Overall, the third quarter showed a strong development with increased sales from the previous quarter, a stable gross margin and a strengthened cash flow. The increase in sales was almost exclusively due to the increasing number of new operators that have been added in the past two quarters. During the third quarter, Quickbit also launched its first consumer product, Quickbit App.
The third quarter, 1 January–31 March 2021 in summary
- Net sales amounted to SEK 932.8 million (1 297.6).
- Operating profit amounted to SEK 10.0 million (17.9).
- Earnings per share before dilution amounted to SEK 0.08 (0.24).
- On 31 December 2020, the exercise period finished for Quickbit eu AB’s warrants, TO 1. Through the exercise of the warrants, 20,744,486 new shares were issued during the third quarter. The new number of shares will thus be 88,460,736 and the new share capital will amount to SEK 884,607.36.
- Quickbit is starting the first phase in the launch of the company’s consumer products by releasing the beta version of the Quickbit App.
- At an Extraordinary General Meeting on 31 March 2021, it was resolved that the Board of Directors would be composed of five ordinary members without deputy members, by newly electing Jan Frykhammar, Karin Burgaz, Mikael Karlsson and dismissing Mathias Jonsson van Huuksloot and Scott Wilson. The Board of Directors is thus composed of Jan Frykhammar, Karin Burgaz, Mikael Karlsson, Hammad Abuiseifan and Johan Lund. In addition, the Extraordinary General Meeting resolved to newly elect Mikael Karlsson as the Chairman of the Board.
Significant events after the third quarter
- On 22 December 2020, it was communicated that Quickbit would acquire all shares in DCS through exercising the call option that Quickbit obtained on 22 January 2020. After the end of the third quarter, Quickbit communicated that the company had decided not to complete the acquisition. The decision was taken in light of an agreement being reached with the seller of DCS, Quantoz N.V. The agreement means that the acquisition process was immediately discontinued and the purchase price of EUR 400,000 will not be paid. No other new costs were charged to Quickbit in connection with the discontinued acquisition process.
For further information, please contact:
Serod Nasrat, CEO, Quickbit eu AB (publ)
Phone: +46 73 157 63 33
Quickbit is a Swedish fintech company, which was founded in 2016 with the goal that more people and companies should use cryptocurrency on an everyday basis. Today Quickbit offer solutions for e-merchants to be paid in cryptocurrency and will launch solutions for people to easily use cryptocurrency on an everyday basis. Our more than 50 employees are based in four locations – Stockholm, Gibraltar, Tallinn and Lahore in Pakistan. Quickbit has been listed on NGM Nordic SME since July 2019.
This is 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 contact person set out above, at 08:00 am CET on May 12, 2021.