K33 (K33) Q1 2025 earnings summary

Executive summary

• Achieved 20% quarter-over-quarter revenue growth to 450M SEK and tripled revenue year-over-year, outperforming a 10% market activity drop.

• Announced a strategic focus on Bitcoin, positioning it as a cornerstone of future financial systems and business model.

• Emphasized institutional-grade crypto brokerage services for high-net-worth individuals, family offices, and corporate clients.

• Onboarded the first Norwegian bank as a corporate client and developed a brokerage-as-a-service model.

• Sold entire stake in Finpeers SA for 1.64M SEK, generating a 780K SEK profit and strengthening liquidity.

Financial highlights

• Group revenue rose to 450,165 KSEK in Q1 2025 from 151,658 KSEK in Q1 2024 and 375,432 KSEK in Q4 2024.

• EBITDA was -2,692 KSEK, down from 4,189 KSEK in Q1 2024 and 1,349 KSEK in Q4 2024.

• EBIT amounted to -4,586 KSEK, compared to 2,007 KSEK in Q1 2024.

• Net result for the period was -4,033 KSEK, down from 5,538 KSEK in Q1 2024.

• Earnings per share before and after dilution were SEK -0.000, compared to 0.001 in Q1 2024.

Outlook and guidance

• Preparing for MiCA license to enable pan-European scaling and facilitate partnerships with traditional financial institutions.

• Plans to accelerate growth through partnerships, product expansion, and a Bitcoin Treasury strategy.

• Regulatory developments (MiCA) and institutional adoption of Bitcoin expected to support long-term strategy.

• Anticipates significant revenue potential as digital asset wealth management grows, with a $100 billion global and $25 billion European market opportunity.