Goobit Group (BTCX) Q1 24/25 earnings summary

Executive summary

• Net sales increased to 30.6 MSEK from 21.5 MSEK year-over-year, driven by higher transaction volume.

• Operating profit was -3.4 MSEK, down from -3.1 MSEK, mainly due to higher operating and personnel costs.

• Earnings per share before and after dilution were -0.013 SEK, compared to -0.011 SEK a year ago.

• Swish payment services were terminated by the supplier after the period, prompting onboarding of new payment partners.

Financial highlights

• Net sales: 30.6 MSEK (21.5 MSEK prior year); operating profit: -3.4 MSEK (-3.1 MSEK); net result after financial items: -3.6 MSEK (-3.1 MSEK).

• Gross profit: 2.0 MSEK (1.3 MSEK); EBITDA: -2.4 MSEK (-1.3 MSEK); EBIT: -3.4 MSEK (-3.1 MSEK).

• Group equity at period end: 17.8 MSEK (9.2 MSEK); solvency ratio: 66% (47%).

• Liquid assets: 4.5 MSEK (4.1 MSEK); balance sheet total: 26.9 MSEK (19.5 MSEK).

• Parent company operating profit: -0.4 MSEK (-0.6 MSEK); equity: 28.8 MSEK (20.2 MSEK); solvency ratio: 62% (55%).

Outlook and guidance

• Actively preparing for MiCA compliance, enabling EU-wide service expansion via passporting from December 2024.

• Onboarding new payment suppliers to restore Swish and add payment methods after service termination.