Huddlestock Fintech (HUDL) Q2 2026 earnings summary

Executive summary

• Achieved stable EBITDA in Q2 2026 with strong cost discipline and a 30% year-over-year revenue increase at Visigon.

• Advanced GIGA Broker white-label investment platform toward public launch in Germany in October, following extensive user testing and live trades.

• Expanded Investment-as-a-Service (laaS), consulting, and sustainability reporting as core business verticals, with a focus on European growth.

• Acquired DoLand assets in Denmark, securing a five-year agreement with Merkur Andelskasse for sustainability reporting services.

• Expanded sales pipeline and increased cross-country collaboration, leveraging social media and industry events for brand awareness.

Financial highlights

• Q2 2026 total operating income was NOK 9.0 million, down 36% year-over-year and 13% sequentially.

• Operating expenses decreased by approximately 30% sequentially from Q1 to Q2 2026, down to NOK 15.2 million from NOK 16.4 million.

• EBITDA for Q2 2026 was NOK -6.2 million, stable quarter-over-quarter and improved from NOK -6.6 million year-over-year.

• Net result for Q2 2026 was NOK -11.9 million, a significant improvement from NOK -35.6 million in Q2 2025.

• Ended Q2 with NOK 9.6 million in liquidity reserves, supported by new loan facilities.

Outlook and guidance

• GIGA Broker public launch planned for October 2026, targeting leading market position and commercial ramp-up.

• Investment-as-a-Service business area aims to become EBITDA and cash flow positive in early 2027.

• Visigon targets revenue above NOK 100 million and EBITDA margin above 20% by 2028.

• Continued prioritization of commercial expansion and conversion of sales pipeline into customer agreements.

• Focus on expanding outside the Nordics, leveraging new acquisitions and existing networks.