Harmoney BidCo AB (publ) | ISIN: SE0027598178 Stockholm, 23 June 2026, 9:30 CEST Harmoney BidCo AB - Trading Update
Harmoney BidCo AB (publ) (the "Company"), issuer of EUR 130,000,000 Senior Secured Callable Floating Rate Bonds 2026/2029 (ISIN: SE0027598178), today publishes the following information in connection with the Company's bondholder information meeting to be held today on 23 June 2026. The Company reports unaudited pro forma revenue of approximately EUR 14.1 million for the three-month period from 1 March to 31 May 2026. The Company’s cash position was approximately EUR 12.3 million on 31 May 2026, as compared to EUR 3.5 million on 1 March 2026, reflecting the cash flow generation from the business in the period. The March to May EBITDA margins adjusted for one-off carve-out costs is in line with previous year. The Company confirms that its Net Leverage Ratio is tracking with headroom to the applicable maintenance test covenant.
"After becoming a standalone company, we can now run the business with an entrepreneurial mindset to enable the next phase of product development and growth. Our financial performance is in line with our plan, we are executing our carve-out on schedule, and we are investing to position the business for sustainable long-term growth."
Neil D'Souza, Chief Executive Officer of PaymentIQ, commented
The Company's separation from Worldline Group continues to progress well ahead of the contracted transitional service end date of 31 August 2026. Internal capability build-up across all functions is proceeding according to plan, with transitional services being continuously ramped down; the majority of remaining services are expected to be formally cancelled in the near term. Completion of the June 2026 month-end financial close on the Company's own systems will mark an operational milestone in the carve-out programme. Following the completion of transitional service exits, management's attention turns to building an integrated and well-coordinated operating model, investing in AI to enhance cross-functional processes and workflow automation to support the Company's commercial ambitions.
New merchant signings slowed materially during the second half of 2025 while the Company was under Worldline ownership, and the sale process was underway. Since closing on 27 February 2026, the Company has operated with full commercial autonomy and has reinitiated its sales programme with an accelerated focus on new business generation.
The Company has also established a new technical support hub in Bitola, North Macedonia (12 staff) and initiated development of Cashier+, a new checkout product, with a pilot rollout planned for autumn 2026.
The Company intends to provide a further financial update following completion of the June 2026 independent month-end close and will report in accordance with its obligations under the bond terms and conditions. The Company will publish its quarterly report on August 31st.
About CoreOrchestration AB and PaymentIQ
CoreOrchestration AB, operating under the PaymentIQ brand (“PaymentIQ”), is a leading payment orchestration software provider, founded in Sweden in 2013. PaymentIQ connects merchants to more than 260 payment service providers through a single integration, enabling smart routing, tokenisation and customisable checkout experiences. The platform processes more than 600 million transactions annually, representing EUR 19 billion in annual transaction volume, with 99.99 per cent system uptime. PaymentIQ operates outside of regulated payments and does not hold, manage, or move customer funds. PaymentIQ was acquired by Harmoney Bidco AB (publ) on 27 February 2026.
Contact
Neil D'Souza, Chief Executive Officer | CoreOrchestration AB
Email: neil.dsouza@paymentiq.com
Important Notice
This information is information that Harmoney BidCo AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 23 June 2026 9:30 CEST.
This press release contains forward-looking statements, including expectations and targets regarding future financial performance, business development and market conditions. Forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Actual outcomes and results may differ materially from those expressed or implied. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law or regulation.
All financial figures included in this press release are based on internal management reporting and are unaudited, pro forma, and subject to adjustment. They are not prepared in accordance with IFRS and may differ materially from figures that would result from an independent audit conducted in accordance with applicable accounting standards. EBITDA measures are calculated in accordance with management's own definitions and the definitions set out in the bond terms and conditions and should not be relied upon as substitutes for GAAP/IFRS financial statements.
This press release does not constitute an offer to sell or a solicitation to buy any securities. This press release may not be distributed, published, or reproduced, in whole or in part, in or into any jurisdiction where such distribution would be unlawful
