So great being here again. Time travels fast. It feels like yesterday we had the last report, actually, and now we have been working hard the last days to finalize everything here for a very exciting year of change and many challenges, as many of you know. So we are thrilled to talk more about that and to give you a little business insight report of what has been going on and wins, and status, and progress, and also coming to the financial part of that. And then after that, we will come to a question session, which we do at all times. So you will don't forget to look there in the tabs there in the settings on the meeting where you have Q&A.
There you can write your questions, so you can prepare that. So don't miss out on that. And we are also recording this session, by the way, for all of your information, and it will be put on our YouTube channel later on. So you can watch this meeting later, or you can share with someone else that you think would take interest in the presentation. We encourage that, of course, because the more we can spread the words of Quickbit, and things that we're doing, the happier we are, basically. So great. For those of you who may be new to me, my name is Daniel Sonesson. I am the CEO of Quickbit Group, and together with me, I'm thankful to have my CFO, Daniel Boettge.
So, yeah, it should be easy to remember our names. Yeah, let's start. Maybe you could help me with the changing that slide there. Thank you so much. Yeah, so from dependency to growth, I mean, you could summarize this year quite simply in a way of what we have been doing. We come from a time where we were dependent on many things, and we realized we had to change as a company. We had to go through a pivot and leave an old infrastructure, a transactional infrastructure behind us, which made us work and act in a certain way, and it did not really suffice in the way that we needed to grow as a company, to provide us with the right opportunities.
And it did not really give us a way to scale and grow, also with new contracts, and understanding the market's demands and needs of what was expected from us as a company so that we actually could progress going further. So that dependency level was not only a blocker for growth and innovation, but also for getting new clients, for understanding what was needed from us on a product and innovation point of view, but also from a competence and recruitment point of view. Many blockers, basically, to understand how to go to that, and we have managed to surpass that, and we are. I would say we've come a long way now in this pivot that we have referred to as Quickbit 2.0 also in reports and in formal communications. So very good news.
Yeah, so we can continue there. I am, of course, as the CEO of Quickbit Group, delighted to be able to announce to all of the owners that this is the third consecutive quarter that we can say and announce that we have seen a more than 100% revenue growth. Obviously, extremely important for us to be recognized and seen as a company that not only be trusted with larger transaction chains, but also becoming a preferred supplier for handling those. And that has, of course, meant a lot of work to be regarded as that actor.
It's everything from that you notice that clients are being handled safely and with trustworthiness, and that you see good conversion rates and acceptance rates, and that we also notice that we can handle and scale the capacity of these transaction structures and the pace and that has, of course, meant when you rebuild and you start doing your own solutions, the stress tests, and of course, working with companies with very high demands on what they expect on the processing part, and how that actually works, and how those things make out as performance in the product environment in itself, is extremely important, so based on that, that has been an important part, and of course, that takes time to understand from your test environment and really delivering upon your promise to your clients.
So I see this as a very strong testament of our success, and I'm very, very happy to tell the owners that we are continuously growing for the third consecutive quarter. Yeah. And also, of course, if we look at this last quarter, and precisely as we talked about in the last quarterly report, I think I really want to emphasize the strength-to-strength aspect when it comes to this, that we said to the market, and we said to you, that we regard that 100% growth is going to be possible. We can achieve this goal.
As we also talked about many times before, I believe it's extremely important that we stay true to our promises, and we try to really validate and qualify the promises that we deliver to you as a company. We want to communicate trustworthy to you in where we are and how we see that we can suffice with where we're going. Of course, then now when we see also that we have come to a result of 121% revenue growth, I am delighted to be able to well to conclude to the owners that we have delivered on this, and we beat those expectations. I think it's also a testament that we're doing something right in all aspects and demands of the business.
And that is what we aim to continue doing, to continuously improve, to work close with our clients, to understand their needs even better, to see that we learn from all of the things that we're doing with various projects, and how we improve our infrastructure, so we can deliver even higher quality and improve our value proposition even more to coming clients, that also are considering us as a new supplier and a trustworthy preferred supplier for their transaction business. So extremely good, and very delighted to announce this. And of course, you can press again there, actually. Yes, I mean. So we apologize if we broke someone's eardrums or our speaker for this little fun thing that we tried to implement here. We can change that again here. So maybe some of you saw this yesterday already.
