The Business Segment drives the growth, with a 516% increase in revenue compared
to 1Q20

Oslo, Norway (29 April 2021) - Airthings (AIRX) a global leader in air quality
monitoring and energy-saving solutions, today announced its financial results
for the first quarter of 2021, reporting a sales revenue of NOK57.5m, up 14%
YoY. Airthings for Business was the main growth driver (up 516% to NOK9.5m) with
a solid increase in both deal volume and size, as well as the Pro segment, (up
45% to NOK8.3m) driven by a strong housing market in the US. Sell-through at
retail and e-commerce partners was strong at >150% YoY growth for Airthings
smart products. Amazon's reduced target for their inventory level pushed a
planned order to the second quarter, contributing to the 8% YoY decline in the
Consumer segment.

During the first quarter, Airthings continued to deliver high-quality products,
features, and partnerships including the launch of View Plus, the worlds' most
advanced indoor air quality monitor, and My Pollen Levels, a new feature
available via the Airthings app. In addition, the company partnered with
Walmart, the world's largest retailer, rolling out the Wave Mini in nearly 800
stores during the second quarter of 2021.

The Annual Recurring Revenue (ARR) continued its exponential growth, reaching
NOK14.2m, up 126% YoY. The solid sell-in towards Airthings for Business partners
suggests continued ARR growth going forward. Airthings reiterated its full-year
revenue and ARR expectations and expects 2Q revenue and ARR midpoint of NOK65m
and NOK18m respectively.

"More and more people suffer the effects of allergens, pollution, wildfire
smoke, radon, and airborne viruses, but lack the means to detect these invisible
enemies in the air," said Oyvind Birkenes, CEO of Airthings. "With the launch of
View Plus, we're better positioned than ever to fill the increasing market's
need for monitoring and controlling air quality in schools, offices, homes, and
other buildings-ensuring a safe and healthy indoor environment for all."

Industry Recognition
Airthings kicked off 2021 with two products honored at the CES 2021 Innovation
Awards: Wave Plus for Business with Virus Risk and Wave Mini with Mold Risk
Indicator, followed by Frost & Sullivan's 2020 Global Product Leadership Award,
which recognizes companies offering products or solutions that deliver the best
quality, reliability, and performance in the industry. Later in the quarter,
Airthings was featured in the Financial Times annual list of Europe's
fastest-growing companies, one of the eight Norwegian companies on the list. 

Key Highlights for the first quarter of 2021

- 1Q sales revenue of NOK57.5m - Up 14% YoY 
- 1Q gross profit of NOK35.4m - Gross profit margin of 62%
- Total ARR reached NOK14.2m - Up 126% YoY
- Airthings for Business revenue up 516% YoY to 9.5m - Eight quarters with
strong consecutive growth
- Successful launch of View Plus - The world's most advanced air quality monitor
to date. View Plus will generate significant revenues starting from 3Q21
- Rolling out in nearly 800 Walmart stores in Q2
- Launched new feature for allergy season: My Pollen Levels available via the
Airthings app

CEO Øyvind Birkenes and CFO Erik Lundby will give a live presentation of the
first quarter results at 08.30 CET via this link. A recording of the
presentation will be available on airthings.com/investors.

For any questions or interview requests, please contact:

Oyvind Birkenes - CEO
T: +47 922 43 551
E: o.birkenes@airthings.com

Erik Lundby - CFO & Head of Investor Relations 
T: +47 924 00 396
E: erik.lundby@airthings.com

Nora Perez - Press Contact 
T: +47 980 92 075
E: nora.perez@airthings.com

About Airthings 
Airthings is a global leader in indoor air quality solutions for consumers,
businesses and professionals. The company's highly innovative solutions resolve
global issues related to air quality and air contaminants, while at the same
time enabling a reduced CO2 footprint by optimizing energy consumption in
buildings. Airthings is led by a team of experienced engineers and technology
professionals that together share a common goal: to empower the world to breathe
better.