Voi profitable in Q3’23

From VNV Global Q3’23 report

Today VNV Global reported Q3’23 earnings. One thing that caught my eye was that Voi was EBIT break-even in Q3.

There likely are financing costs (a.k.a. the Interest in Earnings Before Interest and Tax), but to have one of the leading Swedish startups of the last few years turn the corner to operating profitability is clearly positive.

And also worth noting the 30 percentage point improvement in one year, e.g. from ca -30% to ca 0% EBIT margin. There is a lot of operating leverage in digital companies.

Author: Henrik Torstensson

Partner at Alliance VC. Investing in Nordic early-stage tech startups.

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