Nordic Semiconductor (NOD) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue reached $164 million, up 28% year-on-year, with gross margin at 51% and EBITDA of $21 million, reflecting strong demand, competitive positioning, and broad-based market recovery.

• Net profit was $10.1 million in Q2 2025, marking a significant turnaround from prior year losses.

• Strategic acquisitions, including Memfault and Neuton.AI, reinforced the shift toward chip-to-cloud and edge AI solutions.

• Recognized for sustainability, ranking highly in Financial Times and TIME's 2025 lists.

• Maintained strong market position with 29%–32% share of new Bluetooth LE design certifications and continued product innovation.

Financial highlights

• Q2 2025 revenue: $164 million (+28% YoY); gross margin: 51%; EBITDA: $21 million (12.7% margin); net profit: $10.1 million.

• Consumer revenue: $100.3 million (+15% YoY); industrial and healthcare: $59.2 million (+60% YoY); other segment: $4.1 million (+39% YoY).

• Long-range (cellular IoT) revenue doubled year-on-year to $7.5 million, now 5% of total revenue.

• Cash flow from operations: $46.9 million in Q2; cash and equivalents at period end: $335.5 million.

• Net working capital/revenue at 22.7%–23%, with inventories down and strong collections.

Outlook and guidance

• Q3 2025 revenue guidance: $165 million–$185 million, up 4%–17% year-on-year and 1%–13% sequentially.

• Gross margin expected to remain around 50% in Q3.

• Limited revenue impact from new products in 2025; meaningful acceleration expected from 2026.

• Long-term ambition: average annual revenue growth above 20% and EBITDA margin target of ~25% within five years.

• Ongoing investments in R&D and increased OpEx from acquisitions, with a target of flat OpEx for 2025.