Slide 1: Interim Report Q1 2026
INTERIM REPORT Q1 - 2026 BANKABLE IMPLEMENTABLE GOVERNED
Slide 2: CEO Word: From System Dependency to Payment Independence
CEO WORD From System Dependency to Joachim Samuelsson Crunchfish CEO Payment Independence The first quarter of 2026 marks an important step in Crunchfish’s development of payment systems that no longer depend on continuous system availability. Digital payments have become critical infrastructure, ye
Slide 3: News Update: Significant news during and after Q1
NEWS UPDATE 2026-04-13 March Significant news during and after Q1 Crunchfish CEO Joachim Samuelsson was interviewed in the latest P.I.T. Exchange 2026-03-31 podcast by Currency Research. Crunchfish announced a rights issue of 2026-04-17 April approximately SEK 15 million. Crunchfish received decisio
Slide 4: From Architecture to Infrastructure: Enabling the Next Generation of Payments
FROM ARCHITECTURE TO INFRASTRUCTURE Enabling the Next Generation of Payments 2026-03-09 January Governed offline architecture was endorsed by CBSO for resilient payment 2026-01-30 systems. Crunchfish showcased governed offline Digital payment systems can no longer be built on the assumption of const
Slide 5: Offline Payments as a Scalable Business Opportunity
FROM ARCHITECTURE TO INFRASTRUCTURE Trust and governance are central. Offline payments are pre-funded, payer-controlled and executed within defined limits. Risk is bounded, measurable and governed through Offline Payments as a configurable controls such as transaction thresholds, exposure caps and s
Slide 6: A Revenue Model Built for Scale
A Revenue Model Built for Scale A regulated entity can administer offline reservations not only for its own users, but on behalf Crunchfish has two complementary revenue engines. At the system level, we participate of other participants in the ecosystem. This enables non-regulated actors to offer of
Slide 7: Market Update: System Operators
MARKET UPDATE System Operators The collaboration also reinforces Crunchfish’s positioning of offline payments as a system- level infrastructure capability rather than a standalone wallet feature. By integrating governed offline functionality into broader payment infrastructure offerings, the Crunchf
Slide 8: Selection by Bank of England for Digital Pound Lab
During Q1, Crunchfish strengthened its positioning within Central Bank Digital Currency (CBDC) through its selection by the Bank of England to participate in the Digital Pound Lab. Crunchfish’s participation will focus on exploring use cases related to resilient digital payments and offline transact
Slide 9: Market Update: Service Providers
MARKET UPDATE Service Providers Payment service providers remain the primary interface between payment infrastructure and end users, delivering payment functionality through wallets, banking applications and merchant solutions. In Crunchfish’s model, service providers deploy the paying component of
Slide 10: Market Update: Events and Webinars
MARKET UPDATE Events and Webinars Crunchfish continued to maintain an active presence at key industry conferences and payment ecosystem forums during Q1, engaging with central banks, system operators, In addition, CEO Joachim Samuelsson participated in several external interviews and payment service
Slide 11: Financial Update: Financial Report
FINANCIAL UPDATE Financial Report Sales and earnings for the quarter Net sales amounted to SEK 324 (285) thousand for the first quarter and operating expenses amounted to SEK 7,202 (7,976) thousand. EBITDA for the period amounted to SEK -3,995 (-4,552) thousand. Loss before tax for the first quarter
Slide 12: Sales and Earnings for the Quarter, Parent Company
Sales and earnings for the quarter, parent company Financial calendar Certified Adviser The parent company’s net sales amounted to SEK 3,086 (3,386) thousand for the first Crunchfish AB publishes financial reports Västra Hamnen Corporate Finance AB is the quarter and operating expenses to amounted t
Slide 13: Group Income Statement and Balance Sheet
Group income statement (SEK) Group balance sheet (SEK) Q1 2026 Q1 2025 2025 Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Operating income Assets Net sales 324 095 285 174 709 253 Own work capitalized 1 846 667 2 072 978 8 101 559 Fixed assets Other operating income 616 836 586 643 2 517 430 Intangible ass
Slide 14: Group Balance Sheet cont. and Cash Flow Statement
Group balance sheet cont. (SEK) Group cash flow statement (SEK) Equity and liabilites Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Q1 2026 Q1 2025 2025 Equity Operating activities Operating profit or loss -4 414 070 -5 031 007 -20 089 866 Equity attributable to parent company Adjustments for non-cash inte
Slide 15: Parent Company Income Statement and Balance Sheet
Parent company income statement (SEK) Parent company balance sheet (SEK) Q1 2026 Q1 2025 2025 Assets Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Operating income Fixed assets Net sales 3 085 586 3 386 499 14 107 677 Other operating income 616 836 585 591 2 472 437 Tangible fixed assets Total operating in
Slide 16: Parent Company Balance Sheet cont. and Cash Flow Statement
Parent company balance sheet cont. (SEK) Parent company cash flow statement (SEK) Equity and liabilites Mar 31, 2026 Mar 31, 2025 Dec 31, 2025 Q1 2026 Q1 2025 2025 Equity Operating activities Operating profit or loss 86 421 106 564 723 920 Restricted equity Adjustments for non-cash intems 3 010 3 01
Slide 17: Crunchfish: Rethinking Payments
crunchfish RETHINKING PAYMENTS