Airthings Q2 revenue drops amid restructuring, funding efforts

Airthings ASA announced Q2 2025 revenues of $7.7 million, an 11% year-on-year decline, with gross profit falling 19% to $4.4 million, impacted by softer consumer sentiment, US tariffs, and promotional costs. Both consumer and business segments experienced revenue decreases, with consumer revenue down 15% to $5.8 million and business revenue down 7% to $1.3 million. The company's EBITDA for the quarter was negative $3.0 million, compared to negative $1.7 million in Q2 2024.

In response, Airthings is implementing significant cost reductions, including a 35% workforce reduction to be completed during 2025. Concurrently, the company is pursuing a capital injection of approximately NOK 100 million through a private placement and subsequent offering, led by a consortium controlled by the chairman of the board, Geir Førre.

This financial restructuring may include seeking a delisting from the Oslo Stock Exchange, with discussions expected to conclude by mid-September 2025. Airthings' liquidity situation remains challenging, with cash and cash equivalents at $1.6 million as of June 30, 2025, down from $5.4 million at the end of Q1 2025.