Nordic Financials (NOFIN) Q3 2025 earnings summary

Executive summary

• Completed a share issue in July, raising 30 million NOK in new equity to strengthen the capital base and support investment activities.

• Initiated investment activities under a renewed strategy, focusing on opportunities with shorter and more industrial time horizons.

• Remained debt-free with low operating costs, maintaining a lean and cost-conscious structure.

• Conducted a reverse share split (175:1) to comply with Oslo Stock Exchange rules, improving share capital structure.

Financial highlights

• Reported no revenues for Q3 2025 as focus was on capital raising and restructuring.

• EBITDA for Q3 2025 was -189 tNOK, with a net loss from continuing operations of -3,015 tNOK, compared to -2,104 tNOK in Q3 2024.

• Cash and short-term deposits increased to 28,446 tNOK as of 30 September 2025, up from 656 tNOK at year-end 2024.

• Total equity rose to 31,749 tNOK at the end of Q3 2025, compared to zero at year-end 2024.

• Net cash flow from financing activities was 39,050 tNOK year-to-date, driven by share issues.

Outlook and guidance

• Actively pursuing several investment opportunities, with optimism regarding deal flow and access to capital.

• Strengthened capital structure and disciplined operations position the group for future growth.