Second quarter and half- year 2025 report, process to raise capital initiated

(Oslo, Norway, 27 August 2025) — Airthings’ (AIRX) revenues for the second quarter of 2025 were USD 7.7 million, down 11 percent from the same period last year, with declining revenues in both the Consumer and Business segments.

Revenues in the Consumer segment dropped to USD 5.8 million in the second quarter, a 15 percent decrease compared to the second quarter last year. The decline was caused by a continued high demand for Corentium Home, which has a lower average sales price than other Airthings products, combined with expenses related to upcoming US sales events.​ The number of Consumer devices shipped rose about 6 percent in the second quarter compared to the same quarter last year and sell-through at key partners also increased year-on-year.

The Business segment delivered revenues of USD 1.3 million in the second quarter, a decline of 7 percent year-on-year. Repeat purchases from large customers within finance, healthcare and retail contributed to most of the hardware sales. Subscription revenues grew 5 percent.​

Gross profit was USD 4.4 million in the second quarter, down 19 percent from USD 5.4 million in the same quarter last year. The gross profit margin was 57 percent in the second quarter 2025, down from 62 percent in the second quarter last year. ​Gross profit grew year-on-year in the Business and Pro segments, while gross profit in the Consumer segment was impacted negatively by a weakening US consumer sentiment, US tariffs and costs related to promotions and campaigns with key retail partners.​

The reported EBITDA in the second quarter was negative USD 3.0 million, compared to EBITDA of negative USD 1.7 million in the same quarter last year. EBIT in the second quarter was a negative USD 3.4 million.​

On 10 August, Airthings announced organizational changes as part of its continued efforts to optimize operations, improve efficiency, and accelerate the path to profitability. The company’s workforce will be reduced by about 35 percent from the current 102 employees (FTEs), to be completed during 2025. The restructuring comes on top of measures implemented in 2024. Personnel costs declined to USD 3.4 million in the second quarter, down 12 percent year-on-year.

Contemplating private placement and subsequent offering

Following a financial review announced 14 July 2025, Airthings has initiated a dialog with a consortium led by Firda, an investment firm controlled by Geir Førre, Chair of the Board of Airthings. The aim is to establish a guarantee consortium for a capital injection of about NOK 100 million. Based on discussions to date, a share issue is envisaged to be carried out at a share price of NOK 0.10 and structured as a private placement followed by a subsequent offering with pro rata participation rights for existing shareholders.

An integral part of such a transaction is expected to include a proposal to seek a delisting of the company's shares from the Oslo Stock Exchange. Pending definitive documentation and corporate resolutions, the company, however, cannot guarantee that a transaction will ultimately take place.

The company aims to complete discussions with Firda and other shareholders in time for a potential transaction to be initiated mid September 2025 and will provide updates in due course as appropriate.

For additional information or media requests, please contact:

Helge Øien, CFO
ir@airthings.com

About Airthings

Airthings is a leading global technology company specializing in award-winning radon detectors and indoor air quality (IAQ) monitors for homes, workplaces, and schools. With a mission to empower people worldwide to understand and improve the air they breathe, Airthings offers accessible, accurate, and user-friendly solutions designed to enhance health and well-being through simple and affordable technology. Airthings has sold over 1 million devices worldwide. The company and its products have received the TIME Best Inventions Award and CES Innovation Award Honor. Headquartered in Oslo, Norway, with additional offices in the United States, Airthings continues to innovate and educate on the importance of continuous indoor air quality monitoring. For more information on Airthings’ comprehensive range of IAQ solutions and the benefits of healthy indoor air, please visit airthings.com.