Norwegian Block Exchange
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Norwegian Block Exchange (NBX) investor relations material

Norwegian Block Exchange H2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2025 earnings summary9 Apr, 2026

Executive summary

  • Transitioned from a Nordic crypto exchange to a European multi-asset digital finance platform, focusing on regulatory compliance and innovation in digital assets.

  • Became Norway's first publicly listed Bitcoin treasury company and sole European issuer of USDM stablecoin.

  • Expanded product offerings, including new token listings, DCA features, and strategic partnerships.

  • Submitted CASP license application under MiCA and began process for a specialized banking license in Latvia.

Financial highlights

  • Operating income rose 17% to MNOK 21.0 in 2025 from MNOK 18.0 in 2024.

  • Net loss improved to MNOK -14.4 after tax, down from MNOK -23.1 in 2024.

  • Operating deficit reduced by 38% year-over-year.

  • Total assets increased by 19.7% to MNOK 176.0.

  • Equity improved from MNOK 73.4 to MNOK 86.4.

Outlook and guidance

  • Anticipates positive operating result in the future, driven by new scalable products and expected profitability of associated companies.

  • Focus on stablecoin infrastructure, multicurrency card launch, and expansion into new markets.

  • Expects continued growth in digital asset adoption and institutional participation.

Latvian specialized banking license timeline
Revenue outlook for PLN and EUR stablecoins
Strategy to reach profitability by Q4 2026
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H1 202618 Sep, 2026
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