Quickbit publishes Q2 ‘21/22 interim report

Sales for the quarter posted a year-on-year increase of 295%. The increase was primarily driven by a higher average daily volume (ADV), additional merchants and the positive effects of the preceding year’s restructuring. Merchants numbered 74 at the end of the second quarter, up 28, or 61%, year-on-year. The quarter was characterized by continued investments in product launches and geographic expansion.

Second quarter, October – December 2021 in summary
 

  • Net sales totalled €88.2 million (22.3).
  • Gross profit amounted to €3.4 million (1.2) with a gross margin of 3.9% (5.5).
  • Adjusted EBITDA was €0.2 million (-0.2).
  • EBIT totalled €-0.6 million (-0.1).
  • Basic earnings per share amounted to €-0.01 (0.00).

 

Significant events during the quarter
 

  • Changes to Group management with the following composition: CEO: Hammad Abuiseifan, CFO: Simon Afeworki, Chief Legal & Compliance Officer: Johan Björklund, Head of Technology: Niklas von Proschwitz (new member) and Head of Product: Therese Lindgren (new member).
  • Quickbit launched EUR accounts and expanded features in Quickbit App.
  • The Annual General Meeting was held on 24 November, with the re-election of Board members and Chairman of the Board. The AGM also resolved on an incentive programme for the company’s employees.
  • Quickbit expanded its offering of cryptocurrencies, adding Ethereum.
  • Quickbit App launched in the Norwegian market.

 

For further information, please contact:

Simon Afeworki, CFO

simon@quickbit.com

Tel: +46 76 252 14 75

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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 €900 million, 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

This information is such information that Quickbit eu AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above contact person, on Wednesday, 9 February 2022 at 8:00 a.m CET.

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