21.2.2025 07:00:01 CET | Huddlestock Fintech AS | Additional regulated
information required to be disclosed under the laws of a member state

Huddlestock Fintech AS ("Huddlestock") reports a total operating income of NOK
18.0 million for the fourth quarter 2024, an increase of 16 percent compared to
NOK 15.5 million in the third quarter 2024. The increase was driven by an 8
percent growth in Investment-as-a-Service (IaaS) and 23 percent growth in
Consulting (Visigon) revenue. Total operating expenses increased 6 percent to
NOK 23.8 million, mainly related to the settling of year-end accounts. This
resulted in an EBITDA of negative NOK 5.8 million in the fourth quarter of 2024
- a NOK 1.0 million improvement from the previous quarter. 

For the full-year of 2024, total operating income was NOK 71.5 million which
compares to NOK 71.8 million operating income for 2023 which is adjusted for NOK
13.4 million income from the divested Huddlestock Solutions (F5IT). The
year-over-year development is driven by a 24 percent increase in IaaS revenue
which is offset by a 14 percent decrease in Visigon revenue. The 2024 EBITDA was
negative NOK 22.0 million. 

"The fourth quarter demonstrate a revived growth in both our consulting and IaaS
businesses." says Leif Arnold Thomas, CEO of Huddlestock. "We move into 2025
with an optimistic view and a revised strategy for growing our business across
three distinct verticals supported by strong partnerships."

Three-pillar strategy for growth 
In 2023, Huddlestock completed three acquisitions and one divestment resulting
in significant changes to its business model. In the first half of 2024, the
company took steps in the right direction to support a continued profitable
Consultancy business (Visigon), unlocking growth in Investment-as-a-Service, and
to pursue an accelerated entry into the German market. Huddlestock will now
continue its focus on scaling across a three-pillar strategy.

During the second half of 2024, Visigon revised its strategy to act on the
shifting dynamics of the IT-services industry. In 2025 the Consulting division
launched Visigon Managed Services in partnership with software providers like
Nasdaq Financial Solutions. The new suite of services includes Application
management and support, Hosting solutions, and Business Process Outsourcing,
which will contribute to increased share of recurring revenue from the business
segment. The strategy has already materialized in a newly launched contract with
the Export and Investment Fund of Denmark (EIFO) and holds potential for
accretive revenue expansion in growing markets defined by increased complexity.

In January 2024, Huddlestock announced a Letter of Intent (LOI) with AVL
Finanzvermittlung Beteiligungen GmbH ("AVL") for a potential collaboration to
offer trading and investment services to the German market. In September 2024,
Huddlestock signed an agreement with its local German fintech partner Tradevest
Digital Assets GmbH and Tradevest Technologies Warsaw SP. Z O.O. (collectively
referred to as "Tradevest"). The agreements intend to leverage Tradevest's
brokerage & custody software solutions, AVL's industry track record as a leading
broker in the discount segment since 1997, and Huddlestock's regulatory umbrella
to shape a collective market entry under a new brand name. Huddlestock is
pleased to report that discussions are moving forward in the right direction.

Significant efforts have been made to unlock the growth potential of the
Investment-as-a-Service platform in the Nordic markets by consolidating acquired
technologies, ensuring the full suite of technology and services is accessible
to both existing and new customers across the region. To further drive this
growth, Huddlestock will focus on facilitating accelerated revenue expansion
through more cost-effective client acquisitions.

Huddlestock will through this three-pillar strategy for growth through
partnerships focus on portfolio optimization, resource efficiency, and long-term
value creation across three distinct business areas. At the end of the fourth
quarter Huddlestock had a cash position of NOK 10.9 million and the company
continues its ongoing work to identify potential financing partners to support
its strategy, including non-organic growth.

 
Presentation and Q&A
Huddlestock's Chairman of the Board, Øyvind Hovland, and the CEO Leif Arnold
Thomas, will host webcast presentations of the results in Norwegian and English
today, followed by Q&A sessions (10:00 CET in Norwegian / 12.00 CET in English).

- Norwegian presentation and Q&A, at 10:00 CEST To participate, please register
your interest with:
https://events.teams.microsoft.com/event/4430323a-4e39-4a98-b56c-42a620b6bd82@c1
a5a59d-592c-49a2-ada8-beedc552d1f5

- English presentation and Q&A, at 12:00 CEST To participate, please register
your interest with:
https://events.teams.microsoft.com/event/91d20e94-c1e5-40dc-b0cb-caace0ea72c1@c1
a5a59d-592c-49a2-ada8-beedc552d1f5

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

CONTACTS

 * Leif Arnold Thomas, Chief Executive Officer, Huddlestock Fintech AS, +47 982
   15 520, leif.thomas@huddlestock.com 

ABOUT HUDDLESTOCK FINTECH AS

Huddlestock is an innovative technology software provider through its
Investment-as-a-service offering, with full operational service support and a
leading financial Consultancy services business. We deliver innovative and
sustainable technology and operational solutions to companies offering financial
products and services.

Find out more at huddlestock.com - https://www.huddlestock.com/

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17848032/18429781/5653/Download%20announce
ment%20as%20PDF.pdf

Huddlestock Fintech Q4 2024 presentation.pdf -
https://kommunikasjon.ntb.no/ir-files/17848032/18429781/5652/Huddlestock%20Finte
ch%20Q4%202024%20presentation.pdf