In this Research Note, we examine Airthings ASA, the Norwegian tech company focused on indoor air quality sensing. This analysis focuses on their 2022 financials and revised strategy for their commercial buildings offering, Airthings for Business, based on their Capital Market Day presentation, 26th October 2023. This article updates our previous article published in January 2023. Airthings offers indoor air quality and energy-efficiency solutions for homeowners, businesses, and professionals. Founded in 2008 and headquartered in Oslo, Norway, the company has 125 employees. Airthings Financial Results 2022 On 10th February 2023, Airthings reported overall revenue of USD 35.5 million for the full year 2022, up 5% from 2021. Airthings for Business amounted to USD 10.3 million for 2022 (+49%). Annual recurring revenue (ARR) increased 26% year-on-year to USD 3.6 million, of which Airthings for Business accounted for USD 2.5 million. Airthings Q4-2022 Presentation, 10 February 2023 Revised Strategy and 2023 Capital Markets Update The 2022 results […]