Lokotech Group (LOKO) H1 2025 earnings summary

Executive summary

• Raised NOK 139 million in a rights issue, fully financing ASIC chip production and mask set at the foundry.

• Secured USD 7–13 million in pre-orders for proprietary Scrypt/AI ASIC miners, validating market demand.

• PowerPool subsidiary achieved 7.72% compounded monthly revenue growth and distributed EUR 400,000 in dividends in H1 2025.

• Launched Arctic Core data center services and advanced development of a 2–7 MW facility in Kautokeino.

• Board and advisory board strengthened with new members possessing deep industry expertise.

Financial highlights

• Group revenue for H1 2025 was NOK 5,232,934, up from NOK 10,320 in H1 2024.

• Group net loss for H1 2025 was NOK -19,417,027, with operating loss at NOK -18,240,776.

• Parent company revenue decreased to NOK 2,917,707 from NOK 3,660,848 in H1 2024.

• Payroll costs included NOK 5,591,971 in non-cash stock option expenses.

• Group cash position at June 30, 2025 was NOK 52,387,488, up from NOK 12,853,176 at end-2024.

• Equity ratio improved to 87.46% for the group (from 68.44% at end-2024).

Outlook and guidance

• Tape-out for the Scrypt/AI ASIC chip is estimated for September 2025, with mass production to follow.

• Significant market interest expected to increase upon product delivery.

• PowerPool growth expected to accelerate post-SOC certification and with new hosting services.

• Arctic Core to commence development of a 2–7 MW data center in Kautokeino.

• Market development remains uncertain due to industry volatility.