Goobit Group (BTCX) Q2 24/25 earnings summary

Executive summary

• Net sales for Q2 2024/2025 reached 50.8 MSEK, up from 26.7 MSEK year-over-year, driven by strategic OTC expansion.

• Operating profit was -2.9 MSEK, down from -2.2 MSEK, mainly due to higher operating and personnel costs, including a one-time 2 MSEK SFSA expense.

• November 2024 saw a preliminary positive EBIT of 4.5 MSEK and revenue of 163.4 MSEK, a significant turnaround from a loss in November 2023.

• Goobit is enhancing payment options after Swish service termination and has launched SEK card payments.

• Partnership with JCI Stockholm aims to expand access to the Bitcoin economy for entrepreneurs.

Financial highlights

• Net sales: 50.8 MSEK (Q2 2024/2025) vs. 26.7 MSEK (Q2 2023/2024).

• Operating profit: -2.9 MSEK vs. -2.2 MSEK year-over-year.

• Net income after financial items: -3.0 MSEK vs. -2.2 MSEK year-over-year.

• EPS: -0.01 SEK vs. -0.008 SEK year-over-year.

• Liquid assets (including crypto): 8.9 MSEK at period end, up from 5.1 MSEK.

Outlook and guidance

• Preparing for EU MiCA regulation, with a license application planned for late Q1 or early Q2 2025.

• MiCA's passporting feature offers expansion across the EEA; Goobit is engaging with regulators.

• Ready for the Transfer of Funds Regulation (Travel Rule) effective December 2024.

• Exploring market opportunities outside Europe.