Reported Earnings • May 29
First quarter 2026 earnings released: kr0.38 loss per share (vs kr0.37 loss in 1Q 2025) First quarter 2026 results: kr0.38 loss per share (further deteriorated from kr0.37 loss in 1Q 2025). Revenue: kr3.61b (up kr3.56b from 1Q 2025). Net loss: kr42.7m (loss widened 76% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Announcement • May 19
Hilbert Group AB (publ), Annual General Meeting, Jun 17, 2026 Hilbert Group AB (publ), Annual General Meeting, Jun 17, 2026, at 14:00 W. Europe Standard Time. Location: advokatfirman lindahl office, on smalandsgatan 16, stockholm, stockholm Sweden Announcement • Apr 16
Hilbert Group AB (Publ) Announces Stepdown of Steen Jakobsen from the S Board Hilbert Group AB (publ) announced EGM to be held on May 7, 2026 Steen Jakobsen, who has requested to step down from the Board due to other commitments. Announcement • Apr 15
Hilbert Group AB (publ), Annual General Meeting, May 07, 2026 Hilbert Group AB (publ), Annual General Meeting, May 07, 2026, at 16:00 W. Europe Standard Time. Location: advokatfirman lindahl office on smalandsgatan 16, stockholm Sweden New Risk • Mar 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Swedish stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-kr677k). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (75% increase in shares outstanding). Minor Risk Market cap is less than US$100m (kr806.7m market cap, or US$85.2m). New Risk • Jan 13
New major risk - Negative shareholders equity The company has negative equity. Total equity: -kr677k This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-kr677k). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (70% increase in shares outstanding). Minor Risk Market cap is less than US$100m (kr797.7m market cap, or US$86.9m). Announcement • Nov 13
Hilbert Group AB (publ) Announces Board Changes, Effective November 12, 2025 Hilbert Group AB (publ) at its Extraordinary General Meeting held on November 12, 2025, approved election of Jonathan Morris as both Board member and chair of the Board and Resignations of Erik Nerpin and Stuart Connolly from their positions of director and Chairman respectively were accepted by the Board. New Risk • Nov 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 67% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2022 fiscal period end). Share price has been highly volatile over the past 3 months (14% average weekly change). Shareholders have been substantially diluted in the past year (67% increase in shares outstanding). Minor Risk Market cap is less than US$100m (kr918.6m market cap, or US$96.4m). Board Change • Sep 22
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. Independent Non-Executive Director David Butler is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Announcement • Sep 12
Hilbert Group AB (publ) announced that it has received SEK 5.500001 million in funding Hilbert Group AB announced that it has completed a private placement and issued 545,635 B shares at a price of SEK 10.08 for aggregate gross proceeds of SEK 5,499,990.72 on September 12, 2025. The transaction included participation from John Lilic. Announcement • Sep 03
Hilbert Group AB (publ) (OM:HILB B) agreed to acquire remaining 95% stake in Nordark AB for approximately SEK 160 million. Hilbert Group AB (publ) (OM:HILB B) agreed to acquire remaining 95% stake in Nordark AB for approximately SEK 160 million on September 2, 2025. The consideration consists of an initial 2.970105 million Hilbert B shares, subject to a two-year lock- up, with the potential to increase to a maximum of 16.830596 million shares if ambitious growth and profitability targets through 2027 are achieved. The acquisition of Nordark positions Hilbert Group to unlock substantial new revenue streams by combining its proven asset management and DeFi strategies with Nordark’s banking, trading, and lending infrastructure.
Closing of the transaction is subject to customary conditions and board approval and is expected to be completed by September 15, 2025.
