Norway · Delayed Price · Currency is NOK Huddlestock Fintech AS Earnings Call Transcripts
Fiscal Year 2025
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Q4 2025 saw a leaner structure, cost reductions, and strong Visigon growth. Two key IaaS customers were signed, with a white label platform launching in April and Gigabroker going live in June. The company targets cash positivity in 2026 and NOK 100 million Visigon revenue by 2028.
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Restructuring completed with a shift to an asset-light, Europe-focused model. Cash position improved via Done.ai shares, with consulting and technology segments poised for growth. Targets set for NOK 100 million revenue and 20%+ EBITDA margin by 2028.
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Transformation included divesting unprofitable Nordic operations, focusing on continental Europe, and securing GIGA Broker as a key client. Q2 revenues dipped due to divestments, but cost base and cash burn improved. Outlook is positive, with strong utilization and expansion plans.
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Strategic divestment and focus on Europe have improved financial flexibility, with a leaner structure and a profitable consulting segment. First European customer signed, with onboarding set for H2 2025 and ambitions for further growth and recurring revenues.
Fiscal Year 2024
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Q4 saw a 16% revenue increase and improved EBITDA, with strong cost control and positive operating cash flow. New contracts and a revised strategy for the consultancy segment support growth, while German market expansion progresses through partnerships.
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Q3 revenues declined to NOK 16 million due to seasonal consulting slowdown, while investment as a service grew 1% and assets under administration rose 5%. EBITDA was minus NOK 7 million, and a NOK 14.2 million private placement strengthened liquidity.
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Q2 2024 saw a revenue decline to NOK 18 million, mainly from consulting, while recurring technology revenues grew 7% sequentially. Cost reductions and efficiency measures are underway, with stable cash and a focus on expanding in Germany and growing the consulting segment.