Nordic Semiconductor Asa · OSL:NOD

Nordic Semiconductor Asa — Nordic Semiconductor Ord — Q4 2025 Earnings Presentation

23 slides from Nordic Semiconductor Asa's earnings presentation, Feb 5, 2026

Slide 2: Disclaimer
Disclaimer The following presentation is being made only to, and is only directed at, persons to whom such presentation may lawfully be communicated (“relevant persons”). Any person who is not a relevant person should not act or rely on this presentation or any of its contents. This presentation doe
Slide 4: Revenue growth and margin improvement
Revenue growth and margin improvement Quarterly revenue development (USDm) Q4 2025 ▪ Revenue of USD 170 million ▪ Gross margin of 55% and 52% adjusted for reversal of inventory write-down ▪ Reported EBITDA USD 15 million (8.9%) and adjusted EBITDA USD 13 million (7.5%) Copyright © 2026 Nordic Semico
Slide 5: Revenue growth for both top-10 and broad market
Revenue growth for both top-10 and broad market ▪ Top-10 revenue reflecting strong relationships and close collaboration with key customers ▪ Broad market continuing regaining traction Copyright © 2026 Nordic Semiconductor. All rights rese rved 5
Slide 6: Clear design win leader – increasing nRF54 traction
Clear design win leader – increasing nRF54 traction 32% share of certifications last 12 months, 3-4x of closest competitors Bluetooth Low Energy end-product certifications, last 12 months Nordic end-product certifications Q4’25 103 designs 32% share LTM 460 designs 32% share Competitors Source: Nord
Slide 7: nRF54LV10A
nRF54LV10A For next-generation healthcare wearables Targeting large and growing markets including biosensors and continuous glucose monitors (CGMs) ▪ Ultra-compact design ▪ Single silver-oxide coin cell ▪ Advanced security features ▪ 30–50% lower power consumption vs. previous generation World’s fir
Slide 8: Ultra-low-power edge AI solution
Ultra-low-power edge AI solution AI for the smallest battery-powered IoT devices ▪ nRF54LM20B: New ultra-low-power, large-memory wireless SoC with integrated Axon NPU ▪ Axon NPU: AI accelerator with up to 7x faster performance and 8x better energy efficiency than the competition ▪ Neuton models: Ult
Slide 9: Accelerating space-enabled IoT connectivity
Accelerating space-enabled IoT connectivity ▪ nRF9151 module certified for Skylo’s GEO satellite network ▪ Enabled connectivity across several leading satellite operators, including Iridium, Myriota, Sateliot, Skylo and OQ Technology ▪ Seamless cellular and satellite coverage enables true global IoT
Slide 13: Gross margin
Gross margin ▪ Reversal of write-down of Long-range components of USD 5 million ▪ Improvement reflects customer and product mix, improvement in broad market and positive contribution from Cloud services ▪ Expecting gross margin above 50% also in Q1 2026 ▪ Reiterating long-term ambition to maintain g
Slide 15: Cash cost development
Cash cost development Cash OPEX (USDm) ▪ Number of employees increased to 1,431 at the end of Q4 2025, including 59 employees joining from Neuton and Memfault ▪ Software, hardware and sales activities increase other opex in Q4 2025 ▪ Negatively impacted by FX ~ USD 3.7 million Copyright © 2026 Nordi
Slide 16: Capex intensity
Capex intensity ▪ Capital expenditures mainly reflect supply chain Capex (USDm) capacity expansion and lab equipment ▪ Capex intensity last 12 months at 3.4 % of revenue * *Q3 2025 cape x values excludes assets acquired from Memfault and Neuton Copyright © 2026 Nordic Semiconductor. All rights rese
Slide 17: Cash flow
Cash flow ▪ Continued positive cash generation from Cash position and cash flow Q4 2025 (USDm) operations, with EBITDA of USD 9.1m including capitalized development costs ▪ Net working capital increased mainly because of higher inventories Copyright © 2026 Nordic Semiconductor. All rights rese rved
Slide 18: Q1 2026 guidance
Q1 2026 guidance Revenue Gross margin ▪ Customer orders and forecasts USDm indicate continued year-on-year revenue growth in Q1 175-195m >50% ▪ Gross margin expected above 50% +13% to +26% +3% to +15% y-o-y q-o-q Copyright © 2026 Nordic Semiconductor. All rights rese rved 18
Slide 20: Progressing the product portfolio renewal
Progressing the product portfolio renewal Expanding nRF54 Series Short-range Announced 7 different nRF54 products since the first portfolio launch in late 2024 → continuing roll-outs in 2026 High-end Broadened the market with nRF9151 and Long-range satellite support → soon launching nRF92 on 22nm Mi
Slide 21: Complete solutions provider from chip to cloud
Complete solutions provider from chip to cloud Leadership across hardware, software, and services – accelerated by strategic acquisitions Customer Product features Application codes Apps and UX Nordic SoCs and ref designs SDKs, SW stacks and dev tools Cloud lifecycle management Hardware Software Ser
Slide 22: On track towards our long-term ambitions
On track towards our long-term ambitions ▪ Stronger than expected revenue growth of 31% in 2025 ▪ Increased gross margin and improved EBITDA ▪ On track to meet our financial Group targets to grow revenue by >20% on average in 2024-30 and move towards 25% EBITDA-margin Facsimile: Slide from Nordic Ca

Nordic Semiconductor Ord — Q4 2025 Earnings Presentation on 6ix

Nordic Semiconductor Asa — Nordic Semiconductor Ord — Q4 2025 Earnings Presentation

Slide 1: Quarterly presentation Q4 2025

Slide 2: Disclaimer

Slide 3: Today's presenters

Slide 4: Revenue growth and margin improvement

Slide 5: Revenue growth for both top-10 and broad market

Slide 6: Clear design win leader – increasing nRF54 traction

Slide 7: nRF54LV10A

Slide 8: Ultra-low-power edge AI solution

Slide 9: Accelerating space-enabled IoT connectivity

Slide 10: Financials

Slide 11: Revenue by technology

Slide 12: Revenue by markets

Slide 13: Gross margin

Slide 14: Operating model performance Q4 2025

Slide 15: Cash cost development

Slide 16: Capex intensity

Slide 17: Cash flow

Slide 18: Q1 2026 guidance

Slide 19: Closing remarks

Slide 20: Progressing the product portfolio renewal

Slide 21: Complete solutions provider from chip to cloud

Slide 22: On track towards our long-term ambitions

Slide 23: Q&A