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Huddlestock Fintech AS (“Huddlestock” or the “Company”) is pleased to announce
that it has completed the strategic moves reshaping the Investment-as-a-Service
business during the first three quarters of 2025, focusing on a large market in
Continental Europe with an asset light model. The IaaS-platform’s first
customer, GIGA-broker, is on track to soft-launch its investment platform, with
selected products, in mid-December 2025. Broad launch is planned during first
half of 2026, including the introduction of more than 65,000 existing AVL
customers to the platform.
Settling on a new foundation, the Company announces long-term targets for its
Consulting division, Visigon, of reaching NOK 100 million in revenue and 20%
EBITDA-margin in 2028. Visigon supports and advises institutions, companies and
fintechs through the entire capital-markets software lifecycle, built on our
broad experience.
“While reshaping our IaaS business with a clear focus on the growing market in
Continental Europe, with Germany as our initial target market, we have in
parallel spent time to shape our strategy for Visigon. Our Consulting division
holds some of the best technology experts in the capital markets and treasury
sector with an impressive client base, and we see a 2x revenue potential in our
existing service offering by 2028 and large potential in adjacent products and
services,” says Leif Arnold Thomas, CEO of Huddlestock.
The Company reports a total operating income of NOK 9.7 million for the third
quarter 2025, compared to NOK 15.5 million in the same quarter last year with
the majority of the reduction related to the divestment of the Nordic IaaS
Platform (the “Divestments”). Total operating expenses were NOK 16.0 million,
including one-offs related to the Divestments, compared to NOK 22.4 million in
the same period last year. EBITDA for the period was negative NOK 6.3 million
compared to negative NOK 6.9 million in the same period last year. Entering the
fourth quarter of 2025, Huddlestock is advancing into the next phase of growth
with a strengthened board of directors and the newly appointed CFO, Sabine
Merky, who assumed the role on 1 October 2025.
PRO-FORMA Q3 2025 AND FINANCIAL POSITION
On a pro-forma basis, including the full effect of the Divestments and excluding
extraordinary transaction costs related to the transaction, Huddlestock reports
revenue of NOK 7.8 million and total operating expenses of NOK 13.2 million
resulting in a pro-forma EBITDA of negative NOK 5.5 million. Interest costs in
the second quarter were NOK 0.6 million, adding up to a quarterly pro-forma cash
burn of NOK 6.1 million.
At 30.09.2025 Huddlestock reports a cash position of NOK 1.9 million, which is
supported by 3,718,086 Done.ai - http://Done.ai Group AB shares, excluding the
shares to be distributed to Huddlestock shareholders, listed on Nasdaq First
North Growth Market and valued at NOK 31.1 million as of 30 September 2025. The
shares will be used as a part of the funding of Huddlestock’s operations and
European expansion, and the value of the shares is contingent on the development
of the market.
STRATEGY AND OUTLOOK
During 2025, Huddlestock successfully repositioned its IaaS business,
transitioning from the technologically more mature Nordic markets to a strategic
focus on Continental Europe with an asset light business model. The third
quarter marks the finalization of this strategic divestment, settling the
organization on a new foundation positioned for future growth. Huddlestock
expects to turn the IaaS business cash flow positive during 2026 with more
customers entering the platform and a continued focus on cost discipline. For
its Consulting business, Visigon, the Company has set clear 2028 targets of
reaching NOK 100 million in revenue at 20% EBITDA-margin with an ambition to
fund the growth in Consulting through the division’s positive cash flow
contribution.
PRESENTATION AND Q&A
The Company’s CEO, Leif Arnold Thomas, and CFO, Sabine Merky, will host a
webcast presentation of the results at 10:00 CET, followed by a Q&A session.
To participate, please register your interest:
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DISCLOSURE REGULATION
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
CONTACTS
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/17848032/18727472/6592/Download%20announce
ment%20as%20PDF.pdf
Huddlestock Fintech AS _ Q3 2025 Presentation_FINAL.pdf -
https://kommunikasjon.ntb.no/ir-files/17848032/18727472/6590/Huddlestock%20Finte
ch%20AS%20_%20Q3%202025%20Presentation_FINAL.pdf
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