(Oslo, Norway – February 3, 2022) Nordic Semiconductor ASA reported revenue of USD 171.2 million for the fourth quarter 2021, an increase of 35% from the same quarter last year. Revenue growth continues to be capped by limited wafer availability, and the order backlog increased to USD 1,687 million at the end 2021. Gross margin was 58.9%, and the gross profit USD 100.8 million in the fourth quarter. The gross margin was approximately 53% adjusted for effects of price adjustments. EBITDA for the fourth quarter was USD 42.3 million, compared to USD 26.9 million in the fourth quarter 2020.
Bluetooth revenue increased by 39% to USD 136.0 million in the fourth quarter, whereas Proprietary revenue increased 7% to USD 27.2 million. Cellular IoT revenue more than doubled to USD 5.9 million.
For the full year 2021, revenue increased by 51% to USD 611 million, with EBITDA increasing to USD 124.7 million from USD 76.8 million. The EBITDA-margin hence increased to 20.4% in 2021 from 18.9% in 2020.
“We saw strong growth throughout 2021 although our current delivery capabilities are limited by the supply constraints in the semiconductor industry. We see high demand both from tier-1 customers and the broad market and are working hard to support our customers in a challenging supply situation,” says CEO Svenn-Tore Larsen in Nordic Semiconductor.
Indicated wafer allocations allow the company to guide for revenue of USD 170-190 million in the first quarter 2022, with gross margin expected at 53%-54%.
The company expects to be allocated higher wafer volumes for the rest of the year, and to generate revenue in 2022 that keeps the company on track for its 2023 revenue target of USD 1 billion.
The management team will host a webcast presenting the fourth quarter results today at 08:00 CET. The presentation will be held in English. A live webcast of the presentation can be found at www.nordicsemi.com/IR, and a recorded version of the presentation will also be available after the event.
For further information, please contact:
Pål Elstad, CFO Nordic Semiconductor ASA
Phone: +47 991 66 293
Ståle Ytterdal, SVP Investor Relations Nordic Semiconductor ASA
Phone: +47 930 37 430
About Nordic Semiconductor:
Nordic Semiconductor has been a pioneer in ultra- low power wireless solutions, from proprietary technologies for PC accessories to today’s Bluetooth low energy and multiprotocol products and long-range cellular IoT solutions. Nordic Semiconductor is the clear market leader in the ultra-low power wireless segment, serving a growing market in consumer electronics, wearables, building and retail, healthcare and an increasing number of other verticals and applications. Nordic Semiconductor (NOD) is a public company listed on the Oslo stock exchange in Norway.
For more information go to www.nordicsemi.com
This information is subject to the disclosure requirements according to §5-12 in the Norwegian Securities Trading Act.