Q1 2026 report

Q1 2026 was a strong start to the year, with group revenue of NOK 231.7 million, up 43% year-on-year. Growth was led by the Americas, up 54% to NOK 143.6 million, with EMEA up 25% to NOK 77.7 million and Asia Pacific continuing to build presence. With EBITDAC of NOK 25.9 million and free cash outflow of NOK 28.0 million, we have a solid foundation to keep investing in innovation and growth.

Significant orders from broadcasters and service providers across both regions reflect the accelerating shift from satellite to IP-based contribution, and the trust that the industry's most demanding productions place in our brand and platform. This summer, the FIFA World Cup comes to the Americas, and Appear will be at the heart of it. It is a milestone moment for Appear, both commercially and in terms of our global profile.

Our land-and-expand strategy continues to deliver with the biggest names in broadcasting and sport. During the quarter, a top-tier sports broadcaster extended its X Platform infrastructure to support multiple Tier 1 events, a major sports league committed to deploying Appear across 30 stadiums as part of a full IP transition, and a leading American broadcaster deepened its investment across live sports and news. Each of these wins reflects the same underlying dynamic: as the industry moves to IP, Appear is the partner customers trust to get them there.

In EMEA, the X Platform is cementing its reputation as the go-to choice for Tier 1 football production, with a major VAR system upgrade among the quarter's highlights. The launch of Appear HUB and Appear XM, our new self-service and fleet management tools, adds real operational value for customers and reinforces the long-term nature of our relationships well beyond the initial sale.

We are also making real progress on the next wave of growth. The X5 is gaining traction across the Americas and EMEA, opening new Tier 2 segments through reseller channels. VX reached General Availability in Q1 and is already live in sporting events, marking an important step in Appear's evolution toward software-defined, cloud-ready media workflows.

We enter the rest of 2026 with momentum, growing customer relationships across all three regions, and real confidence in the opportunities ahead.