Jockum Hultén of Snowball Capital and Web3 angel investor and Hilbert Group board advisor, John Lilic, acted as advisors in the transaction to Hilbert. New Risk • Aug 31
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 23% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (16% average weekly change). Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Significant insider selling over the past 3 months (kr5.0m sold). Market cap is less than US$100m (kr758.4m market cap, or US$80.1m). Recent Insider Transactions • Jul 24
Independent Chairman of the Board recently sold kr2.9m worth of stock On the 21st of July, Erik Nerpin sold around 224k shares on-market at roughly kr12.81 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Erik has been a net seller over the last 12 months, reducing personal holdings by kr4.4m. Announcement • Jul 24
Hilbert Group AB (Publ) Announces Board Changes Hilbert Group AB (publ) at Annual General Meeting held on July 23, 2025 and to elect Steen Jakobsen as new board member for the period until the end of the next Annual General Meeting. Frode Foss-Skiftesvik and Tim Grant had declined re-election and left the Board. Announcement • Jul 10
Hilbert Group Appoints Lars Seier Christensen to Its Advisory Board Hilbert Group AB announced that renowned international businessman Lars Seier Christensen, co-founder of Saxo Bank, will serve as Advisor to the Board. Lars is best known as a co-founder of Saxo Bank, where he played a pivotal role in transforming the institution into a globally recognized financial services provider with over 1.5 million customers. In addition to his work at Saxo Bank, Lars has been an active investor and thought leader in fintech and blockchain related companies, including London-based Concordium. Lars is also owner of several Michelin starred restaurants and a co-owner of the football club F.C. Copenhagen. Announcement • Jul 08
Hilbert Group AB (publ) announced that it has received SEK 200 million in funding Hilbert Group AB announced it has secured long-term financing of SEK 200,000,000 on July 7, 2025.The transaction includes participation from a US-based institutional partner. An engagement letter has been signed, with the transaction subject to customary closing conditions. New Risk • Jun 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Swedish stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (14% average weekly change). Minor Risk Market cap is less than US$100m (kr563.7m market cap, or US$59.2m). Announcement • Apr 24
Hilbert Group AB (publ), Annual General Meeting, Jun 13, 2025 Hilbert Group AB (publ), Annual General Meeting, Jun 13, 2025. Announcement • Apr 08
Hilbert Group AB Appoints Steen Jakobsen to Board of Directors, Effective May 23, 2025 Hilbert Group AB announced that Steen Jakobsen, former Chief Investment Officer of Saxo Bank, will join the company’s Board of Directors, effective following the company’s Annual General Meeting on May 23, 2025. Jakobsen was a key figure in the journey that transformed Saxo Bank from a smaller broker into a global leader with over 1.2 million clients. Over his more than 20 years at Saxo Bank, he played a pivotal role in establishing the institution's reputation for insightful financial research and thought-provoking analysis. His blend of macroeconomic research and actionable trading insights helped position Saxo Bank as a trusted source for investors and traders globally. Prior to Saxo Bank, Jakobsen held senior positions at Citibank, Chase Manhattan, and UBS. New Risk • Feb 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Significant insider selling over the past 3 months (kr1.5m sold). Market cap is less than US$100m (kr416.3m market cap, or US$38.0m). Announcement • Feb 07
