Slide 1: Q1 2025 Results
Q1 2025 Results 15th May 2025 Presented by CEO Rósa Stensen and CFO Abhijit Banik
Slide 2: Key highlights Q1 2025
Key highlights Q1 2025 Q1 2025 results ▪ Revenue of NOK 45 million vs. NOK 33 million in Q1 2024, driven by sustained Revenue and gross margin NOK million growth in Channel sales which increased 55 % compared to Q1 2024 ▪ Strategic partner revenue picking up: Expected to increase substantially throu
Slide 3: The roll-out of Huddly cameras to Microsoft began in Q1 and will continue in Q2
The roll-out of Huddly cameras to Microsoft began in Q1 and will continue in Q2 ▪ Microsoft has chosen Huddly Crew to enhance collaboration in large meeting spaces at its Redmond Headquarter ▪ With Edge AI and scalable technology, it ensures inclusivity for all participants and supports Microsoft's
Slide 4: The Shure kits were launched in Q1, while shipping to end customers started in May
The Shure kits were launched in Q1, while shipping to end customers started in May Combining the legendary 100-year-old Shure brand and audio expertise with Huddly’s AI-powered video solution ✓Cameras with Edge AI: ✓IntelliMix software: Crystal-clear speech ✓Easy to set up: Automatically detect and
Slide 5: User story: Sykehuspartner and government sector opportunities
User story: Sykehuspartner and government sector opportunities ▪ Sykehuspartner is a Norwegian healthcare organization providing IT, supply chain, and administrative services to hospitals across Norway ▪ They are responsible for equipping and maintaining approximately 5,000 meeting rooms within hosp
Slide 6: Product roadmap: A complete video and audio solution
Product roadmap: A complete video and audio solution Video: Video + Audio: Video + Audio: Multi-camera solution Complete solution for small-medium rooms Complete solution for all rooms 2024 2025 2026-27 Huddly Crew Huddly C1 videobar Huddly satellite device (modularity) Huddly AI Director with user
Slide 7: Huddly C1
Huddly C1 The new AI-driven videobar 20x more AI processing power Modular design: Standalone or multi-camera Breathtaking audio: Total clarity Huddly AS, Q1 2025
Slide 8: Launching the new Huddly C1 AI-driven videobar in cooperation with Lenovo and Microsoft
Launching the new Huddly C1 AI-driven videobar in cooperation with Lenovo and Microsoft Go-to-market and product launch Q1 2025 Q2 2025 H2 2025 EMEA roadshow in Oslo, London, Paris, USA roadshow. More details to come Warsaw and Milan First showcased at the ISE trade fair, featuring live demos for ~2
Slide 9: Outlook and key priorities: Delivering according to business plan
Outlook and key priorities: Delivering according to business plan Strategic focus Priorities and plan Growth ambitions (MNOK) 1 h l u St t cp t u ss t t l Grow channel Leveraging Strong alignment ~ 50% 48% Grow Strategic partner revenue by focusing existing and future with Microsoft for ~ 650-700 sa
Slide 10: However, heightened market uncertainty from tariffs and volatile trade conditions
However, heightened market uncertainty from tariffs and volatile trade conditions Huddly - Simplified supply chain illustration Flow of finished goods to customers Flow of components Fulfillment APAC center Contract manufacturer (CM) Americas: ~56 % of 2024 Mainly China revenue APAC EMEA/APAC: ~44 %
Slide 11: Initial assessment of impact from market uncertainty
Initial assessment of impact from market uncertainty Impact on Huddly Impact on market and customers ▪ H h t ffs th US h c s d c sts f Huddly’s d st but p t s, ▪ Overall market uncertainty is significantly affecting customer investment who handle shipping and duty payments. Huddly has responded by r
Slide 12: Strategic review
Strategic review ▪ The Company initiated a strategic review following interest from a global industrial pl y , d t lu t th p y’s l -term direction and partnerships. As communicated in February 2025, the company expected to conclude the process in Q2 2025 ▪ The introduction of tariffs in the USA from
Slide 13: Financials
Financials
Slide 14: Channel sales with strong YoY growth, while revenue to Strategic partners is picking up
Channel sales with strong YoY growth, while revenue to Strategic partners is picking up Revenue development and split Revenue of NOK 45 million resulting in 37 % increase compared NOK million, % of total revenue to Q1 2024 ▪ Sales to Channels in Q1 2025 increased by 55 % compared to Q1 2024 o Channe
Slide 15: Continued strong gross margin performance
Continued strong gross margin performance Gross margin (%) development ▪ Maintained a solid gross margin of 53 % in Q1 0 , fl ct th k t pp l f Huddly’s AI powered product portfolio Underlying > ▪ Favorable product and customer mix gross margin of 52 %, excluding scrapping of components ▪ No signific
Slide 16: Summarized profit and loss: Cost savings implemented
Summarized profit and loss: Cost savings implemented Condensed profit & loss statement NOK million ▪ YoY revenue increase due to strong Channel Q1 2025 Q1 2024 Change 2024 Revenue 45.3 33.0 37 % 148.8 sales performance Gross profit 23.8 15.9 50 % 71.6 ▪ Increase in OPEX is mainly explained by the Gr
Slide 17: 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 cost of NOK 20 million in Q1 2025. 7 % increase compared to Q1 2024, and in line with capitalization in previous quarters ▪ 61 engineers, including approximately 45 with extensive expertise in AI, machine le
Slide 18: Q1 2025 cash flow
Q1 2025 cash flow Cash flow NOK million 0 ▪ Operational cash flow improved to NOK -21 0 million, a notable enhancement compared to 0 the NOK -25 to -33 million range recorded in each of the previous three quarters > ▪ Oversubscribed subsequent repair offering, raising gross proceeds of NOK 25 millio
Slide 19: Summary: Delivering according to business plan
Summary: Delivering according to business plan Strategic focus 1 2 3 Grow Strategic partner and Maintain healthy gross margin by Disciplined investments Channel revenue monetizing on AI enabled products and cost control Huddly AS, Q1 2025
Slide 20: Q&A
Q&A CEO, Rósa Stensen CFO, Abhijit Banik Chair of the Board, Jon Øyvind Eriksen
Slide 21: Slide 21