ZignSec

Second quarter in summary

• Net revenue amounted to SEK 21.8 (21.1) million, an increase of 3% compared with the corresponding quarter the year before.
• EBITDA amounted to SEK -1.9 (-7.1) million.
• Cash and cash equivalents amounted to SEK 25.1 (8.2) million.
• Equity amounted to SEK 139.6 (184.5) million.

Significant events during the second quarter

• ZignSec's subsidiary Web Shield signed a customer agreement with a leading Nordic-Baltic banking group to streamline their onboarding process for new merchant accounts and monitoring existing clients.

• The Board initiated a process to evaluate ZignSec's potential strategic alternatives to maximize shareholder value, which may include a sale of the Company or other possible transactions.

• In June, ZignSec carried out a rights issue that was subscribed for a total of approximately 87.5 percent. The rights issue generated approximately SEK 24.1 million after issuing costs.

Significant events after the end of the second quarter

• ZignSec’s newly launched proof of address solution has started to generate revenue, and several new agreements has been signed with both new and existing clients.

A comment from the CEO Glenn Mac Donald: 

In Q2 2024, net revenue reached SEK 21.8 million, an increase by 3% compared to the same period last year. Our core segments, Know Your Business (KYB) and Know Your Customer (KYC), have shown robust performance with stable margins. Our priorities for the remainder of 2024 include deepening our presence in key markets, enhancing our product portfolio, and driving further operational efficiencies.

For more information, please contact:

Glenn Mac Donald, CEO

Tel: +31 647 13 26 22

glenn.macdonald@zignsec.com

Marie-Louise Gefwert, Chairman of the Board

Tel: +46 70 644 90 80

marie-louise.gefwert@zignsec.com

About ZignSec

ZignSec is a technology group in the fast-growing RegTech industry. The company provides SAAS platform with digital real-time solutions for customer due diligence and ID verification with global reach. The solutions are used by companies that in turn can optimize their processes for "onboarding" both corporate customers and consumers and at the same time ensure compliance with ever-changing local and global regulatory requirements for Know Your Customer (KYC) and Anti Money Laundering (AML).

Link to where the report is published on ZignSec’s Website:

https://zignsec.com/investorrelations/

Nasdaq First North (ZIGN)

Certified Adviser: Eminova Fondkommission AB, Phone: +46 8 684 211 00