K33 is winning market shares while preparing for the bull market
Arcario's K33 continues to deliver strong growth, rapidly expanding its market share in Q3 2024. Arcario achieved a 31% increase in revenue from the previous quarter and a 787% increase in revenue compared to Q3 2023, driven by K33's expanding client base and innovative service offerings. Despite non-recurring adjustments impacting reported EBITDA, the underlying business remains strong and resilient.
The full report for Q3 2024 is available on arcario.com/ir/reports.
Highlights
- Revenue Growth: Arcario achieved a 31% increase in revenue from the previous quarter, driven by K33's expanded client base and service offerings. Compared to Q3 2023, the revenue has grown 787%.
- Market Share Expansion: K33 captured notable market share in a steady market, reinforcing its competitive strengths in pricing, liquidity, and customer service.
- Client Acquisition Initiatives: Enhanced marketing and acquisition strategies were deployed, successfully driving client growth and positioning K33 for further momentum into Q4.
- Launch of Upgraded Interface (Post-Q3): Following the close of Q3, K33 launched an upgraded user interface in early Q4, delivering a more streamlined and user-centric trading experience for clients.
Third quarter of 2024
-compared to the third quarter of 2023-
- Group revenue increased to 250,742 kSEK (28,277)
- EBITDA amounted to -3.659 kSEK (-6,489)
- Q3 had significant adjustments from non-recurring, non-cash items of -3.68 MSEK related to the restructuring of the business. Adjusting for these items, EBITDA reaches approximately 0.02 MSEK, offering a clearer view of the underlying operational performance.
- EBIT amounted to -6.504 kSEK (-10,721)
- The result for the period amounted to -8,217 kSEK (-7,867)
- Earnings per share before dilution amounted to SEK -0.001 (-0.001)
- Earnings per share after dilution amounted to SEK -0.001 (-0.001)
First nine months of 2024
-compared to the first nine months of 2023-
- Group revenue increased to 594,083 kSEK (97,875)
- EBITDA amounted to 5,305 kSEK (-16,578)
- EBIT amounted to -1,023 kSEK (-29,603)
- The result for the period amounted to -3,942 kSEK (-38,259)
- Earnings per share before dilution amounted to SEK 0.000 (-0.004)
- Earnings per share after dilution amounted to SEK 0.000 (-0.004)
Significant adjustments from non-recurring, non-cash items in Q3
While our revenue reflects steady business growth, the negative EBITDA in Q3 of -3.66 MSEK is largely driven by significant non-recurring, non-cash items. Key adjustments are a 2.57 MSEK cost related to the sale of mining equipment and a 1.11 MSEK cost related to the closure of Green Data. Adjusting for these items, EBITDA reaches approximately 0.02 MSEK, offering a clearer view of the underlying operational performance.
Torbjørn Bull Jenssen, CEO of Arcario and K33, comments:
"Doubling down on K33 is paying off. Arcario is experiencing its fastest growth to date, and we will continue to prioritize the development of K33 going forward."
For further information contact:
Torbjørn Bull Jenssen, CEO, Arcario AB
E-mail: ir@arcario.com
Web: www.arcario.com/ir
About Arcario
Arcario is an industrial investment company within the digital asset space, committed to shaping the future of finance as we know it. The company is the owner of K33, a research-led digital assets brokerage. The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser.
This information is information that Arcario 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 2024-11-07 08:00 CET.