Hilbert Group AB Announces Launch of Platform for Trading of Tokenized Equities and Popular Pre-Ipo Shares Such as Spacex, Openai and Antrophic Hilbert Group AB together with its subsidiary and partners COIN360.com CoinTe broadcast and CT.com and Galactica.com, are aiming to revolutionize Real-World Asset (RWA) tokenization on-chain in a fully compliant fashion. What this means is that people will be able to buy and sell tokenized equities and popular pre-IPO stocks, such as SpaceX and OpenAI, using crypto - in a decentralized manner. This enables fractional ownership and increased liquidity for previously restricted investment opportunities. Hilbert Group introduces (A as in asset) which is the world's first crypto protocol designed A360 for fully compliant on-chain spot trading of real-world equities and pre-IPO shares. In short, A360 is bridging real-world assets to decentralized finance. The new platform's growth will be accelerated by COIN360.com's large user base of 7 million visits per month. A key building block in the platform is Identity Virtual Machine (IVM), a cutting edge Galactica. Web3 identity and compliance framework that ensures end-to-end legal adherence without compromising security or privacy. In other words, Galactica's technology retains privacy while offering fully regulated on-chain transactions. Recent Insider Transactions • Jan 25
Independent Chairman of the Board recently sold kr982k worth of stock On the 23rd of January, Erik Nerpin sold around 200k shares on-market at roughly kr4.91 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Erik has been a net seller over the last 12 months, reducing personal holdings by kr1.9m. Announcement • Jan 01
Hilbert Group AB Announces Comprehensive Reboot of COIN360.com Hilbert Group AB announced a comprehensive reboot of COIN360.com, its subsidiary dedicated to cryptocurrency market data and analytics, known for its iconic heatmap. The reboot introduces an array of new advanced features, enhanced user interfaces, and robust analytical tools designed to reinforce its position as a leading visual guide for digital asset market intelligence. In addition, the COIN360 platform now features user-created content and tools that will be rated /moderated by the Coin360 community itself. In connection with the reboot, three new subscription tiers are introduced, and this will generate a new revenue stream for the website, on top of the existing advertising income. COIN360.com currently has 2.2 million active users and 65 million page views so far this year. Examples of some of the new features are: Fully customizable and shareable dashboards. Multifunctional profiles with advanced portfolio management. Web3 integration and NFT marketplace for user-created tools. Integrated news and articles for real-time insights. Gamified point system for engagement and rewards. In parallel to the user-created tools, a broad range of additional functionality will be rolled out over the months to come, including AI-predictors, trading assistants, strategy back-testing and an automatic reporting system, sourcing from the wallets users can connect to the website. Announcement • Dec 21
Hilbert Group AB (Publ) Announces Board Appointments The extraordinary general meeting of Hilbert Group AB (publ) in Stockholm on 20 December 2024 elected Niclas Sandström and Russell Thompson as new members of the Board. Niclas Sandström will enter the Board immediately. Russell Thompson will enter the Board in conjunction with closing of the acquisition of Liberty Road Capital. Announcement • Nov 27
Hilbert Group AB (publ) Announces Chief Execute Office Changes Hilbert Group AB (Publ) confirmed that its co-founder and CEO, Niclas Sandström, will step down from the CEO position as of January 1, 2025. The company's board of directors has appointed Barnali Biswal, currently serving as CIO of Hilbert Capital, as the new Chief Executive Officer for the group. Niclas Sandström will continue to hold an operative role in the company and will also become a member of the board at an EGM later this year. In this strategic capacity, he will focus on corporate strategy, M&A, and COIN360 developments. Barnali Biswal joined Hilbert Group as CIO of Hilbert Capital in February 2024. Prior to that, she was CIO for Atitlan, a quantitative multi-strategy crypto hedge fund in London. Before that, Barnali was at Goldman Sachs in London for 14 years as a Managing Director, running its European high- yield credit trading business. Barnali will be based in London. Announcement • Nov 26
Hilbert Group AB (publ) (OM:HILB B) acquired Liberty Road Capital Limited. Hilbert Group AB (publ) (OM:HILB B) acquired Liberty Road Capital Limited on November 26, 2024. As part of the transaction,Liberty Road Capital's employees would join Hilbert Group.
