Huddlestock Fintech As · OSL:HUDL
Huddlestock Fintech As — Q3 2024 Earnings Presentation
22 slides from Huddlestock Fintech As's earnings presentation, Nov 21, 2024
Slide 1: Q3 2024 Third quarter results presentation
Q3 2024 Third quarter results presentation | November 21, 2024 Øyvind Hovland, Chairman of the Board Leif Arnold Thomas, Group CEO
Slide 2: Empowering modern financial services
Empowering modern financial services We enable any company to launch new investment services or transform existing ones
Slide 3: Q3 2024 development
Q3 2024 Q3 2024 development • Revenue of NOK 16 million vs. NOK 17 million1 in Q2 2024 • IaaS revenue increased 1 percent Investment-as-a-service (IaaS) Consulting • Assets under Administration increased 5 percent NOKm NOKm • Reduction related to seasonality in Consultancy +1% -19% • EBITDA of NOK -
Slide 4: A two-sided business model
Our customers A two-sided business model Financial products and services companies Business areas Investment-as-a-Service Consulting services Incumbents Competitive pressures and evolving client demands rapidly evolving; New products and Offering Investment solution based on Customized strategic and
Slide 5: Tapping into a large self reinforced growth market
Tapping into a large self Investors served through customers # of end-clients (‘000) # of end-client accounts (‘000) reinforced growth market +18% 11.4 11.0 11.0 8.2 A self-reinforced growth market 7.0 7.0 11.0 11.0 11.4 8.2 7.0 7.0 More investors Evolving preferences Q1 2024 Q2 2024 Q3 2024 # retai
Slide 6: Continued focus on organic IaaS growth
Continued focus on organic IaaS growth • -5% organic growth from Q1’24 to Q2’241 Quarterly IaaS revenue development and drivers 2024, NOK million • Seasonally high revenue in the first quarter due to tax-reporting -5% • Underlying revenue growth due to growth in Assets +1% under Administration 8.0 7
Slide 7: Progress in the third quarter
Recap of priorities in the second half 2024 Progress in the third quarter Added support around Norwegian • Expanded functionality in managed portfolios, offering financial advisors Share Savings Account (ASK) better flexibility for allocating new cash contributions • Improved user interfaces around
Slide 8: Tradevest cooperation in Germany holds potential for market entry
Tradevest cooperation in Germany holds potential for market entry Strong Nordic foothold Cooperation agreement with local partner for through acquisitions joint technology platform in Germany 1 • Important contribution to secure all necessary licenses • Enabling Huddlestock operations in Germany • A
Slide 9: Continued profitable and stable Consultancy business
Continued profitable and stable Consultancy business LTM Consultancy revenue development Last twelve months (LTM), NOK million • New customer announced in August, based on a combined sales efforts between IaaS and Consulting 47.1 46.5 45.7 • Seasonal effects in third quarters impacting Consulting 43
Slide 10: Financial review
Financial review
Slide 11: Stabilized operational expenses – unsatisfactory revenue development
Stabilized operational expenses – unsatisfactory revenue development Profit and loss Unaudited, NOK million Q3 2024 Q2 2024 Q3 2023 • Challenging revenue performance restated Total operating income 15.5 17.41 16.6 • Investment as a service income increased 1 per cent compared to Q2 2024 due to growt
Slide 12: Third quarter cash flow
Third quarter cash flow Q3 2024 cash flow • Cash flow from operations reflects a profitable Unaudited, NOK million Consultancy business and an IaaS-business with 10.5 high growth potential 9.9 • Investments represents net additions in intangible assets related to technology development • Financing r
Slide 13: Summary and outlook
Summary and outlook
Slide 14: 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 • Pursuing accelerated market entry into Germany • Short-term
Slide 15: Q&A
Q&A Øyvind Hovland Leif Arnold Thomas Chairman of the Board CEO
Slide 16: Appendix
Appendix
Slide 17: Consolidated income statement
Consolidated income statement Unaudited in NOK, including reported and restated figures Q3 2024 Q2 2024 Q2 2024 QoQ Q3 2023 YoY 9M2024 9M2023 YoY actual reported Operating income Other operating income 15,538,083 17,374,698 18,392,8981 -16 % 16,619,802 -13 % 53,526,140 62,590,924 -14 % Total operati
Slide 18: Consolidated statement of financial position
Consolidated statement of financial position Unaudited in NOK 30.09.2024 31.12.2023 30.09.2024 31.12.2023 Non-current assets Equity Intangible assets Paid-in capital Research and development 53,880,950 58,138,522 Share capital 362,215 350,957 Goodwill 109,055,779 116,449,291 Own shares -14 -5,335 Te
Slide 19: Consolidated statement of cash flows
Consolidated statement of cash flows Unaudited in NOK Q3 2024 Q2 2024 YTD 2024 YTD 2023 2023 Profit/loss before tax -20,604,729 -18,589,875 -55,523,735 -45,959,607 -87,129,435 Depreciation and amortisation 12,360,865 12,208,453 36,542,193 35,358,668 63,973,602 Changes to accounts receivable -330,735
Slide 20: 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 21: 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 22: Huddlestock Fintech AS
Huddlestock Fintech AS Kanalsletta 2, 4033 4005 Stavanger Norway
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