Smartoptics Group AS

Annual Report • Apr 11, 2025

Smartoptics Group AS (SMOP) releases Annual report 2024

Smartoptics Group AS (SMOP) releases Annual report 2024

Oslo, April 11, 2025 - Smartoptics, a leading provider of optical networking

solutions, today released its Annual Report 2024.

"While we saw a slight revenue decline for 2024 as a whole, we ended the year on

a very strong note, with 22 percent revenue growth in the fourth quarter, and a

significant uptick in profitability. With this, an exceptional period of four

consecutive quarters of soft market and revenue decline came to an end," said

CEO of Smartoptics, Magnus Grenfeldt.

Despite soft revenue development during the first quarters of 2024, Smartoptics

continued to build for the future. Not only through development of the product

portfolio, but also by developing the go-to-market model and the organization

for long-term growth.

"Our belief in the long-term potential of the optical network industry is

unwavering. The growing demand for bandwidth will undoubtably continue driven by

more and more video streaming, live gaming, videoconferencing, cloud computing,

and AI. Smartoptics is perfectly positioned in this space. Throughout 2024 we

maintained high gross margins, and as growth picks up, we expect operating

margins to develop positively", said Magnus Grenfeldt.

Looking ahead, Smartoptics experiences that the willingness to invest has

returned among many customers.

"There are no signs of slowdown in the underlying market drivers. At the same

time, we won't be immune to the consequences of geopolitical turmoil, and the

USA is an important market to us. We monitor the development in the internation

trade regimes and are mapping out how we can avoid negative implications. At

this point, we consider Smartoptics to be relatively well positioned with

Solutions production in the EU. As far as we know, no player in the market is

yet producing in the USA," said Magnus Grenfeldt.

For more information please contact:

Magnus Grenfeldt

CEO

Smartoptics

+46 73-366 88 77

E-mail: magnus.grenfeldt@smartoptics.com

About Smartoptics

Smartoptics provides innovative optical networking solutions and devices for the

new era of open networking. Our customer base includes thousands of enterprises,

governments, cloud providers, Internet exchanges as well as cable and telecom

operators. We have an open networking approach in everything we do which allows

our customers to break unwanted vendor lock-in, remain flexible and minimize

costs. Our solutions are used in metro and regional network applications that

increasingly rely on data center services and specifications. Smartoptics is a

Scandinavian company founded in 2006. We partner with leading technology and

network solution providers such as Brocade, Cisco and Dell and have a global

reach through more than 100 business partners.

For additional information about Smartoptics, please visit

https://smartoptics.com/