u-blox Reports Record 9M 2022 Revenues

Rhea-AI Summary

u-blox announced a significant 62% increase in revenues for the nine months ending September 30, 2022, totaling CHF 475 million. The growth, adjusted for currency effects, stands at 57%. The company expects FY 2022 revenue growth between 46%-54% and maintains EBITDA and EBIT margins of 22%-25% and 16%-19%, respectively. Strong demand across all regions, especially in APAC, contributed to a 79% revenue increase in Q3 2022. CEO Thomas Seiler emphasized resilience in overcoming supply chain challenges, and strong product demand positions the company for continued growth into 2023.

Positive

• Revenues increased by 62% for 9M 2022 compared to the same period in 2021, reaching CHF 475 million.
• Q3 2022 revenue growth was 79%, driven by strong demand in APAC.
• Company is on track to meet FY 2022 revenue growth guidance of 46%-54%.
• Maintains profitability targets with EBITDA margin of 22%-25% and EBIT margin of 16%-19%.
• Sales are 15% higher than total revenues reported for FY 2021.

Negative

• None.

THALWIL, SWITZERLAND / ACCESSWIRE / October 21, 2022 / u-blox (SIX:UBXN), a global leader in wireless and positioning technologies, today announced its revenues (unaudited) for the 9 months period (9M) ending 30 September 2022.

u-blox 9M 2022 revenues increased by 62% as compared to the same period of 2021, reaching a record level of CHF 475 million. Adjusting for currency effects, the 9M 2022 growth amounted to 57%. The buoyant business momentum reflects strong and broad-based expansion of overall demand, both in terms of industries as well as geographies. With this strong performance, u-blox is on track to reach its FY 2022 guidance of a revenue growth of between 46% - 54%. The company also confirms its FY 2022 profitability targets with an EBITDA margin between 22% - 25% and an EBIT margin between 16% - 19%, respectively.

Revenue growth was particularly strong in the third quarter, amounting to 79% or 74% on a currency-adjusted basis, compared to the third quarter in 2021. Main driver for this performance was continued growth in APAC.

Thomas Seiler, CEO of u-blox, stated, "During the first nine months of 2022, our revenues increased across all regions and product types, despite supply chain constraints. Specifically, demand in the APAC region was very strong as compared to the same period of last year. More importantly, our 9M 2022 sales were 15% higher than total revenues reported for FY 2021."

Mr. Seiler concluded, "We are well positioned to continue providing our customers with the value-adding innovative products and solutions they need. As we were able to gradually make progress on solving the supply chain challenges, we have managed to generate higher revenues as the year progressed and are thus on track to achieving our FY 2022 guidance. With the end of 2022 approaching, our visibility for 2023 remains solid thanks to our record backlog and order book. The launch of numerous new products, our efforts to continuously enhance solution capabilities and the winning of new design-ins, have resulted in higher demand for our products from existing and new customers across all regions. We are confident that we will continue our growth trajectory also in 2023."

About u‑blox

u‑blox (SIX:UBXN) is a global technology leader in positioning and wireless communication in automotive, industrial, and consumer markets. Their smart and reliable solutions, services and products let people, vehicles, and machines determine their precise position and communicate wirelessly over cellular and short-range networks. With a broad portfolio of chips, modules, and secure data services and connectivity, u‑blox is uniquely positioned to empower its customers to develop innovative and reliable solutions for the Internet of Things, quickly and cost‑effectively. With headquarters in Thalwil, Switzerland, the company is globally present with offices in Europe, Asia, and the USA. (www.u‑blox.com)

Find us on Facebook, LinkedIn, Twitter @ublox, Instagram, and YouTube

u‑blox investor relations contacts:

Switzerland and Europe:
Doris Rudischhauser, c/o Dynamics Group AG
+41 79 410 81 88 / doris.rudischhauser@u-blox.com

US:
Lena Cati, The Equity Group Inc.
+1 (212) 836-9611 / lcati@equityny.com

u‑blox AG
Zürcherstrasse 68
8800 Thalwil
Switzerland
Phone +41 44 722 74 44
info@u-blox.com
www.u‑blox.com

Disclaimer

This release contains certain forward‑looking statements. Such forward‑looking statements reflect the current views of management and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the u‑blox Group to differ materially from those expressed or implied. These include risks related to the success of and demand for the Group's products, the potential for the Group's products to become obsolete, the Group's ability to defend its intellectual property, the Group's ability to develop and commercialize new products in a timely manner, the dynamic and competitive environment in which the Group operates, the regulatory environment, changes in currency exchange rates, the Group's ability to generate revenues and profitability, and the Group's ability to realize its expansion projects in a timely manner. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this report. u‑blox is providing the information in this release as of this date and does not undertake any obligation to update any forward‑looking statements contained in it as a result of new information, future events or otherwise.

SOURCE: u-blox AG

View source version on accesswire.com:
https://www.accesswire.com/721611/u-blox-Reports-Record-9M-2022-Revenues

FAQ

What were u-blox's revenues for the first nine months of 2022?

u-blox reported revenues of CHF 475 million for the nine months ending September 30, 2022, a 62% increase from the same period in 2021.

How much did u-blox's revenue grow in Q3 2022?

In Q3 2022, u-blox's revenue grew by 79% compared to Q3 2021.

What is u-blox's revenue growth guidance for FY 2022?

u-blox is on track to achieve a revenue growth between 46% and 54% for FY 2022.

What profit margins is u-blox targeting for FY 2022?

u-blox targets an EBITDA margin of 22%-25% and an EBIT margin of 16%-19% for FY 2022.

Which region showed strong demand for u-blox products?

The APAC region exhibited particularly strong demand for u-blox products during the reported period.