ZignSec
Year-end Report 2023 (MFN)
With interim report for the period 1 October 2023 to 31 December 2023
Full year 2023 in summary
- Net revenue amounted to SEK 84.7 (89.9) million, a decrease of 6% compared with the corresponding period the year before.
- EBITDA amounted to SEK -22.6 (-23.5) million.
- Cash and cash equivalents amounted to SEK 14.3 million.
- Equity amounted to SEK 149.6 (213.7) million.
Fourth quarter in summary
- Net revenue amounted to SEK 19.9 (20.8) million, a decrease of 4% compared with the corresponding quarter the year before.
- EBITDA amounted to SEK -4.4 (-5.6) million.
- Cash and cash equivalents amounted to SEK 14.3 million.
- Equity amounted to SEK 149.6 (213.7) million.
Significant events during the fourth quarter
- ZignSec has, through its subsidiary Web Shield, launched a new Regulatory Monitoring platform for cryptocurrency merchants called CompliancePass, that allows crypto businesses to prove their compliance with local laws and industry rules.
- ZignSec carried out a directed issue of shares and warrants that raised SEK 8.6 million before issuing costs.
A comment from the CEO Glenn Mac Donald:
During the quarter, we generated net revenue of SEK 19.9 million, which is a decrease of 4% compared to the same period the prior year. Despite facing some challenges, several key achievements have been accomplished with laying a solid foundation for future growth, and our geographic expansion continues as we enter new diverse markets with our clients.
Our portfolio expanded with the release of new solutions and innovations to the existing offering. We successfully launched CompliancePass, our new regulatory monitoring platform for crypto businesses and an innovative Proof of Address solution generating significant interest in the iGaming industry.
For more information, please contact:
Glenn Mac Donald, CEO
Tel: +31 647 13 26 22
Marie-Louise Gefwert, Chairman
Tel: +46 70 644 90 80
marie-louise.gefwert@zignsec.com
About ZignSec
ZignSec is a technology group in the fast-growing RegTech industry. The company provides SAAS platform with digital real-time solutions for customer due diligence and ID verification with global reach. The solutions are used by companies that in turn can optimize their processes for "onboarding" both corporate customers and consumers and at the same time ensure compliance with ever-changing local and global regulatory requirements for Know Your Customer (KYC) and Anti Money Laundering (AML).
Link to where the report is published on ZignSec’s Website:
https://group.zignsec.com/investor-relations/
Nasdaq First North (ZIGN)
Certified Adviser: Eminova Fondkommission AB, Phone: +46 8 684 211 00
This information is information that ZignSec 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, at 2024-02-23 08:00 CET.
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