Q1 2022 Nordic Semiconductor ASA Earnings Call Transcript
Good morning and welcome to our presentation of Q1 2022. My name is Svenn-Tore Larsen and with me, as always, I have my CFO, Pal Elstad.
I will start by summing up some highlights for the quarter. We delivered 28% revenue growth in the quarter, even though delivery capacity continues to be severely impacted by wafer constraints. Gross margin was high at 60%. Pal will discuss this in his part of the presentation. Actually generated a 52% increase in our gross profit, and we ended at $109 million. With this operational leverage we have, this led to more than doubling of EBITDA and we ended at $55 million and EBIT margin of 30% for the quarter.
We expect continued solid performance in the second quarter despite the continued supply challenges, and this is based upon our capacity support plan from our vendors. We expect our revenue and guide for $190 million to $210 million, and our gross margin would be above 54%. And I will reiterate that our long-term outlook stands firm.
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