Sweden · Delayed Price · Currency is SEK Crunchfish AB Earnings Call Transcripts
Fiscal Year 2026
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Offline payments are reframed as a core architectural choice, not a feature, with the Governed Offline model enabling scalable, resilient, and regulator-aligned digital money. This approach, now piloted in major markets, enhances interoperability, economic value, and privacy.
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A new offline digital payment solution aims to provide resilient, bank-friendly infrastructure as cash usage declines. Validated by regulators in India and tested in Europe, the model offers scalable, interoperable technology with strong revenue potential, especially in Asia.
Fiscal Year 2025
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2023 marked a strategic pivot to offline payments, with major progress in India and Southeast Asia, and a clarified business model targeting both system operators and service providers. Revenue remains pilot-driven, but commercial deployments and closed-loop wallet deals are expected to accelerate growth.
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Integration with India's NPCI is progressing, with rollout expected in Q1 and expanded global network dialogues underway. Financially, recent capital raises secure funding through 2026, while the business model shifts to subscription and interest-based revenue.
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Revised go-to-market strategy has driven strong industry adoption, especially in India, with NPCI and IDFC FIRST Bank on board. Financials show stable costs and renewed contracts, but new funding will be needed by end-2025 if revenue does not ramp up.
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Net sales dropped sharply year-over-year to SEK 285,000, with cost reductions from closing the Gesture business and a cash runway projected through year-end. The new strategy focuses on integrating Offline Terminal Infrastructure with payment networks, with ongoing discussions in India and Europe.
Fiscal Year 2024
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Focus has shifted to commercializing offline payment technology, with India as the key market due to regulatory changes and major opportunities. Advanced discussions with RBI and NPCI are ongoing, and a breakthrough deal is expected in 2025, supported by strong patent positions in the US and Europe.
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Focus has shifted to commercializing offline payment solutions, with eight revenue opportunities identified across India and global markets. A rights issue is underway to secure financing, and major deals in India and with central banks are prioritized for growth.
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Q2 saw a strategic partnership with TCS for global offline payments, a US patent grant, and ongoing pilots in India, though revenue remains low due to rollout delays. Financing options, including revenue sharing and divestment of Gesture, are being pursued to support growth.