Fragbite Group (FRAG) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was SEK 3.8 million, on par with pro forma Q1 2025, but down sharply from reported Q1 2025 due to divestments of three subsidiaries in 2025.

• EBITDA was negative at SEK -3.2 million, impacted by a SEK 1.2 million client loss from a delayed project in the Gaming segment.

• Net profit for the quarter was SEK -6.3 million, with diluted EPS at SEK -0.79.

• Strategic focus remains on achieving profitability by year-end 2026 and increasing recurring revenue.

Financial highlights

• Revenue: SEK 3.8 million (Q1 2025: SEK 42.2 million; pro forma Q1 2025: SEK 3.9 million).

• EBITDA: SEK -3.2 million (Q1 2025: SEK 0.7 million; pro forma Q1 2025: SEK 0.1 million).

• EBIT: SEK -6.1 million (Q1 2025: SEK -17.8 million).

• Net profit: SEK -6.3 million (Q1 2025: SEK -17.4 million).

• Cash flow from operating activities: SEK -7.6 million (Q1 2025: SEK 2.1 million).

• Cash and cash equivalents at period end: SEK 15.3 million.

Outlook and guidance

• Profitability for the full year 2026 remains the target.

• Recurring revenue is expected to increase, with new KPIs to be reported from Q2 2026.

• Options trading under Bitcoin Treasury began in April and generated SEK 0.6 million in revenue, with future revenue expected to fluctuate.

• MMA Manager 2 rerelease in the US is planned for spring, expected to boost revenue from Q3.