Goobit Group reports a quarter of significantly weaker results, while its MiCA licence application remains under review with Sweden's Financial Supervisory Authority. Net revenue fell to SEK 24.3 million, and operating profit came in at minus SEK 13.1 million.
Christian Ander (photo) is CEO of publicly listed Goobit Group and runs the Swedish crypto exchange BTCX.
For Nordic crypto firms, a MiCA licence is essential to operate legally across the EU/EEA from summer 2026. Goobit has had its application under review with Sweden's Financial Supervisory Authority since autumn 2025, while several Nordic competitors have already secured approval (see Kaupr's overview of MiCA status across the Nordics and Baltics). At the same time, the quarterly report shows the underlying numbers weakening significantly.
In February, Goobit launched a strategic initiative for mergers, acquisitions, and partnerships, aimed at consolidating and strengthening the Nordic crypto market before MiCA enters into full force. Among other things, the company is looking into partnerships with global exchanges seeking Nordic market access, consolidation with smaller regional players facing increased costs under MiCA, and collaboration on compliance and infrastructure.
Christian Ander spoke about this initiative directly on Kaupr TV the same day it was announced. "The Nordic crypto market is entering a consolidation phase. We have built regulated infrastructure, local banking relationships and compliance capabilities over more than a decade. We are now inviting global and regional partners to explore strategic combinations that can accelerate growth and create long-term value," said Christian Ander in the interview, which you can both watch and read about here.
In the quarter from February to April, net revenue fell to SEK 24.3 million, down from SEK 63.9 million in the same period a year earlier. For the full financial year, May 2025 to April 2026, revenue fell to SEK 97.1 million from SEK 329.5 million.
A significant part of the decline stems from a change in accounting principle for OTC transactions (over-the-counter, direct trades between parties outside the exchange). These are now recognised on a net basis rather than gross, since they effectively represent order execution rather than trades through the company's own crypto inventory. The change does not affect gross profit, but produces a substantially lower revenue figure than in previous years' reporting.
Operating profit for the quarter came in at minus SEK 13.1 million, compared with minus SEK 3.9 million in the same period last year. For the full year, operating profit was minus SEK 21.1 million, compared with minus SEK 9.4 million the year before.
Two one-off items contributed to the weaker result: an impairment of SEK 4.5 million related to intangible assets in subsidiary Goobit Blocktech AB, mainly tied to older, discontinued development projects, and a further impairment of SEK 4.6 million on the company's bitcoin holdings.
Transaction volume at BTCX, Goobit's OTC service, rose to SEK 274.3 million in the quarter, up from SEK 63.9 million a year earlier. The figure isn't directly comparable to the revenue numbers, however, as it measures gross volume under the old accounting principle, while revenue is now reported net. The volume growth nonetheless shows that OTC trading represents a growing share of activity at Goobit.
With the MiCA application still under review and the financials showing clear signs of weakness, Goobit's path forward is closely tied to both the Financial Supervisory Authority's decision and the outcome of its M&A initiative — two tracks now running in parallel toward the 30 June 2026 deadline.
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Sources: Goobit Group, Kaupr TV
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