The fourth quarter 2025
(compared to fourth quarter 2024)
- Revenues amounted to KSEK 61,374.7 (KSEK 42,191.1)
- Operating profit/loss (EBIT) totalled KSEK -118,858.8 (KSEK -15,888.4)
- Results for the period were KSEK -113,061.8 (KSEK -5,991.6)
- Net Cash flow from operating activities amounted to KSEK -12,499.5 (KSEK -10,549.9)
- Earnings per share before and after dilution amounted to SEK -1.06 (SEK -0.03)
Full year January – December 2025
(compared to full year 2024)
- Revenues amounted to KSEK 204,139.1 (KSEK 112,977.5)
- Operating profit/loss (EBIT) totaled KSEK -170,213.1 (KSEK -49,718.6)
- Results for the period were KSEK -218,289.8 (KSEK -43,329.3)
- Cash flow from operating activities amounted to KSEK -81,577.1 (KSEK -36,650.8)
- Earnings per share before and after dilution amounted to SEK -2.64 (SEK -0.60)
HILBERT GROUP FINANCIAL REPORTS CAN BE FOUND HERE.
A VIDEO PRESENTATION OF THE Q4 2025 REPORT AND THE BUSINESS OUTLOOK FOR HILBERT GROUP CAN BE FOUND HERE.
Highlights from the CEO’s address:
Transformational Year & Platform Shift
2025 marked a strategic inflection point, with three acquisitions (Liberty Road Capital, Nordark, Enigma) repositioning Hilbert into an integrated digital financial services platform.
Institutional Validation & Growth
Capital commitments secured from a $25bn allocator and a leading sovereign wealth fund, with a growing pipeline of ~ $300m in institutional capital.
Revenue & AUM Growth
Q4 revenue increased +45.5% YoY, with full-year revenue of KSEK 204.1m and total AUM approaching $400m (note that the USD equivalent AUM fluctuates with the Bitcoin price).
Proven Performance in Volatile Markets
Basis+ USD returned +29.26% net for full-year 2025. Basis+ BTC returned +20.19% net in Bitcoin terms. The strategies have seen continued strong risk-adjusted returns into 2026 despite significant market drawdowns.
Clear Path to Scalable Growth
Three synergistic pillars — Asset Management, Banking & Lending (Nordark), and On-chain Finance — now positioned to drive the next phase of institutional expansion.
For further information, please contact:
Barnali Biswal, CEO or
Niclas Sandström, Co-founder
+46 (0)8 502 353 00
