Nordic Semiconductor (NOD) Q1 2026 earnings summary

Executive summary

• Revenue in Q1 2026 increased by 24% year-over-year, reaching USD 192.4 million, driven by growth in both short-range and long-range wireless technologies, new product launches, and strategic acquisitions.

• Gross margin improved to 52.1% from 49.5% a year ago, reflecting favorable product mix and increased cloud services revenue.

• Adjusted EBITDA rose to USD 23.9 million (12.4% margin), with net profit after tax at USD 10.6 million, up from USD 1.1 million a year earlier.

• The company is executing a strategy to expand addressable markets, strengthen its product portfolio, and evolve into a chip-to-cloud wireless solutions provider.

• On track to meet long-term growth targets of over 20% average annual growth through the decade.

Financial highlights

• Q1 2026 revenue: USD 192.4 million, up 24% year-over-year and 14% sequentially; gross profit increased 30.5% to USD 100.3 million.

• Gross margin at 52.1%, up 2.6 percentage points year-over-year.

• Adjusted EBITDA margin improved to 12.4%, with EBITDA at USD 21.3 million.

• Cash and cash equivalents stood at USD 279.7 million at quarter-end.

• Inventory increased to USD 183.7 million to support higher revenue and new product ramps.

Outlook and guidance

• Q2 2026 revenue guidance: USD 200–220 million, implying 22–34% year-over-year growth, with gross margin expected to remain above 50%.

• Long-term ambition to keep gross margins above 50% and progress toward a 25% EBITDA margin.

• Customer orders and forecasts indicate continued revenue growth.