Huddly As · OSL:HDLY
Huddly As — Q2 2026 Earnings Presentation
26 slides from Huddly As's earnings presentation
Slide 1: Q2 2026 Results
Q2 2026 Results Presented by CEO Rósa Stensen and CFO Abhijit Banik Huddly AS, Q2 2026 Huddly AS, Q2 2026
Slide 2: Key highlights Q2 2026
Key highlights Q2 2026 Revenue and Gross margin: ▪ NOK 50 million in Q2 2026 revenue, a reported YoY decline of 11%. Key financials Organic YoY growth was 13%, adjusted for tariff stocking and FX effects ▪ Strong gross margin, despite increasing component prices: 49% in Q2 2026, up from 43% in Q2 20
Slide 3: Business plan priorities
Business plan priorities 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 3 Huddly AS, Q2 2026
Slide 4: Strategic partners overview: Strong position & growth potential
Strategic partners overview: Strong position & growth potential ~15-20 % market share The world’s largest PC manufacturer, Jabra has a strong position in small to medium Global bundling their own ThinkSmart Core Gen 2 rooms with its PanaCast videobar, now enhancing videoconferencing Growth compute w
Slide 5: Lenovo brings Huddly to the global market through its own sales channels
Lenovo brings Huddly to the global market through its own sales channels ▪ Lenovo was signed as a Strategic partner in January 2026. Lenovo is a global t ch y d d th w d’ tp c p t p d ▪ As a first phase in the partnership, Lenovo offers its compute devices with Huddly’s portfolio of single camera, m
Slide 6: Jabra and Huddly go after the large-room market with "Room for More"
Jabra and Huddly go after the large-room market with “Room for More” ▪ Jabra is actively promoting the Huddly bundles through their go-to-market under the "Room for More" concept ▪ Large room market penetration: Huddly complements Jabra's portfolio for large rooms, driving growth through broader mar
Slide 7: Strategic partner rollout status at end of Q2-26
Strategic partner rollout status at end of Q2-26 Strategic partner from start to revenue – High-level stages 1 2 3 Contract negotiations and signing Enabling end-customer shipment Scaling and volume ramp up ▪ Identify bundling opportunities based on complementary ▪ Set up bundles based on agreed har
Slide 8: Product roadmap on track: Complete AI-native collaboration system
Product roadmap on track: Complete AI-native collaboration system Product evolution AI cameras: Huddly L1, S1 and IQ AI camera systems: Huddly Crew AI-native collaboration systems: Huddly Crew+ E1 launching in Q1 2027 Video Video Video Audio Audio Audio AI data channel AI data channel AI data channe
Slide 9: Huddly now supports next generation Microsoft Teams IntelliFrame with AI data channel
Huddly now supports next generation Microsoft Teams IntelliFrame with AI data channel Next-generation data capture Microsoft Teams Rooms Huddly builds a structured, live model of the room Room context becomes collaboration intelligence AI data channel A dedicated connection sharing real-time room un
Slide 10: The Huddly Crew+ system covers small and medium rooms…
The Huddly Crew+ system covers small and medium rooms… 10 Huddly AS, Q2 2026
Slide 11: …scales effortlessly to large rooms…
…scales effortlessly to large rooms… 11 Huddly AS, Q2 2026
Slide 12: …and all the way to the all-hands space – one modular system for every room
…and all the way to the all-hands space – one modular system for every room 12 Huddly AS, Q2 2026
Slide 13: Huddly Crew+ is uniquely positioned in a market growing 8X
Huddly Crew+ is uniquely positioned in a market growing 8X 1 Multi-camera room penetration – % of video-enabled rooms Unique, market-leading solution AI-native platform – video, audio and AI data channel in one modular system 2 Disruptive pricing A premium video and audio offering at a significantly
Slide 14: Room technology budget
Higher selling prices and a larger share of the room budget drive future revenue and margin growth 20 kUSD 15 kUSD (video, audio and compute) Room technology budget Huddly Crew+ (C1 and E1) 10 kUSD Huddly Crew with C1 5 kUSD Huddly C1 Small: 3-6 people Medium: 6-9 people Large: 9-14 people Very larg
Slide 15: Channel sales: Recovery taking hold in the US, growth in UK and APAC
Channel sales: Recovery taking hold in the US, growth in UK and APAC Overview of key Channel markets and growth trends UK: Growing ▪ Strong growth in sell-out volumes in the UK and Ireland North America: Stabilizing ▪ The US market is stabilizing following a challenging H1 2026 due to elevated stock
Slide 16: Summary: Revenue-driving inflection points
Summary: Revenue-driving inflection points Q1 2027 Q3 2026 Crew+ launch AI data channel launch Crew+ completes Huddly AI-native product platform, Integration with Microsoft Teams increasing Total Addressable Market (TAM) and IntelliFrame people labels allowing for higher average revenue per room 1 2
Slide 17: Business case: Promising growth prospects
Business case: Promising growth prospects Investment case: Key growth drivers Growth ambitions (NOK million) – Updated 1 Large and growing market with estimated 16 % CAGR. Multi-camera rooms are forecast Attractive market ~45-50% ~45-50% to grow from under 1% to ~8% of video- ~45-50% enabled rooms b
Slide 18: Financials
Financials Huddly AS, Q2 2026 Huddly AS, Q2 2026
Slide 19: Revenue: Strategic partners ramping up slower than planned
Revenue: Strategic partners ramping up slower than planned Revenue development and split NOK million, % of total revenue St t cp t Ch ▪ Sales to Strategic partners in Q2 2026 increased by 7% compared to Q2 2025 ▪ Strategic partner revenue was lower than anticipated, as volume is now expected to grad
Slide 20: Underlying revenue growth of 13%
Underlying revenue growth of 13% Revenue NOK million ▪ Reported YoY decline of 11% is mainly explained by one-time tariff stocking in Q2'25 13% organic and a weaker USD against the NOK growth > ▪ Organic growth measured at constant currency (Q2'25 average USD/NOK of 10.3) and adjusted for NOK 8 mill
Slide 21: Gross margin improved to 49%
Gross margin improved to 49% Gross margin (%) development ▪ The gross margin for Q2 2026 improved to 49%, up from 43% in Q2 2025 ~45-50% estimated in 2026 ▪ Q2 2026 benefited from a favorable customer and > product mix, with no material one-off items impacting gross margin for the period ▪ The full-
Slide 22: Summarized P&L: Gross profit held despite lower revenue
Summarized P&L: Gross profit held despite lower revenue Condensed profit & loss statement NOK million hange hange ▪ The YoY revenue decline was driven by Channel sales, 0 9 9 02 0 while Strategic partner revenue grew but came in below plan p ft 2 2 2 ▪ However, the strong gross margin in Q2 2026 off
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 investments of NOK 11.8 million in Q2 2026 (-15% YoY), reflecting a lower share of engineering hours on capitalizable development projects ▪ Huddly has 57 engineers, of whom approximately 45 have > extensive
Slide 24: Q2 2026 cash flow
Q2 2026 cash flow Cash flow NOK million ▪ Operating cash flow was NOK -50 million in Q2 2026, compared to NOK -18 million in Q2 2025. The higher outflow is largely working capital- related, as inventory has been built up in 9 anticipation of Strategic partner demand 0 ▪ Financing includes loan proce
Slide 25: Q&A
Q&A CEO, Rósa Stensen CFO, Abhijit Banik Chair of the Board, Jon Øyvind Eriksen Huddly AS, Q2 2026 Huddly AS, Q2 2026
Slide 26: Huddly AS, Q2 2026
Huddly AS, Q2 2026