I think this is something that I really would like to talk a bit about. We did mention in our press release yesterday bit of the details here. I think this is a very big signal that Quickbit is growing and growing as a company. We're going from strength to strength, also in providing some of the pickiest and most demanding clients on the market with strong turnovers. They have very strong demands on how they wish to work and how processes are going to be, how our settling routines work, and how products are going to be implemented. The fact that we created a payment only one year ago in general seeing to that we moved the needle on owning our own product portfolio.
To do that in only one year, being able to land a client with such dignity, I think that is a very strong testament of where we are going and the potential that we see with our product portfolio that we are developing here at Quickbit. So I think, that is something that I'm extremely proud about, as the CEO. And this is about creating and nurturing, and continuously developing, and improving, a high-end payment experience. This is about seeing to that we're never gonna be happy enough and stop developing and innovating, partly how it can be integrated, how we can look at the capacity. But also, I would like to highlight the way of how we are willing to adapt and adopt tailored aspects of these product portfolios, so that we can close deals like this.
And that gives us a very competitive value proposition. And I also think that this deal will help us and enable Quickbit as a company to deliver even stronger and be able to close deals like this going forward. And we have many ongoing conversations with exciting clients that we are definitely regarding as high potential clients. And we are getting stronger, we're getting better, we're getting smarter, we're getting faster, and we're learning. And I think this is a fantastic sign of that.
So the little visionary tagline there in the bottom, I think that's an important part, too, for me, as the CEO, to say to the owners, that we see that we are working continuously on minimizing that gap between all of this money invested in cryptocurrency worldwide, and all of these owners who want to use these currencies in consumption. We want to minimize that gap with the global merchant networks, and this is great. So we're going to see more of this, and super happy for announcing these news. So yeah. When it comes to revenues, we've talked about this a few times now.
And of course, we come from a troubled background and a year of challenges, which we all know, and which we talked about several occasions. But we have definitely taken large steps going forward in how we have improved, so that we actually can take and can handle with efficiency and smartness and deliver upon stronger transactions, so to speak. So we are continuously growing, and that is, of course, what I want to say and delighted to be able to announce to all of the owners. We see a very positive trend and we are continuously growing.
We see better stability, and of course, having pivoted the company into be an organization, being able to more work on and facilitate and develop our future product portfolio, this also provides us a more stable and better balanced cost part, which is going to give us the platform we need to continuously improve on the revenue side, so I'm very happy to show this big trend, and I hope that you are as well, seeing the development and the uptake that we have done as an organization and as a team.
Yeah, and the last part, and I did actually show this for the first time also in our last quarterly report, and that is also why I think it could be interesting to show this again, to show transparency of how things are at Quickbit as an organization. Because I mentioned team as the last word there, on the last slide, and there's a reason for that. It's because people are doing well, people are feeling great. We have strong belief within the company. We work as a collaborative unit with self-belief, confidence, and a will and desire to really take on the challenge that we're doing, and I couldn't be any happier.
Also, the last thing I'm gonna say, as a testament to how big that really is, and that is, that I can also announce, as the CEO of Quickbit Group, that June, the month of June, showed black figures. We turned red to black, and that's s uper is amazing to say. So, I'm gonna stop there, and I'll hand over the word to you, Danny.
All right. Thanks. Thank you. All right. Daniel already showed you and talked a little bit about the revenue development. The average daily volume is a KPI we use. And here you can see the development of that KPI throughout this fiscal year that we're just left. And this is in euros, so this means that the transaction volume at the end of June has reached EUR 600,000 per day, which is an average throughout the month, of course. And this is actually the same level of revenue as the previous fiscal year reached. So we're very happy to have regained the ground as much. Yes. We have received some questions concerning the margin, which is lower this quarter.
This is due to we have a slight increase in direct processing costs. Some of them have been made because we want to build a more stable and flexible partner infrastructure, and most of the difference is consisting of one-time costs, but we're also seeing increased volume in lower-margin products, and this is also part because we are making our offerings a little bit more competitive, and that also has an impact on the margin. Right. When it comes to the OpEx, we have a slight increase in this quarter, especially compared to the last one. This is planned in preparation for continued growth. Staff increases, which are necessary. During the fall, we were quite undermanned, I would say.
