Huddly (HDLY) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached NOK 48 million, up 7% year-over-year, driven by 108% growth from Strategic partners.

• Gross margin improved to 47% from 44% in Q4 2025, reflecting favorable product and customer mix.

• Major partnerships advanced: Lenovo signed as Strategic partner, Jabra and Barco collaborations progressing toward Q2 2026 shipments.

• Product innovation continued with the launch of Huddly C1 Crew, expanding audio capabilities and Microsoft certification.

Financial highlights

• Revenue: NOK 48.5 million in Q1 2026, up 7% year-over-year.

• Gross margin: 47% in Q1 2026, up from 44% in Q4 2025.

• Operating loss (EBIT): NOK -38.9 million, improved from NOK -47.5 million in Q1 2025.

• Operational cash flow improved to NOK -1 million from NOK -20 million in Q1 2025.

• Ending cash balance: NOK 110.2 million as of March 31, 2026, with NOK 75 million raised in private placement and NOK 11 million in a repair offering.

Outlook and guidance

• Revenue guidance for 2026 is NOK 450–550 million, with a gross margin target of 45%.

• Positive cash flow targeted from H2 2026.

• Revenue expected to increase significantly as new strategic partner offerings roll out.

• DRAM price increases and currency headwinds expected to pressure gross margin in 2026; mitigation via alternative sourcing and pricing adjustments.