Q1 2020 Nordic Semiconductor ASA Earnings Call Transcript
Welcome to Nordic Semiconductor. It's a time for Q1 2020 presentation of our financial numbers. As you see here, we are in an extraordinary situation now. So we're doing our presentation from the office on webcast only. But the picture in front here is not extraordinary. I think it's very common today. And Nordic has also moved most of our people back home, and I will come back to that later on.
We delivered a solid Q1. It was in the high end of our revenue and even gross margins were above. Our revenue came in at $70.2 million. It's up 33.5% year-on-year. Our gross margin also increased 0.9% year-on-year, up to 51.9%. Strong gross margin. Bluetooth revenue ended at $51.2 million, up 37.1%. Proprietary revenue at $15.4 million, up 23.4%, driven very much by all the home offices that was created through last quarter. For the first time, we got a meaningful revenue from Cellular IoT, $1.1 million it ended at. And the gross margin was mainly driven by cost reduction and also because of the mix of components. We sold more of the high
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