We also have several one-time costs and year-end costs that are impacting this quarter, and one thing that we have not activated any costs or salaries into the balance sheet this year at all, which have been made all previous years, or most of the previous years anyway. These are the actual cost numbers that you can see. We're still very much aware of the cost level in total and all the way down to the floor, so everybody is motivated in monitoring and controlling costs, which we will continue going forward. You can see in the report that our liquidity has increased significantly during this last quarter.
I would say that these are the factors that impact the cash flow. Of course, the revenue, which we've already talked about, the cost reduction, which has been well mostly an action that we undertook last year, and the issue of shares, of course, during the fall. We have also worked very hard to reclaim our external claims wherever possible. We have had some taxes returned to us, and we have also had taken some loans at very favorable conditions. So these are the factors of our liquidity, and at going out of June, the liquidity was more than EUR 3 million, which is the most I've ever seen in the accounts since I joined, anyway. All right. Yeah, that was what we prepared.
Mm-hmm.
And now we will take questions.
Now we open for questions.
Close this one.
Maybe don't get going here.
Okay, should I take the first one?
Yeah.
Yeah. All right, so short-term debts increased with about SEK 50 million during this quarter. And this is short-term debts is, I would say, mostly due to... This is not loans, this is something that is merchant debt, which is a result of the increased volume. And of course, has a corresponding claim on the asset side of the balance sheet. So this is mostly a result of the increased revenue. Okay, right. I'll read the question so you can... "We understand that it's impossible to continue to grow by 100% every quarter. We would be satisfied with 20%-30% growth as well and how you see the future concretely. Finally, we think that you're doing an awesome job." Yes. All right.
Eric Asping was the one asking that question, I think. Can you go down to the question again, so I can see it? Because now when you approve new questions, it got lost. Okay, thank you so much.
Yeah.
Thank you. Okay, first of all, thanks for this question, and yes, of course, growing 100% each quarter is extremely challenging, I would say. We have a strong belief and focus on continued growth. We intend to continue growing. We ask ourselves that question every day, if actions we take, from a revenue perspective, product or marketing perspective, will lead to that we get a higher chance of getting more transactions, from clients that we already have, if it increases our chance to become a preferred supplier for new clients, and how we can utilize that, so growth is our absolute focus, and meanwhile, doing that, tech is doing everything they can to see to that our products also develop, and so they can actually handle that capacity.
I'm happy that you are happy with 20%-30% growth, because I do think that growth also strains and costs a lot at the organization, as we all know. It does, and closing new clients is also even more straining. Some clients and sales processes are longer sales cycles than other clients. It's also a matter of the infrastructure and how the capacity works in total, but also which revenues that you want, which you think are good, and that are solid for the business. It's also part of compliant and legal issues, of how we can handle and build our company responsibly, so we can fulfill the promise in general for the business. Thank you very much for those very warm words of our continued work on the business. I thank you very much for that. Maybe you can read the next question, Daniel?
Yes.
And I can answer it as well, if you like.
Yeah, yeah, please.
Correct, also a question from Eric here. "Why have you, why have you chosen not to give us a guide forecast on, how this quarter, the current quarter has done so far?" As you know, everybody, we have, the previous two quarters, we have given this estimation. We have not done so this time. This is intentional. We have not forgotten. So, I can say, just stay tuned at this moment. All right, so,
I think you are saying one thing there because the follow-up part there, has the growth died off?
Mm.
It has not died off. We are growing.
We think we believe.
We have a strong and solid base, which is continuously growing. But we have a very strong promise also, that we want to communicate things to the market and to you owners, that you can trust. We believe it's extremely important. So because of that, we want to know what. So even if we are solid and full of confidence of seeing that this business is continuously going in the right direction, we don't want to give you a measurement of exactly how much before we actually can stand by that promise. So that is my promise to you.
Yes
That we will communicate what we can stand for in that aspect. I hope that was an answer to the question also. Please, and if you have a follow-up question, please ask that one as well.
Okay, so, the same question more or less from Marcus. I hope it has already been answered. The next question is from Seb double B. You're saying that we have made a profit in June. Has this continued into the new quarter, or are we expecting profitability during the coming quarter, the upcoming quarter? And this is also we will give you more or less the same answer as the previous question. We cannot give you a prediction here and now, but we can tell you that our aim has been to reach profitability, or first to reach balance and then profitability. And this is our intention, but we cannot give you a forecast right now.
