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Hilbert Group (HILB) investor relations material
Hilbert Group Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue surged to KSEK 3,606,045.7 in Q1 2026, up 7,917% year-over-year, mainly due to the Enigma Nordic AB acquisition and its high-frequency trading activity.
The period's net loss was KSEK -43,062.1, shaped by non-cash charges including share-based payments and fair-value adjustments.
The business completed its transformation into an integrated digital financial services platform and is now entering its operating phase.
Institutional allocations and AUM grew, with strong investment performance despite a 25.6% decline in Bitcoin and weaker market sentiment.
Financial highlights
Revenue: KSEK 3,606,045.7 (Q1 2025: KSEK 44,977.7); proprietary trading contributed KSEK 3,602,420.3.
Operating loss: KSEK -35,589.5 (Q1 2025: KSEK -11,852.7); net loss: KSEK -43,062.1 (Q1 2025: KSEK -24,626.4).
Gross margin remained narrow due to the market-neutral trading strategy.
Equity increased to KSEK 21,520.0 (Q1 2025: KSEK 7,291.5) after SEK 81 million in new share issuances.
Cash and cash equivalents at period-end: KSEK 4,501.4.
Outlook and guidance
Asset management AUM in the 2/20 fee tier increased by over 90% as of 31 March 2026.
Forward institutional pipeline exceeds USD 300 million.
No material adverse changes identified; forward-looking statements remain on track.
- Major acquisitions and institutional inflows drove strong revenue growth despite continued losses.HILB
Q4 202531 Mar 2026 - Revenue up 482% YoY; major Bitcoin fund launch and Coin360 revamp set for growth despite Q2 losses.HILB
Q2 202422 Jan 2026 - Liberty Road Capital acquisition and platform upgrades drive revenue and AUM growth for 2025.HILB
Q3 202412 Jan 2026 - AUM surged 10x, revenue soared, and new platforms set up for major 2025 growth.HILB
Q4 202426 Dec 2025 - Q3 revenue up 63% YoY, AUM up 35%, and major platform expansion via Nordark and Syntetika.HILB
Q3 202528 Nov 2025 - Transformative quarter with strong revenue, major capital raises, and platform innovation.HILB
Q2 202523 Nov 2025 - Revenue up 277% YoY, Synthetica launch, strong fund returns, and leadership expansion.HILB
Q1 202510 Nov 2025
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