Aankondiging • Jan 17
Airthings ASA Announces Resignation of CFO Helge Øien, Effective June 2026 Airthings ASA announced that CFO Helge Øien has decided to step down from his position to take on a new position in another company. A recruitment process to find a new CFO will be initiated and Øien will continue in the role until June 2026. New Risk • Jan 07
New major risk - Revenue and earnings growth Earnings have declined by 30% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (36% average weekly change). Earnings have declined by 30% per year over the past 5 years. Shareholders have been substantially diluted in the past year (405% increase in shares outstanding). Minor Risk Market cap is less than US$100m (kr109.4m market cap, or US$10.9m). Aankondiging • Dec 31
Airthings ASA, Annual General Meeting, Apr 28, 2026 Airthings ASA, Annual General Meeting, Apr 28, 2026. Aankondiging • Dec 24
Airthings ASA has completed a Follow-on Equity Offering in the amount of NOK 25 million. Airthings ASA has completed a Follow-on Equity Offering in the amount of NOK 25 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 250,000,000
Price\Range: NOK 0.1
Transaction Features: Regulation S; Rights Offering New Risk • Nov 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: kr100.9m (US$9.85m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Shareholders have been substantially diluted in the past year (405% increase in shares outstanding). Market cap is less than US$10m (kr100.9m market cap, or US$9.85m). Board Change • Nov 11
No independent directors There are 7 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 7 new directors. No experienced directors. 1 highly experienced director. No independent directors (7 non-independent directors). Chairman of the Board Geir Forre is the most experienced director on the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. New Risk • Jul 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$7.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$7.1m free cash flow). Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$2.8m net loss next year). Market cap is less than US$100m (kr149.9m market cap, or US$14.7m). Board Change • Jul 17
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Elisabeth Barrie was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. New Risk • Jul 14
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risks Less than 1 year of cash runway based on current free cash flow (-US$7.1m). Currently unprofitable and not forecast to become profitable next year (US$2.8m net loss next year). Market cap is less than US$100m (kr147.9m market cap, or US$14.6m). Aankondiging • May 30
Airthings ASA Provides Revenue Guidance for the Second Quarter of 2025 Airthings ASA provided revenue guidance for the second quarter of 2025. The company current outlook indicates revenues in the range of USD 7.0 - 9.0 million in the second quarter 2025. New Risk • May 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -US$7.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-US$7.1m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable next year (US$5.6m net loss next year). Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (kr229.2m market cap, or US$22.6m). Major Estimate Revision • May 08
Consensus EPS estimates upgraded to US$0.015 loss, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from US$49.7m to US$45.9m. 2025 losses expected to reduce from -US$0.033 to -US$0.015 per share. Electronic industry in Norway expected to see average net income growth of 54% next year. Consensus price target of kr2.55 unchanged from last update. Share price fell 3.6% to kr1.32 over the past week. New Risk • May 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Norwegian stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (12% average weekly change). Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$5.3m net loss in 2 years). Market cap is less than US$100m (kr273.0m market cap, or US$26.1m). Aankondiging • Apr 29
Airthings ASA to Report Fiscal Year 2025 Final Results on Mar 25, 2026 Airthings ASA announced that they will report fiscal year 2025 final results on Mar 25, 2026 Reported Earnings • Mar 28
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: US$0.089 loss per share (further deteriorated from US$0.032 loss in FY 2023). Revenue: US$38.5m (up 5.2% from FY 2023). Net loss: US$17.7m (loss widened 183% from FY 2023). Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Electronic industry in Norway. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 41% per year, which means it is significantly lagging earnings. New Risk • Feb 13
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$18m Forecast net loss in 2 years: US$199k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$199k net loss in 2 years). Market cap is less than US$100m (kr407.4m market cap, or US$36.1m). Major Estimate Revision • Feb 13
