u-blox reports first quarter 2023 revenue growth of 20% compared to the prior year period

Ad hoc announcement pursuant to article 53 LR

u-blox reports first quarter 2023 revenue growth of 20% compared to the prior year period

Thalwil, Switzerland – 12 April 2023 – u-blox (SIX: UBXN), a global leader in wireless and positioning solutions, today announced its preliminary (unaudited) revenues for the first quarter (1Q) ended 31 March 2023.

• 1Q 2023 revenues amounted to CHF 166 million. This compares to revenues of:
  • CHF 138 million in 1Q 2022, an increase of 20% (20% at constant currencies)
  • CHF 149 million in 4Q 2022, an increase of 11% (15% at constant currencies)
• 1Q 2023 revenue supports the full year 2023 guidance released on 10 March 2023

“The strong first quarter 2023 revenue growth confirms our long-term business strategy to focus on industrial and automotive growth markets. Our business expanded driven by the APAC region and to a lesser extent by EMEA, while the AMERICAS showed some weakness,” said Stephan Zizala, u-blox’s Chief Executive Officer. 

First Quarter 2023 Business Highlights:

• Automotive: u-blox signed a partnership with GMV, a leading global technology company delivering state-of-the-art safe positioning solutions for automated driving contributing to a greener and more sustainable urban future.
• Automotive: u-blox announced the launch of JODY-W4, the first automotive-grade module supporting Wi-Fi 6E technology and Bluetooth LE Audio functionalities for telematics and infotainment. It supports in-car personalized entertainment and facilitates over-the-air updates.
• Industrial: u-blox launched its first tri-radio stand-alone IRIS-W1 module series, featuring dual-band Wi-Fi 6, Bluetooth Low Energy (LE) and Thread. This innovative module offers connectivity options for industrial automation, asset tracking smart buildings, and EV charging.  Thread is a low-power, wireless IoT protocol that enables secure, scalable, and reliable networks.
   

Upcoming events:

• Annual general meeting:  19 April 2023
• Six-month revenue:  12 July 2023
• Half-year results:   18 August 2023
• Nine-month revenue:  11 October 2023

About u-blox:
u-blox (SIX: UBXN) is a global technology leader in positioning and wireless communication in automotive, industrial and consumer markets. Its 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.

Find us on www.u‑blox.com, 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.