Nordic Semiconductor ASA (OTCPK:NRSDY)
$ 9.86 0 (0%) Market Cap: 1.76 Bil Enterprise Value: 1.65 Bil PE Ratio: 0 PB Ratio: 3.17 GF Score: 92/100
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Q3 2024 Nordic Semiconductor ASA Earnings Call Transcript

Oct 24, 2024 / 06:00AM GMT
Release Date Price: $9.05

Key Points

Positve
  • Nordic Semiconductor ASA (NDCVF) reported a revenue of $159 million in Q3 2024, marking an 18% increase from the same quarter last year.
  • The company achieved a positive EBITDA of $16 million, indicating improved financial performance.
  • Nordic Semiconductor ASA (NDCVF) maintains a strong market position with a 40% market share in end product certifications.
  • The company is preparing for the commercial launch of the nRF54 Series, which is expected to be a significant growth driver.
  • There is increased design activity and traction in cellular IoT, particularly in industrial asset trackers and smart metering.
Negative
  • Gross margin slipped slightly below 50% in Q3 2024, although it remains around the company's long-term target.
  • The company is experiencing high inventory levels, which increased by $11 million in the quarter.
  • Revenue guidance for Q4 2024 is between $130 million and $150 million, reflecting a typical seasonal decline from Q3.
  • Nordic Semiconductor ASA (NDCVF) is spending more than 26% of revenue on R&D, above their target range of 15% to 20%.
  • The industrial market remains slow, particularly in Europe, affecting overall growth potential.
Operator

Welcome to Nordic Semiconductor Q3 2024 Financial Presentation. (Operator Instructions)

I will now hand it over to Steel. Please begin.

Stale Ytterdal
Nordic Semiconductor ASA - Senior Vice President - Investor Relations & Strategic Sales

Thank you, Keld, and good morning, everyone. This presentation is being recorded and will be available on our Nordic website in the Investor Relations section. You can also find our earnings press release, quarterly report and presentation on the IR web page.

Joining me today are our CEO, Vegard Wollan; and CFO, Pal Elstad. They will be discussing our latest financial results and providing insight into recent business developments.

After the presentation, we will begin the Q&A session. During this time, we will accept live questions via the Q&A dial-in function. For dial-in details, please refer to the earnings call invitation available on our IR site under Stock Exchange Notice. Please note the dial-in information is only necessary if you will ask questions.

As always, the

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