Slides
Page 1
QuarterlypresentationQ2 2025August 13, 2025 Copyright © 2025 Nordic Semiconductor. All rightsreserved
Page 2
Copyright © 2025 Nordic Semiconductor. All rights reserved2 DisclaimerThe followingpresentationis beingmadeonlyto, and is onlydirectedat, persons to whomsuchpresentationmaylawfullybe communicated(“relevant persons”). Anyperson whois not a relevant person shouldnot actor relyonthispresentationor anyofitscontents.This presentationdoesnot constitutean offeringofsecurities or otherwiseconstitutean invitationor inducementto anyperson to underwrite, subscribefor or otherwiseacquiresecurities in Nordic Semiconductor ASA (The Company). The release, publicationor distributionofthispresentationin certainjurisdictionsmaybe restrictedby law, and thereforepersons in suchjurisdictionsintowhichthispresentationis released, publishedor distributedshouldinformthemselvesabout, and observe, suchrestrictions.This presentationincludesand is based, interalia, onforward-lookinginformationand containsstatements regardingthefuturein connectionwithThe Company’sgrowthinitiatives, profitfigures, outlook, strategiesand objectives. All forward-lookinginformationand statements in thispresentationarebasedoncurrentexpectations, estimatesand projectionsaboutglobal economicconditions, theeconomicconditionsoftheregions and industriesthataremajor markets for The Company. Theseexpectations, estimatesand projectionsaregenerallyidentifiableby statements containingwordssuchas “expects”, “believes”, “estimates” or similarexpressions.Important factorsmaylead to actualprofits, resultsand developmentsdeviatingsubstantiallyfrom whathas beenexpressedor impliedin suchstatements. AlthoughThe Company believesthatitsexpectationsand thepresentationarebaseduponreasonableassumptions, it cangivenoassurancethatthoseexpectationswillbe achievedor thattheactualresultswillbe as setoutin thepresentation.The Company is makingnorepresentationor warranty, expressedor implied, as to theaccuracy, reliabilityor completenessofthepresentation, and neitherThe Company nor anyofitsdirectors, officersor employeeswillhave anyliabilityto youor anyotherpersons resultingfrom youruse.This presentationwaspreparedin connectionwiththeQ2 resultsreleasedonAugust 13, 2025. Information containedhereinwillnot be updated. The followingslides shouldalsobe readand consideredin connectionwiththeinformationgiven orallyduring thepresentation.
Page 3
Copyright © 2025 Nordic Semiconductor. All rights reserved 3 To d a y ’spresenters §Vegard Wollan, CEO§Pål Elstad, CFO
Page 4
Copyright © 2025 Nordic Semiconductor. All rights reserved4 Q2 2025§Revenue ofUSD 164 million§Gross margin of51%§EBITDA USD 21 million (13%) Q3 2025 guidance§Revenue ofUSD 165 –185 million§Gross margin expectedat ~50% Revenuegrowthand margin improvementQuarterlyrevenuedevelopment(USDm) Copyright © 2025 Nordic Semiconductor. All rightsreserved
Page 5
Copyright © 2025 Nordic Semiconductor. All rights reserved5 Revenue recovery§Nordic has capitalized on a gradual market recovery over the past year§Persisting macroeconomic uncertainty, with trade policy changes and tariffs potentially affecting end-user demand§Continuing the development of a diversified and resilient supply chain§Maintaining close collaboration with our customers Revenue recovery(USDm, last 12 monthsrolling)
Page 6
Copyright © 2025 Nordic Semiconductor. All rights reserved6 Revenue growth for both top-10 and broad market Copyright © 2025 Nordic Semiconductor. All rightsreserved §Strong relationships and close collaboration with key customers §Regaining traction in the broad market 50%48%41%41%43%39%45%55%57%58% 0100200300400500600700800 201620172018201920202021202220232024LTMQ2'25Top-10OtherTop 10 %
Page 7
Copyright © 2025 Nordic Semiconductor. All rights reserved 7 Clear design win leader – still based on nRF52 32% share of certifications last 12 months, 4x of the runner up Source: Nordic Semiconductor / Bluetooth SIG Bluetooth LowEnergy end-productcertifications, last 12 months Nordic end-productcertifications Q2’25106 designs29% share LTM427 designs32% share Competitors Copyright © 2025 Nordic Semiconductor. All rightsreserved 050100150200250300350400450
Page 8
Copyright © 2025 Nordic Semiconductor. All rights reserved8 New productlaunches–greatcustomertraction High design activity Strong customer design pipeline confirming market leading nRF54L, nRF54H, nRF9151 and new PMIC offering Limited 2025 revenue effect, accelerating growth from 2026 Multiple new innovative products to be launched within the nRF54 Series in 2H 2025
