Lokotech Group (LOKO) H2 2025 earnings summary

Executive summary

• Transitioned from startup to commercialization, raising NOK 139 million via rights issue to fund mass production and strengthen the balance sheet.

• Advanced Scrypt/AI ASIC development, with tape-out dry runs started in December 2025 and commercial delivery targeted for H2 2026.

• Strengthened governance with a more independent board and new management, including an interim CFO and new auditors.

• Focused on core verticals, winding down unprofitable segments and prioritizing mining, hosting, and data center operations.

Financial highlights

• Group revenue for 2025 was NOK 10,309,355, up from NOK 3,803,155 in 2024, driven by Powerpool Mining SL.

• Group net loss for 2025 was NOK -36,803,557, with significant non-cash items from R&D depreciation and option programs.

• Equity ratio improved to 95.00% at year-end 2025 from 68.44% in 2024; cash and cash equivalents rose to NOK 37,002,186.

• Powerpool Mining SL delivered net revenues of €874,219, with daily net revenue up 54% year-over-year.

Outlook and guidance

• Initial ASIC deliveries expected in H2 2026; further product refinements and new versions planned post-market launch.

• Short-term goals for 2026 include expanding land leaseholds to at least 4 MW, doubling Powerpool hashrate, and scaling PowerHosting to 3 MW.

• Management expects continued market volatility but sees positive regulatory trends and strategic opportunities in AI and blockchain convergence.