(Oslo, Norway - August 8, 2024) Nordic Semiconductor ASA reported revenue of USD
128 million for the second quarter 2024, a decline of 17% from the second
quarter last year and a sharp increase of 72% from the previous quarter. Gross
margin was 42% including a write-down of USD 10 million of Long-range
components, and 50% when adjusted for the write-down. Reported EBITDA showed a
loss of USD 7 million for the second quarter and a positive USD 3 million when
adjusted for the write-down.
 
For the first half year 2024, revenue decreased by 32% to USD 202 million.
Reported EBITDA declined from USD 43 million in the first half 2023 to a loss of
USD 30 million in the first half 2024. 

The sequential revenue improvement in the second quarter reflects both
increasing underlying demand and seasonality, as well as less adverse effects of
distributor inventory adjustments. Going forward, the company expects revenue of
USD 150-170 million in the third quarter, which historically is the seasonally
strongest quarter of the year.
 
-We are progressing to plan in a stabilizing market, and our guidance for the
third quarter marks the return to year-on-year revenue growth. This reflects
improving underlying demand among key customers as well as in the broad market,
and it is good to see design activity picking up across our customer base, says
CEO Vegard Wollan in Nordic Semiconductor.
   
The third quarter revenue guidance corresponds with a year-on-year revenue
increase of 11%-26% compared to the third quarter last year, and a sequential
increase of 17%-33% from the second quarter 2024.

Nordic expects a gross margin of around 50% for the third quarter, in line with
the adjusted gross margin for the second quarter, and the company reiterates its
long-term ambition to maintain a gross margin level above 50%. 

The company will present its strategy and longer-term ambitions in more detail
on a Capital Markets Day in Oslo on September 26, 2024.

Practical arrangements

CFO Pål Elstad and CEO Vegard Wollan will host a webcast presenting the second
quarter 2024 results today at 08:00 CEST. The presentation will be held in
English and can be followed live via webcast on the IR pages at
www.nordicsemi.com, with a recorded version being made available after
conclusion of the presentation. The virtual audience will be given the
opportunity to ask questions through a Q&A dial-in function.     

Please see call-in details below if you want to join the conference by
telephone. 

PIN Code for all countries: 286203 
NO: +47 2195 6342 
UK: +44 203 769 6819 
US: +1 646 787 0157 
DK: +45 7876 8490 
SE: +46 8 1241 0952 
DE: +49 30 2178 9327 
FR: +33 1 8122 1259

For further information, please contact:

Pål Elstad, CFO / EVP Finance - Nordic Semiconductor ASA
Phone: +47 991 66 293

Ståle Ytterdal, SVP IR - Nordic Semiconductor ASA
Phone: +47 930 37 430

About Nordic Semiconductor: 

Nordic Semiconductor has been a pioneer in ultra-low power wireless solutions,
from proprietary technologies for PC accessories to today's Bluetooth low energy
and multiprotocol products and long-range cellular IoT solutions. Nordic
Semiconductor is the clear market leader in the ultra-low power wireless
segment, serving a growing market in consumer electronics, wearables, building
and retail, healthcare and an increasing number of other verticals and
applications. Nordic Semiconductor (NOD) is a public company listed on the Oslo
stock exchange in Norway. 

For more information, go to www.nordicsemi.com 

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 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Kine-Elena Reigstad, VP
International Finance, Nordic Semiconductor ASA, on August 8, 2024, at 07:00
CEST.