Huddlestock - Q1 2025: Positioning for growth in the European market

28 May 2025 07:00 CEST

28.5.2025 07:00:01 CEST | Huddlestock Fintech AS | Additional regulated
information required to be disclosed under the laws of a member state

Huddlestock Fintech AS ("Huddlestock" or the "Company") reports a total
operating income of NOK 17.4 million for the first quarter of 2025, down 11 per
cent from NOK 19.6 million in the fourth quarter of 2024. The figures include
both the divested Nordic Investment-as-a-Service Platform, with reference to the
stock exchange announcement on 14 April 2025, and the Company's Consulting
business Visigon. Total operating expenses decreased 26 per cent to NOK 23.5
million compared to NOK 28.1 million in the fourth quarter 2024. EBITDA showed a
NOK 2.4 million improvement from negative NOK 8.5 million in the last quarter of
2024 to negative 6.1 million in the first quarter of 2025.

Revised strategy focused on Europe
In 2024, Huddlestock took several steps to revise its strategy and optimize
operations, resulting in significant changes to its business model. In the
beginning of 2025, the Company announced its expansion into the European market
through a collaboration with its local German fintech partner Tradevest Digital
Assets GmbH and Tradevest Technologies Warsaw SP. Z O.O. (collectively referred
to as "Tradevest"), as well as the sale of Huddlestock's Nordic
Investment-as-a-Service Platform to Done.ai - http://done.ai Group AB ("Done.ai
- http://done.ai") in April of 2025 to further enable a focused European
expansion. With the completion of the transaction with Done.ai - http://done.ai,
Huddlestock will benefit from an optimized portfolio comprising its consultancy
business Visigon, an asset light European Investment-as-a-Service platform that
has secured its first client GIGA Broker, and a strengthened financial position.


The organizational shift from these strategic measures have required resources,
but Huddlestock is confident that the restructured organization will strengthen
the Company's foundation and position for long-term value creation and growth.
Excluding the companies and extraordinary costs related to the Done.ai -
http://done.ai transaction, the adjusted pro-forma EBITDA shows an improvement
to negative NOK 3.9 million for the first quarter of 2025, with increased cost
control to improve margins over time. Excluding the companies related to the
Done.ai - http://done.ai transaction, Huddlestock had a pro-forma cash position
of NOK 3.5 million at quarter-end. Subsequent to the reporting period, NOK 10
million was received in cash from the first finalization of the Done.ai -
http://done.ai transaction, resulting in an approximate pro-forma cash position
of NOK 13.5 million.

The first half of 2025 is marked by transformation and execution of the shift
towards a growing European market, with both the first closing of the Done.ai -
http://done.ai transaction and the initial onboarding of GIGA Broker
end-customers expected in the second half 2025. Similarly, the new business
model in Visigon is expected to take full effect in the last half of 2025 as the
full-service provider offering is integrated and efficiency increases. Going
forward, Huddlestock will continue its commercial expansion with the ambition to
sign a LOI with a second European Investment-as-a-Service customer in 2025.

Simon Lange, Managing Director of GIGA Broker GmbH and Co-CEO of AVL comments:
"We are extremely excited to embark upon this project using Huddlestock's
Investment-as-a-Service platform, backed by strong technology partners. Our
ambition is to migrate our 65,000 AVL-customers to a new and improved investment
platform offering a broad variety of investment products and we see a large
market opportunity for Huddlestock in Europe beyond our joint project."

Presentation and Q&A
Huddlestock's Chairman of the Board, Øyvind Hovland, and the CEO Leif Arnold
Thomas, will host webcast presentations of the results in Norwegian and English
today, followed by Q&A sessions (12:00 CEST in Norwegian / 13.00 CEST in
English).

- Norwegian presentation and Q&A, at 12:00 CEST. To participate, please register
your interest with:
https://events.teams.microsoft.com/event/6bda4091-66fe-4afd-b7d6-d3c37e3ca822@c1
a5a59d-592c-49a2-ada8-beedc552d1f5

- English presentation and Q&A, at 13:00 CEST. To participate, please register
your interest with:
https://events.teams.microsoft.com/event/074df82d-a0b8-48e8-b884-a647e611803d@c1
a5a59d-592c-49a2-ada8-beedc552d1f5

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Leif Arnold Thomas, Chief Executive Officer, Huddlestock Fintech AS, +47 982
15 520, leif.thomas@huddlestock.com

ABOUT HUDDLESTOCK FINTECH AS

Huddlestock is an innovative technology software provider through its
Investment-as-a-service offering, with full operational service support and a
leading financial Consultancy services business. We deliver innovative and
sustainable technology and operational solutions to companies offering financial
products and services.

Find out more at huddlestock.com - https://www.huddlestock.com/

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17848032/18544785/6138/Download%20announce
ment%20as%20PDF.pdf

Huddlestock - Q1 2025 Presentation_FINAL.pdf -
https://kommunikasjon.ntb.no/ir-files/17848032/18544785/6137/Huddlestock%20-%20Q
1%202025%20Presentation_FINAL.pdf

More information:
Access the news on Oslo Bors NewsWeb site

647760_Huddlestock - Q1 2025 Presentation_FINAL.pdf
647760_Download announcement as PDF.pdf