# Safello Swings to SEK 0.7 Million Q3 Profit as Turnover Falls 41%

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/51236
Published: 2026-11-08T01:12:34.000Z
Updated: 2026-11-08T01:12:34.000Z
Section: Business

> Operating profit reached SEK 0.8 million, but Safello remained loss-making for the first nine months as customer numbers and orders declined.

Safello Group AB posted a net profit of SEK 0.7 million in the third quarter of 2026 as turnover fell 41% year over year, while customer activity and order volumes also declined.

For the quarter ended Sept. 30, net profit compared with a SEK 1.1 million loss in the year-earlier period. Net turnover was SEK 98.4 million, down from SEK 165.7 million. Operating profit reached SEK 0.8 million, reversing an operating loss of SEK 1.1 million. EBITDA rose to SEK 1 million from SEK 0.5 million. Safello linked the operating turnaround to lower costs and improved margins.

Quarterly gross profit declined from SEK 13.4 million to SEK 8.7 million, a 35% drop. The gross margin, however, increased to 8.8% from 8.1%. Earnings per share were SEK 0.04, compared with a loss of SEK 0.06 a year earlier.

Customer and trading measures were lower than in the third quarter of 2025. Safello had 12,900 active customers, down from 20,400, while new active customers declined to 2,400 from 4,400. Executed orders fell to 25,900 from 41,400. The average buy-order value decreased 14% to SEK 2,200, and the average sell-order value dropped 8% to SEK 8,800.

The quarterly profit came as Safello continued to report losses for the first nine months of the year. Turnover for the period fell 33% to SEK 326.4 million from SEK 490.5 million. For the first nine months, the EBITDA loss grew from SEK 4.2 million to SEK 11.5 million, while the net loss grew from SEK 8.9 million to SEK 9.9 million. For the first nine months, gross profit was SEK 19.3 million, down 45%, and the margin narrowed to 5.9% from 7.1%. Cash at quarter-end was SEK 12.3 million, down from SEK 17.3 million on Dec. 31, 2025.

Safello launched a crypto checkout pilot in Sweden on Sept. 24. The service connects through the company’s API, allowing businesses to include crypto purchases and transfers in existing customer flows. Users complete Safello’s standard know-your-customer process before buying and transferring crypto in one flow. The pilot is intended to gather data on volume, conversion and customer behavior before Safello decides whether to develop or expand the service.