Slide 1: Q4 2024 Results
Q4 2024 Results Presented by CEO Rósa Stensen and CFO Abhijit Banik th 19 February 2025
Slide 2: Key highlights Q4 2024
Key highlights Q4 2024 Revenue and gross margin Q4 2024 results NOK million ▪ Revenue of NOK 51 million ▪ 97 % revenue increase compared to Q3 2024, and 15 % vs. Q4 2023 ▪ Gross margin of 59 %: Significantly above Q3 2024 (40 %) and Q4 2023 (38 %) ▪ Revenue growth and margin improvement mainly drive
Slide 3: Huddly Crew: A new category of multi-camera systems
Huddly Crew: A new category of multi-camera systems Imagine a live video crew producing your meetings… The solution: Huddly Crew and AI technology Huddly AS, Q4 2024
Slide 4: Significant acceleration in adoption of Crew
Significant acceleration in adoption of Crew Kits sold per quarter Market validation with increasing average order size Crew it with cameras Crew add on camera Average number of Crew kits sold per order* Purchase order examples Q3-24: 17 kits from a large customer in Canada (government sector) ~0.9
Slide 5: BDO has recently rolled out Huddly Crew at scale
BDO has recently rolled out Huddly Crew at scale ▪ BDO has 18 offices in the UK. Around 260 small and medium rooms are equipped with Huddly IQ and L1 cameras ▪ In addition, BDO has recently rolled out 18 Huddly Crew systems for large rooms where important events and conferences are held Huddly provi
Slide 6: Microsoft has chosen Huddly Crew for its headquarter
Microsoft has chosen Huddly Crew for its headquarter ▪ 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 vision for flexible, next-g
Slide 7: Microsoft certifies Huddly Crew for up to five cameras
Microsoft certifies Huddly Crew for up to five cameras Most rooms today have only one camera. I believe every space will have multiple cameras to provide a rich as-if-you’re-there view. To make that all usable, we have to remove the complexity and cost from deploying those pieces. - Ilya Bukshteyn,
Slide 8: Huddly + Shure: A strategic partnership for unmatched audio & video
Huddly + Shure: A strategic partnership for unmatched audio & video 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 frame people an
Slide 9: Shure showcased their new product portfolio with Huddly at the ISE 2025 tech show
Shure showcased their new product portfolio with Huddly at the ISE 2025 tech show Photos by Shure Incorporated Huddly’s go to market supported by a market leader with global footprint Huddly AS, Q4 2024
Slide 10: 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 (Crew+) Huddly Crew+ Satellite device (modularity) Huddly AI Direc
Slide 11: Huddly introduces the new videobar C1 at ISE
Huddly introduces the new videobar C1 at ISE Huddly’s booth at ISE C1 capabilities ✓ Huddly Machine Learning Audio: Clear audio capture and optimal sound quality ✓ Leading AI video experience ✓ All-in-one, ready-to-deploy system ✓ Huddly Crew connectivity Live demoed to ~250 customers and partners w
Slide 12: Strategic review
Strategic review ▪ On 9 November 2023, the Company announced that it would be conducting a strategic review. The process was launched following interest from a global industrial player, and is aimed at evaluating the Company’s long-term direction and partnerships ▪ The Company has prolonged the stra
Slide 13: Outlook and key priorities: Remain the same as communicated in Dec 2024
Outlook and key priorities: Remain the same as communicated in Dec 2024 Strategic focus Priorities and plan Growth ambitions (MNOK) 1 Channel re enue trategic partner re enue ross margin total Grow channel Leveraging Strong alignment ~ 50% 48% Grow Strategic partner revenue by focusing existing and
Slide 14: Financials
Financials Huddly AS, Q4 2024
Slide 15: Strong Q4 2024 sales driven by Huddly Crew
Strong Q4 2024 sales driven by Huddly Crew Revenue development and split NOK million, % of total revenue Revenue of NOK 51 million resulting in 97 % increase 4% compared to Q3 2024, and 15 % vs. Q4 2023 ▪ ales to Channels doubled compared to Q ’24, and increased by 80 % s. Q4’2 % 2 % o Strong moment
Slide 16: Gross margin of 59 % in Q4 2024: Significantly above previous quarters
Gross margin of 59 % in Q4 2024: Significantly above previous quarters Gross margin (%) development ▪ trongest underlying gross margin since Q2’20 which was also 59 % ▪ Driven by the unique Huddly Crew customer experience: Monetizing on AI and software Underlying > innovation gross margin of 52 %, e
Slide 17: Summarized profit and loss: Improved operational efficiency
Summarized profit and loss: Improved operational efficiency Condensed profit & loss statement NOK million Q4 2024 Q4 2023 Change 2024 2023 Change ▪ Revenue increase mainly due to strong sales of Revenue 50.9 44.2 15% 148.8 210.7 -29% Huddly Crew through Channels Gross profit 30.0 16.9 78% 71.6 100.9
Slide 18: 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 21 million in Q4 2024. 9 % increase compared to Q4 2023, but in line with capitalization in previous quarters ▪ Continued in estments to defend Huddly’s leading > technological position with Crew
Slide 19: Cost savings of NOK 12 million implemented in 2025
Cost savings of NOK 12 million implemented in 2025 The organization is being streamlined Cost savings Number of FTEs ▪ As part of the equity raise in December 2024, Huddly announced a cost reduction of approximately NOK 12 million annually from 2025 ▪ Following a restructuring and downsizing of the
Slide 20: Q4 2024 cash flow: Successful equity raise funding the company to cash flow breakeven
Q4 2024 cash flow: Successful equity raise funding the company to cash flow breakeven Cash flow NOK million ▪ Raised NOK 130 million in gross proceeds in 2 a private placement in December 2024 4 ▪ Received strong support from existing and new shareholders, and was significantly over- 2 > subscribed
Slide 21: Q&A
Q&A CEO, Rósa Stensen CFO, Abhijit Banik Chair of the Board, Jon Øyvind Eriksen Huddly AS, Q4 2024
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