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Arcario AB, the listed investment company that includes the crypto broker K33, today released figures for the 4th quarter and the whole of 2023. The figures show that K33 picked up speed in Q4, during the same period when crypto markets around the world went up in both exchange rates and volume. In Q4 2023, Arcario recorded net sales of SEK 85.7 million, compared to SEK 28.3 million in Q3. The bulk of this stems from K33, which offers both trading, analysis and consulting.
The figures now released do not capture the price war that the CEO of Arcario and K33, Torbjørn Bull Jenssen, started in the Norwegian market earlier this year, as we have featured in a separate article here, and also video interview Torbjørn Bull Jensen about here.
According to the quarterly report, Arcario also sees an increase in revenue in the fourth quarter compared to the same period in 2022. The report further states that Arcario shows improved operational efficiency with improved EBITDA compared to 2022 due to reduced expenses. The company, which now defines itself as an investment company, continued to focus on strengthening its portfolio companies combined with maintained financial prudence. According to Arcario, this is starting to yield results.
In the first quarter of 2024, Arcario completed acquisition of Vanir Finance AS, which will be a cornerstone to ensure positive operational cash flow for the coming year. During the same period, Arcario announced that K33 had expanded its offering of cryptocurrencies with seven new tokens. During the same period, Arcario's portfolio company LN Markets reported that it had secured $3 million in funding from Ego Death Capital, Lemniscap and Timechain.
These are some of the highlights from Q4 2023:
You can find the complete quarterly report on Arcario's investor relations pages.
Arcario AB, the listed investment company that includes the crypto broker K33, today released figures for the 4th quarter and the whole of 2023. The figures show that K33 picked up speed in Q4, during the same period when crypto markets around the world went up in both exchange rates and volume. In Q4 2023, Arcario recorded net sales of SEK 85.7 million, compared to SEK 28.3 million in Q3. The bulk of this stems from K33, which offers both trading, analysis and consulting.
The figures now released do not capture the price war that the CEO of Arcario and K33, Torbjørn Bull Jenssen, started in the Norwegian market earlier this year, as we have featured in a separate article here, and also video interview Torbjørn Bull Jensen about here.
According to the quarterly report, Arcario also sees an increase in revenue in the fourth quarter compared to the same period in 2022. The report further states that Arcario shows improved operational efficiency with improved EBITDA compared to 2022 due to reduced expenses. The company, which now defines itself as an investment company, continued to focus on strengthening its portfolio companies combined with maintained financial prudence. According to Arcario, this is starting to yield results.
In the first quarter of 2024, Arcario completed acquisition of Vanir Finance AS, which will be a cornerstone to ensure positive operational cash flow for the coming year. During the same period, Arcario announced that K33 had expanded its offering of cryptocurrencies with seven new tokens. During the same period, Arcario's portfolio company LN Markets reported that it had secured $3 million in funding from Ego Death Capital, Lemniscap and Timechain.
These are some of the highlights from Q4 2023:
You can find the complete quarterly report on Arcario's investor relations pages.
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