Huddly As · OSL:HDLY
Huddly As — Q4 2025 Earnings Presentation
26 slides from Huddly As's earnings presentation, February 2026
Slide 1: Q4 2025 Results
Q4 2025 Results Presented by CEO Rósa Stensen and CFO Abhijit Banik Huddly AS, Q4 2025 Huddly AS, Q4 2025
Slide 2: Key highlights Q4 2025
Key highlights Q4 2025 Revenue: Key financials ▪ NOK 64 million in Q4 2025 and NOK 211 million in full year 2025, representing 26 % and 42 % YoY growth, respectively Gross margin: ▪ 44 % in Q4 2025 and 46 % in full year 2025. Gross profit reached NOK 97 million in 2025, reflecting a 36 % YoY increas
Slide 3: Investment case summary
Investment case summary 1 2 3 Product leadership: The world's first Go-to-market: A strong partner network Attractive market: Large and growing AI-directed multi-camera solution to drive revenue and scale 3 Huddly AS, Q4 2025
Slide 4: Vast market opportunity: ~16% yearly growth towards 2029
1. Market 2. Product 3. GTM Vast market opportunity: ~16% yearly growth towards 2029 Videoconferencing devices market – Global 2020-2029 Growth drivers Revenue in billion USD FORECAST Employees typically work from home 2–3 days per week, driving CAGR increased demand for technology that enhances hyb
Slide 5: AI-native architecture for engaging and intelligent collaboration
1. Market 2. Product 3. GTM AI-native architecture for engaging and intelligent collaboration Huddly AI-native product architecture Result and benefit Engaging collaboration meetings edited in real time to seamlessly capture all participants, verbal and non-verbal communication AI and machine learni
Slide 6: Huddly Crew: World leading AI-directed multi-camera solution
1. Market 2. Product 3. GTM Huddly Crew: World leading AI-directed multi-camera solution Imagine a live video crew producing your meetings… The solution: Huddly Crew and AI technology Most rooms today have only one camera. I believe every space will have multiple cameras to provide a rich as-if-you’
Slide 7: Value creation: Multi-camera is the new standard
1. Market 2. Product 3. GTM Multi-camera is the new standard, and Huddly Crew is the market leader Market inflection Multi-camera solutions “Demand for multi-camera room solutions continues to evolve to accepted as the new standard Huddly C1 Crew: address requirements for more engaging and equitable
Slide 8: Product roadmap: Complete modular platform for any room scenario
1. Market 2. Product 3. GTM Product roadmap: Complete modular platform for any room scenario Video: Video + Audio: Video + Audio: Video + Audio: Multi-camera solution Complete solution for small-med rooms Complete solution for small-med rooms Complete solution for all rooms 2024 2025 2026 2027 Huddl
Slide 9: Huddly C1 Crew: A complete solution for medium meeting rooms
1. Market 2. Product 3. GTM Huddly C1 Crew: A complete solution for medium meeting rooms. Available from Q1 2026 9 Huddly AS, Q4 2025
Slide 10: Huddly's global distribution is enabled by Strategic and Channel partners
1. Market 2. Product 3. GTM Huddly’s global distribution is enabled by Strategic and Channel partners Key revenue streams Strategic partners Channel partners Strategic Distribution End- Distribution Reseller End- Huddly Huddly partner Partners customer partner partner customer Lenovo, Jabra and Shur
Slide 11: Strategic partners will significantly increase future revenue
1. Market 2. Product 3. GTM Strategic partners will significantly increase future revenue Strategic partner revenue (NOK million) Future Strategic partner revenue Compounded Quarterly Growth Rate Signed Oct 24, revenue from Q4-24 MoU signed Jun 25, revenue estimate from 26 Signed Sep 2025, revenue f
Slide 12: Strong strategic fit and category leading products make Huddly a natural partner
1. Market 2. Product 3. GTM Strong strategic fit and category leading products make Huddly a natural partner One of the world’s largest PC manufacturer, Jabra has a strong position in small to medium Shure is an iconic audio brand and world leader, Complementing Barco’s ClickShare solution bundling
