Airthings AS
ASActiveOrg 993092045Wergelandsveien 7, 0167 OsloEngineering activities and related technical consultancy· NACE 7112Est. 2008 · 18 years old47 employeeshttps://www.airthings.com
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Overview
Airthings AS is a Norwegian AS based in Oslo, operating in the Engineering activities and related technical consultancy sector. Incorporated in 2008, the company has 47 employees and reported revenue of NOK 291.0m in its latest annual filing.
Revenue 2025
291M NOK
+42% vs 2020
EBITDA margin
−36.3 %
−148% vs 2020
Net profit 2025
-169.1M NOK
-461% vs 2020
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
70.9 %
StrongAmong the 40% highest rated companies in the industry
20172025
Liquidity ratioCurrent assets ÷ Short-term debt
3.7×
StrongAmong the 40% highest rated companies in the industry
20172025
Return on assets (ROA)Net profit ÷ Total assets × 100
-44.9 %
Very weakAmong the 20% lowest rated companies in the industry
20172025
EBITDA — year on year
NOK millionsKey figures
Annual report 2025| Revenue | 291M NOK | +42% |
| EBITDA | -105.5M NOK | -148% |
| Net profit | -169.1M NOK | -461% |
| Total assets | 376.7M NOK | -50% |
| Equity | 267M NOK | -60% |
| Employees | 47 | — |
Company information
Legal name
AIRTHINGS AS
Org number
993092045
Legal form
Aksjeselskap
NACE code
Founded
1 August 2008 · 18 years
Share capital
NOK 12,493,018
Employees
47 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Styrets leder og ett styremedlem i fellesskap.
Company purpose
Produkt- og tjenesteutvikling tilknyttet luftkvalitet og energioptimalisering av bygg, samt tilhørende internasjonal markedsføring og salg av disse, investering i andre selskaper eller utvikling av annen virksomhet, og alt som står i forbindelse med forannevnte.
(no translation available)
Contact
Address
Wergelandsveien 7, 0167 Oslo
Website
https://www.airthings.com
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Financial development
In its most recent annual report (2025), Airthings AS reported revenue of NOK 291.0m, an increase of 42% on the year before. The figures on this page draw on 5 annual filings covering 2017 to 2025. The bottom line showed a net loss of NOK 169.1m, and the EBITDA margin stood at -36.3%.
At the end of 2025, equity financed 70.9% of the balance sheet, and current assets covered short-term debt 3.7 times.
Financials
Revenue
NOK millionsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2025 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|
| Revenue | 290,964 | 205,121 | 144,235 | 100,613 | 61,817 |
| Staff expenses | -0 | -0 | -42,522 | -27,485 | -17,376 |
| EBITDA | -105,510 | -42,482 | -11,806 | 5,808 | 6,064 |
| Depreciation & amort. | -25,001 | -1,996 | -617 | -377 | -149 |
| EBIT | -130,511 | -44,478 | -12,423 | 5,432 | 5,915 |
| Net financials | -14,182 | -4,160 | -593 | 782 | 274 |
| Profit before tax | -144,693 | -48,638 | -13,017 | 6,213 | 6,189 |
| Tax | -0 | -0 | -3,961 | 422 | 840 |
| Net profit | -169,116 | -30,126 | -9,056 | 5,791 | 5,349 |
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Balance sheet
NOK thousands| Item | 2025 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|
| Total assets | 376,690 | 746,614 | 144,798 | 74,346 | 61,676 |
| Equity | 266,980 | 671,265 | 99,209 | 50,859 | 49,441 |
| Long-term debt | 14,000 | 0 | 17,889 | 61 | 11 |
| Short-term debt | 95,710 | 75,349 | 27,701 | 23,427 | 12,225 |
| Total debt | 109,710 | 75,349 | 45,589 | 23,488 | 12,235 |
Financial ratios
5-year trendEBITDA margin
-36.3 %
20172025
Equity ratio
70.9 %
StrongAmong the 40% highest rated companies in the industry
20172025
Return on equity
-63.3 %
Very weakAmong the 10% lowest rated companies in the industry
20172025
Net profit margin
-58.1 %
Very weakAmong the 20% lowest rated companies in the industry
20172025
Asset turnover
0.77×
AverageAround the average of companies in the same industry
20172025
Debt / equity
0.41×
AverageAround the average of companies in the same industry
20172025
Sector performance
24 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginVery weak
Among the 10% lowest rated companies in the industry
The gross result as a share of revenue — how much of the revenue is left after variable costs to cover the company's fixed costs.
Operating marginVery weak
Among the 20% lowest rated companies in the industry
EBIT as a share of revenue — the share of revenue remaining as earnings once all operating costs are covered. A key measure of earning power.
Net profit marginVery weak
Among the 20% lowest rated companies in the industry
The profit for the year as a share of revenue — the company's ability to turn revenue into profit.
Return on equity (ROE)Very weak
Among the 10% lowest rated companies in the industry
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on assets (ROA)Very weak
Among the 20% lowest rated companies in the industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Return on net assets (RONA)Very weak
Among the 10% lowest rated companies in the industry
Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.
