Norwegian fintech Huddlestock reported a sequential 30% reduction in operating expenses during the second quarter of 2026, as the company prepares for the October launch of its GIGA Broker platform. The cost-cutting measures contributed to a quarter-end liquidity position of NOK 9.6 million, up from NOK 3.8 million at the start of the period, despite a NOK 4.6 million cash outflow during the quarter.
The company also secured NOK 15 million in new loan facilities in Q2 and July 2026, bringing total secured facilities to NOK 23.5 million. Huddlestock’s shares rose 1.74% to $0.58 following the earnings update, though the stock remains down 21.37% year-to-date. Market capitalization stands at $17.47 million, with a 52-week high of $0.90 and low of $0.05.
Group revenue for the trailing twelve months reached $4.77 million, while EBITDA remained negative at $4.21 million. Gross profit margins stood at 15.88%, and the current ratio was 0.39, according to InvestingPro data. Huddlestock’s financial health score was assessed at 1.17, classified as weak.
Management outlined plans to scale its consulting arm, Visigon, with a target to exceed NOK 100 million in revenue by 2028. Visigon’s consulting revenue rose 30% year over year in Q2 2026, contributing to group consulting revenue that was about 20% above the prior year. The company also finalized a five-year service agreement with Merkur Andelskasse and acquired assets in Denmark through DoLand.
The GIGA Broker platform, scheduled for launch in October 2026, has undergone user group expansion and testing phases in June and July, with feature finalization and security testing planned for August and September. Huddlestock expects its Investment-as-a-Service business to achieve EBITDA and cash flow positivity by early 2027. Ramtin Matin joined as COO and CTO in July 2026, citing the company’s lean operational model as a key draw.
CEO Leif Arnold Thomas highlighted the firm’s cost discipline, noting efforts to suppress expenses since late 2025 had delivered the 30% sequential reduction in operating costs. The company’s lean team structure is positioned to support new customer onboarding without proportional cost increases.
