Quickbit Year-end Report 2020/2021

Sales in the fourth quarter were unchanged on a currency-adjusted basis compared to the same period previous year. The gross margin amounted to 3.6 percent – in line with our ambition to report a gross margin with an average of 4 percent over time. We are entering the first quarter in the new financial year with a high level of activity and strong momentum.

The fourth quarter, 1 April –30 June 2021 in summary

  • Net sales amounted to SEK 842.4 million (871.2).
  • Operating profit amounted to SEK -3.0 million (15).
  • Earnings per share before dilution amounted to SEK -0.06 (0.19).
  • On 6 April, Quickbit announced that the company had reconsidered the decision to exercise the call option that was originally obtained on 22 January 2020 to acquire Digital Currency Services B.V. (“DCS”). The company took the decision not to complete the acquisition in light of the fact that an agreement was 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.
  • On 26 May, the Board member Johan Lund advised that he was resigning from the Board at his own request.
  • On 18 June, the Board decided to discontinue the preparations for the change of stock exchange from NGM Nordic SME to NGM Main Regulated Equity, which was decided in December 2020. An ambition to change to a regulated market exchange remains and work is resuming in order to ensure and assure the quality of the company’s internal processes.

Significant events after the fourth quarter

  • On 19 July, Quickbit acquired 100 percent of the shares in the Norwegian company Balder Solutions AS (“Balder”). Through the acquisition, Quickbit has obtained the necessary registrations that are required for a future launch of Quickbit App and Quickbit Card in Norway, which represents the next step in Quickbit’s expansion phase after launch in Sweden. The purchase price amounted to NOK 2.5 million and it was financed in its entirety through the company’s own cash holdings.
  • On 29 July Serod Nasrat decided to resign from his role as CEO of Quickbit and Hammad Abuiseifan was appointed by the Board as the new CEO.


For further information, please contact:
Hammad Abuiseifan, CEO, Quickbit eu AB (publ)
+ 46 73 095 87 12


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 CEST on August 11, 2021.