Business Summary: Nordic Semiconductor ASA is a Norway-based fabless semiconductor company that specializes in wireless communication technology that powers the Internet of Things (IoT). The Company is engaged in the development of solutions for short-range wireless communication. Nordic Semiconductor ASA has one operating segment. Its technology range includes Bluetooth Low Energy, Advanced and Adaptive Network Technology (ANT+), Thread and Zigbee. Nordic Semiconductor ASA’s solutions are used in a variety of products, including wireless Personal Computer (PC) peripherals, gaming, mobile phone accessories, consumer electronics, healthcare, and automation. The Company has offices across the globe as well as several subsidiaries, such as Nordic Semiconductor Norway AS, Nordic Semiconductor UK Ltd, Nordic Semiconductor Inc and Nordic Semiconductor Poland Sp Zoo.
Financial Summary: BRIEF: For the nine months ended 30 September 2024, Nordic Semiconductor ASA revenues decreased 17% to $361.2M. Net loss applicable to common stockholders totaled $35M vs. income of $20.1M. Revenues reflect Healthcare segment decrease of 53% to $39.5M, Industrial segment decrease of 30% to $68.9M. Net loss reflects Payroll expenses increase of 12% to $126.6M (expense), Net interest income decrease from $3.6M (income) to $214K (expense).