Norway · Delayed Price · Currency is NOK Smartoptics Group ASA Earnings Call Transcripts
Fiscal Year 2025
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Q4 2025 delivered record revenue and strong growth, especially in the Americas and Optical Devices, with robust cash flow and stable margins. Supply constraints in the industry are benefiting new account wins, and the outlook remains positive with continued disciplined investments and focus on core markets.
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Q3 revenue grew 46% year-over-year to $19M, led by strong Americas sales and expanding APAC presence. Gross margin improved, EBITDA doubled, and all business areas grew, with new customer segments and AI infrastructure driving future potential.
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Q2 2025 delivered record revenue and growth, led by strong Americas performance and a major hyperscale win. Strategic focus shifts to doubling or tripling market share by 2030, leveraging AI, new geographies, and M&A, while mitigating tariff impacts and maintaining profitability.
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Record Q1 revenue growth of 13.5% was achieved despite major tariff disruptions, with strong results in Americas and APAC and a 24% increase in solutions, software, and services. Tariff risks have largely subsided, and the company remains confident in its $100M revenue ambition for 2025/2026.
Fiscal Year 2024
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Q4 2024 delivered 22% revenue growth, record invoicing, and strong performance in EMEA and APAC, with new products and large accounts driving momentum. Gross margin improved sequentially, and the board proposes a higher dividend. The $100M revenue target remains, but 2025 achievement is unlikely.
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Q3 2024 saw improved business activity, strong order bookings, and a major partnership win, despite a 4.5% revenue decline year-over-year. EMEA and APAC showed growth, while US softness was mainly due to device sales. Management expects further recovery in Q4.
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Q2 2024 saw a 23.5% revenue decline year-over-year due to the absence of large EMEA projects, but gross margin remained strong at 47.3%. High activity and a robust pipeline support optimism for growth in H2 2024, with new products and industry consolidation creating future opportunities.