LightwaveRF losses widen as revenue slips, costs swell

Writer, Stock Market Wire
Tuesday, December 11, 2018 - 08:49

Smart home solutions provider LightwaveRF said annual losses widened from a year earlier as revenue declined and costs swelled amid a ramp up in spending.

For the year ended 30 September, losses before tax widened to £2.54m from £0.85m a year ago, and revenue declined to £2.81m from £3.03m, which the company blamed on a weak first-half performance.

The revenue run rate for the first two months of the 2019 financial year was up a further 25% on a strong last quarter of the 2018 financial year, the company said.

'I have been greatly encouraged by the sales performance since I joined Lightwave in July 2018, with the monthly revenue run rate up significantly on where it was previously. This jump in sales has gone hand-in-hand with the improvements made to our marketing, customer engagement and distribution channels, said Jason Elliot, Chief Executive of LightwaveRF.

'With the business strengthened and our retail partner network expanded, I am excited by the very real opportunity for Lightwave to achieve significant UK and international scale, and the prospect of becoming a leading smart home brand in 2019.'

At 8:49am: (LON:LWRF) LightwaveRF Plc share price was -0.25p at 6.5p


Related content

LightwaveRF plans to raise approximately £1.3m through the placing of shares

LightwaveRF announced plans to raise approximately £1.3m through the placing of shares.

The company issued 15,806,811 new shares to new and existing investors at...

Fri, 16/08/2019 - 08:37


LightwaveRF third quarter revenue rises 67%

Smart home solutions provider LightwaveRF said its revenue rose 67% in the third quarter of its financial year, putting it on track to more than...

Mon, 15/07/2019 - 14:09


LightwaveRF losses widen as investment costs offer surge in revenue

LightwaveRF reported wider first-half losses as a ramp up in investments increased costs and offset a surge in revenues .

For the six months ended...

Mon, 03/06/2019 - 08:42


LightwaveRF looks to build on ad campaign success with further roll out

LightwaveRF, a smart home solutions provider, said Monday its first digital advertising campaign had delivered a 'significant' increase in Lightwave brand awareness, interest in the...

Mon, 11/02/2019 - 07:36


LightwaveRF's sales, marketing improvements support sharp rise in Q1 sales

Smart home solutions provider LightwaveRF said fiscal first quarter sales more than doubled supported by improvements to its sales and marketing strategies.

Revenue increased...

Fri, 04/01/2019 - 07:24