Sales increased 80% year-on-year, primarily through more merchants joining but also due to a slight recovery following the impact of the preceding year's revenue restructuring on sales. Merchants numbered 67 at the quarter's end, up from 29 at the same date last year. Investments in consumer products continued and the Quickbit App launched in the Swedish market in August.
First quarter, July-
- Net sales totalled E97.1 million (54.0), up 80% year-on-year.
- Gross profit amounted to E3.6 million (2.3) with a gross margin of 3.7% (4.3).
- Adjusted EBITDA was E0.3 million (1.2).
- EBIT totalled E-0.1 million (0.9).
- Basic earnings per share amounted to E-0.04 (0.11).
Significant events during the quarter
- On 19 July, Quickbit acquired 100% of the shares in the Norwegian firm Balder Solutions AS. The acquisition provides Quickbit with the requisite registrations for a future launch of Quickbit App and Quickbit Card in
Norway , which represents the next step in Quickbit's expansion phase. The purchase price amounted toNOK 2.5 million and was financed in its entirety through the company's own cash holdings. The acquisition was completed on 23 September. -
On 29 July, Hammad Abuiseifan was appointed as CEO of the company. Since
March 2021 , Hammad has been a member of Quickbit's Board of Directors and will retain his place on the Board. -
In August, agreements were entered into with two new acquiring partners, WorldPay and
Bank Frick . WorldPay is a leading provider of payment processing solutions with extensive experience and knowledge of cryptocurrencies.Bank Frick is a commercial bank specialising in blockchain banking services. Having more than one acquiring partner lowers Quickbit's business risk and, over time, lowers the company's transaction costs. - On 27 August, the termination of the mentoring agreement with Eminova Fondkomission as of 22 September was announced.
For further information, please contact:
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 E900 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
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