Summary

Valuno reports a net turnover of 28.2 mEUR during the second quarter of '25/26, compared to 129.0 mEUR during the same quarter last year. The decrease compared to last year is due to an ongoing restructuring of the Group's revenue models. The gross margin was 1.4% during the quarter.

Second quarter, October-December 2025 in summary

• Net turnover was 28.2 mEUR (129.0).
• Gross profit was 0.4 mEUR (3.7) with a gross margin of 1.4% (2.9%).
• Adjusted EBITDA was -1.9 mEUR (1.3).
• Operating profit was -2.9 mEUR (1.2).
• Earnings per share before dilution were -0.01 EUR (0.01).

Six months period, July-December 2025 in summary

• Net turnover was 35.5 mEUR (204.7).
• Gross profit was 0.4 mEUR (6.1) with a gross margin of 1.1% (3.0%).
• Adjusted EBITDA was -3.9 mEUR (1.6).
• Operating profit was -5.4 mEUR (1.2).
• Earnings per share before dilution were -0.01 EUR (0.01).

Events during the quarter

• Valuno signed a letter of intent for a joint venture with D2I and Citigiro.
• The Tax Authority made a decision to impose VAT and tax surcharge on Valuno regarding RÅ 2021/2022.
• Valuno decided on a new share issue of approximately 25.6 million SEK.
• The NGM Disciplinary Committee decided to impose a fine of 200,000 SEK on Valuno due to how the company handled and disclosed information in connection with the Financial Supervisory Authority's decision to reject QB Europe AB's application for authorization under MiCA.
• Valuno announced a strengthened partner structure with Mandato and Zodia Markets.
• Valuno decided on a new share issue of an additional 10.0 million SEK.
• Valuno announced that Mandato had chosen Valuno as the technology supplier in a massive trade finance deal.
• Valuno announced that it had taken big steps towards a license-independent business model.
• The Administrative Court established through a judgment that Valuno should be granted a deferral of the VAT imposed by the Tax Authority regarding RÅ 2021/2022, and referred the case back to the Tax Authority for re-examination.

Events after the quarter

• Citigiro Holding AB requested that the Board convene an Extraordinary General Meeting with the aim of changing the composition of the Board. The Extraordinary General Meeting will be held on February 25, 2026.