Consensus EPS estimates have been downgraded. The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$47.3m to US$46.1m. Losses expected to increase from US$0 per share to US$0.03. Electronic industry in Norway expected to see average net income growth of 37% next year. Consensus price target down from kr2.87 to kr2.63. Share price fell 6.8% to kr2.04 over the past week. Reported Earnings • Feb 07
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: US$0.09 loss per share (further deteriorated from US$0.032 loss in FY 2023). Revenue: US$38.5m (up 5.2% from FY 2023). Net loss: US$17.7m (loss widened 183% from FY 2023). Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Norway. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Major Estimate Revision • Jan 30
Consensus EPS estimates fall by 17%, revenue upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast increased from US$38.8m to US$39.4m. Forecast EPS reduced from -US$0.019 to -US$0.022 per share. Electronic industry in Norway expected to see average net income growth of 77% next year. Consensus price target of kr2.87 unchanged from last update. Share price rose 13% to kr2.54 over the past week. Aankondiging • Jan 08
Airthings Announces Next-Generation Digital Radon Detector to Meet Growing Demand Airthings ASA launched Corentium Home 2, the next generation of its market-leading digital radon detector. This new device is an all-new, smarter version of its favorite Corentium Home, the most trusted digital radon detector in the world. Upcoming app features will provide people with easy access to radon levels in their homes as well as advice on how to reduce risk. CES attendees can preview Corentium Home 2 and the upcoming user experience in person at Airthings Booth #54203 at the Venetian Expo in Las Vegas from January 7-10. Radon is a leading cause of lung cancer for nonsmokers and is responsible for more than 21,000 deaths every year in the United States alone. Although public awareness of radon-related risks has increased in recent years, three out of four Americans have never tested their home for radon, according to an SSRS survey. Aankondiging • Jan 06
Airthings ASA Announces Employee Representatives to the Board of Directors Elections Airthings ASA has carried out an election for employee representatives to the Board of Directors. The following employee representatives have been elected. Employee representatives: Laoise Balance, Product Manager (new) and Tore Havsø Sæstad, Head of Software Platform (new). Deputy employee representatives: Anlaug Underdal, Head of Software Product Engineering and David Karlsson, Lead Software Architect in R&D. The term of office for the new employee representatives starts immediately. Aankondiging • Jan 01
Airthings ASA, Annual General Meeting, May 28, 2025 Airthings ASA, Annual General Meeting, May 28, 2025. New Risk • Nov 11
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$6.1m Forecast net loss in 2 years: US$170k This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$170k net loss in 2 years). Share price has been volatile over the past 3 months (8.0% average weekly change). Market cap is less than US$100m (kr553.7m market cap, or US$50.1m). Reported Earnings • Oct 25
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: US$0.01 loss per share (further deteriorated from US$0.002 loss in 3Q 2023). Revenue: US$9.96m (down 1.2% from 3Q 2023). Net loss: US$1.75m (loss widened 295% from 3Q 2023). Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Norway. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Major Estimate Revision • Oct 23
Consensus revenue estimates decrease by 12%, EPS upgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$45.7m to US$40.0m. EPS estimate increased from -US$0.0083 to -US$0.0057 per share. Electronic industry in Norway expected to see average net income growth of 39% next year. Consensus price target down from kr3.80 to kr3.20. Share price fell 4.6% to kr2.29 over the past week. Price Target Changed • Oct 23
Price target decreased by 19% to kr3.20 Down from kr3.95, the current price target is an average from 2 analysts. New target price is 40% above last closing price of kr2.29. Stock is down 23% over the past year. The company is forecast to post a net loss per share of US$0.0057 next year compared to a net loss per share of US$0.032 last year. Reported Earnings • Aug 22
Second quarter 2024 earnings released: US$0.01 loss per share (vs US$0.011 loss in 2Q 2023) Second quarter 2024 results: US$0.01 loss per share (improved from US$0.011 loss in 2Q 2023). Revenue: US$8.73m (up 17% from 2Q 2023). Net loss: US$2.06m (loss narrowed 6.9% from 2Q 2023). Revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 13% growth forecast for the Electronic industry in Norway. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Board Change • Jul 11