Mm. That's the same question.
Yeah.
I think that question was the one we just answered, so.
Yeah. Let me see. Okay, Dublan however. Dublan has a question. Will you guide one to two years ahead, and where do you hope to be when it comes to turnover and profit? Well, I would say right now, we will not give any predictions at all, not even for the current quarter. But well, to make predictions two years into the future at this point would not be responsible-
Mm.
Given that, the situation is new, the clients are new, the products are new.
Mm.
So it's everything. I would say that it will not happen, a two-year prognosis will not happen within-
Mm
Within this year anyway.
Mm.
But, uh-
Mm
We will, of course, keep the question in mind.
Yeah, and I mean, the market potential is immense. And at the same time, I think it is. I believe it's extremely great. Obviously, I really do think it is to have reached this level on this short time on products that have not been. We have done everything we can, and the team has worked really, really hard to get that traction with big clients, and we're reaching high transaction figures. So we're doing something right. And that said, we are full of confidence that we are gonna continue to grow, as said before.
However, we need to also understand different client segments and industries to the best extent, and also see if there are different kind of buying behaviors that we will see on our services and how that impacts our business. So based on that, I really want to be a bit cautious on that before we know more, so that we also can stand by that promise to provide you with accurate numbers, rather than say something high-fly that we don't deliver on, because that I do not want, but responsible is the key word here, I would say, and I hope that makes sense to you. If you have any follow-up question on that, please, ask again. Thank you.
Yes, next question, also from Seb. How big was the loan that you, that we, took? Is it the same that was spoken of in the third quarter, EUR 500,000, or have you, have we, taken any more loans since then? The answer there is that it is the same one. It's the only one at this point. All right. Dublin, who do you consider direct competition with Quickbit?
This is an exciting question. Thank you for asking that. There are, of course, actors such as those that we defeated. When it comes to Inet, for example, they pushed out a former supplier, BitPay, and so on, and they choose to work with Quickbit. That's great. So there are one segment there, but there are also other segments depending on how clients want to diversify their portfolio when it comes to payment solution, payment technology, and how they want to operatively divide the revenue streams that they have with various kinds of payment methodologies. In that sense, we also are a substitute to other payment actors.
But we also, of course, when it comes to our infrastructure and how we are gaining more and more traction from the end-user perspective, so we are growing into that part, and we want to grow in that part, then we also open the door to other actors who are working with people and aim to become a home for them, where they can use their cryptocurrencies and digital assets in pure consumption. So that means that we are, depending on the segment in our product portfolio, we have different competitors, and we are also fine-tuning this strategy. And this year is going to be a lot about defining that even clearer and choose the key segments and target clients even clearer, and nail down our value propositions and even clearer.
So we are ready for that now after one year of very, very fierce product development and fierce sales periods and customer success to reach certain levels. We need to learn more and understand more, so we can become even stronger and even better. And that will also tell us and see who we are battling more on an international aspect, because partly with licenses and partly how we are growing now with Quickbit Pay, and we see how that platform that we have self-developed and it's self-owned, we see the increased traction.
We're also getting other types of questions, which have immense potential and opportunity, but some of those also contains a much stronger need for analysis and understanding of all of the aspects of the market that you enter when you take such decisions. So we will carefully qualify those things before we enter those deals. So we are becoming more intelligent by the minute, I would say, when it comes to the larger business potential going.
Right. All right, next is a question from James. "Turnover was doubled as promised, but the margin was halved, which is a failure, and it is pointless to increase revenue if the margin can't be protected. What is the plan ahead? Please give us detailed information on how you intend to protect the margin ahead, and at the same time as we're continuing to grow." I would say, of course, we agree that the low margin of this quarter is a failure. We can't say anything else than that, but there are mitigating factors in it, which I've already, I believe, accounted for. The margin, the increase in low-margin products is, of course, something that represents some of the revenue growth.
But, well, the margin expectation is, of course, I would say right now based on the track record, it might be adjusted going forward. We don't have an estimate on that right now, so, I'm afraid it's going to have to be sort of a semi answer to that. But, we have our eyes on the margin, and, we are all If we can choose, we always choose higher margin deals and products.
