Huddly shipped its first Huddly Crew to customers, executing on its strategy to
define a new category in hybrid collaboration, receiving overwhelming feedback
on the intelligent camera system. The multi-camera system has won several
prestigious product and design awards.

At the same time, a sharp decline in sales through one of Huddly's main
strategic partners generated a revenue decline to NOK 51 million in the first
quarter of 2023 and a gross margin improvement to 46% due to the higher share of
high-margin sales through channels. The revenue setback reflects downstream
supply chain issues, as the partner who is lacking other parts in their
solutions has postponed orders. 

"The first shipment of Huddly Crew marks a shift for us, moving from disruptive
innovation of intelligent cameras to defining a new category of intelligent
camera systems. We will defend our position as a market leader through continued
R&D to secure long-term mutually beneficial collaborations with our strategic
partners and distribution channels" says Graham Williams, CEO of Huddly.

Huddly expects to see indications on growth regaining momentum through the third
quarter of 2023, with potential effect from the fourth quarter 2023. The Board
has decided not to provide any revenue guidance for 2023 until further notice.
The management team has revised Huddly's strategy to adapt to the current market
development, and will focus on Technology, Revenue, Gross Margin and
Profitability, and has already stabilized costs which the company expects to
decline in the second half of the 2023.

To secure the company's liquidity position the company is finalizing the process
of securing a committed loan facility of an aggregated amount of up to NOK 100
million. Of this, NOK 55 million from shareholders and companies associated with
Huddly has been committed.  

The presentation followed by a Q&A will be held on Zoom by CEO Graham Williams
and CFO Abhijit Banik today at 08:00 CET, and can be accessed through the
following link:

https://www.huddly.com/investor-relations/investor-news/huddly-webcast-q1-and-q-
and-a-2023-registration/

Questions may be submitted in advance or live during the presentation to:
ir@huddly.com

A recorded version of the presentation and the Q&A session will be made
available at:
https://www.huddly.com/investor-relations/investor-news/huddly-webcast-q1-and-q-
and-a-2023/

For more information, please contact:
Abhijit Banik, CFO
Mobile: +47 408 30 964
E-mail: abi.banik@huddly.com

About Huddly AS
Disruptive innovation is our heartbeat at Huddly. We're committed to pushing
technology and challenging the status quo in to empower human collaboration.
Combining our industry-leading expertise in artificial intelligence, software,
hardware, and UX, we craft intelligent camera systems that enable inclusive and
productive teamwork.
Huddly cameras are designed to provide high-quality, AI-powered video meetings
on major platforms, including Microsoft Teams, Zoom, and Google Meet. With
upgradable software, durable hardware, and engaging user experiences, they are
the ideal choice for organizations seeking a future-proof, scalable, and
sustainable solution.
Founded in 2013, Huddly is headquartered in Oslo, Norway, with presence in the
US and EMEA and distribution globally.


This information has been submitted pursuant to the Securities Trading Act §5-12
and MAR Article 19 no. 3. The information was submitted for publication at
2023-05-11 07:00 CET by Huddly's CFO Abhijit Banik.