The Board of Directors of QBNK Holding AB (publ) ("QBNK" or the "Company"), a leading Nordic Digital Asset Management (DAM) supplier, today has resolved to initiate a process to explore QBNK’s potential strategic alternatives to maximize shareholder value. As part of the process, the Board of Directors will consider all potential strategic alternatives, which could include a sale of the Company or other possible transactions. In connection with the review, the Company publishes certain preliminary financial information for the fourth quarter 2024.
As of 1 January 2025 QBNK had annual recurring revenues (ARR) of SEK 35.7 million and the Board of Directors’ ambition is that the Company, with continued revenue growth and solid cost control, shall achieve a positive operating profit (EBIT) for the financial year 2025. The Company is currently listed on Spotlight Stock Market and had a cash position of about SEK 21 million and no interest-bearing debt as of 31 December 2024. The financial information presented above has not been subject to the auditor’s review and the full year-end report for the period 1 January - 31 December 2024 will be published on 7 February 2025. The information is comparable to the historical financial information and prepared in accordance with the Company's accounting principles.
According to the Board of Directors, the Company has a strong DAM product targeting the Enterprise segment with the Nordic region as its home market, and a customer portfolio that includes several of Sweden’s largest companies. The DAM market in which QBNK operates has an estimated annual growth rate of about 15% the next five years.
The Board of Directors has engaged Redeye, a leading Nordic investment bank focused on Tech and Life Science, as its financial advisor to assist in reviewing strategic alternatives. Törngren Magnell & Partners Advokatfirma KB has been appointed as legal advisor in connection with the review process.
The Board of Directors has not set a timetable for completion of its review. There can be no assurance regarding the results or outcome of QBNK’s review of strategic alternatives. Subject to compliance with its ongoing disclosure obligations pursuant to applicable laws and regulations, QBNK undertakes no obligation to make any further announcements regarding the exploration of strategic alternatives unless and until final decisions are made by the Company’s Board of Directors.
For more information, please contact:
Anna Gomes, CEO
anna.gomes@qbank.se
Fredrik Grevelius, Board member
fredrik.grevelius@telia.com
This information is information that QBNK Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above on 2025-01-15 08:30 CET.
Download the Press Release here »»