Airthings (AIRX) a global leader in air quality monitoring and energy-saving solutions, today announced its financial results for the fourth quarter of 2020, reporting an all-time high revenue increase of 40% compared to the previous year and a gross profit margin of 68%. The record-breaking revenue marks the end of a strong year for Airthings, with total revenue of NOK216.9 million, which is at the top of the guided range.
“There’s an unprecedented increase in awareness and concern about indoor air quality and how it impacts our health,” says Oyvind Birkenes, CEO of Airthings. “As a result, we see a substantial uptake in demand for both our consumer and business solutions. In the last quarter, Airthings received accolades from global analyst firm Frost & Sullivan and the Consumer Electronics Show both reinforcing our position as the market leader, uniquely placed to empower the world to breathe better through our simple and innovative solutions.”
Key highlights for the fourth quarter of 2020
Strong outlook for 2021
Financial Results
Group total revenue reached NOK84m in the fourth quarter, a 40% increase compared to the previous year. Group EBIT came in at -NOK17.2m. Main highlights include one-time costs of NOK8.7m related to the private placement and subsequent listing on Euronext Growth in addition to increased personnel expenses which is in accordance with planned expansion.
A live presentation of the fourth quarter results will be given by CEO Øyvind Birkenes and CFO Erik Lundby at 08.30 CET via this link.
A recording of the presentation will also be made available on airthings.com/investors.
Airthings is a global leader within indoor air quality solutions for consumers, businesses and professionals. The company's highly innovative solutions resolve global issues related to air quality and air contaminants, while at the same time enabling a reduced CO2 footprint by optimizing energy consumption in buildings. Airthings is led by a team of experienced engineers and technology professionals that together share a common goal: to empower the world to breathe better.