Slide 13: Lenovo intelligent meeting rooms with Huddly integration
1. Market 2. Product 3. GTM Lenovo intelligent meeting rooms with Huddly integration. First end-customer shipment from Q2 2026 ▪ Lenovo is ranked 196 in the Fortune Global 500 and a leading PC manufacturer, serving millions of customers in 180 markets ▪ The Lenovo ThinkSmart Core Gen 2 is one of the
Slide 14: Record-strong presence at ISE, powered by partners
1. Market 2. Product 3. GTM Record-strong presence at ISE, powered by partners showcasing Huddly solutions 14 Huddly AS, Q4 2025
Slide 15: Channel revenue growing, with clear levers to accelerate future growth
1. Market 2. Product 3. GTM Channel revenue growing, with clear levers to accelerate future growth Channel revenue development (NOK million) Drivers for future growth Compounded Annual Growth Rate Strengthen distributor and reseller engagement to accelerate Huddly sales, through tiered volume incent
Slide 16: Business case: Promising growth prospects
1. Market 2. Product 3. GTM Business case: Promising growth prospects Investment case: Key growth drivers Growth ambitions (NOK million) 1 Large and growing market with strong Attractive market fundamentals driving 16% future yearly ~45-50% ~45% ~45-50% growth ~750-850 2 ~625-725 Positioned as the m
Slide 17: Gross margin and RAM cost inflation risk
Gross margin and RAM cost inflation risk Market wide RAM price increases – Sample from news media Implications for Huddly ▪ DRAM (Dynamic Random Access Memory) is used in AI-enabled audiovisual products, c d H dd y’ , p d th y c p c ty q dt H dd y’ AI ftw ▪ Since Q4 2025, DRAM prices have increased
Slide 18: New equity financing and use of proceeds
New equity financing and use of proceeds ▪ Private placement of NOK 55-75 million to accelerate growth and bridge the company to positive cash flow estimated in the second half of 2026 Uses ▪ Strengthen the balance sheet and working capital to solidify H dd y’ position with Bridge funding until cash
Slide 19: Financials
Financials Huddly AS, Q4 2025 Huddly AS, Q4 2025
Slide 20: Strong Strategic partner revenue growth
Strong Strategic partner revenue growth Revenue development and split NOK million, % of total revenue St t cp t Ch ▪ Sales to Strategic partners in Q4 2025 increased by 61 % compared to Q3 2025, marking the strongest performance since Q1 2023. Growth in 2025 was 190 % vs. 2024 5 ▪ Sales to Channel i
Slide 21: Q4 2025 gross margin at 44 %. Full year 2025 at 46 %, in line with target
Q4 2025 gross margin at 44 %. Full year 2025 at 46 %, in line with target Gross margin (%) development ▪ Gross margin for Q4 2025 stood at 44 %, which is comparable to the prior quarter. Excluding one-off items, gross margin in Q4 2025 was 47 % 45-50 % in target 2025 ▪ Full year 2025 gross margin wa
Slide 22: Summarized P&L: Improved operational efficiency
Summarized P&L: Improved operational efficiency Condensed profit & loss statement NOK million ▪ Revenue increase driven by strong growth from C ange C ange .2 50.9 2 2 .3 . 2 Strategic partners p ft 2 . 30.0 5 97. 7 . 3 ▪ 2025 revenue grew by 42 %, accompanied by a Gross margin 36 % rise in gross pr
Slide 23: R&D investments to drive long-term growth
R&D investments to drive long-term growth Capitalized R&D cost NOK million ▪ Capitalized R&D expenses of NOK 20.1 million in Q4 2025, largely consistent with previous capitalization levels ▪ 57 engineers, including approximately 45 with extensive expertise in AI, machine learning, and software devel
Slide 24: Q4 2025 cash flow
Q4 2025 cash flow Cash flow NOK million Q1 2025: NOK -21 million Q2 2025: NOK -18 million Q3 2025: NOK +1 million ▪ Operational cash flow was NOK +4 million in Q4 3. 2025, compared to NOK +1 million in the 7.7 previous quarter. Improvement is mainly .2 0.2 explained by adjustments in working capital
Slide 25: Q&A
Q&A CEO, Rósa Stensen CFO, Abhijit Banik Chair of the Board, Jon Øyvind Eriksen Huddly AS, Q4 2025 Huddly AS, Q4 2025
Slide 26: Huddly AS, Q4 2025
Huddly AS, Q4 2025