Nordic Semiconductor (NOD) Q3 2026 earnings summary

Executive summary

• Record Q3 revenue of USD 235.5m, up 31.6% YoY and 8% QoQ; 9M revenue rose 29.8% to USD 646.5m.

• Adjusted EBITDA reached USD 39.8m, or 16.9% of revenue, versus USD 18.3m and 10.2% a year earlier.

• Broad-based demand supported growth across technologies and end markets; priorities include scaling nRF54, expanding long-range markets, and growing AI tools and lifecycle services.

Financial highlights

• Q3 gross profit was USD 124.4m, up 33.9% YoY; gross margin was 52.8%, versus 51.9% a year earlier.

• Adjusted EBITDA was USD 39.8m (16.9% margin), versus USD 18.3m (10.2%) in Q3 2025; adjustment excludes acquisition-related share-based compensation.

• EBIT was USD 27.3m versus USD 4.4m; net profit was USD 26.9m versus USD 0.9m.

• 9M reported EBITDA rose 82.5% to USD 93.5m and adjusted EBITDA rose 85.7% to USD 99.9m.

• Cash operating expenses were USD 87m, up 17% YoY; cash payroll was USD 59.5m and other cash operating expenses were USD 27.8m.

Outlook and guidance

• Q4 revenue guidance is USD 215m–235m, implying 27%–39% YoY growth and a 9% decline to flat QoQ.

• Q4 gross margin is expected to remain above 50%; FY 2026 midpoint implies 31% revenue growth and gross margin at or above 52%.

• Long-term ambitions include average annual revenue growth above 20% through decade-end, gross margin above 50%, and progress toward a 25% EBITDA margin.

• nRF71 Series Wi-Fi remains expected toward end-2026; nRF9251 broad availability is expected in H2 2027.