Goobit Group AB publishes its Interim Report Q1 2024/2025, 1 May 2024 - 31 July 2024

Overview Financial Results for Goobit Group AB (publ) (“Goobit” or “the Company”)

Q1, 1 MAY 2024 – 31 JULY 2024

– COMPARED WITH THE CORRESPONDING PERIOD OF THE PREVIOUS YEAR –

• Net sales amounted to 30.6 MSEK (21.5).
• Operating profit amounted to -3.4 MSEK (-3.1). The decrease of operating profit is mainly due to that operating expenses and personnel cost has increased, primarily for additional consultants, more than gross profit has improved during the period. Depreciation is however reduced by half for the period versus last year.
• Income after financial items amounted to -3.6 MSEK (-3,1).
• Earnings per share before and after dilution amounted to -0.013 SEK (-0.011).

Important Events During the Period

• Goobit Group AB’s subsidiary, Goobit AB ("Goobit" or “the Company”), announces that its supplier will no longer offer Swish payments in its current setup to the Company due to policy changes by Get Swish.

Important Events After the Period

• Goobit Group AB’s subsidiary, Goobit AB ("Goobit" or “the Company”), announces that its current supplier has unilaterally terminated Swish payment services for the Company, effective immediately August 15th. This action follows policy adjustments previously communicated by the supplier's partner. Goobit is currently onboarding with several new suppliers to restore Swish payment services and introduce a range of additional payment methods, enhancing the overall transaction experience for our customers.

Shareholder letter - Goobit Group AB

Dear Shareholders,

Privacy is not a private matter anymore. Let me explain this multifaceted statement. In today's digital age, privacy is one of the most underrated yet essential assets. While many recognize its necessity for digital security amidst omnipresent trackers and spyware, and the rampant commodification of personal data by major tech companies, there lies another, equally significant dimension: the increasing polarization of the world. This is another reason why privacy is no longer just a private matter; it must become a key public issue in society.

The Polarization Paradox
The world is becoming increasingly polarized, leading to disputes, violence, and an expanding surveillance state. In the worst-case scenario, this can escalate to war. For democracy to endure in this violence-surveillance cycle, the privacy of its citizens must remain inviolate. Protecting opinions, personal and politically sensitive information is vital for individuals to live and vote safely without fear of retribution. Without this, no democratic state can thrive or strengthen its free society, which, in turn, hampers economic growth and innovation.

Lessons from History
During the Second World War, Ludwig Neundörfer, an official at the Frankfurt Registry Office, secretly altered the city’s registry to protect individuals' religious backgrounds. His courageous actions saved lives and delayed the deportation of many. This historical example underscores the profound impact privacy protection can have on preserving lives and safeguarding individual rights.

Privacy in the Modern World: A Continuing Battle
Recent events highlight the continuing battle over privacy and free speech in our modern world. The ban of X (formerly Twitter) in Brazil, along with Mark Zuckerberg’s admission that Facebook complied with government requests to censor COVID-19-related posts, are just two recent, troubling signs. Furthermore, Pavel Durov, CEO of Telegram—possibly the world’s largest private chat platform—was recently detained in France (and later released on bail) for "enabling criminal activity" on the app. Similarly, there are concerning developments in the UK, where individuals are being imprisoned for social media posts deemed to incite hate.

Closer to home, the Swedish government has shown support for the EU's controversial Chat Control initiative, which would enable governments of the EU to monitor users of messaging apps. This proposal, now back in the European Parliament, poses a significant threat to the privacy and freedom of communication for citizens of Sweden and other countries.

These developments make it clear: free speech is not free on the internet or anywhere else unless people act.

Our Responsibility as a Financial Company
As a financial company handling hundreds of thousands of financial records, we bear a significant societal responsibility. Our role extends beyond identifying fraud and stopping criminal activities linked to terrorism and illegal enterprises.

We must also protect individual citizens, who, despite having nothing to hide, have everything to lose. These citizens trust us not to sell their data or lose it to unauthorized persons, whether they be criminal hackers, state-sponsored attackers, or even unauthorized access within the Swedish government.

Trust No-One Approach
To safeguard our customers, we exercise the "trust no-one" approach. This means that vital information is one-way encrypted, ensuring that not even we can access the most sensitive parts of our customers' data.

The Public Key
Why do we regard our customers' BTC public keys as so vital? Due to Bitcoin's 100% transparent architecture, a single piece of information—the public key—can help access the complete transactional history of an individual's wallet. It also provides access to all future transactions made by this wallet, as well as the transactions of all its counterparties—forever.

In the unlikely event of a data breach, there is no way to repair the damage done to the customer. Their financial records are exposed, compromising their privacy and security.

Privacy: A Matter of Life and Death
At Goobit Group AB, we recognize that privacy is not just a matter of security but a matter of life and death. Our commitment is to uphold the highest standards of privacy protection, ensuring that our clients' data remains secure and their trust in us unwavering.

We thank you for your continued support and trust in Goobit Group AB.

Sincerely,

Christian Ander, CEO
September 2024
Goobit Group AB (publ)

For further information, please contact:
Christian Ander, CEO, Goobit Group AB
Email: [email protected]

About Goobit Group | BTCX
Goobit Group AB (publ) operates in the financial sector. The company launched the world's longest running Bitcoin exchange BTCX in 2012. Goobit is Sweden's leading Bitcoin company in financial services and education. The company offers exchange services of fiat currencies to Bitcoin and has so far exchanged over 2.0 billion SEK. The company's most well-known brands are BTCX Express and Standard Bitcoin Exchange (BTCX). In addition to exchange services, the company also offers services in anti-money laundering (AML Desk) and compliance for crypto assets. Goobit Group AB (publ) was registered in 2013 and is a group with operations in the wholly-owned subsidiaries Goobit AB, Goobit Blocktech AB, and Goobit Exchange AB. Goobit AB targets private individuals, corporate customers, and financial institutions. The group has its headquarters in Gamla Stan, Stockholm, Sweden.

For more information, see Goobit's website www.goobit.se