Q2 2025 Pre-close comments

June 30, 2025

Event information

As we approach the release of our Q2 2025 earnings report on Wednesday 13 August 2025, Nordic Semiconductor enters its regular quiet period on 11 July 2025. 

As communicated on 27 March 2025, Nordic Semiconductor has discontinued the practise of hosting pre-close group calls and limits its communication ahead of the quiet period to pre-close comments such as this document. These pre-close comments are being published on the company’s IR web and do not contain inside information.  

Nordic would like to remind analysts and investors about certain publicly known factors from our previous financial reports and earnings calls which might be relevant to consider ahead of the Q2 report:
In the financial report for the first quarter 2025, the company issued a revenue guidance range of USD 145-165 million for Q2 2025 with a gross margin around 50%, Nordic also reiterated its long-term ambition to maintain a gross margin level above 50%.

Nordic Semiconductor reported revenue of USD 155 million in the first quarter 2025, representing a year-on year growth of 108% and an increase of 3% from the previous quarter. The year-on-year revenue increase in first quarter reflected stronger underlying demand from both large key customers and smaller customers in the broad market although the strong increase also reflected that revenue in the first quarter 2024 was significantly impacted by inventory adjustments. The first quarter saw particularly high deliveries to certain large customers.

During Q1 2025, Nordic saw a high level of engagement regarding the newly launched nRF54 series in short-range from both key customers and the broad market, with nRF54 orders coming in from both new and existing customers. Allowing time for design-ins and product ramp Nordic reiterated that it expects limited revenue effect of nRF54 in 2025 and accelerating growth from 2026 onwards.

Nordic also highlighted in its Q1 2025 report that it continued advancing its long-range strategy by showcasing the connectivity capabilities of its nRF9151 SiP module for both cellular (terrestrial) and non-terrestrial (NTN) networks at Mobile World Congress (MWC) 2025. Customer support for NTN will start in the second half of 2025. 

In March, Nordic officially launched the nPM2100 PMIC, a groundbreaking power management solution designed specifically for primary cell-powered Bluetooth Low Energy applications. 
Nordic’s longer-term financial ambition on the Group level is to deliver average annual revenue growth above 20% through the decade, and to move towards its operating model profitability level of ~25% EBITDA margin within five years.