CyanConnode widens H1 loss in pivotal period

CyanConnode has widened its half-year pretax loss to £2.86m, from a loss of £2.29m, in a period that it described as pivotal for the group. Revenue improved to £1.03m, from $157,328.

"This was a pivotal period for the Group as we significantly enhanced our capabilities and offering," said executive chairman John Cronin.

"Clearly the major developments were the purchase order in Iran, the game-changing acquisition of Connode as well as the increase in revenues," he added in a statement.

Cronin added that the company was excited by the potential to build on relationships in place, whilst breaking into new markets on the back of its wider product offering.

CyanConnode specialises in narrow-band RF mesh networks for Omni Internet of Things communications.