Huddlestock Fintech As · OSL:HUDL
Huddlestock Fintech As — Q2 2024 Earnings Presentation
24 slides from Huddlestock Fintech As's earnings presentation, Aug 29, 2024
Slide 1: Q2 2024 Second quarter and half year results presentation
Q2 2024 Second quarter and half year results presentation | August 29, 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: Q2 2024 Last twelve months revenue development
Q2 2024 Last twelve months revenue development Last twelve months (LTM), NOK million Consulting Investment as a Service • Revenue of NOK 18 million vs. to NOK 21 million in Q1 2024 89.2 • IaaS revenue growth of 7 percent 85.2 • Consulting revenue down due to staffing changes, with continued high pro
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 11.0 11.0 7.0 7.0 Disruptive digital investment market globally Assets under management (USD billion) 11.0 11.0 7.0 7.0 2 791 Neobrokers Robo-advisers Q1 2024
Slide 6: High value to capture in existing markets
High value to capture in existing markets Norway + Sweden: Technology integration Geographical foothold Revenue split H1 2024 (NOK million) • Large serviceable market for IaaS offering identified Germany • High priority-platform technology integration enabling cross border new sales and up-sales to
Slide 7: Large Nordic markets with high upside potential in Germany
Large Nordic markets with high Customer development In the first half 2024 upside potential in Germany Letter of intents (LOIs) A self-reinforced growth market Norway Germany More investors Evolving preferences # retail investors1 • User experiences Upselling (subsequent event) ~13 million • Themati
Slide 8: The only complete investment as a service offering
The only complete investment as a service offering Our end-to-end platform Investment license Operates investment service under the client’s license or through Huddlestock’s umbrella Customer front-end Connecting to existing platform or through Custody services Investment management system API ready
Slide 9: IaaS platform integration activities
Priorities IaaS platform integration activities In the second half 2024 Securing long-term scalability and efficiency Added support around Norwegian Share Savings Account (ASK) Full tax handling and Tech Integration Client Migration reporting in Norway Combining Bricknode tech with Migration pending
Slide 10: Acting on ambition to grow Consulting
Acting on ambition to grow Consulting New contract securing continued high utilization • New undisclosed wealth management customer located in Denmark • Result of combined sales efforts across IaaS and Consulting Broaden Visigon offering Business Analysts Technical Analyst • New website to be launch
Slide 11: Financial review
Financial review
Slide 12: 7% IaaS growth offset staffing changes in Consulting
7% IaaS growth offset staffing changes in Consulting Quarterly revenue development Unaudited, NOK million Consulting • +7% Investment-as-a-Service revenue development Investment as a Service 29.4 compared to the first quarter 2024 • Consulting negatively impacted by staffing changes in the second qu
Slide 13: Second quarter profit and loss
Second quarter profit and loss Profit and loss Unaudited, NOK million Q2 2024 Q1 2024 Q2 2023 • Total operating income of NOK 18 million, from 7% Total operating income 18.4 20.6 29.4 IaaS growth offset staffing changes in Consulting Cost of materials/subcontractors -0.1 0.1 -6.4 • Personnel cost re
Slide 14: Second quarter cash flow
Second quarter cash flow Q2 2024 cash flow Unaudited, NOK million 9.9 9.9 • Cash flow from operations reflects a profitable Consultancy business and an IaaS-business with high growth potential 5.4 • Investments represents net additions in intangible assets related to technology development 8.4 • Fin
Slide 15: Summary and outlook
Summary and outlook
Slide 16: 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 17: Q&A
Q&A Øyvind Hovland Leif Arnold Thomas Chairman of the Board CEO
Slide 18: Appendix
Appendix
Slide 19: Consolidated income statement
Consolidated income statement Unaudited in NOK Q2 2024 Q1 2024 YTD 2024 YTD 2023 Year 2023 Operating income Other operating income 18 392 898 20 613 359 39 006 257 45 971 122 85 150 101 Total operating income 18 392 898 20 613 359 39 006 257 45 971 122 85 150 101 Operating expenses Cost of materials
Slide 20: Consolidated statement of financial position
Consolidated statement of financial position Unaudited in NOK 30.06.2024 30.06.2023 31.12.2023 30.06.2024 30.06.2023 31.12.2023 Non-current assets Non-current assets Equity Intangible assets Intangible Paid-in assets capital Research and development 55 151 154 70 550 551 58 138 522 Research Share an
Slide 21: Consolidated statement of cash flows
Consolidated statement of cash flows Unaudited in NOK Q2 2024 Q1 2024 YTD 2024 YTD 2023 2023 Profit/loss before tax -18 589 875 -16 329 131 -34 919 006 -19 320 678 -87 129 435 Depreciation and amortisation 12 208 453 11 972 874 24 181 328 14 197 172 63 973 602 Changes to accounts receivable 1 581 12
Slide 22: 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 23: 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 24: Huddlestock Fintech AS
Huddlestock Fintech AS Kanalsletta 2, 4033 4005 Stavanger Norway
Huddlestock Fintech AS — Q2 2024 Earnings Presentation on 6ix