Yeah, I would like to say one thing also there, and I need to be a bit careful on going into details here. While the margin is important, it's also extremely important to understand that there's a battle for owning the end customer relationship. So it is not entirely accurate that it's not important to increase the transaction and the relationship with the amount of people that are using our solutions, as long as we don't protect the margin. It's a matter of how we continuously improve and strengthen our footprint with people using the Quickbit solutions, meanwhile working up our profitability.
And those solutions that we are looking at will move the needle on and transform the business in a very positive manner on how we can utilize and capitalize upon those relationships. And I cannot go into detail more now, but I just want to say that the fact that more and more are using Quickbit and getting in touch with our solutions, and in the way that we are strategizing our product portfolio, is going to be an immense business opportunity for the company going forward. So I just want to say that, and say that while we have a strong look on the margin from an operational financial perspective, and also being very important, it's not entirely accurate that it doesn't matter. I would say it's completely different. It matters a whole lot, I would say. Thank you.
All right, another question from Dublin. "Could you please explain more detail how customers how they come to or how they find Quickbit? How do they make their way to us, and how do you recruit more quickly?" And I guess then, Dublin, you, you're talking about, like
Transactions or end customers or-
End customers in the form of consumers, I believe.
Yes, and I mean, we are working in different aspects. We are partly selling our own solutions, so that we are doing partly through referral programs. We are doing it through our partnership networks. We are doing it through our own very qualified and competent sales and growth team. And we also works a lot with merchant networks, basically. So what we are doing there is also that we are continuously working to adapt our solutions so that we provide the values that they wish to see, and doing all we can for those to stay and see us as relevant. So, and many of those stronger houses have quite big portfolios, so it matters quite a lot on how we position ourselves there, in everything from what we...
put in as a solution, and how we scale that. Do we offer that to 10 or 20 or 40 clients in that certain network, or only to two or three? Do we use certain features that we have in a product that are more as premium parts? Do we take charge extra for that, and so on? So it's a continuous, I would say, negotiation at the same time. And, of course, that is something that we look at every day, elaborate on, on how we can do that. Do we now increase the transactions? Is that good for the do we or do we rather want to hold back on that and gain transactions that are stronger, bigger, better?
I would say, it's, it's not a secret that we have also started to build a marketing department which is quite new.
Yes.
Without going into detail, you can expect some activity in the future when it comes to-
Yeah
... this.
That is also an important part. Good, thank you for mentioning, because that's also an important aspect. We have, based on the fact of where we come from, we had not a structure in place before where we backed off our own clients. So I would say that this new part of the structure also gives us the opportunity, and of course, it's important that we start using our channels more for lead generation and so on. So we're putting up a more modern approach to that, I would say. I hope that also answers your question. If it wasn't, please ask again.
All right, so next question from Marcus. "Yesterday you signed a contract with Inet. How many more contracts like this size of company do you expect to gain in the close time?
Yeah, so we have quite many conversations ongoing. It's always hard to answer questions such as close time. But we see an increased interest, and relevance with Quickbit, and of course, the result of Inet yesterday being one of the more peak year, taking lots of turns, and we had to put a lot of emphasis in the work, how we provided them with good value. It provides us also with a strong, and a chance to showcase that to other clients. I'm not going to go into detail, however, and say how many of those that we believe we can close in close time, because we will see. It is a focus for us to continue that work and close more of those clients and utilize all these learnings and the power we get from closing that deal to also close more. That is what we're working fiercely on.
Yeah. And also, we have the commercial aspect when it comes to communicating signing new clients. Of course, this is a cooperation. It needs to be approved by the client. So, yeah, even if we would like to, we cannot always just shout out every signing, but it's also an ongoing work our sales team is developing and learning a lot and starting to show results.
Yeah, absolutely. Maybe I can answer the other question there. Oh, I think it vanished. I'm not sure what happened now with this.
This one is-
No, yeah, I think, or maybe it was another question. I think it was something about Paysecure, right?
Mm-hmm.
Yeah.
See here. We'll do this one.
Okay.
Okay, I would say question from Dublin here, more or less, the question is, will we communicate to the market if more big clients join up or if we sign them? And that is, of course, a decision made by the marketing department. Like, do we want to showcase that this client is one of our clients, which we mostly want to do? Or, and does the client agree to it? Due to the nature of our business, we need to. We can't just communicate without this agreement.
