Norse Atlantic ASA Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	700.83	588.11	439.44	104.27	-
Revenue Growth (YoY)	25.20%	33.83%	321.44%	-	-
Cost of Revenue	557.3	502.39	419.07	173.54	5.48
Gross Profit	143.53	85.72	20.37	-69.27	-5.48
Selling, General & Admin	40.23	47.66	37.49	15.63	2.84
Other Operating Expenses	47.36	47.15	34	2.69	-
Operating Expenses	167.57	182.73	155.59	76.83	3.19
Operating Income	-24.04	-97.02	-135.22	-146.1	-8.67
Interest Expense	-39.5	-39.02	-34.98	-24.42	-
Interest & Investment Income	-	-	-	-	0.26
Currency Exchange Gain (Loss)	-0.45	-0.53	-0.53	-4.43	0.83
Other Non Operating Income (Expenses)	1.42	1.49	2.13	0.87	-0.06
EBT Excluding Unusual Items	-62.58	-135.08	-168.6	-174.08	-7.63
Gain (Loss) on Sale of Investments	-	-	-	-0.89	-
Pretax Income	-62.58	-135.08	-168.6	-174.97	-7.63
Income Tax Expense	0.52	0.38	0.14	-	-
Net Income	-63.1	-135.45	-168.75	-174.97	-7.63
Net Income to Common	-63.1	-135.45	-168.75	-174.97	-7.63
Shares Outstanding (Basic)	148	129	67	21	19
Shares Outstanding (Diluted)	148	129	67	21	19
Shares Change (YoY)	26.28%	91.59%	219.90%	8.60%	-
EPS (Basic)	-0.43	-1.05	-2.50	-8.30	-0.39
EPS (Diluted)	-0.43	-1.05	-2.50	-8.30	-0.39
Free Cash Flow	67.07	33.22	-24.52	-83.28	-29.03
Free Cash Flow Per Share	0.45	0.26	-0.36	-3.95	-1.50
Gross Margin	20.48%	14.57%	4.63%	-66.43%	-
Operating Margin	-3.43%	-16.50%	-30.77%	-140.12%	-
Profit Margin	-9.00%	-23.03%	-38.40%	-167.81%	-
Free Cash Flow Margin	9.57%	5.65%	-5.58%	-79.87%	-
EBITDA	-22.73	-95.7	-134.48	-146.04	-8.32
EBITDA Margin	-3.24%	-16.27%	-30.60%	-140.06%	-
D&A For EBITDA	1.31	1.32	0.75	0.07	0.34
EBIT	-24.04	-97.02	-135.22	-146.1	-8.67
EBIT Margin	-3.43%	-16.50%	-30.77%	-140.12%	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.