Slide 1: Interim Management Statement Q2/H1 2026
Interim Management Statement Q2/H1 2026 Kartik Srinivasan, CEO Klaus H. Skovrup, CFO August 25, 2026 Q2 2026 INVESTOR PRESENTATION © NAPATECH 2026
Slide 2: Q&A Session
Q&A Session Following the presentation DK: +45 32 74 07 10 NO: +47 57 98 94 30 US: +1 646 307 1963 UK: +44 20 3481 4247 Participant Access Code: 4258574 To ask a question, press *1 on your telephone keypad. To withdraw your question, press *2 Texted questions can be submitted using the button on the
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation has been prepared by Napatech A/S solely for information purposes. The presentation does not constitute an invitation or offer to acquire, purchase or subscribe for securities. Certain statements included in this presentation contain various forward-looking st
Slide 4: Our Momentum
Proven Core Infrastructure Strong, profitable foundation with continued design-win momentum AI Infrastructure Moving to Scale From design win to production and higher-volume deployment Our Expanding Customer and Partner Ecosystem Momentum Broader routes to market across Core and AI Infrastructure Co
Slide 5: Q2/H1 2026 - Strong Financial Performance
Q2/H1 2026 - Strong Financial Performance Quarterly Revenue Trend ($M) Q2 results • Revenue: $7.4M (+55% YoY) • Driven by Core Infrastructure demand 8 7.9 0.3 1.0 7.4 • Test orders in AI Infrastructure 7 0.3 0.9 6.3 0.8 • Gross margin: 67% 6 0.2 5.7 0.0 0.7 • Reflecting product mix and execution 5 4
Slide 6: H1 2026 – Performance by Market Segment
H1 2026 – Performance by Market Segment Core Infrastructure – Profitable Foundation AI Infrastructure – Next Growth Engine • Revenue grew 65% year-over-year to $12.8M • Engineering engagements are progressing toward commercial production • ~70% gross margin demonstrates strong business quality • Str
Slide 7: H1 2026 – Performance by Geography
H1 2026 – Performance by Geography Americas – Investing for Future Growth Rest of World – Driving Profitable Growth • Revenue grew 27% year-over-year to $7.3M • Revenue grew 141% year-over-year to $5.9M • Strategic investments in AI Infrastructure position the region • Strong execution across OEM, t
Slide 8: The Bottleneck in Heterogeneous AI Inference is Data Movement
The Bottleneck in Heterogeneous AI Inference is Data Movement The market shift AI inference increasingly spans CPUs, GPUs and specialized accelerators, expanding the infrastructure layer we serve. Where the bottleneck moves Latency, utilization and cost per token now hinge on moving data efficiently
Slide 9: Strong revenue and improving operating performance
Strong revenue and improving operating performance Continued momentum on revenue while costs are under control Revenue $M & GM% Q2 H1 Q2 YTD 55% DKK million 2026 2025 2026 2025 ∆ ∆ 8 66.9% 70.5% 69.9% 69.8% 67.3% 80 Revenue 48.1 31.6 84.7 55.4 52% 53% 6 60 4 7.9 7.4 40 6.3 5.7 2 4.8 20 Gross profit
Slide 10: Negative cash flow in Q2 mainly due to Working Capital
Negative cash flow in Q2 mainly due to Working Capital Backloaded invoicing in Q2 2026 and ramp-up of inventories are driving increased working capital Cash & Cash equivalents, MDKK Q2 H1 DKK million 2026 2025 2026 2025 Cash beginning of Q 99.1 Net cash adjusted EBT -4.4 Earnings before tax (EBT) -9
Slide 11: Financial outlook for 2026
Financial outlook for 2026 Previous Comments Guidance guidance • Revenue of $32-38M is unchanged Revenue DKK 200 – 240M DKK 200 – 240M • First commercial AI infrastructure orders are planned for delivery in H2 Units sold 7,700-9,700 8,700-10,700 • We are decreasing our expected units sold following
Slide 12: Where to Find Us
Where to Find Us 19-21 Aug 2026 15-17 Sep 2026 Virtual Santa Clara, USA AI Infrastructure AI Infrastructure 6-8 Oct 2026 21 Oct 2026 Dubai, UAE New York, USA Core Infrastructure Core Infrastructure Core Infrastructure https://www.napatech.com/about/events/ 12 Q2 2026 INVESTOR PRESENTATION © NAPATECH
Slide 13: Q&A Session
Q&A Session Following the presentation DK: +45 32 74 07 10 NO: +47 57 98 94 30 US: +1 646 307 1963 UK: +44 20 3481 4247 Participant Access Code: 4258574 To ask a question, press *1 on your telephone keypad. To withdraw your question, press *2 Texted questions can be submitted using the button on the
Slide 14: Stay Connected with Napatech
Stay Connected with Napatech On the web Social Media Other news www.google.com/alerts www.euronext.com www.napatech.com www.napatech.com/newsletter 14 Q2 2026 INVESTOR PRESENTATION © NAPATECH 2026 14