Huddlestock Fintech AS · OSL:HUDL
Huddlestock Fintech AS — Q1 2024 Earnings Presentation
21 slides from Huddlestock Fintech AS's earnings presentation, May 30, 2024
Slide 1: Q1 2024 Results presentation
Q1 2024 Results presentation | May 30, 2024 Øyvind Hovland, Chairman of the Board Leif Arnold Thomas, Group CEO
Slide 2: Q1 2024 Proven growth track record
Q1 2024 Proven growth track record Last twelve months (LTM) revenue, NOK million Total operating income % Recurring IaaS-revenue • Revenue of NOK 20.6 million, compared NOK 16.6 million in Q1 2023 and NOK 22.6 million in Q4 2023 89.2 • EBITDA of NOK -3.8 million, compared NOK -2.4 million in 85.2 Q1
Slide 3: Our two-sided business model
Our two-sided business model Our customers Empowering modern Financial products and services companies financial services Incumbents Investment as a Service Consulting services Competitive pressures and evolving client demands rapidly evolving; New products and Access to investment tools and Customi
Slide 4: A self reinforced growth market for IaaS
A self reinforced growth market for IaaS Huddlestock’s IaaS value drivers Evolving Monthly recurring licenses More private individuals owning shares, preferences with increasing value (Norway & Sweden) Transaction fees Private individuals Value of share holdings Assets under management/ # million1 N
Slide 5: High value to capture in existing markets
High value to capture in existing markets Norway + Sweden: Technology integration Geographical foothold Revenue split 2023 (NOK million) • Large serviceable market for IaaS offering identified Germany • High priority-platform technology integration enabling Denmark <1% cross border new sales and up-
Slide 6: Key product and integration deliveries in Q1 2024
Key product and integration deliveries in Q1 2024 ✓ Huddlestock added as a financial administration system in Microsoft AppSource ✓ Integration to support Norwegian bank payments ✓ Integration with AvtaleGiro, enabling Bricknode to process automatic payments in Norway, mostly used for recurring savi
Slide 7: Nowo enabling scale through integration of Huddlestock technology
Nowo enabling scale through integration of Huddlestock technology • Nowo is a Swedish savings platform that offers unique ways for individuals to build wealth • Nowo selected the investment management system from Huddlestock in 2023 offering flexibility in several areas including fund order manageme
Slide 8: Financial review
Financial review
Slide 9: Year over year revenue growth supported by acquisitions
Year over year revenue growth supported by acquisitions Quarterly revenue development Unaudited, NOK million Consulting 29.4 • Revenue growth of 24% compared to Q1 2023 Investment as a Service supported by three acquisitions and offset by the divestment of Huddlestock Solutions (F5IT) 22.61 • Recurr
Slide 10: Key figures
Key figures Profit and loss statement Unaudited, NOK million Q1 2024 Q1 2023 Q4 20231 • 24% revenue growth compared to Q1 2023 Total operating income 20.6 16.6 22.6 supported by three acquisitions Cost of materials/subcontractors 0.1 -5.2 2.7 • Increased personnel costs following acquired companies
Slide 11: First quarter cash flow
First quarter cash flow Q1 2024 cash flow • Cash flow from operations reflects a profitable Unaudited, NOK million Consultancy business and a IaaS-business with high growth potential 10.2 9.9 • Investments represents net additions in intangible assets related to technology development • Financing ma
Slide 12: Summary and outlook
Summary and outlook
Slide 13: Building on a unique market position
Building on a unique market position The only complete Investment as a Service offering • Continued profitable consultancy business • Unlocking growth in Investment-as-a-service (IaaS) business through technology and platform integration • Secured NOK 12.5 million funding through convertible shareho
Slide 14: Q&A
Q&A Øyvind Hovland Leif Arnold Thomas Chairman of the Board CEO
Slide 15: Appendix
Appendix
Slide 16: Consolidated income statement
Consolidated income statement Unaudited in NOK Q1 2024 Q4 2023 QoQ Q1 2023 YoY Operating income Other operating income 20 613 359 22 559 177 -9 % 16 600 346 24 % Total operating income 20 613 359 22 559 177 -9 % 16 600 346 24 % Operating expenses Cost of materials/subcontractors 86 425 2 718 832 -97
Slide 17: Consolidated statement of financial position
Consolidated statement of financial position Unaudited in NOK Consolidated Balance Sheet 31.03.2024 31.12.2023 Equity Non-current assets Paid-in capital Share capital 362 215 350 957 Intangible assets Own shares -4 796 -5 335 Research and development 56 397 961 58 138 522 Other paid-in capital 0 0 G
Slide 18: Consolidated statement of cash flow
Consolidated statement of cash flow Unaudited in NOK Consolidated Cash Flow 3M 2024 2023 Profit/loss before tax -16 329 131 -87 129 435 Depreciation and amortisation 11 972 874 63 973 602 Changes to accounts receivable -3 362 454 -527 235 Changes to accounts payable -3 594 273 -2 870 269 Changes to
Slide 19: Disclaimer 1/2
Disclaimer 1/2 This presentation has been prepared by Huddlestock Fintech AS (the Huddlestock) solely for the use at the presentations to investors held in connection with the presentation of the past results of the certain period and anticipated future performance. This presentation is being made o
Slide 20: Disclaimer 2/2
Disclaimer 2/2 Any statement, estimate or projections included in this presentation (or upon which any of the conclusion contained herein are based) with respect to anticipated future performance (including, without limitation, any statement, estimate or projection with respect to the condition (fin
Slide 21: Huddlestock Fintech AS
Huddlestock Fintech AS Kanalsletta 2, 4033 4005 Stavanger Norway
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