Arcario publishes Interim Report for Q3 2023
Arcario's interim report for Q3 and the first nine months of 2023 highlights a period of strategic recalibration and resilience. Despite leaner revenue, the company's dedication to operational efficiency has improved EBITDA performance. With a steadfast focus on fortifying its portfolio companies and financial prudence, Arcario has strengthened its fiscal discipline. These efforts have begun to stabilize its financial foundations, priming the company for a robust capital strategy soon to be unveiled. The full Q3 2023 report is published at arcario.com/ir.
Third quarter of 2023
Compared to third quarter 2022
- Group revenue decreased to 28,277 kSEK (52,186)
- EBITDA amounted to -6,489 kSEK (-7,336)
- Adjusted EBITDA amounted to -4,489 (-7,336)
- EBIT amounted to -10,721 kSEK (-12,703)
- The result for the period amounted to -7,867 kSEK (-13,290)
- Earnings per share before dilution amounted to SEK -0.001 (-0.002)
- Earnings per share after dilution amounted to SEK -0.001 (-0.001)
First nine months of 2023
Compared to first nine months of 2022
- Group revenue decreased to 97,875 kSEK (242,806)
- EBITDA amounted to -16,578 kSEK (-30,065)
- Adjusted EBITDA amounted to -16,578 kSEK (-19,166)
- EBIT amounted to -29,603 kSEK (-77,279)
- The result for the period amounted to -38,259 kSEK (-79,741)
- Earnings per share before dilution amounted to SEK -0.004 (-0.009) and after dilution to -0.009 (-0.009)
Michael Jackson, Chair of Arcario comments:
We anticipate shortly being able to release details of the steps we will take to regain a solid capital base.
Torbjørn Bull Jenssen, CEO of Arcario and K33 comments:
I’m really excited as I believe we are in a great position to finally accelerate our growth and benefit from the positive shift in market sentiment.
Main events during Q3 2023
- On September 27, Arcario notified the market that it had less than three months of working capital.
- On August 22, Q2 interim results for the Arcario group were released.
- On August 21, it was announced that Arcario intends to renew its application for a US listing on the OTCQB.
- On July 28, it was announced that Arcario’s K33 signed an investment agreement with Liquid Mercury.
- On July 5, it was announced that Arcario’s Finpeers reached a significant milestone following regulatory approval of its first token.
- On July 5, it was announced that Arcario’s LN Markets sustained its strong performance in Q2 2023.
- On July 4, it was announced that Arcario completed the acquisition of Shares in Finpeers.
- On July 3, it was announced that Arcario’s K33 subsidiary explores a strategic investment from Chicago-based Liquid Mercury.
After the end of the period
- On October 11, it was announced that Arcario’s K33 Markets were officially launched and ready to onboard new clients.
For further details or queries, please contact Arcario AB's IR team at [email protected] or visit arcario.com/ir.
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About Arcario
Arcario is a Scandinavian trailblazer in the digital asset space, committed to shaping the future of finance as we know it. The company boasts a diversified portfolio that includes K33, a research-led digital assets brokerage, Green Data, an eco-friendly Bitcoin mining operation, and minority stakes in LN Markets, a Bitcoin exchange leveraging the Lightning Network, Pure Digital, a digital currency interbank OTC market and Finpeers, a startup democratizing access to private financial markets through tokenization. The Company is listed on Nasdaq First North Growth Market and Mangold Fondkommission is Certified Adviser.