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Arcane Crypto Interim Report Q3 2022
Third quarter of 2022 (compared to third quarter 2021)
- Group revenue decreased to 52,186 kSEK (81,166)
- EBITDA amounted to -7,336 kSEK (-6,059)
- EBIT amounted to -12,703 kSEK (-8,105)
- The result for the period amounted to -13,290 kSEK (-7,766)
- Earnings per share before dilution amounted to SEK -0.002 (-0.001) and after dilution to SEK -0.001 (-0.001)
First nine months 2022 (compared to first nine months 2021)
- Group revenue increased to 242,806 kSEK (183,695)
- EBITDA amounted to -30,065 kSEK (-18,586)
- Adjusted EBITDA amounted to -19,166 kSEK (-18,586)
- EBIT amounted to -77,279 kSEK (-21,731)
- The result for the period amounted to -79,491 kSEK (-150,872)
CEO Torbjørn Bull Jenssen comments:
"We continue to see strong interest, despite the backdrop of a bear market in digital assets, and we believe that now is the time to build. Every day we see major institutions embracing digital assets and beginning to offer them to their clients, yet few institutions are real experts in the space. Our clients appreciate our expertise in the industry, our one-on-one approach to customer care, and our ability to execute complex trades and handle a multitude of custody arrangements. This is also increasingly noted by the big institutions who are starting to take an interest in what we are building."
Main events during Q3 2022
- On August 23, Arcane Crypto AS entered into an agreement with Infront to distribute Arcane's research on Infront's platform.
- On August 23, Arcane Crypto AS entered into an agreement with Refinitiv to distribute Arcane's research on Refinitiv's platform.
- On August 31, Arcane Crypto AS entered into an agreement to sell its Swedish crypto exchange, Ijort Invest AB ("Trijo"), to GreenMerc AB (publ). The transaction is expected to close during the third quarter of 2022 and will not have a material impact on Arcane's result.
- On September 2, the board of Arcane Crypto AB resolved to issue 58,452,374 new shares to Bulltech AS based on authorization from the AGM held on May 10, 2022. The share issue constitutes an additional consideration in accordance with the share purchase agreement of Kaupang Krypto AS, previously announced on October 13, 2020.
Main events after the end of the period
- On November 1, Viggo Leisner informed Arcane Crypto AB on his decision to resign from the board due other professional obligations.
The company will hold a webcast presentation where CEO Torbjørn Bull Jenssen will present the report today at 10:00 CET. Investors, analysts, and media are invited to follow the webcast.
No pre-registration is required. The presentation will be held in English and questions can be submitted in English during the webcast.
For further information, please contact:
Torbjørn Bull Jenssen, CEO, Arcane Crypto AB
E-mail: [email protected]
About Arcane Crypto
Arcane Crypto develops the infrastructure and products that enable worldwide adoption of bitcoin and digital assets. Arcane is building a platform for users to learn, trade and invest in digital assets, all from one account. Our market leading research content educates our users and builds trust. Arcane achieves scale by providing a platform with open APIs, allowing third parties to develop their own products using our technology and then distribute their product to our users.
Subscribe to press releases and financial information: https://investor.arcanecrypto.se/
The information disclosed in this Interim Report is mandatory for Arcane Crypto AB to publish pursuant to the EU's Market Abuse Regulation (MAR). This information was submitted for publication at 08:00 (CET) on 8th November 2022, through the agency of the CEO.
Arcane Crypto AB