD 5.0 million of revenue postponed into 2022. These are orders booked in
Q3 2021, that under normal circumstances would have been delivered to customers
in Q4. We are expecting the orders to be shipped during the first half of 2022,”
said Grenfeldt.
Smartoptics’ average annual revenue growth in the period 2017-2021 was 28%. The
coming years, I expect a similar revenue development.
“We expect the strong market trends for fiber optic equipment to continue long
-term, driven by an ever-growing demand for bandwidth globally. Our position in
the market is continuously improving and our target to grow to USD 100 million
in revenue by 2025/2026, combined with increased profitability and EBITDA margin
of 15-18% remains firm,” said Grenfeldt.
Please find enclosed Smartoptics’ Q4 interim report and the presentation
material related to the report.
QUARTERLY PRESENTATION:
Smartoptics will host a presentation of the results by CEO Magnus Grenfeldt and
CFO Mikael Haag today, 11 February at 08:00 CET at Hotel Continental,
Stortingsgaten 24/26, Oslo. The presentation will be held in English and will
also be webcast.
Webcast link: https://channel.royalcast.com/landingpage/hegnarmedia/20220211_1/
The report and presentation will be made available at www.smartoptics.com and
www.newsweb.no. A recorded version of the presentation will be available after
the live stream is concluded.
For further information, please contact:
Magnus Grenfeldt
CEO Smartoptics
+46 73-366 88 77
E-mail: magnus.grenfeldt@smartoptics.com
Mikael Haag
CFO Smartoptics
Phone: +46 704 264 872
E-mail: mikael.haag@smartoptics.com
About Smartoptics
Smartoptics provides innovative optical networking solutions and devices for the
new era of open networking. Our customer base includes thousands of enterprises,
governments, cloud providers, Internet exchanges as well as cable and telecom
operators. We have an open networking approach in everything we do which allows
our customers to break unwanted vendor lock-in, remain flexible and minimize
costs. Our solutions are used in metro and regional network applications that
increasingly rely on data center services and specifications. Smartoptics is a
Scandinavian company?founded in 2006. We partner with leading technology and
network solution providers such as Brocade, Cisco and Dell EMC and have a global
reach through more than 100 business partners.
For additional information about Smartoptics, please visit
https://www.smartoptics.com
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