And I think this, it's good that you ask also, and that we can bring this conversation up again. I remember, we had a conversation similar to this in the last quarterly report. If it was down to us at Quickbit, we would like to communicate as much as possible with about as many closed deals as possible and contracts as possible. However, many of our clients, and specifically, I would say, those of larger dignity.
Yes
They are extremely conservative when it comes down to what they want us to communicate and often, we suggest actually quite a lot of different, "Maybe we should say this, and we can use this angle." But, they are conservative because they do not want, sometimes their competitors to understand of, or be able to dig into details on how their transaction chains are working exactly. Because it's the pricing model and how they fine-tune and optimize the partnerships to see to that they get certain margins on, is part of their secret, and they do not want to expose that. So, that is also why we don't communicate some of those things.
I've had questions, many times actually, from some of you and others, about, "When will you communicate this, and when will you communicate that?" If it was down to us, we would communicate much more frequently when it comes down to that part. However, and this is a very positive thing, and I'm not sure if we talked about this last time. We believe that some of the things that we're doing now will provide us with better opportunity going forward to be able to communicate more. Because we will have solutions that will provide different kinds of value. I don't want to go into much detail about that right now, but... We're working on this.
We have our eyes on this, because personally, I believe it's extremely important with frequent market communications, and talk about what we're doing, how we progress, so that you feel safe, and that everyone, and also new investors feel safe in that they have done the right thing to put their money in Quickbit, and they should believe in us as a long-term, very exciting growth prospect. So this is a part of that, and when we're looking at our new solutions and the product portfolio, this is one aspect that we take into account to be able to come to that. So I want to rest assured that we are thinking about that. When it comes to these other aspects, we are, we need to handle that, and mitigate our client relationships with respect and, and quality. Mm-hmm. Yes.
Okay, Dublin, which countries do Quickbit operate in today, and how does it look concerning new licenses in other countries? How do we speed the future vision of becoming a global actor?
Mm-hmm.
When it comes to licenses, we have licenses spread out through Europe today, and we operate mostly in the European Union through several subsidiaries. I can't tell you exactly which markets we exist in.
Mm, mm
But we have a good spread throughout Europe. The MiCA legislation that is, coming up, I won't go into detail there, but it will give us, once we have one license, probably from Sweden, then we will be able to operate in the entire EU, and possibly other territories as well, using that license. Which will then that we will no longer need the subsidiaries or the licenses in the local markets.
Yeah, and Quickbit Pay also provides us with the other opportunities, with some exceptions, of course. But, aside those exceptions, we are largely, very international and global with that solution.
Yes.
It's super exciting.
And then when it comes to looking at the U.S. or Asia, then we'll have to get back to you-
Yeah
... on that.
Mm.
All right. Okay, question from Eric:
Yeah.
Oh, okay. Sorry, Seth first. We can't provide a forecast, but can we mention anything concerning July and August, which are pretty much over? Have they developed better than June? I will actually answer the next question as well in the same. The question from Eric is: "Is your goal to be able to give us a forecast during the quarter last month, or should we assume that we will have to wait until the next report in three months?" I would say, as I said, there might be a financial update in the near future. I can't promise it, but stay tuned, and we will do our best to comply.
We're coming back from vacation full of confidence and happiness at Quickbit. We look forward to provide you with these news, of course.
Yeah, exactly. All right, so, next question from Jan: "In which industry is the majority of our clients today, that uses our payment solution?
Yeah, this is also the same that we have talked about in other quarterly reports. We are in general strong with gaming, and e-games, and e-sports, and iGaming, and those. We have, of course, a strong balance there, but we are growing quite a lot also now in the retail industry, and the various segments of that. So we are changing and transforming as a business with a very interesting pace, I would like to say.
Yes. And, another question from Jan: "Are we still calculating a 4% margin, or has that changed? We can't really answer this right now, either. As Daniel mentioned, we are not super focused on the margin. We have several products right now which are in play, which have different margin. And yeah, I know. Yeah, but we will. I will consider this question, and also, we might provide some information on expected margin going forward. But right now, I can't really answer that. I'm sorry, Jan.
