H100 Group (H100) H1 25/26 earnings summary

Executive summary

• Net sales for the period May 1–September 30, 2025, reached 5.1 MSEK, up from 1.2 MSEK year-over-year.

• Operating loss (EBIT) was -12.3 MSEK, with 7 MSEK in depreciation; loss after financial items was -38.0 MSEK, mainly due to non-cash items.

• Rapid accumulation of Bitcoin holdings, reaching 1,046 BTC by September 30, 2025, funded by over SEK 1.1 billion in new capital.

• Strategic focus on maximizing Bitcoin exposure per share and advancing digital health business.

Financial highlights

• Net sales increased to 5.1 MSEK from 1.2 MSEK year-over-year.

• Operating loss (EBIT) was -12.3 MSEK, compared to -1.5 MSEK last year.

• Loss after financial items was -38.0 MSEK, with 32.7 MSEK from non-cash items.

• Earnings per share was -0.12 SEK, compared to -0.09 SEK last year.

• Solvency ratio at 71%, down from 95% year-over-year.

Outlook and guidance

• Plans to continue growing Bitcoin treasury, enhance liquidity, and introduce BTC-denominated financial instruments.

• Health-tech division to pursue platform advancement and strategic partnerships.