Interim report for the period 1 January 2022 to 31 March 2022

ZignSec

First quarter in summary

• Net revenue amounted to SEK 24.3 (5.2) million, an increase of 370% compared with the corresponding quarter the year before.
• EBITDA amounted to SEK -3.6 (-6.3) million.
• Cash and cash equivalents amounted to SEK 13.1 (26.2) million.
• Equity amounted to SEK 261.5 (72.9) million.

Significant events during the first quarter

• The Board of ZignSec AB appointed Alex Noton as the new CEO of ZignSec to integrate the Group's companies and accelerate ZignSec's acquisition strategy.
• ZignSec signed an agreement with Finaro (formerly Credorax) for the use of ZignSec's customer due diligence platform.
• The company signed an agreement with AsiaPay, one of the fastest growing companies in Asia, for customer due diligence, fraud checks and a risk assessment function.

Significant events after the end of the first quarter

ZignSec has implemented an organizational change at Group level as part of optimizing the organization for continued growth and improved profitability.

A comment from the CEO Alex Noton: 

During the first quarter of 2022, growth remained high and net sales increased by 370% compared with the same period last year. ZignSec continues to experience a strong demand for our integrated end-to-end solutions that can handle requirements for regulatory compliance for customers from a number of industries and geographical areas.

Investments have been made to develop the next generation of products, while at the same time we are expanding our presence in the American market with Web Shield's strong reputation as an entry point. We expect to be able to see the benefits of these investments start to take effect during the fourth quarter of 2022 and ZignSec expects to become cash flow positive during this quarter.

For more information, please contact:

Alex Noton, CEO

Tel: [phone]

[e-mail]

Alexander Albedj, Chairman of the Board

Tel: [phone]

[e-mail]

About ZignSec

ZignSec is a technology group in the fast-growing RegTech industry. The company provides SAAS platform with digital real-time solutions for customer due diligence and ID verification with global reach. The solutions are used by companies that in turn can optimize their processes for "onboarding" both corporate customers and consumers and at the same time ensure compliance with ever-changing local and global regulatory requirements for Know Your Customer (KYC) and Anti Money Laundering (AML).

Nasdaq First North (ZIGN)

Certified Adviser: Eminova Fondkommission AB, Phone: [phone]

This information is information that ZignSec is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-05-25 07:00 CEST.

Attachments

---

Interim Report Q1 2022

© Modular Finance, source Nordic Press Releases