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Karin Berg was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • May 17
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next year. Trailing 12-month net loss: US$5.0m Forecast net loss in 1 year: US$1.3m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable next year (US$1.3m net loss next year). Market cap is less than US$100m (kr593.3m market cap, or US$55.3m). Aankondiging • May 16
Airthings ASA Provides Revenue Guidance for the Second Quarter of 2024 Airthings ASA provided revenue guidance for the second quarter of 2024. for the quarter, the company expects revenue of USD 8.0 million to USD 10.0 million. Reported Earnings • Mar 21
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: US$0.032 loss per share (improved from US$0.061 loss in FY 2022). Revenue: US$36.6m (up 3.3% from FY 2022). Net loss: US$6.26m (loss narrowed 41% from FY 2022). Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) exceeded analyst estimates by 3.2%. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Norway. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 37% per year, which means it is performing significantly worse than earnings. Aankondiging • Mar 05
Airthings Appoints Emma Tryti as Chief Executive Officer Airthings announced that Emma Tryti will start as the new Chief Executive Officer effective March 4, 2024. Tryti is a widely respected leader in the Norwegian financial industry, with experience as the former Chief Commercial Officer eCommerce and Invoice at Vipps and as Chief Executive Officer of Kron. Emma knows the company well from her tenure as a Board member over the past two years. Reported Earnings • Feb 11
Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2023 results: US$0.032 loss per share (improved from US$0.061 loss in FY 2022). Revenue: US$36.6m (up 3.3% from FY 2022). Net loss: US$6.26m (loss narrowed 41% from FY 2022). Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) exceeded analyst estimates by 3.2%. Revenue is forecast to grow 27% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Electronic industry in Norway. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 39% per year, which means it is performing significantly worse than earnings. Aankondiging • Jan 10
Airthings Launch the Airthings Renew Air Purifier At Ces 2024 Airthings ASA announced the launch of Airthings Renew– the company’s first smart air purifier. By syncing with the Airthings app, users can both view air quality trends and cleanse the indoor air at home or in the office from anywhere, giving them greater control over the air they breathe. At the CES 2024 in Las Vegas this week, Airthings is also introducing the new Wave Enhance, a new compact and battery-operated indoor air quality monitor that is ideal for bedrooms and home offices, where restful sleep and the ability to focus are essential. The Wave Enhance features five indoor air quality sensors, including a high-precision CO2 sensor and sensors for airborne chemicals (VOCs), temperature, humidity, and air pressure. Recent Insider Transactions • Nov 24
CEO & Director recently bought kr987k worth of stock On the 21st of November, Emma Tryti bought around 340k shares on-market at roughly kr2.90 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Emma's only on-market trade for the last 12 months. Recent Insider Transactions • Nov 20
Chairman of the Board recently bought kr429k worth of stock On the 15th of November, Geir Forre bought around 150k shares on-market at roughly kr2.86 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Geir has been a buyer over the last 12 months, purchasing a net total of kr2.1m worth in shares. Aankondiging • Nov 10
Airthings ASA Appoints Emma Tryti as Next Chief Executive Officer Airthings ASA announced the appointment of Emma Tryti as its next Chief Executive Officer. Tryti has been a member of Airthings’ board since 2021. She is a widely respected leader in the Norwegian fintech industry, with experience as former Chief Commercial Officer eCommerce and Invoice at Vipps and as Chief Executive Officer of Kron, a market-leading investment app in the Norwegian consumer market acquired by Storebrand in 2022. Among other things, Tryti also has experience from private equity transactions at Danske Bank Loan Capital Markets. Birkenes has led the company from a startup to become a leading brand in consumer and business markets, growing the revenue from $1.5M in 2015 to over $35M in 2022 where more than 70% of the revenue comes from North America. Airthings has established its B2C footprint sales with giants like Amazon and Home Depot and forged robust B2B alliances with large enterprises. The company became publicly traded in 2020. Major Estimate Revision • Nov 02
