In the summer of last year, it was announced that Bolt would cut the workforce of its acquired Tipster by half in 2021. Tipser provides a platform that provides the ability to integrate e-commerce into any digital platform. It now goes by the name Bolt Checkout everywhere.
But it costs more than just running the company so far. Now we have the numbers in black and white, showing why Bolt needs to make the cut. Last year turnover decreased from SEK 43.4 million to SEK 34 million. At the same time, the loss increased from -143 to -189 million.
Part of that can be precisely attributed to personnel costs, which increased from -106 million in 2021 to -122 million in 2022.
The equity ratio fell to just 3.7 percent after the loss, but the company lives on despite the fact that it has yet to show signs of turning a profit.
Currently, liquidity is sufficient for Tipser AB and full coverage of tie-up equity for at least 12 months, the annual report said, with the provision of parent company Bolt Inc.
After being fully integrated into an all-share American holding company, the focus has shifted to the US and UK. Whether it will be the start of the turnaround the tipster needs remains to be seen.
The company writes that the management and the board are constantly monitoring the development of the business in this environment so that the risks and situations that arise can be dealt with quickly and efficiently.
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