Quickbit publishes year-end report ‘23/24

Fourth quarter, April - June 2024 in summary

• Net sales totalled € 51.8 million (20.6). 
• Gross profit amounted to € 1.4 million (0.8) with a gross margin of 2.8% (3.9%).
• Adjusted EBITDA was € -1.0 million (0.7). 
• EBIT totalled € -1.4 million (-7.8). 
• Basic earnings per share amounted to -0,01 EUR (-0,00). 

Full year summary, July 2023 - June 2024 in summary

• Net sales totalled € 88.2 million (229.5). 
• Gross profit amounted to € 3.3 million (9.6) with a gross margin of 3.7% (4.2%).
• Adjusted EBITDA was € -4.0 million (4.9). 
• EBIT totalled € -9.1 million (-12.7). 
• Basic earnings per share amounted to -0.08 EUR (-0.06).

Events during the quarter

• Quickbit responded to an article published in Affärsvärlden regarding the partner Paysecure that lacked essential information necessary for a fair view.
• Quickbit announced a financial update where the net sales for the third quarter of '23/24 were expected to double from the last reported level of 8.9 million EUR, with a maintained gross margin over 4%. At the same time, Quickbit announced that an agreement had been made with Paysecure regarding an interest-free convertible bridge loan of 0.5 million EUR within the framework of the option agreement announced on November 28, 2023. 

 
Events after the quarter

• Quickbit strengthened its group management ream with Bas Haagenars as Head of Marketing.
• Quickbit announced that the last quarter and half-year have brought many new and exciting e-retailers to Quickbit's payment solutions. Most of these are expected to launch at the beginning of the fiscal year '24/25.
• Quickbit called an extraordinary general meeting after board members Elena Kontou and Scott Wilson chose to resign. The extraordinary general meeting re-elected Peter Liljeroos as Chairman of the Board and Henrik Vilselius as Board Member, while Nickolaj Johansson and Mikael Fallström were newly elected as Board Members.
• Quickbit signed the technology company Inet, which sells products for computers and technology, as a new e-commerce customer,

Comments by the CEO
 
I am very proud of Quickbit's development over the past year! From being in a difficult situation with declining revenues, we have managed to execute a successful turnaround in record time. With a strengthened management team and new board, new partners, transaction structure, and customers, we have initiated and accelerated the pivot we call Quickbit 2.0. We are now concluding the fiscal year with yet another strong revenue growth, more than doubling our revenues for the third consecutive quarter.

In the previous quarterly report, I was proud to share that we had significantly exceeded our previously communicated revenue forecast. Now we are doing it again. Our net sales for the fourth quarter amounted to 51.8 million EUR, an increase of 121% from the third quarter and 152% compared to the fourth quarter of the previous year.

I am also pleased to announce that June showed a positive operating result, which is tremendously gratifying for the entire Quickbit team and a testament to the team's competence and commitment.

All of this gives us a solid foundation to approach the next fiscal year with good prospects and great confidence.

I am also happy to announce that Quickbit has just become Inet's provider of cryptocurrency payment services through our in-house developed product Quickbit Pay. Our continued growth demonstrates that we have a strong and competitive offering that we continuously develop and improve.

Quickbit is currently focused on the new Markets in Crypto-Assets Regulation (MiCA). MiCA will allow us to target all EU countries with a single national license on the consumer side. This will enable us to expand our consumer offering internationally at an even faster pace and simplify and streamline the group’s structure.

Finally, I would like to take this opportunity to thank our owners, board, management, and staff for their trust and good cooperation. We are now in a position to expand into even more industries and reach new heights. There is great interest in Quickbit and our products in the market, and we see enormous potential ahead.

The future looks bright.

Thank you.

Daniel Sonesson
CEO 
Quickbit 



For further information, please contact:
Daniel Sonesson, VD
+ 46 73 530 30 25
ir@quickbit.com 

This release is published in Swedish and English. In the event of any differences between the English version and the Swedish original, the Swedish version takes precedence. 

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Quickbit is a Swedish fintech company, founded in 2016 with the goal of making the integration of cryptocurrencies into the everyday lives of people and companies smoother. Today, Quickbit offers safe and easy-to-use products for e-merchants as well as customers. With a transaction volume to date in excess of €1 billion, Quickbit has already enabled and empowered individuals around the world, through the use of cryptocurrencies. Quickbit has been listed on NGM Nordic SME since July 2019. For more information, please visit www.quickbit.com