Appear ASA – Annual report 2025
Oslo, Norway, 17 March 2026 - Appear, a global leader in live production technology, today published its 2025 Annual report. The report is enclosed in pdf format and European Single Electronic Format (ESEF).
"2025 was a strong year with significant milestones for Appear, delivering solid growth while strengthening profitability and maintaining financial discipline,” CEO of Appear Thomas Bostrøm Jørgensen said, and continued:
“As global sports media rights values continue to increase, so does the need for resilient, scalable production technology infrastructure. Appear operates precisely at this intersection, providing extremely reliable, cost- and energy efficient hardware and software solutions for sports leagues and federations, broadcasters and streaming platforms, production service providers, and connectivity providers. Live broadcast simply can’t fail. That’s why giants like Formula 1, Netflix, NHL, NFL, Premier League and many more rely on us, and continue to expand their customer relationships year by year.”
The figures in the annual report are fully consistent with Appear’s Q4 report published on February 12 2026. 2025 revenue was NOK 800.9 million, representing 32.3 percent year-on-year growth. Since 2021, Appear has achieved a revenue CAGR exceeding 30 percent. Underlying EBITDAC1 reached NOK 142.2 million in 2025, corresponding to a margin of 17.8 percent. Gross margins remained strong at approximately 72 percent. Net profit reached NOK 129.2 million.
For 2026, Appear guides toward approximately NOK 1.0 billion in revenue, representing around 25 percent year-on-year growth. The medium-term ambition remains annual revenue growth of 25–30 percent combined with EBITDAC margins between 17 and 20 percent.
“In 2026, we are sharpening our focus on delivering the capabilities that matter most for our customers and for the future of live production. We will deepen our partnerships with leading broadcasters, streaming platforms and sports organisations in the Americas and EMEA, continue expanding our footprint within live production across Asia‑Pacific, and strengthen our role within both live sports and live news,” Thomas Bostrøm Jørgensen ends.
The annual report is available live here. The pdf format and European Single Electronic Format (ESEF). All materials are available here.
1Note that EBITDAC and Underlying EBITDAC are alternative performance measures. EBITDAC is calculated by adding capitalised development expenditure to EBITDA, reflecting operating performance, and Underlying EBITDAC excludes the impact of items that are considered exceptional, here IPO costs. EBITDAC and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as a part of the APM section of the fourth quarter 2025 financial report.
ENDS
For further information, please contact:
IR and media contact - Jo Christian Lund-Steigedal, Corporate Communications AS
+47 415 08 733 | [email protected]
About Appear ASA
Headquartered in Oslo, Norway, Appear designs and delivers high-capacity, sustainable solutions for media processing and live content delivery. The Company's technology enables the capture, transport, and processing of live video from sports stadiums, concert arenas, and other venues to the viewers within milliseconds, ensuring superior video quality and reliability. Appear serves broadcasters, production companies, content owners and network operators worldwide who rely on its live production technology to deliver the world's most demanding live productions.