Huddly (HDLY) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue reached NOK 45 million, up 75% year-over-year, with NOK 147 million year-to-date, reflecting 50% annual growth.

• Gross margin for Q3 2025 was 45%, up from 43% in Q2, and 47% year-to-date, within the 45%-50% business plan range.

• Strategic partner revenue drove growth, highlighted by a new partnership with Jabra and continued expansion with Shure and Barco, as well as the launch of the AI-driven Huddly C1 videobar.

• Huddly C1 videobar began shipping, with major customer adoption including British Telecom, and Crew product enhancements were announced.

• Market uncertainty, especially in North America, is impacting channel business due to factors like government shutdowns and delayed federal budgets, but Asia-Pacific opportunities are being pursued.

Financial highlights

• Q3 2025 revenue: NOK 45.1 million (75% YoY growth); YTD: NOK 147.1 million (50% YoY growth).

• Q3 2025 gross profit: NOK 20.5 million (up 97% YoY); YTD gross profit: NOK 68.5 million (up 65% YoY).

• Operating expenses reduced by 12% YoY in Q3 2025, supporting improved operational efficiency.

• EBITDA loss narrowed to NOK 16.0 million in Q3 2025 from NOK 31.1 million YoY.

• Cash and cash equivalents at quarter-end: NOK 84.9 million, up NOK 33.1 million from Q2 2025.

Outlook and guidance

• Growth momentum expected to continue with new and existing strategic partners and additional partnerships in the pipeline, especially in Asia-Pacific.

• Board maintains no plans for further capital raises, expecting to reach cash flow positive in 2026.

• Market uncertainty in North America may continue to impact short-term results, but long-term outlook remains positive, supported by hybrid collaboration trends.