Nordic Semiconductor Asa · OSL:NOD

Nordic Semiconductor Asa — Nordic Semiconductor Ord — Q3 2025 Earnings Presentation

25 slides from Nordic Semiconductor Asa's earnings presentation, Oct 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: Revenue growth and margin improvement
Revenue growth and margin improvement Quarterly revenue development (USDm) Q3 2025 § Revenue of USD 179 million § Gross margin of 52% § Adjusted EBITDA USD 18 million (10%) Q4 2025 guidance § Revenue of USD 155 – 175 million § Gross margin expected above 50% Copyright © 2025 Nordic Semiconductor. Al
Slide 5: Revenue growth for both top-10 and broad market
Revenue growth for both top-10 and broad market 1000 62% § Top-10 revenue back at the peak levels 55% 57% 57% from 2022, reflecting strong relationships 800 50% 48% and close collaboration with key 45% 41% 41% 43% 39% customers 600 400 § Regaining traction also in the broad market, although revenue
Slide 6: Clear design win leader – mainly based on nRF52
Clear design win leader – mainly based on nRF52 30% share of certifications last 12 months, 3-4x of closest competitors Bluetooth Low Energy end-product certifications, last 12 months Nordic end-product 450 certifications 400 350 300 Q3’25 250 124 designs 31% share 200 150 100 LTM 50 0 439 designs 3
Slide 7: Strong momentum on the nRF54 Series
Strong momentum on the nRF54 Series Customer centric development approach High customer interest – continuing to broaden the product family with new versions Shaping future roadmap with innovative features together with key customers – which will also become available for the broad market As earlier
Slide 8: Broadening nRF54 Series
Broadening nRF54 Series Launched high-end nRF54LM20A Built on same hardware and software architecture as the nRF54L Series nRF54LM20A is a versatile large-memory SoC for advanced Bluetooth LE and Matter applications: § Expanded memory enables more feature-rich applications and advanced connectivity
Slide 9: Launch of nRF Connect SDK "Bare Metal" for nRF54L Series
Launch of nRF Connect SDK “Bare Metal” for nRF54L Series Strategic software option for broad market • Easy-to-use software solution for those who do not need a real-time operating system (RTOS) Lowering entry barrier for developing simple Bluetooth LE nRF Connect SDK ‘Bare Metal’ • applications • Wi
Slide 10: Launched cloud services powered by Memfault
Launched cloud services powered by Memfault Nordic becoming a complete solutions provider– from chip to cloud § Chip-to-cloud lifecycle management solution with full device observability and over-the-air capabilities § Gives all Nordic customers out-of-the-box access to essential cloud infrastructur
Slide 15: Industrial & healthcare driving growth in the quarter
Industrial & healthcare driving growth in the quarter Copyright © 2025 Nordic Semiconductor. All rights reserved Revenue for the individual markets excludes ASICs 15
Slide 16: Gross margin
Gross margin § Improvement reflects customer and product mix, improvement in broad market and positive contribution from recently acquired services business § Expecting gross margin above 50% also in Q4 2025 § Reiterating long-term ambition to maintain gross margin >50% Copyright © 2025 Nordic Semic
Slide 18: Cash cost development
Cash cost development § Acquisitions and higher activity level increase our Cash OPEX (USDm) total cost base § Cost increase mainly driven by payroll § Number of employees increased to 1,410 at the end of Q3 2025, including 59 employees joining from Neuton and Memfault § Similar cost level expected
Slide 19: Cash payroll development
Cash payroll development § Salary adjustments adding ~USD 2 million quarter- Cash payroll (USDm) on-quarter § Acquisitions adding ~USD 4 million to cash payroll § Accruals for FY bonus and social security tax on RSUs adding ~USD 5 million § Minor additions from FX and other in the quarter Note: Cash
Slide 20: Capex intensity
Capex intensity § Capital expenditures mainly reflect Capex (USDm) supply chain capacity expansion and lab equipment § Capex intensity last 12 months at 3.7 % of revenue * Copyright © 2025 Nordic Semiconductor. All rights reserved 20 *Q3 2025 capex values excludes assets acquired from Memfault and N
Slide 21: Cash flow
Cash flow Cash position and cash flow Q3 2025 (USDm) § Continued positive cash generation from operations, with EBITDA of USD 12.6m including capitalized development costs § Significant investments in Neuton.AI assets and acquisition of Memfault § Net USD 102.9m raised in new equity during the quart
Slide 23: Solid revenue recovery over the past year
Solid revenue recovery over the past year § YTD revenue of USD 498 million, +38% year-on year Revenue (USDm), last 12 months rolling § LTM revenue of USD 648 million, also +38% year-on-year § Maintained strong position in Short-range § Resilient demand for nRF52, expecting accelerating contribution
Slide 24: Q4 2025 guidance
Q4 2025 guidance Revenue Gross margin § Customer orders and forecasts indicate year-on-year revenue USDm growth in Q4 155-175m >50% § Gross margin expected to be above 50% in Q4 +3% to +17% -2% to -13% y-o-y q-o-q Copyright © 2025 Nordic Semiconductor. All rights reserved 24
Slide 25: BS Noroic
BS Noroic SA Q

Nordic Semiconductor Ord — Q3 2025 Earnings Presentation on 6ix

Nordic Semiconductor Asa — Nordic Semiconductor Ord — Q3 2025 Earnings Presentation

Slide 1: Quarterly presentation Q3 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 – mainly based on nRF52

Slide 7: Strong momentum on the nRF54 Series

Slide 8: Broadening nRF54 Series

Slide 9: Launch of nRF Connect SDK "Bare Metal" for nRF54L Series

Slide 10: Launched cloud services powered by Memfault

Slide 11: WINNER Cloud Computing Innovation of the year

Slide 12: Also. Transcendent Mobility

Slide 13: Financials

Slide 14: Revenue by technology

Slide 15: Industrial & healthcare driving growth in the quarter

Slide 16: Gross margin

Slide 17: Operating model performance Q3 2025

Slide 18: Cash cost development

Slide 19: Cash payroll development

Slide 20: Capex intensity

Slide 21: Cash flow

Slide 22: Closing remarks

Slide 23: Solid revenue recovery over the past year

Slide 24: Q4 2025 guidance

Slide 25: BS Noroic