Huddlestock said its second-quarter EBITDA held steady at NOK -6.2 million, while net losses narrowed to NOK 11.9 million as cost discipline offset a 13% sequential decline in operating income.
The Oslo-based group, which operates through subsidiaries including Visigon, reported Q2 operating income of NOK 9.0 million against expenses of NOK 15.2 million, a 7% reduction from the prior quarter. Cash burn slowed to NOK 8.1 million in the period, while liquidity rose to NOK 9.6 million after securing a NOK 5 million loan facility in July. Total facilities now stand at NOK 15 million.
The company’s German neobroker unit, GIGA Broker, remains on track for a public launch in October, later than initially planned. Simon Lange, CEO of GIGA Broker, said the venture aims to rank among Germany’s top three neobrokers within three years. Huddlestock also confirmed plans to expand into Poland, with the first local employee set to join in October, and Nordic expansion slated for 2027.
Visigon, Huddlestock’s compliance and sustainability reporting arm, posted Q2 revenues of NOK 2.3 million, a 30% year-over-year increase. The unit targets revenue of more than NOK 100 million by 2028, with EBITDA margins seen rising from a baseline of 9% to above 20%.
Huddlestock’s shares traded at NOK 0.58, up 1.74% on the day, well below the group’s 52-week high of NOK 0.90. The company also disclosed that a guarantee consortium has committed NOK 23.5 million for 12 months, with a share price cap set at the lower of NOK 0.60 or the five-day average before maturity.
The group’s Q2 results follow user group expansion and trade executions in June and July, alongside the acquisition of DoLand ApS, a Danish sustainability reporting provider. Charlotte Skovgaard, CEO of Merkur Andelskasse, said the deal would help Visigon maintain client-focused reporting standards.
Huddlestock reiterated its 2027 target for the Investment-as-a-Service unit to turn cash flow positive, while Visigon’s 2028 growth targets remain unchanged.
