Norwegian AI-native camera provider Huddly AS reported a 11% year-on-year decline in quarterly revenue to NOK 50 million for Q2 2026, reflecting an 11% drop on a reported basis. Adjusted for NOK 8 million in U.S. tariff stocking from Q2 2025 and NOK 4 million in currency effects, organic growth reached 13%, the company said during an earnings call transcript published Thursday.
Gross margin improved to 49% from 43% in the same quarter of 2025, driven by higher-margin product mix and operational efficiencies. Cash and cash equivalents totaled NOK 62 million at the end of June, down from NOK 110 million at the start of the quarter. The current ratio stood at 1.71, while inventory, largely finished goods, amounted to NOK 160 million.
Huddly raised approximately NOK 70 million through a private placement priced at the upper end of a NOK 50 million to NOK 70 million target range. The company also secured a NOK 40 million loan from Innovation Norway and generated NOK 11 million from its repair services offering. A NOK 30.8 million shareholder loan facility was repaid during the period.
Revenue guidance for full-year 2026 was maintained at NOK 230 million to NOK 300 million, with gross margin projected between 45% and 50% through 2028. Huddly expects 2027 revenue to reach NOK 500 million to NOK 600 million, with cash flow turning positive in the second half of the year. For 2028, revenue is forecast at NOK 650 million to NOK 800 million.
The company highlighted key milestones, including a January 2026 partnership with Lenovo and the June 2026 launch of an AI data channel. Microsoft Teams IntelliFrame people labels are scheduled for rollout in September 2026, while Huddly’s full Crew+ platform is set for early 2027. Frost & Sullivan estimates the total addressable market at around $5 billion, with Huddly targeting a 15% to 20% share of the partner-addressed segment.
Huddly’s shares were indicated at $24.695 to $24.70 in after-hours trading, unchanged from the prior close, with a 52-week range of $19 to $24.70.
