Nordic Semiconductor Asa · OSL:NOD

Nordic Semiconductor Asa — Nordic Semiconductor Ord — Q1 2025 Earnings Presentation

24 slides from Nordic Semiconductor Asa's earnings presentation, Apr 29, 2025

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: Strong performance in Q1
Strong performance in Q1 Q1 2025 Quarterly revenue development (USDm) § Revenue of USD 155 million ¡ High growth from a Q1’24 affected by significant inventory adjustments ¡ Healthy underlying demand ¡ Positively impacted by orders from individual large customers ¡ Gross margin of 50% § EBITDA USD 1
Slide 5: Navigating macroeconomic uncertainty
Navigating macroeconomic uncertainty § Nordic has been well positioned to capitalize on the LTM revenue– five-year overview (USDm) gradual market recovery over the past year § Trade policy changes affecting the complex semiconductor value chains § Continuing to develop a diversified and resilient su
Slide 6: Top-10 share stabilizing
Top-10 share stabilizing 800 § Solid revenue increases with both top-10 700 55% 57% 57% and broad market customers 600 50% 48% § Maintained strong relationships with key 45% 500 41% 41% 43% 39% customers 400 § High priority to regain traction in the broad market 300 200 100 0 2016 2017 2018 2019 202
Slide 7: Remaining the clear design win leader
Remaining the clear design win leader 34% share certifications, 4x of the runner up Bluetooth Low Energy end-product certifications, last 12 months Nordic end-product certifications Q1’25 127 designs 34% share LTM 451 designs 34% share *Source: Nordic Semiconductor / Bluetooth SIG Competitors Copyri
Slide 8: nRF54 Series gains market traction
nRF54 Series gains market traction Engagement from key and broad market customers High design activity with both existing and new customers On track with innovative roadmap expanding our addressable market Limited 2025 revenue effect, accelerating growth from 2026 Copyright © 2025 Nordic Semiconduct
Slide 9: nRF9151 expanding to satellite communication
nRF9151 expanding to satellite communication Targeting remote infrastructure and globally roaming products § Software update will enable nRF9151 to operate on both cellular networks and non- terrestrial networks, or combination § Supporting both LEO (Low Earth Orbit) and GEO (Geostationary satellite
Slide 10: Strategic partnerships
Strategic partnerships Unlocking global IoT connectivity with nRF9151 Deutsche Telecom (DT) Skylo Seamless connectivity with nRF9151 certified for commercial nRF9151 across DT´s extensive satellite via Skylo NTN network network and roaming partners Keysight NR+ Interest Group Live NTN demo at MWC us
Slide 11: Product launch: nPM2100 PMIC
Product launch: nPM2100 PMIC For end-products with non-rechargeable batteries § Enabling ultra-low power Bluetooth LE applications § Optimized for power efficiency and system performance § Expanding target market to meet the demand for primary/non- nPM2100 Evaluation Kit rechargeable cell batteries
Slide 14: Strong momentum across key markets
Strong momentum across key markets Copyright © 2025 Nordic Semiconductor. All rights reserved Revenue for the individual markets excludes ASICs and consulting revenue 14
Slide 15: Gross margin
Gross margin § Stable underlying development § Year-on-year improvement reflecting customer and product mix, and low revenue in Q1’24 § Expecting gross margin around 50% also in Q2 2025 § Reiterating long-term ambition to maintain gross margin >50% * Note: Gross margin for Q2 2024 excludes a USD 10
Slide 17: Cash cost development
Cash cost development § Flat cash cost y-o-y with cost focus mitigating Cash OPEX (USDm) inflationary pressures § Headcount down 4% vs. Q4 2024, 6% vs. Q1 2024 § Continuous focus on spending to improve margins Copyright © 2025 Nordic Semiconductor. All rights reserved 17
Slide 19: Focus on cash spending
Focus on cash spending Cash position and cash flow Q1 2025 (USDm) § Operating cash flow of USD 34.9m in Q1 § NWC/Revenue (LTM) reduced to 26%, driven by low inventory and high collections § Capex spending remain tightly managed § Currency translation relates to the natural cash hedge of the bond § S
Slide 21: On track with product portfolio renewal
On track with product portfolio renewal Short-range Launched the first nRF54 products late 2024 Established Launching 2-4 nRF54 product families on 22nm per year Long-range Launched the new nRF9151 in second half of 2024 Scale-up New nRF92 on 22nm in 2026 Wi-Fi Early-stage New nRF71 on 22nm in 2026
Slide 22: Committed to our long-term ambitions
Committed to our long-term ambitions Early-stage Scale-up Established Wi-FI, PMIC Long-range Short-range Group Deliver average annual revenue growth above 20% through the decade level ambitions Moving towards target operating model profitability of ~25% EBITDA within five years Copyright © 2025 Nord
Slide 23: Q2 2025 guidance
Q2 2025 guidance Y/Y revenue growth amidst higher uncertainty § Order inflow and customer Revenue Gross margin forecasting indicates continued year-on-year revenue growth in Q2 USDm 145-165m ~50% § Gross margin expected to remain around ~50% in Q2 +13% to +29% -6% to +6% y-o-y q-o-q Copyright © 2025
Slide 24: Q&A
Q&A April 29, 2025

Nordic Semiconductor Ord — Q1 2025 Earnings Presentation on 6ix

Nordic Semiconductor Asa — Nordic Semiconductor Ord — Q1 2025 Earnings Presentation

Slide 1: Quarterly presentation Q1 2025

Slide 2: Disclaimer

Slide 3: Today's presenters

Slide 4: Strong performance in Q1

Slide 5: Navigating macroeconomic uncertainty

Slide 6: Top-10 share stabilizing

Slide 7: Remaining the clear design win leader

Slide 8: nRF54 Series gains market traction

Slide 9: nRF9151 expanding to satellite communication

Slide 10: Strategic partnerships

Slide 11: Product launch: nPM2100 PMIC

Slide 12: Financials

Slide 13: Revenue by technology

Slide 14: Strong momentum across key markets

Slide 15: Gross margin

Slide 16: Operating model performance Q1 2025

Slide 17: Cash cost development

Slide 18: Capex intensity remains low

Slide 19: Focus on cash spending

Slide 20: Summary and outlook

Slide 21: On track with product portfolio renewal

Slide 22: Committed to our long-term ambitions

Slide 23: Q2 2025 guidance

Slide 24: Q&A