Hilbert Group AB (publ) (OM:HILB B) completed the acquisition of Liberty Road Capital Limited on November 26, 2024. Announcement • Sep 16
Hilbert Group and Xapo Bank Completes Launch of Bitcoin Yield Hedge Fund with $175 Million in Initial Investments Hilbert Capital, the asset management division of Hilbert Group AB and Xapo Bank have successfully launched the BTC-denominated credit fund. The fund has been established with 3,000 Bitcoins in initial investments (currently valued at USD 175 million, SEK 1.75 billion). Hilbert Capital is the investment manager for the Xapo Byzantine BTC Credit Fund which is planned to be made available to clients globally of Xapo Bank, subject to regulatory approval. The fund enables investors with Bitcoin balance sheets to earn a high-quality and institutional grade yield on their holdings. Recent Insider Transactions • Jul 28
Independent Chairman of the Board recently sold kr426k worth of stock On the 23rd of July, Erik Nerpin sold around 110k shares on-market at roughly kr3.87 per share. This transaction amounted to 6.5% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Erik's only on-market trade for the last 12 months. Announcement • Jul 04
Hilbert Launches New Bitcoin Yield Product with Significant Investment from Institutional Partner Hilbert Capital has developed and launched a quantitative investment solution to generate a yield on top of Bitcoin. The product has been awarded a sizable investment from a global-leading financial institution. The Hilbert Bitcoin Yield solution is designed to generate a consistent return of up to 6% over Bitcoin per annum. It uses the models and algorithmic trading techniques which Hilbert has applied over the last 7 years. Announcement • Apr 26
Hilbert Group AB (publ), Annual General Meeting, May 24, 2024 Hilbert Group AB (publ), Annual General Meeting, May 24, 2024, at 10:00 Central European Standard Time. Location: The office of Advokatfirman Nerpin, Birger Jarlsgatan 2, 3rd floor, Stockholm Sweden Agenda: To consider Presentation of the annual report and the auditor's report as well as the consolidated accounts and the consolidated auditor's report; to consider Decision on approval of the income statement and balance sheet as well as the consolidated income statement and consolidated balance sheet; to consider Decision on dispositions regarding the company's profit according to the approved balance sheet; to consider Decision on discharge of liability for the members of the Board of Directors and the President; to consider Determination of the number of board members; to consider Determination of the number of auditors and deputy auditors; to consider Determination of fees to the Board; to consider Determination of fees to the auditor; to consider Election of board members and chairman of the board; to consider Election of auditor and any deputy auditors; and to consider other matters. New Risk • Feb 19
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Shareholders have been diluted in the past year (6.4% increase in shares outstanding). Market cap is less than US$100m (kr301.3m market cap, or US$28.9m). Announcement • Feb 08
Hilbert Capital Appoints Barnali Biswal as Chief Investment Officer Hilbert Group AB (publ) announced that Ms. Barnali Biswal has joined Hilbert Capital, the asset management subsidiary of Hilbert Group AB, as its Chief Investment Officer to manage and develop its quantitative investment solutions for its growing number of institutional investors. Barnali was at Goldman Sachs in London for 14 years as Managing Director, running its European high-yield credit trading business which included managing a $1 billion+ portfolio. For the last 3 years, Barnali was Chief Investment Officer of Atitlan, the quantitative multi-strategy crypto hedge fund based in London. Hilbert's investment team has worked closely with Barnali behind the scenes for 2 years on strategy development, and she was an investor across multiple Hilbert products during that period. At Hilbert, Barnali will be responsible for the investment management and development of its quantitative trading strategies. Her appointment enables Hilbert's quantitative research team, led by Dr. Magnus Holm, to focus 100% of its time on improving trading strategies and finding new alpha to be exploited. The Hilbert investment team consists of 7 senior investment professionals, including 4 quantitative PhDs. Board Change • Dec 12
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Chairman of the Board Erik Nerpin was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Dec 01
Hilbert Group AB (Publ) Appoints Tim Grant to the Board Hilbert Group AB (publ) welcomed Tim Grant to the Hilbert Group board. Tim is the CEO of the $1bn investing and operating company DeusX and the former head of Galaxy Europe, Middle-East and Africa. Tim has significant experience at a senior level on both the sell-side and buy-side, a track record of building and leading successful blockchain businesses, and is an industry thought-leader. Tim will be a strong addition to the board as continue to capitalize on sustained growth and further position Hilbert as a leading digital assets investment solutions provider for institutional investors. Announcement • Nov 15
Hilbert Group AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 17.000011 million. Hilbert Group AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 17.000011 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 3,687,638
Price\Range: SEK 4.61
Transaction Features: Subsequent Direct Listing Announcement • May 27
Hilbert Group AB (publ), Annual General Meeting, Jun 15, 2023 Hilbert Group AB (publ), Annual General Meeting, Jun 15, 2023, at 10:00 Central European Standard Time. Location: Nerpin AB's office, Birger Jarlsgatan 2, 3rd floor Stockholm Sweden 