Consensus EPS estimates fall by 11%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from US$34.5m to US$36.4m. Forecast EPS reduced from -US$0.027 to -US$0.03 per share. Electronic industry in Norway expected to see average net income growth of 22% next year. Consensus price target of kr3.95 unchanged from last update. Share price fell 11% to kr2.62 over the past week. Aankondiging • Oct 31
Airthings ASA Announces Executive Changes Airthings ASA announced that Jeremy Gerst has decided to ep down as CFO in Airthings ASASA to take on a new position in another company. Magnus Navdal Bekkelund, VP Finance, who has previously held the role of interim CFO and knows the Company well will take over as Interim CFO until a new, permanent CFO is hired. Reported Earnings • Oct 28
Third quarter 2023 earnings released: US$0.001 loss per share (vs US$0.002 profit in 3Q 2022) Third quarter 2023 results: US$0.001 loss per share (down from US$0.002 profit in 3Q 2022). Revenue: US$10.1m (flat on 3Q 2022). Net loss: US$444.0k (down 267% from profit in 3Q 2022). Revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Electronic industry in Norway. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has fallen by 34% per year, which means it is performing significantly worse than earnings. Recent Insider Transactions • Aug 31
Chairman of the Board recently bought kr877k worth of stock On the 28th of August, Geir Forre bought around 300k shares on-market at roughly kr2.92 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Geir has been a buyer over the last 12 months, purchasing a net total of kr5.5m worth in shares. Major Estimate Revision • Jul 20
Consensus EPS estimates upgraded to US$0.028 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -US$0.044 to -US$0.028 per share. Revenue forecast steady at US$40.4m. Electronic industry in Norway expected to see average net income growth of 23% next year. Consensus price target of kr3.85 unchanged from last update. Share price rose 27% to kr3.26 over the past week. Reported Earnings • Jul 16
Second quarter 2023 earnings released: US$0.01 loss per share (vs US$0.026 loss in 2Q 2022) Second quarter 2023 results: US$0.01 loss per share (improved from US$0.026 loss in 2Q 2022). Revenue: US$7.46m (up 8.8% from 2Q 2022). Net loss: US$2.21m (loss narrowed 50% from 2Q 2022). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electronic industry in Norway. Aankondiging • Jul 14
Airthings ASA Provides Revenue Guidance for the Third Quarter of 2023 Airthings ASA provided revenue guidance for the third quarter of 2023. For the third quarter 2023, the company expected revenue within the range of USD 9.0 - 12.0 million, with ARR of USD 4.1 - 4.4 million expected at the end of third quarter of 2023. Recent Insider Transactions • Jun 20
Chairman of the Board recently bought kr754k worth of stock On the 13th of June, Geir Forre bought around 300k shares on-market at roughly kr2.51 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr1.2m. Geir has been a buyer over the last 12 months, purchasing a net total of kr8.7m worth in shares. Recent Insider Transactions • May 28
Chairman of the Board recently bought kr712k worth of stock On the 23rd of May, Geir Forre bought around 300k shares on-market at roughly kr2.37 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Geir has been a buyer over the last 12 months, purchasing a net total of kr6.0m worth in shares. Major Estimate Revision • May 19
Consensus EPS estimates upgraded to US$0.04 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -US$0.049 to -US$0.04 per share. Revenue forecast steady at US$37.2m. Electronic industry in Norway expected to see average net income growth of 28% next year. Consensus price target broadly unchanged at kr3.80. Share price rose 12% to kr2.46 over the past week. Aankondiging • May 17
Airthings ASA Unveils Its Newest App At the Facilities Show in London, the Airthings Business App Airthings ASA unveiled its newest app at the Facilities Show in London, the Airthings Business app. Airthings' new app allows access to real-time and historical data, allowing building managers to monitor the energy efficiency and health of their buildings directly through their smartphone. It also expedites air quality monitor installation by simply scanning an Airthings device and snapping it to the wall, making it the fastest way for facility managers to take control of their building's air quality. Those attending th Facilities Show at the ExCel London from May 16-18th can experience the new app in person Airthings Booth #FM3620. The Airthings Business app simplifies the deployment process of Airthings' industry-leading sensors for offices, schools, and commercial spaces, allowing for a faster and more seamless