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GN Store Nord A/S (GNNDY) Q1 2026 Earnings Call Transcript
2026-05-07 · via All Articles on Seeking Alpha

GN Store Nord A/S (GNNDY) Q1 2026 Earnings Call May 7, 2026 5:00 AM EDT

Company Participants

Rune Sandager - Head of Investor Relations
Peter Karlstromer - Chief Executive Officer
Soren Jelert - Chief Financial Officer

Conference Call Participants

Veronika Dubajova - Citigroup Inc., Research Division
Carsten Madsen - Danske Bank A/S, Research Division
Andjela Bozinovic - BNP Paribas, Research Division
Niels Granholm-Leth - DNB Carnegie, Research Division
Martin Parkhoi - SEB, Research Division
Susannah Ludwig - Bernstein Institutional Services LLC, Research Division
Julien Ouaddour - BofA Securities, Research Division

Presentation

Rune Sandager
Head of Investor Relations

Hello, everyone, and welcome to GN's conference call in relation to our Q1 report announced yesterday evening. Participating in today's call is Group CEO, Peter Karlstromer; Group CFO, Soren Jelert; and myself, Rune Sandager, Head of Investor Relations.

The presentation is expected to last about 20 minutes, after which we'll turn to the Q&A session. The presentation should already be uploaded on gn.com.

And with that, I'm happy to hand over to Peter for some opening remarks.

Peter Karlstromer
Chief Executive Officer

Thank you, Rune, and thanks to all of you for joining us today. Let's start with some highlights on the quarter. Our Enterprise business experienced strong growth in the U.S. and the APAC market, while EMEA continues to experience weak demand and some level of channel inventory reductions. We started shipment of our Evolve3 range at the beginning of March, and we have been very encouraged by where we've seen so far. During the quarter, we experienced significant growth in the premium segments of headsets. This is exciting as we will be launching further additions to the Evolve3 family later this year that will gradually support our growth in Enterprise.

On the margin side, we have had a soft quarter as expected due to the annualization of tariffs and