Asetek – Q1 2023: Increased Activity Amid Continued Market Challenges
· First-quarter revenue of $14.8 million, up 6% from $13.9 million in Q1 2022 · Gross margin increased to 44%, compared with 38% in Q1 2022 · Q1 EBITDA adjusted of $2.8 million compared with EBITDA loss of $0.9 million in Q1 2022 · SimSports revenue of $1.3 million in the quarter, reflecting shipments of eight new products · 23 new liquid coolers began shipping in Q1 · Quarterly OPEX reduced 25% YoY due to organizational rightsizing and reduced IP litigation efforts · Successful listing on Nasdaq Copenhagen on 17 May after completing rights issue raising gross proceeds of