Goobit Group (BTCX) Q3 24/25 earnings summary

Executive summary

• Net sales surged to 186.43 MSEK in Q3 2024/2025, up from 28.0 MSEK year-over-year, driven by OTC expansion and higher order values.

• Operating profit reached 0.84 MSEK, reversing a loss of -2.7 MSEK in the prior year; net income after financial items was 0.65 MSEK.

• Strategic partnerships and initiatives included collaboration with JCI Stockholm and the launch of Sweden's first Bitcoin podcast for women.

• Enhanced compliance efforts with ESG data integration and preparations for MICA and DORA regulations.

Financial highlights

• Gross profit for Q3 was 6.42 MSEK, up from 1.96 MSEK year-over-year; operating expenses remained stable, with increased personnel costs offset by lower depreciation.

• Earnings per share improved to 0.002 SEK from -0.010 SEK year-over-year.

• November 2024 saw a preliminary EBIT of 4.5 MSEK and revenue of 163.4 MSEK, compared to a loss of 1.3 MSEK and revenue of 9.1 MSEK in November 2023.

• Group equity at period-end was 15.6 MSEK, with a solvency ratio of 64% (down from 92%).

• Liquid assets, including crypto holdings, totaled 9.2 MSEK after a one-time 2 MSEK payment to SFSA.

Outlook and guidance

• Focus remains on accelerating Bitcoin adoption, expanding services across borders, and ensuring compliance with EU regulations.

• MICA's passporting feature is expected to facilitate EEA expansion; application submission planned for Q2 2025.

• No dividend proposed for the year; emphasis on reinvestment and regulatory compliance.