installation of the wireless, battery-operated indoor air quality monitors in any building. By streamlining the process, building owners, managers, and energy efficiency consultants can easily access the crucial data they need to develop a blueprint to optimize building operations, reduce energy consumption, and enhance occupant health and well-being. Buildings use 40% of the world's energy, and 30% of that comes from heating, ventilation, cooling, and lighting. By cutting down installation time and optimizing the process to ensure that all monitors maximize their effectiveness, managers can spend less time on installation and get a head start on their cost savings. In addition to supporting ultra-fast and easy sensor installation in any type of building, Airthings' new app will provide users with real-time air quality data that they can access anytime, making it the perfect companion to the Airthings for Business Dashboard. Key data points for facility managers such as temperature, CO2, humidity, PM, radon, light, and noise; will now be readily available for anyone in the building to access immediately in the palm of their hand. The new Airthings Business app is available to download on the App Store and Google Play Store and can be accessed at no additional cost by anyone with an Airthings for Business account. Reported Earnings • May 05
First quarter 2023 earnings released: US$0.01 loss per share (vs US$0.018 loss in 1Q 2022) First quarter 2023 results: US$0.01 loss per share (improved from US$0.018 loss in 1Q 2022). Revenue: US$8.75m (down 3.4% from 1Q 2022). Net loss: US$2.08m (loss narrowed 34% from 1Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electronic industry in Norway. Major Estimate Revision • Apr 27
Consensus revenue estimates fall by 28% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$48.2m to US$34.9m. Forecast losses increased from -US$0.028 to -US$0.049 per share. Electronic industry in Norway expected to see average net income growth of 19% next year. Consensus price target down from kr9.50 to kr7.50. Share price fell 3.7% to kr2.50 over the past week. Major Estimate Revision • Apr 26
Consensus revenue estimates fall by 28% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$48.2m to US$34.9m. Forecast losses increased from -US$0.028 to -US$0.049 per share. Electronic industry in Norway expected to see average net income growth of 19% next year. Consensus price target down from kr9.50 to kr7.50. Share price fell 6.0% to kr2.52 over the past week. Price Target Changed • Apr 25
Price target decreased by 23% to kr7.50 Down from kr9.80, the current price target is an average from 2 analysts. New target price is 204% above last closing price of kr2.47. Stock is down 66% over the past year. The company is forecast to post a net loss per share of US$0.029 next year compared to a net loss per share of US$0.061 last year. Major Estimate Revision • Apr 02
Consensus revenue estimates decrease by 12% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from US$56.2m to US$49.3m. EPS estimate unchanged from -US$0.029 per share at last update. Electronic industry in Norway expected to see average net income growth of 19% next year. Consensus price target of kr9.50 unchanged from last update. Share price was steady at kr2.95 over the past week. Recent Insider Transactions • Feb 15
Insider recently bought kr102k worth of stock On the 10th of February, Anders Follerås bought around 32k shares on-market at roughly kr3.18 per share. This transaction amounted to 7.8% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr1.6m. Insiders have collectively bought kr9.8m more in shares than they have sold in the last 12 months. Aankondiging • Feb 15
Airthings ASA announced that it has received NOK 75 million in funding Airthings ASA announced an accelerated book-built offer for the private placement of 23,437,500 common shares at an issue price of NOK 3.20 per share for gross proceeds of NODK 75,000,000 on February 13, 2023. Completion of the private placement is subject to approval by an extraordinary general meeting of the company, expected to be held on or about March 9 2023. Aankondiging • Feb 11
Airthings ASA Provides Revenue Guidance for the First Quarter of 2023 Airthings ASA provided revenue guidance for the first quarter of 2023. For the first quarter 2023 the company expected revenue to fall within a wide revenue range of USD 8.5 million to USD 11.5 million, with ARR of USD 3.7 million to USD 4.0 million. Aankondiging • Feb 07
