Goobit Group (BTCX) Q4 23/24 earnings summary

Executive summary

• Net sales for Q4 2023/2024 rose to 39.0 MSEK from 20.9 MSEK year-over-year, with operating profit improving to 0.5 MSEK from -3.9 MSEK, driven by higher transaction revenues and gross margin.

• Full-year net sales reached 115.1 MSEK, up from 99.1 MSEK, and operating profit improved to -7.5 MSEK from -15.7 MSEK, mainly due to cost reductions.

• Strategic initiatives included the sale of Goobit Exchange AB, partnership with Stripe for payment integration, and expansion of OTC trading services.

• March 2024 marked the first positive EBIT in 27 months, attributed to one-time revenues from Bitcoin price developments.

Financial highlights

• Q4 income after financial items was 6.4 MSEK, including a 6.0 MSEK net sale profit from a digital platform.

• Q4 EPS was 0.03 SEK, up from -0.03 SEK year-over-year; full-year EPS was -0.005 SEK, up from -0.08 SEK.

• Group equity at April 30, 2024, was 21.5 MSEK (12.3 MSEK prior year), with a solvency ratio of 83% (68%).

• Liquid assets at period end were 9.9 MSEK, up from 4.2 MSEK.

• Cash flow from operations for Q4 was 7.2 MSEK, compared to -1.8 MSEK in Q4 last year.

Outlook and guidance

• Preparing for EU's MiCA regulation, aiming to leverage "passporting" for EEA-wide service expansion.

• No dividend proposed for the year.

• Anticipates increased gross margin from Stripe integration and potential revenue growth from expanded OTC services.