Airthings (AIRX) Q4 2025 earnings summary

Executive summary

• Revenue declined 16% year-over-year to NOK 346m, driven by a 22% drop in the Consumer segment, while Business and Professional segments grew modestly.

• Gross margin improved to 58% from 56% despite US tariffs, but EBITDA loss remained high at NOK 105m, only slightly better than the prior year.

• Major restructuring, including workforce reduction and capital raise of NOK 105m, aimed at improving efficiency and liquidity.

• Delisting from Euronext Oslo Børs completed in February 2026, with a new CEO appointed effective January 2026.

Financial highlights

• Total revenue: NOK 346m in 2025 (down from NOK 414m in 2024).

• Gross profit: NOK 202m (down 13% year-over-year), gross margin up to 58%.

• EBITDA loss: NOK 105m (improved from NOK 107m loss in 2024), impacted by NOK 8m restructuring costs and NOK 4.6m inventory write-offs.

• Net loss: NOK 173m (NOK 172m in 2024).

• Cash flow from operations: NOK -114m (NOK -33m in 2024).

Outlook and guidance

• Focus on profitable growth, further cost reductions, and inventory optimization in 2026.

• All business segments expected to drive revenue growth in 2026, with improved profitability and cash flow anticipated.

• Continued investment in core product offerings and software enhancements.