Airthings (AIRX), the global leader in air quality monitoring and energy-saving
solutions, announced today its financial results for the second quarter 2021,
reporting sales revenue of NOK68.0M, representing a YoY growth of 80%. The 2Q21
sales revenue growth was strong from all the segments. Consumer revenue is up
69% YoY to NOK49.8m, Airthings for Business is up 284% YoY to NOK9.7m, and PRO
is up 45% YoY to NOK8.5M. Gross Profit Margin is strong and ended at 67.1% for
the quarter. The outlook for 3Q21 is also strong with a midpoint of guiding
range corresponding to >100% YoY growth. The 3Q21 revenue window is NOK80-90M.

The solid footprint in the US continues with the geographic revenue split for
the second quarter of 74% and 26% in the Americas and EMEA regions respectively.


During the second quarter, Airthings' dedication to delivering outstanding
products and features included the View Plus shipping to customers and rolling
out in more than 3 000 CVS stores, the largest pharmaceutical retail chain in
the US. What's more, thanks to a signed contract with Carrier, the Airthings for
Business solution will be commercialized through more than 500 Edwards (a
Carrier brand) affiliates and will power the new Carrier smart building
platform, Abound. 

Annual Recurring Revenue (ARR) came in at NOK16.5M at the end of the second
quarter, representing a growth of 178% YoY. This growth is primarily driven by
the Airthings for Business segment, which is up >300% YoY. 

"Without a doubt, an unprecedented increase in awareness and concern about
indoor air quality and how it impacts our health is evident," says Oyvind
Birkenes, CEO of Airthings. "Thanks to our commercial roll out to CVS stores and
our strategic agreement with Carrier, Airthings has never been in a better
position to help the world breathe better and make air quality monitoring an
essential element of every building." 

Key Highlights for the second quarter of 2021

- 2Q sales revenue of  NOK68.0M - Up 80% YoY
- 2Q sales gross profit of NOK45.6M - Gross profit margin of 67.1%
- Total ARR reached NOK16.5M by end of 2Q - Up 178% YoY
- Rolling out in more than 3 000 CVS stores - Raising total store count to more
than 5 500
- Contract signed with Carrier Corporation - Significantly increasing the
footprint of Airthings for Business
- Airthings for Business sales revenue up 284% YoY to NOK9.7M - 75% of sales
through the partner network
- View Plus began shipping to customers and backlog is increasing rapidly

A live presentation of the second quarter results will be given by CEO Øyvind
Birkenes and CFO Erik Lundby at 08:00 CET via the following link:

https://events.webcast.no/viewer-registration/tm40SRlY/register. 

A recording of the presentation will also be made available on
airthings.com/investors.

For any questions or interview requests, please contact:

Øyvind 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.