Due to supply chain impacts and customer deferrals, certain deliveries planned
for 4Q21, at the end of the quarter, were delayed into 2022.  

Napatech is updating its 2021 annual revenue guidance to a range of DKK 192-196
million, down from DKK 210-230 million. 
 
Total demand was strong in 4Q21. The order intake in 4Q21 was USD 12.9 million
up 42% compared to 4Q20. The order backlog at the end of 4Q21 was at a record
level of USD 7.9 million, up from USD 2.4 million at the end of 4Q20.  However,
the supply chain impacts and customer deferrals limited Napatech's ability to
turn more orders into revenue, and the guidance for 2021 has been adjusted to
reflect this.

Despite 4Q21 results are lower than we aspired, the company remains committed
and optimistic about the market potential in 2022 and beyond. When Napatech
fully reports 4Q21 results scheduled on February 24, the company expects to
publish FY2022 revenue guidance in the range of USD USD 37-41 million.

The adjusted outlook for 2021 is: 
- Revenue in the range of DKK 192-196 million (previous DKK 210-230 million)
- Gross margin 70-72% (unchanged)
- Staff expenses & Other external costs in the range of DKK 125-135 million
(unchanged) 
- Staff costs transferred to capitalized development costs in the range of DKK
20-25 million (unchanged)
- Depreciation and amortization in the range of DKK 20-25 million (unchanged)


For more information, please contact:

Heine Thorsgaard, CFO
Phone: +45 4596 1500
E-mail: htg@napatech.com