It's a part of our competitive value proposition making of how we want to work as a company, and what we deem to be our most important business aspects. I think that it's a matter of if you want to own the relationship with the end client, then which values do you want to give and provide to that end client. And how long do you believe that user life cycle is going to be. Do you want them to come to your place first, and initiate 10, 20, 30, or even 200 or 500 transactions through you with different margins. So what are you willing to invest in order to come to that place.
It's a matter of. It's always hard when you're in a change period, and we have now drastically put up new products in order to turn around the business. It's always a give and take on what we can do in order to see that we move the needle and actually come to that and being preferred. The product portfolio is not going to stop at only a one-time serve. We have ideas on how we can utilize that and provide stronger business value, which provides us as a business with a different opportunity. We also see that is important, because that also creates stronger client intimacy and stronger client loyalty, and it will create a chance for us to provide additional services.
To such a growing customer base, so that that's all part of this, this aspect of the margin, and I hope that that makes sense, and I'm watching my words, because I do not want to say something which I cannot deliver on later, but those are aspects, part of the conversation, basically, and I hope that if you have any follow-up questions, please ask them. Thank you.
All right, next question from Marcus. "Is there any ongoing discussions with bigger investment companies to take a position in Quickbit?" This is, I would say more a question for the board. We are continuously discussing with the financial partners in the financial markets. I don't have an update to give right now.
You have to onboard by the investor in case.
Yes. Send the question to the board by the email investor@quickbit.com. All right, Marcus: "In Quickbit App, there is the possibility to buy crypto using, you know, a credit card, the euro account, or Apple Pay. But to buy euros is only possible via a bank transfer. I would like to see the same option to buy euro. How do you view this?" So to buy - to pay with your credit card to get euros into your euro account-
Yeah
... in the app.
I would say that we're in a very exciting phase right now, where we're looking at the prioritizations in our entire product portfolio, because we are redefining the product strategy based on what we think will provide us with a whole new set of experience for users, but also new business opportunity. And now, when we talk about this, very exciting, absolutely, and I thank you for asking. It's a exciting feature, but I cannot go into detail on certain features right now, based on things that we're doing, which are big strategic projects, which we have qualified towards certain business opportunities, and how we believe that will benefit the business, partly from sub-optimizing that product, but also what that will provide the business with bigger opportunities and potential as a whole.
So, whether I can say personally, I think that simplicity for users is always going to be majorly important for us as a business. We always want to take those things to account. I cannot comment on if we will take that step or any other step when it comes to that or when or so on, because it's all part of a bigger plan, so to speak. Because of that, I rather not comment on that specifically, and I hope that makes sense to you, Marcus. But thank you for asking.
Mm, we take it to the team.
Yes.
All right. What else can we see here? A question from James. "With all due respect, this is not good enough. The market has developed an enormous respect for Quickbit 2.0, because we have commun- because you have communicated to us before. We're taking a step back, and the market does not appreciate that. Look at the stock price. It is going backwards. Please note our displeasure." Yes, of course. I would also say that this is more a question for the board as well, but it is not our job to... We need to consider, of course, like corporate confidentiality, and we also need to respect stock market rules. So we cannot take action based on.
We have, of course, noted the price development during the day, but that is not our main concern when deciding the communication, unfortunately. We approve your displeasure, James... We take note of it. Sorry, we-
We don't approve.
We don't approve.
We intend to do all we can to make certain that the market will continuously believe in Quickbit.
Yes.
We are going in the right direction, and we won't change our strategy or focus based on extremely short-term happenings. We will remain confident in our strategy, and we will continue to build this company strong, and being a strong company that actually provides better business and close more deals. So we are on the right traction, I would say, and I'm very certain and hopeful that the market will see that as well.
Yes. All right, next question from Henrik: "Do some use the product Quickbit Checkout? If not, is it the product you would consider selling at the right price?" Well, do you want to buy it, Henrik, or not? Please send us a suggestion.
Um, well. I would say that we have... There's a lot of value in many of these things that is part of the historical aspects of Quickbit and the old infrastructure and how that was intended to change and transform in a certain moment. At the same time, as we have seen, Quickbit Pay as a platform, which it actually is an aspect of that packaged, as a payment experience, develop. We have noticed that the quality is extremely strong and superior in its sense, and we have also chosen to focus our business, too, so that we do not spread our focus too much in the organization.