Page 9
Copyright © 2025 Nordic Semiconductor. All rights reserved 9 Product launch: nPM1304 PMIC §Designed for next-generation, space-constrained applications with ultra-small batteries§Industry’s first ultra-low power, precision fuel gauging for these battery sizes, enabling accurate remaining battery life estimation§Complements Nordic’s growing PMIC portfolio for a wide range of applications and use-cases Application examples Adding to the award-winning nPM1300 Personal healthmonitoringConsumer applicationsIndustrialsensors nPM1304 PMIC
Page 10
Copyright © 2025 Nordic Semiconductor. All rights reserved 10 Recognized by TIME magazine and StatistaNamed one of the "World’s Most Sustainable Companies”Nordic climbs 200 rankings to 121st place in TIME magazine’s “World’s Most Sustainable Companies” for 2025
Page 11
Copyright © 2025 Nordic Semiconductor. All rights reserved § Financials§ Pål Elstad, CFO FinancialsPål Elstad, CFO
Page 12
Copyright © 2025 Nordic Semiconductor. All rights reserved12 Revenue by technologyShort-range (USDm)QuarterlyLong-range (USDm)QuarterlyOther(USDm)Quarterly
Page 13
Copyright © 2025 Nordic Semiconductor. All rights reserved 13 Strongmomentumacrosskeymarkets Revenue for theindividualmarketsexcludesASICsand consultingrevenue
Page 14
Copyright © 2025 Nordic Semiconductor. All rights reserved14 §Improvement reflecting customer and product mix§Expecting gross margin around 50% also in Q3 2025 §Reiterating long-term ambition to maintain gross margin >50% * Note: Gross margin for Q2 2024 excludesa USD 10 million writedownofinventoryin Long-range Gross margin
Page 15
Copyright © 2025 Nordic Semiconductor. All rights reserved15 Operating modelperformanceQ2 2025
Page 16
Copyright © 2025 Nordic Semiconductor. All rights reserved16 §Flat cash cost y-o-y with cost focus mitigating inflationary and currency pressure§Headcount down 3% vs. Q4 2024, 5% vs. Q2 2024§Currency set to affect y-o-y comparisons also going forward §Acquisitions increasing quarterly OPEX base by ~USD 4 million (from Q3 2025)§Continuous cost focus to improve margins Cash costdevelopmentCash OPEX (USDm)
Page 17
Copyright © 2025 Nordic Semiconductor. All rights reserved17 §Temporary uptick in capex in Q2 driven primarily by supply chain capacity expansions, along with IT infrastructure investments§Capex intensity last 12 months at 2.8% of revenue CapexintensityCapex(USDm)
Page 18
Copyright © 2025 Nordic Semiconductor. All rights reserved18 §Solid cash generation from operations with EBITDA of USD 16.6m including capitalized development costs§NWC/Revenue (LTM) reduced to 23%, driven by low inventory and high collections§Not including the acquisitions made after the quarter, which were partially financed by a 12-month bridge loan Strongcash flow * EBITDA Adjustedfor CapitalizedDevelopment Costs Cash positionand cash flowQ2 2025 (USDm)
Page 19
Copyright © 2025 Nordic Semiconductor. All rights reserved § Financials§ Pål Elstad, CFO ClosingremarksVegard Wollan, CEO
Page 20
Copyright © 2025 Nordic Semiconductor. All rights reserved20 Strategic acquisitions A patented technology offers accurate, energy-efficient, and fast AI for edge applications The leading cloud platform provider enabling device management to large-scale deployments of connected products A complete chip-to-cloud solution provider
Page 21
Copyright © 2025 Nordic Semiconductor. All rights reserved21 A complete solutions provider– from device to cloud §Executed two strategic acquisitions accelerating Nordic’s transition from a HW company to a complete solution partner§Nordic the first semiconductor company to combine best-in-class hardware, software, edge AI and cloud services §Building, deploying and upgrading connected products to meet evolving requirements and increasing software complexity Expanding the strategic scope in alignment with our long-term ambitions Apps and UX Customer Hardware Application codes Product features Cloud lifecycle managementSDKs, SW stacks and dev toolsSoCs and ref designs Market leaderships across three fundamental pillars Nordic Software Services
Page 22
Copyright © 2025 Nordic Semiconductor. All rights reserved22 §Customer orders and forecasts indicate continued year-on-year revenue growth in Q3§Gross margin expected to remain around ~50% in Q3 Q3 2025 guidance RevenueGross marginUSDm165-185m~50%+4% to +17%y-o-y +1% to +13%q-o-q
Page 23
Q&A