During the latest financial year, Bite Studios reported a turnover of SEK 21.4 million. Operating profit showed a loss of SEK -22 million. Compared to the previous year, which however extended over 15 months, turnover was then SEK 22.3 million and operating profit was SEK -42.2 million.
The losses have depleted the cash reserves. On several occasions last year, the company was forced to draw up balance sheet checks as more than half of the share capital had been consumed.
However, the owners have met at general meetings and decided to continue operations instead of winding down the business. To enable this, the company has raised SEK 18.8 million through new issues and shareholder contributions during the period.
New Strategy With Focus On E-commerce
The company, which manufactures its products in Italy and Portugal with 99 percent organic materials, implemented a strategic change in 2025. The goal was to shift focus from revenue growth to achieving profitability.
Part of this transition was to build up the company's own e-commerce platform. They also want to continue growing within their existing sales networks.
To lead this work, a new board of directors was appointed, with investor Vi Patel as the new chairman in early 2025.
In connection with the reorganization last year, the company also chose to consolidate its employees by moving the headquarters from Gothenburg to Stockholm. Co-founder Veronika Kant, who runs the company together with CEO William Lundgren, explained that the common workplace facilitates expansion and recruitment, while also bringing them closer to customers and industry colleagues.
Remark From The Auditor
Despite the capital injections and e-commerce investment, economic challenges remain. The company's auditor has recently noted that there is uncertainty about the company's ability to survive if they do not secure more money in the future.
In addition, management received a remark in this year's audit report, as one of last year's balance sheet checks was drawn up too late in relation to when the share capital was consumed.