Airthings (AIRX) a global leader in air quality monitoring and energy-saving
solutions, today announced its financial results for the fourth quarter of 2020,
reporting an all-time high revenue increase of 40% compared to the previous year
and a gross profit margin of 68%. The record-breaking revenue marks the end of a
strong year for Airthings, with total revenue of NOK216.9 million, which is at
the top of the guided range. 
			
"There's an unprecedented increase in awareness and concern about indoor air
quality and how it impacts our health," says Oyvind Birkenes, CEO of Airthings.
"As a result, we see a substantial uptake in demand for both our consumer and
business solutions. In the last quarter, Airthings received accolades from
global analyst firm Frost & Sullivan and the Consumer Electronics Show both
reinforcing our position as the market leader, uniquely placed to empower the
world to breathe better through our simple and innovative solutions."

Key highlights for the fourth quarter of 2020

- 4Q total revenue of NOK84.0m - up 40% YoY
- 4Q total gross profit of NOK57.2m - up 28% YoY and gross profit margin of 68%
- Total revenue of NOK216.9m in 2020 - at the top of the guided range and up 50%
YoY
- Total ARR reached NOK10.6m - up 267% YoY					
- Completed successful private placement and IPO - raising NOK500m in growth
capital
- Launched new virtual sensor and product feature for the Airthings for Business
solution - Virus Risk Indicator and CO2 Alert
- Reached an all-time high new unique web users - up 150% YoY
- Signed agreement with Schneider Electric			


Strong outlook for 2021

- 2021 total revenue in the range of NOK315-345m
- 2021 ARR in the range of NOK32-40m
- 1Q21 total revenue in the range of NOK57-65m
- 1Q21 ARR in the range of NOK14-17
- Frost & Sullivan recognized Airthings with the 2020 Global Product Leadership
Award
- CES 2021 Innovation Awards Honoree for two products: Wave Plus for Business
with Virus Risk Indicator and Wave Mini with Mold Risk Indicator
- Contract with one of the worlds' largest commercial real estate companies,
resulting in roll-out for an international retail bank supporting nearly 600 end
locations 

Financial Results

Group total revenue reached NOK84m in the fourth quarter, a 40% increase
compared to the previous year. Group EBIT came in at -NOK17.2m. Main highlights
include one-time costs of NOK8.7m related to the private placement and
subsequent listing on Euronext Growth in addition to increased personnel
expenses which is in accordance with planned expansion. 

A live presentation of the fourth quarter results will be given by CEO Øyvind
Birkenes and CFO Erik Lundby at 08.30 CET via this link. 

A recording of the presentation will also be made available on
airthings.com/investors.
 
For more information, 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 ASA
Airthings is a global leader within 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.