Acconeer: Progress Towards Legislation in the USA

Research Note

2023-03-13

12:46

Redeye states that last week's additional proposal for the 60GHz band is a necessary step towards removing the hurdles that currently hinder sales in the USA. Acconeer expects the legislation to be in place this summer. Redeye reiterates its valuation range.

JVK

Jesper Von Koch

As we wrote in our last update, the US market is currently held back for Acconeer due to the lack of necessary legislation for this geography. In an attempt to reach the necessary legislation, Acconeer has, together with Intel, Meta, and Qualcomm, previously made a joint proposal for the 60GHz frequency band (the applicable area for Acconeer’s sensors).

Last week, a group of companies making frequency-modulated radar systems (FMCW) agreed with Acconeer, Intel, Meta, and Qualcomm on a complementing proposal for FMCW radar. This proposal will co-exist with the previous proposal.

Acconeer has stated that it expects legislation in the USA to be in place during the summer of 2023. We expect this to be an important revenue driver for Acconeer.

Redeye reiterates its valuation range.

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