K33 (K33) Q4 2024 earnings summary

Executive summary

• Achieved record revenue of 375M SEK in Q4 2024, up 50% from Q3 and 337% year-over-year.

• Full-year revenue reached 969.5M SEK, a 528% increase from 2023.

• Positive EBITDA of 1.3M SEK in Q4 and 6.7M SEK for the year, reflecting operational efficiency.

• Net result for Q4 was 72 KSEK, a turnaround from -27.1M SEK in Q4 2023.

• Successful rebrand to K33 and integration of Arcario, with new partnerships and product launches.

Financial highlights

• Q4 revenue: 375,432 KSEK (Q4 2023: 85,730 KSEK); full-year: 969,515 KSEK (2023: 154,305 KSEK).

• Q4 EBITDA: 1,349 KSEK (Q4 2023: -6,974 KSEK); full-year: 6,654 KSEK (2023: -21,867 KSEK).

• Q4 EBIT: -533 KSEK (Q4 2023: -11,140 KSEK); full-year: -1,556 KSEK (2023: -70,879 KSEK).

• Q4 net result: 72 KSEK (Q4 2023: -27,119 KSEK); full-year: -3,870 KSEK (2023: -89,997 KSEK).

• Earnings per share before dilution: SEK 0.000 in Q4 and full year (Q4 2023: -0.003; 2023: -0.006).

Outlook and guidance

• Focus on expanding partnerships with banks and financial institutions in 2025.

• Increased marketing investment to drive future growth.

• Anticipates strong revenue growth from partnerships becoming dominant over time.

• New product launches expected, including synthetic limit orders, lending, staking, and enhanced custody.

• Positive market outlook with regulatory improvements and institutional adoption in crypto.