Basic earning power (BEP)Very weak
Among the 20% lowest rated companies in the industry
EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.
Capacity ratioWeak
Among the 40% lowest rated companies in the industry
Shows how strongly fixed costs weigh on the gross result — a high ratio means fixed costs take only a small bite out of the earnings from basic operations.
Liquidity
Current ratioStrong
Among the 40% highest rated companies in the industry
Current assets relative to short-term debt — the ability to settle short-term obligations with current assets alone. Around 150% is considered satisfactory from a credit perspective.
Quick ratioAverage
Around the average of companies in the same industry
Current assets excluding inventory relative to short-term debt — whether the most liquid assets alone can cover the short-term obligations. A value of 1 or above signals a healthy liquidity position.
Cash ratioWeak
Among the 30% lowest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityAverage
Around the average of companies in the same industry
Current assets relative to equity — an indicator of the balance-sheet structure and of the company's short- and long-term financing. The healthy level is highly industry-dependent.
Fixed assets to long-term capitalStrong
Among the 40% highest rated companies in the industry
Fixed assets relative to long-term capital (equity plus long-term liabilities). Below 100% means the long-term capital finances more than just the fixed assets — a healthier liquidity position.
Cash conversion ratioWeak
Among the 30% lowest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioStrong
Among the 40% highest rated companies in the industry
Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.
Debt ratioStrong
Among the 40% highest rated companies in the industry
Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.
Debt to equityAverage
Around the average of companies in the same industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityAverage
Around the average of companies in the same industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtVery weak
Among the 10% lowest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtVery weak
Among the 20% lowest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageWeak
Among the 30% lowest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
The return on assets minus the interest rate on debt. Positive means the company benefits from operating with debt; negative means the debt makes it worse off.
Efficiency & development
Asset turnoverAverage
Around the average of companies in the same industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Inventory turnoverStrong
Among the 30% highest rated companies in the industry
Revenue relative to inventory — how many times a year the inventory is sold and replaced. A low value can indicate weak sales or excess inventory.
Equity to contributed capitalStrong
Among the 30% highest rated companies in the industry
Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.
One-year change in equityNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
The size of this year's increase or decrease in the company's equity.
One-year change in debtNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
The size of this year's increase or decrease in the company's debt.
Annual reports & filings
- Annual report 2025Filed via Brønnøysundsregistrene · Period 2025-01-01 – 2025-12-31
- Annual report 2020Filed via Brønnøysundsregistrene · Period 2020-01-01 – 2020-12-31
- Annual report 2019Filed via Brønnøysundsregistrene · Period 2019-01-01 – 2019-12-31
- Annual report 2018Filed via Brønnøysundsregistrene · Period 2018-01-01 – 2018-12-31
- Annual report 2017Filed via Brønnøysundsregistrene · Period 2017-01-01 – 2017-12-31
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
IK Chief Executive Officer | Chief Executive Officer | 2026 |
Former (6)
ØB Chief Executive Officer | Chief Executive Officer | 2016 – 2024 |
EC Chief Executive Officer | Chief Executive Officer | 2024 – 2025 |
DN Deputy Member | Deputy Member | 2025 – 2026 |
AG Deputy Member | Deputy Member | 2023 – 2026 |
TH Deputy Member | Deputy Member | 2023 – 2025 |
HS Chief Executive Officer | Chief Executive Officer | 2025 – 2026 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (2) | ||
HB Board of Directors | Board of Directors | 2026 |
IK Chairman | Chairman | 2026 |
Former (19)
ØB Board of Directors | Board of Directors | 2025 – 2026 |
TH Board of Directors | Board of Directors | 2025 – 2026 |
ØD Board of Directors | Board of Directors | 2025 – 2026 |
SO Board of Directors | Board of Directors | 2025 – 2026 |
EC Board of Directors | Board of Directors | 2021 – 2024 |
KM Board of Directors | Board of Directors | 2021 – 2025 |