Airthings Launches New Energy Efficiency Toolkit for Facility Managers at AHR 2023 Airthings has officially announced the launch of a dynamic, new feature at the 2023 AHR Expo, perfect for HVAC pros: the Energy Efficiency Toolkit. Expanding Airthings' focus on using air quality data to balance health and energy-efficiency in any building, the dashboard feature provides customers with the data they need to identify unnecessary energy expenditure. AHR attendees, such as facility managers, HVAC industry professionals, building administrators, and any "fans" of good ventilation can check out the new software feature in the Airthings for Business Dashboard and meet the Airthings team in-person from February 6-8, 2023 at Building C, Level 1, Booth #C5952. Unnecessary heating and cooling is a massive source of wasted energy, especially in the hours when people are not present in buildings - not cool! In fact, buildings use 40% of the world's energy, and 30% of that comes from heating, ventilation, cooling and lighting. Airthings' Energy Efficiency Toolkit helps customers significantly reduce energy waste on ventilation, cooling, heating and lighting by providing them with actionable data & insights that can point to when and where HVAC systems are being overused. An optimized HVAC schedule is created by analyzing the aggregated air quality data gathered through Airthings' wireless sensors for every building in the customer's portfolio. Making adjustments to match the schedule results in a big reduction of energy consumption. Airthings' efforts to help customers save on their energy consumption and reduce costs are also driven heavily by the company's sustainability mission. In addition to utilizing circular principles to ensure responsible manufacturing and using high-quality components and materials to ensure long-term shelf lives, Airthings also aligns with the Sustainable Development Goals (SDGs) using them as a framework for its ESG actions. Aankondiging • Jan 05
Airthings ASA Kicks Off CES 2023 with Launch of Brand New App for Its Indoor Air Quality Monitors Airthings, ASA is kicking off CES 2023 by launching its new Airthings app a the air quality in whole home. As the leaders in smart indoor air quality monitoring, Airthings seeks to provide data-rich insights and personalized, actionable advice to its customers with its technology, ultimately helping them achieve peace of mind. The new Airthings app is the vehicle through which this can be accomplished, with an initial rollout during CES and many new features slated to be introduced throughout 2023 and beyond. Those attending CES 2023 will be able to experience the new app in person at Airthings Booth #8937, located in the North Hall of the Las Vegas Convention Center. Let's Clear The Air. It's hard to think company could make the air any clearer to understand. The result? An app that coaches through air-quality journey - understanding needs, tailoring reporting and providing advice that amplifies the potential of air for the better. The Airthings app is easy to set up, even easier to use and features detailed graphs, color-coded air indicators and tips on how to improve air quality. It is compatible with all Airthings devices in its View family of products, including its View Plus. Compatibility for its Wave products, such as Wave Plus and Wave Mini, will follow soon after launch, making the new Airthings app the most complete and comprehensive resource for the company's devices. In addition to providing multi-room monitoring for those with multiple Airthings monitors, the Airthings app offers insights and tips, all in a streamlined, easy-to-navigate format. Recent Insider Transactions • Jan 03
Chairman of the Board recently bought kr1.6m worth of stock On the 30th of December, Geir Forre bought around 481k shares on-market at roughly kr3.42 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr2.0m. Geir has been a buyer over the last 12 months, purchasing a net total of kr8.4m worth in shares. Major Estimate Revision • Nov 18
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from US$40.3m to US$40.7m. Forecast EPS reduced from -US$0.05 to -US$0.05 per share. Electronic industry in Norway expected to see average net income growth of 26% next year. Consensus price target of kr9.50 unchanged from last update. Share price was steady at kr4.08 over the past week. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 9 non-independent directors. Chairman of the Board Geir Forre was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 04
Chairman of the Board recently bought kr2.0m worth of stock On the 31st of October, Geir Forre bought around 480k shares on-market at roughly kr4.12 per share. This transaction amounted to 1.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Geir has been a buyer over the last 12 months, purchasing a net total of kr6.7m worth in shares. Major Estimate Revision • Oct 29
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 losses forecast to reduce from -US$0.06 to -US$0.05 per share. Revenue forecast steady at US$39.6m. Electronic industry in Norway expected to see average net income growth of 25% next year. Consensus price target down from kr9.80 to kr9.50. Share price fell 9.7% to kr4.23 over the past week. Recent Insider Transactions • Sep 22
