CyanConnode Holdings (GB:CYAN) has released an update.
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CyanConnode Holdings PLC, a leader in RF Smart Mesh Networks, reported a 60% increase in annual revenue to £18.7m in FY24, marking the highest income in four years due to expanded order books and accelerated deployments in India. Despite this growth, the company saw a decrease in gross margin to 30% and an increase in operating loss to £4.2m due to higher operational costs. Key operational achievements included the delivery of 2.8 million Omnimesh modules and the empanelment of its subsidiary DigiSmart as an Advanced Metering Infrastructure Service Provider, positioning the company for further growth in FY25.
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