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Norwegian Block Exchange (NBX) investor relations material
Norwegian Block Exchange H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Total operating income rose 14% year-over-year to MNOK 11.1, driven by listing income, staking, and fees.
Ordinary loss before tax improved by 20% to MNOK -9.8, but the pace of improvement is unsatisfactory.
Credit card program remains a net negative; excluding it, net loss would have been MNOK -3.9.
USDM stablecoin launch delayed, with revenue potential expected to materialize in 2026.
Strategic partnership and share swap with Nexpay increased costs and postponed some initiatives.
Financial highlights
Sales revenue increased from MNOK 5.2 to MNOK 9.1 year-over-year.
Other operating income decreased from MNOK 4.5 to MNOK 1.8 due to reclassification.
Payroll costs rose 14% to MNOK 6.4; depreciation increased 36% to MNOK 2.1.
Net financial items improved from MNOK -3.6 to MNOK -1.1.
Total assets grew from MNOK 134.0 to MNOK 158.9; equity increased to MNOK 73.3.
Outlook and guidance
Stablecoin USDM expected to become a key revenue driver in 2026.
Focus shifting to projects with better ROI after credit card program pause.
Anticipates increased institutional and retail interest in digital assets.
Next Norwegian Block Exchange earnings date

Next Norwegian Block Exchange earnings date

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