Chairman of the Board recently bought kr1.0m worth of stock On the 16th of September, Geir Forre bought around 200k shares on-market at roughly kr5.20 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Geir has been a buyer over the last 12 months, purchasing a net total of kr4.8m worth in shares. Recent Insider Transactions • Aug 20
Board Member recently bought kr75k worth of stock On the 18th of August, Liv Dyrnes bought around 18k shares on-market at roughly kr4.31 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr202k. Insiders have collectively bought kr5.7m more in shares than they have sold in the last 12 months. Major Estimate Revision • Jul 22
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -US$0.06 to -US$0.06 per share. Revenue forecast unchanged at US$41.4m. Electronic industry in Norway expected to see average net income growth of 22% next year. Consensus price target down from kr12.20 to kr9.80. Share price rose 19% to kr4.11 over the past week. Price Target Changed • Jul 21
Price target decreased to kr9.80 Down from kr12.20, the current price target is an average from 2 analysts. New target price is 133% above last closing price of kr4.20. Stock is down 59% over the past year. The company is forecast to post a net loss per share of US$0.043 next year compared to a net loss per share of US$0.042 last year. Recent Insider Transactions • Jul 21
Chief Marketing Officer recently bought kr202k worth of stock On the 18th of July, Lauren Pedersen bought around 52k shares on-market at roughly kr3.89 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr3.7m. Insiders have collectively bought kr5.5m more in shares than they have sold in the last 12 months. Reported Earnings • Jul 17
Second quarter 2022 earnings released: US$0.026 loss per share (vs US$0.12 loss in 2Q 2021) Second quarter 2022 results: US$0.026 loss per share. Revenue: US$6.85m (down 9.9% from 2Q 2021). Net loss: US$4.45m (loss widened 109% from 2Q 2021). Over the next year, revenue is forecast to grow 45%, compared to a 118% growth forecast for the industry in Norway. Major Estimate Revision • Jul 15
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$39.6m to US$37.4m. Losses expected to increase from US$0.05 per share to US$0.06. Electronic industry in Norway expected to see average net income growth of 23% next year. Consensus price target of kr12.00 unchanged from last update. Share price fell 6.1% to kr3.45 over the past week. Major Estimate Revision • Jun 23
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from US$48.0m to US$40.6m. EPS estimate reaffirmed at -US$0.01 per share. Electronic industry in Norway expected to see average net income growth of 23% next year. Consensus price target of kr18.20 unchanged from last update. Share price rose 6.5% to kr3.83 over the past week. Major Estimate Revision • Jun 11
Consensus estimates of losses per share improve by 33% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from US$49.3m to US$50.4m. EPS estimate increased from -US$0.02 per share to -US$0.01 per share. Electronic industry in Norway expected to see average net income growth of 21% next year. Consensus price target of kr18.20 unchanged from last update. Share price fell 13% to kr4.24 over the past week. Recent Insider Transactions • Jun 11
Chief Operating Officer recently bought kr60k worth of stock On the 9th of June, Audhild Randa bought around 15k shares on-market at roughly kr3.99 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr3.7m. Audhild has been a buyer over the last 12 months, purchasing a net total of kr183k worth in shares. Recent Insider Transactions • Jun 01
Chief Marketing Officer recently bought kr200k worth of stock On the 30th of May, Lauren Pedersen bought around 40k shares on-market at roughly kr5.00 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr3.7m. Insiders have collectively bought kr5.3m more in shares than they have sold in the last 12 months. Recent Insider Transactions • May 21
Board Member recently bought kr499k worth of stock On the 19th of May, Tore Rismyhr bought around 101k shares on-market at roughly kr4.97 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr3.7m. Insiders have collectively bought kr5.1m more in shares than they have sold in the last 12 months. Reported Earnings • May 08
First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2022 results: US$0.02 loss per share (up from US$0.023 loss in 1Q 2021). Revenue: US$9.06m (up 35% from 1Q 2021). Net loss: US$3.13m (loss narrowed 22% from 1Q 2021). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to grow 63%, compared to a 175% growth forecast for the industry in Norway.