(Copenhagen, 18 August 2021) Napatech A/S ("Napatech", OSE: NAPA) reported
revenues of DKK 46.4 million in the second quarter of 2021 (48.9 million in the
second quarter of 2020), and an EBITDA of DKK 8.6 million (11.8). In USD terms,
the company grew revenues by 4% in the second quarter of 2021. Napatech
reiterates its outlook for 2021.

"Napatech continued to deliver year-over-year USD revenue growth and solid
earnings in the second quarter of the year. Revenue and earnings growth over the
last three first half periods demonstrate the underlying strength and stability
of Napatech's emerging business in a growing market," says Ray Smets, CEO of
Napatech. 

Napatech is a global leader of FPGA-based SmartNICs focused on high-speed
solutions for cloud, mobile, telecom and enterprises with a goal of putting a
SmartNIC in every server requiring faster applications, better networking and
more effective security applications. 

Napatech reported revenues of DKK 46.4 million in the second quarter of 2021
(48.9 million in the second quarter 2020), representing a decrease of 5%, with
an EBITDA of DKK 8.6 million (11.8). In USD terms, the company grew revenues by
4% in the second quarter of 2021 compared to the second quarter of 2020. The net
cash flow from operating activities ended at negative DKK 0.9 million in the
quarter (14.7). In H1 2021, Napatech reported revenues of DKK 93.2 million (DKK
97.4 million in H1 2020), with an EBITDA of DKK 17.4 million (15.7). At the end
of the period, Napatech had cash and cash equivalents of DKK 38.3 million
(69.9). 

"As we embark on the second half of 2021, we are executing on our strategy to
expand our core product revenues with new competitive features, grow new product
revenues with in-line features to access growing cybersecurity market
opportunities, and gain traction in fast-growing virtual use-cases," Smets
concludes.

Napatech reiterates its outlook for 2021: 
- Revenue in the range of DKK 210-230 million
- Gross margin 70-72%
- Staff expenses and other external costs in the range of DKK 125-135 million 
- Staff costs transferred to capitalized development costs DKK 20-25 million 
- Depreciation and amortization in the range of DKK 20-25 million

With performance in the middle of the guided ranges, EBITDAC and EBIT would be
positive DKK 26.2 million. 

For more information, please see the attached report for H1 2021. 

Napatech will host a webcast presentation and a conference call of its
H1 2021 report today at 09:00 (CET). The presentation will be given by Ray Smets
(CEO) and Heine Thorsgaard (CFO). 

The presentation will be delivered by webcast on: 

https://streams.eventcdn.net/napatech/2021-half-yearly-report

The presentation and link to the webcast will also be available on the Napatech
Investor Information section.

Dial-in details for the conference call are:

DK: +45 78 15 01 07 
NO: +47 23 96 39 38 
UK: +44 3333 009 272 
US: +1 631 913 1422 (US PIN: 85911781#) 

EBITDA and other alternative performance measures (APMs) are defined on page 2
in the attached report for H1 2021.

For additional information, please contact:

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

Media inquiries: 
Geir Bjørlo, Corporate Communications AS
Telephone: +47 915 40 000
E-mail: geir.bjorlo@corpcom.no


This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to section 5-12 of the Norwegian Securities Trading Act. This stock exchange
announcement was published by Heine Thorsgaard, CFO, Napatech A/S, on 18 August
2021 at 07:00 CET.