Oslo, Norway, 28 May 2025) - Airthings' (AIRX) revenues reached USD 9.2 million
in the first quarter 2025, down 3 percent from the same period last year, with
declining revenues in the Consumer segment and solid growth in the Business and
Pro segments.

"We entered 2025 with a leaner organization, a focused strategy, and a strong
commitment to improving profitability. Revenues were within our guided range and
our gross margin improved from the previous quarter. Optimization of supply and
availability across channels were main priorities," says CEO Emma Tryti of
Airthings, a global leader in indoor air quality monitoring solutions.

Despite increasing awareness and continued demand in North America, revenues in
the Consumer segment dropped 13 percent, to USD 6.7 million, compared to the
first quarter last year. The decline was driven mainly by lower realized product
prices as distribution partners were more cautious and overall weaker consumer
sentiment in the US.

Possible asset divestment and ongoing strategic review
In April, Airthings agreed a letter of intent with Firda AS for the sale of
Airthings' Business segment assets. In parallel, the Board engaged a financial
adviser to seek out potential alternative bids and to conduct a strategic review
of options for the company as a whole. The process was ongoing as of 28 May
2025, with interest received from several relevant parties underlining the
quality and potential of Airthings.

"We believe that the ongoing strategic process will contribute to strengthening
our financial position and secure long-term growth. Macroeconomic volatility,
including US tariffs, affects growth, profitability and liquidity to a larger
degree than previously anticipated. We will continue to monitor the situation
closely and update the market as appropriate. In the meantime, we will continue
our focus on efficient operations and financial performance," says Tryti.

Continued consumer demand for safety-related products
Despite lower Consumer segment revenues, safety-related products performed well
during the quarter, with solid sell-through numbers amongst key distribution
partners during the first quarter. Airthings shipped approx. 71,000 such devices
in the quarter, on par with the same period last year, while average realized
prices decreased due to campaigns during radon action month in January and sales
skewed towards low-priced products. Airthings successfully negotiated and
renegotiated contracts with distribution partners with the aim of improving
long-term unit economics and gross margins.

Healthy growth in the Business and Pro segments
The Business segment delivered revenues of USD 1.8 million, corresponding to 56
percent year-on-year growth in the quarter. The growth was driven by a steady
deal flow and low churn rates.

Improving gross margin and reduced personnel costs
Gross profit was USD 5.6 million in Q1 25, down 3 percent from USD 5.8 million
in Q1 24. The gross profit margin was 61 percent in Q1 25, up from 45 percent in
the fourth quarter 2024 and stable compared to the first quarter last year.

Personnel costs declined 9 percent, to USD 3.3 million, following a reduction in
full-time employees from 132 to 106 during 2024. Overall operating expenses
increased 1 percent year-on-year, to USD 7.7 million, driven by increased sales
commissions and marketing costs following a shift in our channel mix and launch
of new retail partners.

The reported EBITDA in the first quarter was negative USD 2.1 million, compared
to EBITDA of negative USD 1.8 million in the same period last year. EBIT for the
first quarter was negative USD 2.5 million.

Short term outlook impacted by increased uncertainty
Sell-through levels at key consumer partners were healthy during Q1 and
indicated continued category growth. However, sell-in during the first part of
Q2 was impacted by increased uncertainty related to general consumer spending
and the impact of US tariffs. This uncertainty is likely to be further
accelerated by cautious inventory management among our distribution partners.

Airthings expect continued uncertainty related to the effects of US tariffs and
a weaker sentiment amongst both consumers and businesses, especially in the US
market. The situation makes it more difficult than before to predict both market
development and revenues. Our current outlook indicates revenues in the range of
USD 7.0 - 9.0 million in the second quarter 2025.

As communicated as part of the strategic review, the situation overall makes it
prudent to secure additional capital to ensure a robust foundation going
forward.

The interim report and presentation are attached to this release and available
on www.airthings.com/investors.

Practical arrangements:
The Q1 2025 results will be released at 07:00 (CET) on Wednesday 28 May 2025 and
will be presented by CEO Emma Tryti and CFO Helge Øien at 08:00 (CET) at Danske
Bank's offices, Aker Brygge, Oslo, Norway. The presentation is open to the
public and can also be followed via the following link:

https://events.webcast.no/airthings/presentations/1q-2025-presentation

For additional information or media requests, please contact:

Helge Øien, CFO
ir@airthings.com

Emma Tryti, CEO
emma.tryti@airthings.com

About Airthings
Airthings is a leading global technology company specializing in award-winning
radon detectors and indoor air quality (IAQ) monitors for homes, workplaces, and
schools. With a mission to empower people worldwide to understand and improve
the air they breathe, Airthings offers accessible, accurate, and user-friendly
solutions designed to enhance health and well-being through simple and
affordable technology.

Airthings has sold over 1 million devices worldwide. The company and its
products have received the TIME Best Inventions Award and CES Innovation Award
Honor. Headquartered in Oslo, Norway, with additional offices in the United
States, Airthings continues to innovate and educate on the importance of
continuous indoor air quality monitoring. For more information on Airthings'
comprehensive range of IAQ solutions and the benefits of healthy indoor air,
please visit airthings.com.