LR Board of Directors | Board of Directors | 2020 – 2023 |
NO Board of Directors | Board of Directors | 2023 – 2025 |
LB Board of Directors | Board of Directors | 2025 – 2026 |
EB Board of Directors | Board of Directors | 2024 – 2025 |
AG Board of Directors | Board of Directors | 2020 – 2023 |
LH Board of Directors | Board of Directors | 2020 – 2025 |
CE Board of Directors | Board of Directors | 2023 – 2024 |
AA Board of Directors | Board of Directors | 2020 – 2021 |
TH Board of Directors | Board of Directors | 2020 – 2023 |
AL Chairman | Chairman | 2021 – 2022 |
GF Chairman | Chairman | 2022 – 2026 |
FT Board of Directors | Board of Directors | 2022 – 2023 |
LF Board of Directors | Board of Directors | 2025 – 2026 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 41.95% | 41.95% | 2025 | |
| Company | 9.99% | 9.99% | 2025 | |
| Company | 4.16% | 4.16% | 2025 | |
| Company | 3.64% | 3.64% | 2025 | |
| Company | 3.54% | 3.54% | 2025 | |
| Company | 3.36% | 3.36% | 2025 | |
| Company | 3.12% | 3.12% | 2025 | |
| Company | 2.21% | 2.21% | 2025 | |
| Company | 2.08% | 2.08% | 2025 | |
| Company | 1.57% | 1.57% | 2025 | |
| Company | 1.02% | 1.02% | 2025 | |
| Company | 0.5% | 0.5% | 2025 | |
| Individual | 0.24% | 0.24% | 2025 | |
| Company | 0.18% | 0.18% | 2025 | |
| Company | 0.16% | 0.16% | 2025 | |
| Individual | 0.15% | 0.15% | 2025 | |
| Individual | 0.01% | 0.01% | 2025 | |
| Individual | 0.01% | 0.01% | 2025 | |
| Individual | 0% | 0% | 2025 | |
| Company | 0.48% | 0.48% | 2022 | |
| Company | 1.06% | 1.06% | 2022 | |
| Individual | 0.06% | 0.06% | 2022 | |
| Company | 14.52% | 14.52% | 2021 | |
Jpmorgan Chase Bank, N.A., London | Company | 0% | 0% | 2023 |
| Individual | 0% | 0% | 2025 | |
J.P. Morgan Bank Luxembourg S.A. | Company | 3.28% | 3.28% | 2020 |
| Individual | 2.77% | 2.77% | 2022 | |
| Individual | 0.03% | 0.03% | 2023 | |
| Individual | 0% | 0% | 2025 | |
| Company | 0.01% | 0.01% | 2022 | |
| Individual | 0.02% | 0.02% | 2023 | |
| Individual | 0.08% | 0.08% | 2023 | |
Hsbc Trinkaus & Burkhardt Ag | Company | 1.62% | 1.62% | 2020 |
| Company | 2.98% | 2.98% | 2023 | |
| Company | 1.74% | 1.74% | 2020 | |
| Company | 2.92% | 2.92% | 2020 | |
| Company | 1.09% | 1.09% | 2020 | |
| Company | 1.27% | 1.27% | 2022 | |
| Company | 1.24% | 1.24% | 2023 | |
| Company | 1.56% | 1.56% | 2020 | |
J.P. Morgan Bank Luxembourg S.A. | Company | 2.75% | 2.75% | 2021 |
| Company | 1.5% | 1.5% | 2023 | |
| Company | 1.08% | 1.08% | 2021 | |
| Company | 2.26% | 2.26% | 2023 | |
| Company | 1.5% | 1.5% | 2020 | |
Skandinaviska Enskilda Banken Ab | Company | 0.08% | 0.08% | 2024 |
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Airthings AS (this company)Board network connections
Board members of Airthings AS also hold positions in 191 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Aksel Lund Svindal | Chairman | 31 companiesMany roles |
| Øystein Dahl Hem | Board of Directors | 24 companiesMany roles |
| Helge Svale Sirnes Øien | Chief Executive Officer | 21 companiesMany roles |
| Liv Hege Dyrnes | Board of Directors | 20 companiesMany roles |
| David Niklas Karlsson | Deputy Member | 11 companiesMany roles |
| Lars Rahbæk Boilesen | Board of Directors | 11 companiesMany roles |
| Geir Førre | Chairman | 10 companiesMany roles |
| Sigurlaug Oskarsdottir | Board of Directors | 9 companiesMany roles |
| Øyvind Birkenes | Chief Executive Officer | 8 companiesMany roles |
| Karin Margareta Berg | Board of Directors | 7 companiesMany roles |
| Tore Helge Rismyhr | Deputy Member | 6 companiesMany roles |
| Ivar Kroghrud | Chief Executive Officer | 6 companiesMany roles |
| Audhild Andersen Randa | Board of Directors | 6 companiesMany roles |
| Emma Carina Tryti | Chief Executive Officer | 4 companies |
| Hilde Bottolfsen Bøhn | Board of Directors | 4 companies |
| Elisabeth Barrie | Board of Directors | 4 companies |
| Lene Fjellheim | Board of Directors | 3 companies |
| Tore Havsø Sæstad | Board of Directors | 2 companies |
| Niklas Olof Copley Norin | Board of Directors | 2 companies |
| Chloe Emma Waller | Board of Directors | 1 company |
| Fredrik Thoresen | Board of Directors | 1 company |
Frequently asked questions
What is the Org number of Airthings AS?
Airthings AS is registered with Brønnøysundsregistrene under Org 993092045.
What is the revenue of Airthings AS?
Airthings AS reported revenue of NOK 291.0m in 2025.
How many employees does Airthings AS have?
Airthings AS employs 47 people as of the latest annual report.
Who is the CEO of Airthings AS?
Ivar Kroghrud is the CEO of Airthings AS, in role since 2026.
Who is the chairman of Airthings AS?
Ivar Kroghrud chairs the board of Airthings AS, in role since 2026.
Where is Airthings AS headquartered?
Airthings AS's registered address is Wergelandsveien 7.