Sweden · Delayed Price · Currency is SEK Hilbert Group AB Earnings Call Transcripts
Fiscal Year 2026
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Fee income more than doubled in H1 2026, with strong AUM growth and outperformance of benchmarks. New business lines like Enigma and Hilbert Finance are nearing profitability, while cost and liquidity management support a positive outlook. Breakeven is projected at $165M-$200M AUM.
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Despite a 14% drop in Bitcoin and industry-wide outflows, strategies delivered positive returns, fee-paying AUM grew, and management fee revenue rose 74% quarter-on-quarter. Two new engines launched post-quarter, expanding revenue and distribution.
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Q1 2026 saw strong positive returns and 90%+ AUM growth despite a tough crypto market, with fee revenue up 84.5% year-over-year and the asset management business turning cash positive. Institutional engagement deepened, and the group is fully financed for growth.
Fiscal Year 2025
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2025 saw a major transformation to an institutional, scalable platform, driving strong AUM and revenue growth, with robust performance across strategies and a diversified, global allocator base. 2026 is focused on scaling and integrating new verticals for further growth.
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Q3 saw a strategic transformation into a full-stack digital finance platform, with revenues up 63% year-over-year and AUM growing 35% quarter over quarter. Key milestones include the Nordark acquisition, Syntetika's upcoming launch, and strong institutional validation.
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Q2 2025 saw transformative growth, with new product launches, strong fund performance, and major capital raises. Strategic partnerships and governance enhancements position the company for rapid scaling and sustainable value creation.
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Q1 2025 saw transformative growth with new AI-driven funds, strong returns, and the launch of Synthetica, a regulatory-grade tokenization platform. Leadership was strengthened, AUM reached $410 million, and favorable market and regulatory trends support robust Q2 expectations.
Fiscal Year 2024
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AUM grew over 10x in Q4 2024, driven by the Xapo partnership and Liberty Road acquisition, with total assets reaching $450 million and projections to exceed $1.25 billion in 2025. Revenue rose, losses narrowed, and new products and platforms are set to drive further growth.
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Liberty Road Capital acquisition adds $110M AUM and expertise, while Coin360 prepares for a major upgrade and new subscription revenue. Asset management income is set to rise in Q4 and 2025, with a new CEO transition planned for January.
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Q2 was challenging due to a broad crypto sell-off, resulting in negative fund performance and lower income. Strategic partnerships, a major fund launch, and a Coin360 revamp position the firm for growth, with M&A activity likely before year-end.