Huddly (HDLY) Q2 2025 earnings summary

Executive summary

• Achieved third consecutive quarter of year-over-year revenue growth, with Q2 2025 revenue up 45% to NOK 57 million, driven by strong Channel and Strategic Partner sales.

• Gross margin reached 43% in Q2 2025, or 45% excluding one-off items related to product mix and component scrapping.

• Strategic partnerships expanded, including a memorandum of understanding with Barco and continued momentum with Shure; Huddly C1 product on track for first shipment in September.

• Announced a private placement of NOK 50–75 million to fund operations until cash flow positive in 2026, with NOK 50 million guaranteed.

• New strategic partnerships in final negotiations, with potential annual value of NOK 20–40 million.

Financial highlights

• Q2 2025 revenue reached NOK 57 million, a 45% increase year-over-year and 25% sequentially from Q1 2025.

• Gross profit rose 59% year-over-year to NOK 24.2 million in Q2 2025; gross margin improved to 47% for H1 2025.

• Operating expenses decreased 28% year-over-year in Q2 2025 due to cost-saving initiatives.

• EBITDA loss narrowed to NOK -11 million in Q2 2025 from NOK -34.2 million in Q2 2024.

• Cash balance at end of Q2 2025 was NOK 52 million, with operational cash flow improving to NOK -18 million.

Outlook and guidance

• 2025 revenue guidance set at NOK 240–280 million, lowered due to deferment in strategic partner revenue.

• Gross margin target for 2025 is 45%, with 2026–2027 guidance at 45%–50%.

• Ambition to achieve cash flow positive in 2026 and healthy cash generation from 2027.

• Ongoing product launches and strategic partnerships expected to drive medium-term growth.