Nordic Semiconductor ASA (OTCPK:NDCVF)
$ 13.3 0 (0%) Market Cap: 2.59 Bil Enterprise Value: 2.49 Bil PE Ratio: 0 PB Ratio: 4.57 GF Score: 89/100
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Q2 2024 Nordic Semiconductor ASA Earnings Call Transcript

Aug 8, 2024 / 06:00 AM GMT
Release Date Price: $12.82 (+7.96%)

Key Points

Positve
  • Revenue for Q2 2024 amounted to $128 million, marking a significant 70% increase from Q1.
  • Adjusted gross margin for Q2 was 50%, in line with guidance.
  • Guidance for Q3 2024 projects revenue between $150 million to $170 million, indicating a year-on-year growth for the first time since 2022.
  • Nordic Semiconductor ASA (NDCVF) has maintained a strong market share of around 40% for Bluetooth Low Energy end-product certifications.
  • The company is progressing with strategic changes to enhance engineering execution and strengthen monitoring and accountability.
Negative
  • Year-over-year revenue declined by 17% from $154 million in Q2 2023 to $127.9 million in Q2 2024.
  • A $10 million write-down of long-range components impacted the gross margin, reducing it to 42% for Q2.
  • Reported EBITDA for Q2 showed a loss of $7 million.
  • Sales to top 10 customers have declined through 2023 and into 2024.
  • The healthcare market saw a significant year-on-year decline of 57%, despite strong sequential growth.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NOD.OL - Nordic Semiconductor ASA
Q2 2024 Nordic Semiconductor ASA Earnings Call
Aug 08, 2024 / 06:00AM GMT

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Conference Call Participants
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* Ståle Ytterdal
* Vegard Wollan
* PÃ¥l Elstad
* Christoffer Bjørnsen
* Harry Blaiklock
* Olivia Honychurch
* Robert Sanders
* Ãystein Lodgaard
* Kristian Spetalen
* Sébastien Sztabowicz

=====================
Presentation
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Operator [1]
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Good morning, everyone, and welcome to this Nordic Semiconductor Conference Call. Today's call is being recorded. For the first part of this call, all participants will be in a listen-only mode. Afterwards, there'll be a question-and-answer session. [Operator Instructions] I would now like to hand the word over to Steel from IR. Steel, please go ahead.

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