Appear ASA - Results for the second quarter of 2026

Oslo, 14 August 2026, Appear ASA (Appear, OSE: APR), a global leader in live production technology powering Tier 1 sports production and events worldwide, today released its second quarter 2026 interim report. Revenues of NOK 189.6 million, down 30.0% year-on-year from a record comparable quarter in Q2 2025, was pre-announced 6 July 2026.

Underlying EBITDAC[1] amounted to NOK 11.6 million, corresponding to a margin of 6.1%, while EBIT was NOK 22.4 million, delivering an EBIT margin of 11.8%. Profit for the period was NOK 20.7 million, and earnings per share were NOK 0.51.

For the first half of 2026, revenue was NOK 421.3 million, compared with NOK 433.3 million in the prior-year period. Underlying EBITDAC amounted to NOK 37.5 million, corresponding to a margin of 8.9%.

"Q2 was below our expectations and reflects weak short-term commercial execution outside the Americas and a low event-driven infrastructure investment as the industry completed its World Cup related build-out. At the same time, our underlying market position remains strong. During the quarter, we secured the largest order in Appear's history, expanded adoption of the X5 Platform following its deployment at the FIFA World Cup, and secured our first commercial VX order. These developments reinforce our confidence in the long-term opportunity ahead of us," says Thomas Bostrøm Jørgensen, CEO of Appear.

The Americas remained Appear's largest market, generating revenue of NOK 125.0 million in the quarter and accounting for 65.9% of total revenue. While revenue in the region declined 7.3% year-on-year against a strong comparative quarter, Americas revenue grew 17.7% in the first half of 2026, supported by continued expansion with major broadcasters and sports leagues.

While EMEA revenue declined 53.7% year-on-year, Appear signed the largest single order in the company's history, a NOK 67 million agreement with a leading global communications provider, securing four years of recurring service revenue alongside a master purchase agreement covering a further four years.

For 2026, Appear expects revenue in the range of NOK 880-920 million, representing growth of approximately 10-15% year-on-year, compared with previous guidance of approximately NOK 1.0 billion, as announced on 6 July 2026. The outlook reflects current visibility, a realistic near-term run-rate, and continued growth expectations in the Americas while the company executes measures to strengthen commercial performance outside the US.

"We are taking decisive actions to align our go-to-market model to regional market characteristics. While our direct sales model has been highly successful in North America, we see a greater potential for channel-driven approaches in parts of EMEA and Asia Pacific. These changes will take some time to translate into revenue, but we remain confident in our medium-to-long-term targets and in the structural growth drivers underpinning demand for live production infrastructure," concludes Thomas Bostrøm Jørgensen.

The quarterly report is accessible here: https://appear.wrep.it/q2-2026-report and the presentation is enclosed.

All material is available at: https://www.appear.net/investors/reports-and-presentations/

Thomas Bostrøm Jørgensen, CEO, and CFO Per Øyvind Stene will host a webcast presentation at 08:00 CEST. The presentation will be held in English and questions can be submitted throughout the event.

Watch the webcast live here: (https://qcnl.tv/p/EUMtFZeIKqrHJTt8iI6FLA)

Investors and financial analysts are invited to ask questions live by joining the Q&A via Teams on the following link: https://teams.microsoft.com/meet/330097271701313?p=P6f0FBE9FqPRQohsHX (https://nor01.safelinks.protection.outlook.com/ap/t-59584e83/?url=https%3A%2F%2Fteams.microsoft.com%2Fmeet%2F330097271701313%3Fp%3DP6f0FBE9FqPRQohsHX&data=05|02|margot.ouali%40appear.net|85a2e60a9e484d57695d08dec2eac891|ee4a5f38363846a0b5891aa523a6cc7a|0|0|639162510830597219|Unknown|TWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D|0|||&sdata=1MK3BRZ5%2Bqz8ne4%2BozJ58RLRvuMVyXUtv8yoaGdy9y8%3D&reserved=0)

Meeting ID: 330 097 271 701 313 Passcode: BH6NB2f2

Note[1]: EBITDAC and Underlying EBITDAC are alternative performance measures. EBITDAC is calculated by deducting capitalised development expenditure to EBITDA, reflecting operating performance, and Underlying EBITDAC excludes the impact of items that are considered exceptional, here IPO costs. EBITDAC and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as a part of the APM section of the first quarter 2026 financial report.

For further information, please contact: IR and media contact -- Jo Christian Lund-Steigedal, Corporate Communications AS, +47 415 08 733 | jcs@corpcom.no and CFO -- Per Øyvind Stene, Appear, +47 979 54 008 |investorrelations@appear.net