Norway · Delayed Price · Currency is NOK Napatech Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 delivered 69% year-over-year revenue growth and strong gross margins, driven by core infrastructure demand and new design wins. AI infrastructure is expected to contribute 20% of 2026 revenue, with guidance unchanged and seasonality anticipated.
Fiscal Year 2025
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Revenue grew 48% year-over-year in Q4 2025 and 33% for the full year, with strong gross margins and disciplined cost management. 2026 guidance targets 50% revenue growth, balanced between core and AI infrastructure, and no need for additional capital.
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Q3 2025 saw 25% year-over-year revenue growth, stable 70% gross margin, and improved EBITDA. Strategic partnerships and new AI/cloud products are driving a robust pipeline, with guidance reaffirmed for Q4 and 2026. Risks remain around customer order timing and adoption.
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Q2 2025 saw 43% YoY revenue growth, improved margins, and a strengthened design win pipeline, especially in AI and 5G. Guidance for 2025 and 2026 remains positive, with cost reductions and strong cash position supporting future growth.
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Q1 2025 revenue grew 8% year-over-year with a 70.3% gross margin, driven by major design wins in AI and data center networking. Strong outlook includes doubling unit sales in 2026, a capital increase, and ongoing cost discipline, with advanced NICs positioned for mass market growth.
Fiscal Year 2024
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Revenue grew 11% sequentially in Q4 but fell 22% year-over-year, with adjusted gross margin at 75%. Guidance for 2025 anticipates ~30% growth in existing business, stable gross margins, and high-volume design wins moving to production in 2026.
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Q3 revenue rose 47% sequentially to $5M, with gross margin at 71.3%, but year-over-year revenue fell 31%. Design win pipeline exceeds 200 opportunities, with high-volume production expected in 2026. OEM inventory reductions continue to impact results.
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H1 2024 saw key strategic milestones and new design wins, but revenue declined 40% year-over-year due to legacy customer inventory corrections and macro headwinds. Despite weak sales, the company remains fully funded, maintains gross margin guidance, and expects significant growth from new partnerships and product launches.