Nordic Semiconductor (NOD) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue reached $179 million, up 13% year-over-year and at the high end of guidance, with gross margin improving to 52%.

• Strong market position maintained, with growth in both short-range and long-range segments and among key and broad market customers.

• Industrial and healthcare drove year-on-year growth; consumer segment was flat from a strong prior year.

• Integration of Memfault and Neuton.ai acquisitions accelerated cloud service offerings and enabled a complete chip-to-cloud platform.

• Maintained leadership in Bluetooth Low Energy certifications, with a 31% share in Q3 2025.

Financial highlights

• Gross margin improved to 51.9%–52% in Q3, up 2.4 percentage points year-over-year, supported by favorable product mix and cloud service contributions.

• Adjusted EBITDA was $18 million (10.2% margin), excluding $2.6 million in non-cash costs from the Memfault acquisition.

• First nine months revenue rose 38% year-over-year to $498 million; LTM revenue was $648 million.

• Net profit after tax was $0.9 million, down from $6.2 million in Q3 2024, impacted by higher operating expenses and acquisition-related costs.

• Cash and cash equivalents increased to $308.9 million, up 18% from Q3 2024.

Outlook and guidance

• Q4 2025 revenue guidance is $155–$175 million, above Q4 2024's $150 million, with gross margin expected to remain above 50%.

• Full-year 2025 revenue guidance is $653–$673 million.

• Anticipates accelerating revenue from nRF54 series starting in 2026.

• Long-term ambition remains 20%+ average annual growth and 25% EBITDA margin within five years.