Huddlestock Fintech AS (DE:9JR) has released an update.
Huddlestock Fintech AS reported a rise in operating income to NOK 20.6 million in Q1 2024, up from NOK 16.6 million the previous year, attributing growth to its profitable Consulting business and promising Investment-as-a-Service (IaaS) offering. Despite negative EBITDA, the company is optimistic about its growth potential, especially in the German market, and is taking measures to become EBITDA-positive. Huddlestock also reinforced its financial status with a convertible shareholder loan post-Q1 and has a mandate for further funding to support its expansion.
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