Investing.com-- Nordic Semiconductor reported a more than twofold rise in its third-quarter core earnings on Thursday, as the Norwegian chipmaker benefited from strong demand for its low-power wireless chips.
Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA), also called core earnings, rose to $39.8 million from $18.3 million a year earlier, the company said. The adjusted EBITDA margin widened to 16.9% from 10.2%.
Revenue rose to $235.5 million from $179.0 million, up 31.6% from last year. Gross margin improved to 52.8% from 51.9%.
Short-range revenue, which accounted for 92% of sales, grew 30% to $215.9 million. Long-range revenue, which includes cellular and satellite products, rose 70% to $16.6 million.
Operating profit was $27.3 million, compared with $4.4 million a year earlier. Net profit after tax was $26.9 million, up from $0.9 million, helped by a $1.7 million tax income linked to a reduction in deferred tax.
Nordic said it deliberately built inventory to secure supply for the ramp-up of its nRF54 series. Inventory rose to $235.6 million from $133.4 million a year earlier, while cash fell to $266.8 million from $307.4 million at the end of 2025.
For the fourth quarter, Nordic expects revenue of $215 million to $235 million and a gross margin above 50%. At the midpoint, that implies full-year revenue growth of 31% and a gross margin at or above 52%.
The company reiterated its long-term aim of moving towards a 25% EBITDA margin.
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