Huddlestock Fintech

Earnings Release • May 28, 2025

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

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

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