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HILBERT GROUP PUBLISHES YEAR-END REPORT FOR 2025

Hilbert Group

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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

About Us

Hilbert group is a quantitative investment company specializing in algorithmic trading strategies in digital asset markets.

Hilbert Group is a Swedish public company and is committed to providing operational infrastructure, risk management and corporate governance that meets the ever-increasing demands of institutional investors.

Hilbert Group is listed on Nasdaq First North Growth Market (ticker HILB B) with Redeye Nordic Growth AB as Certified Adviser.

For more information, visit: www.hilbert.group