We decided very carefully which things that were fundamental, integral pieces for reaching success and turning the company around, so we think we did the right thing there, and of course, if there are anyone who are interested in acquiring a product that we do not see as integral for our strategy, then the question more is if there are tech or product features or platform aspects in that that we believe also are side-by-side features that is part of our recent new infrastructure that we do not want the market to take part of, then it's more a matter of that, and that is actually something that we need to qualify before we can even enter into, because that's a more advanced conversation.
So I would say that we could not answer that question right now, but if we look at that largely, maybe we can offer such a product. But that, that is a more advanced product, actually. I hope that makes sense to you, Henrik. Thank you for asking.
All right, a question from Emil: "Do you have plans to add more currencies to the app, and Swish?" And Swish, for those of you who don't know what it is, it's, well, it's a direct bank transfer.
Yeah
Between it.
I think this comes back to what we talked about, recently. While we want to continuously improve the simplicity and the availability of all aspects of that product, we are looking at a few bigger statements now that we are doing that is going to give us completely new opportunities at Quickbit. So because of that, we cannot comment right now on when and how and exactly which of these things that we are looking at. So we're having a broader aspect focus now on where we need to grow the product portfolio, and that is also based on the business cases that we have qualified, together with very big and important strategic moves that we can take as a company.
So based on that, I cannot answer on which features exactly that we're looking on a product-specific level, and I hope that makes sense to you. But thank you for asking me that.
No. I'm sorry, I was muted there. Okay, next question from David: "How do you see Paysecure's client base? Seems to be mostly casinos and adult entertainment.
Yeah, I mean, firstly, it's important to say that we do not work very largely with Paysecure's client base, and secondly, also, Paysecure have quite many different client bases, so we are very carefully qualifying which clients and revenue streams that we want to work with. That's important for us, so we do not comment on or have opinions on various merchant networks or their partnerships and their partners' merchant networks in itself.
That's a policy that we have, that we concentrate and focus on and qualify with the merchants and with the client base that we want to work with, and then we do not interfere in or have any opinions on those partnerships and other revenue streams that aren't relevant for Quickbit as a business, and I hope that makes sense to you.
Okay. All right, so next question, Dublin. Is it possible to say where the most clients are today? Which region? Is it Balkans, Baltics, Nordics, et cetera?
It's in all of the countries that we have licenses, basically. It's pretty evenly spread out.
Yeah.
So, it's pretty well even divided, I would say. It's also continuously going back and forth a bit. It's very hard. It depends on a bit where, when you put the needle down and you look also, because one period may have a stronger activity from one region and another period from another. But we're working actively within all licensed regions in order to improve and grow revenue streams and transaction lists.
Cool. All right. We have a question from Lars Vallund. Questions sent in through investor email earlier that haven't been brought up. How does the expansion into Esports look on the earlier announced collab with RightBridge Ventures? Quickbit Pay can't be found in any of their sites. Has this collab given them anything?
That project gave us a lot of insights and knowledge into what we needed to do in order to improve our value proposition and our offering within that region alone, I would say. So that was very good from that perspective. However, it was also a challenging time for all of us, as we know, and also RightBridge went through a period of where they changed CEO at the time. So the project that we had with RightBridge were paused for a while, and then we took up those conversations. So I'm pretty certain that there are lots of value that we can get more from that RightBridge Ventures collaboration. But we aren't active with any Quickbit Pay solution yet through RightBridge, which I, of course, believe is bad, because I definitely think we should be.
All right. Next question from Theo. Paysecure recently released a video of their checkout solution that they intend to release globally. In it, we could see that Quickbit Pay was an alternative next to other payment alternatives on a global scale. What can you say about this? What steps are ahead with this collaboration? Also, great job.
Thank you very much. Yeah, well, I would like to say quite a lot here, but I cannot disclose so much. Naturally, as we all know, Paysecure has massive potential with them, based on their very strong, immense partnership networks. They have access to a lot, not only merchants, but also technology, infrastructure. It's part of things and technology that really binds together the blockchain part and so on, globally. So the fact that they and us have such a good collaborative partnership is extremely strong for us and will definitely help us scale our global value proposition. So we're looking very, very strongly and positively at the opportunities we will get there.
We are still working quite a lot with this and how we're going to make these things work in the best way, so that is something that we're looking at, and it may actually be something that we talk and communicate more about in the future, but I cannot disclose any more details now, and also, thank you very much for the positive words.