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Amber International Holding Limited Reports First Quarter 2026 Unaudited Financial ResultsMay 28, 2026 7:07 AM
PR Newswire (US) Demonstrated the resilience of our high-quality client franchise despite a softer macro environment.Amber revealed the underlying operating system, introducing A-MM: an agent-native liquidity operations system.Oct C4AI day: A key milestone to sharing the Amber Agents architecture and a fuller picture of the operating core.SINGAPORE, May 28, 2026 /PRNewswire/ -- Amber International Holding Limited (Nasdaq: AMBR) ("Amber International", "we," "us," or the "Company"), a global leading digital wealth management platform, today announced First Quarter 2026 Unaudited Financial Results. Management CommentaryMichael Wu, Chairman and Chief Executive Officer of Amber International, commented: "The first quarter of 2026 reflected a softer digital asset market environment, with industry trading volumes and asset prices declining further from already subdued levels. Our results moved with the cycle. What remained unchanged is the depth and durability of our core institutional and high-net-worth client relationships. In connection with our regulatory licensing process, we made a deliberate decision to streamline certain long-tail accounts, concentrating resources on higher-value, regulated relationships. During the quarter, we launched A-MM, the first flagship component of our A-Suite agent-native operating systems, marking an important step in extending our capabilities from the distribution layer into the operating infrastructure layer. We also introduced our Crypto for AI (C4AI) vision, positioning crypto as the financial infrastructure for the emerging agent economy. Our inaugural C4AI Investor Day is planned for October this year."Vicky Wang, President of Amber Premium, said: "Q1 once again demonstrated the resilience of our high-quality client franchise despite a softer macro environment. While Execution and Payment Solutions activity moderated in line with the market cycle, our primary recurring revenue engine — Wealth Management Solutions — continued to perform steadily. Our core institutional and high-net-worth relationships remained intact, with Assets on Platform per active client holding stable at approximately US$1.2 million. In connection with our preparation for upcoming regulatory licensing, we proactively streamlined a portion of lower-value retail accounts. This was a deliberate portfolio optimization rather than client attrition, and the overall client assets on platform were still inline with the market trend without material impact. Our focus remains on serving these institutional clients and partners more efficiently, while extending that capability to a broader institutional base."First Quarter 2026 HighlightsTotal Revenue: US$10.0 million in Q1 2026. It was US$14.5 million in Q1 2025 and US$16.3 million in Q4 2025.Wealth Management Solutions Revenue: US$4.3 million in Q1 2026, representing 74.8% of Amber Premium segment revenue. It was US$5.9 million last quarter, 56.2% of Amber Premium segment revenue, and US$9.9 million in Q1 2025, contributing 74.1% of Amber Premium segment revenue.Gross Profit: US$6.8 million in Q1 2026 at a gross margin of 67.7%. It amounted to US$12.1 million last quarter with a gross margin of 74.2%, and US$10.9 million with a gross margin of 75.5% in Q1 2025.Non-GAAP Adjusted EBITDA from continuing operations: US$3.2 million loss in Q1 2026, versus US$50 thousand and US$1.6 million in Q4 2025 and Q1 2025, respectively.Client Assets on Platform[1]: Stood at approximately US$1.0 billion as of March 31, 2026. Client Assets per Active Client[2] reached approximately US$1.2 million as of March 31, 2026, reflecting the Company's differentiated client profile.Cumulative KYC'ed Users[3]: the Company had 4,401 cumulative KYC'ed users as of March 31, 2026, representing a modest 5.5% decline compared to March 31, 2025. During the first quarter of 2026, we streamlined certain client accounts in connection with our Virtual Asset Service Provider (VASP) license application in Hong Kong and other regions. This can also enhance alignment with the updated regulatory requirements and strengthen our competitiveness, global suitability and compliance standards, positioning Amber Premium for sustainable growth. [1] Client Assets on Platform is defined as the total U.S. dollar equivalent value of client assets as of a specific date.[2] An Active Client is defined as a client who has conducted at least one transaction during any consecutive three months ended as of a specific date, or whose assets under management with the Company greater than US$10 thousand as of a specific date.[3] Cumulative KYC'ed Users is defined as the total number of clients that completed the Company's Know Your Customer identity verification as of a specific date. The Company does not offer or provide any services to registered users who have not successfully completed the Know Your Customer identity verification process.Business Developments and Strategic UpdatesThe first quarter of 2026 reflected continued execution of the long-term strategy Amber has pursued since its founding. Amber was established on the conviction that crypto and artificial intelligence would converge to redefine the future of finance. This quarter's developments represent the natural progression of that thesis.Building on Amber Premium's established position as a proven distribution layer — characterized by deep institutional and high-net-worth client relationships, a strong regulatory foundation, and consistent profitability — the Company is extending into the operating infrastructure layer beneath it. This evolution aims to create a more scalable, efficient, and intelligent platform capable of supporting the emerging agent economy. Rather than a departure from its origins, this represents a deliberate next step in Amber's development: moving from competing at the interface level to building the foundational operating systems that power agent-driven financial services.Two developments anchored the quarter:A-MM launch. At the end of March 2026, the Company launched A-MM (Agentic Market Making), the first flagship component of its A-Suite agent-native operating systems. A-MM is an agent-native liquidity operations system and designated market-making infrastructure platform designed for token projects. It unifies execution workflows, infrastructure, and transparency into a single, agent-orchestrated layer, supported by real-time performance and risk reporting. A-MM is designed to work alongside traditional market makers rather than replace them, with the goal of improving efficiency, transparency, and scalability. The soft launch generated strong early interest from token projects, and the Company expects A-MM to begin contributing meaningful revenue from the second quarter of 2026 onward. A-MM marks the first concrete step in transitioning from a distribution-focused platform to a full-stack, agent-native organization.Crypto-for-AI (C4AI) vision. The Company formally introduced its Crypto for AI (C4AI) vision, which positions crypto as the financial and economic infrastructure for the emerging agent economy. As part of this vision, Amber plans to host its inaugural C4AI Investor Day in October 2026, where it intends to provide a broader update on the A-Suite roadmap and the development of its agent capabilities.Throughout the quarter, Amber Premium's core institutional and high-net-worth client relationships remained resilient despite a softer market environment. Client Assets on Platform stood at approximately US$1.0 billion, with Assets on Platform per active client holding steady at approximately US$1.2 million. In connection with its preparation for upcoming regulatory licensing, the Company made a deliberate decision to streamline certain long-tail retail accounts. This was a proactive portfolio optimization aimed at concentrating resources on higher-value, regulated relationships. The optimization had minimal impact on overall Client Assets on Platform and the core client profile, reinforcing the quality and durability of Amber's institutional franchise.Share Repurchase ProgramOn November 26, 2025, the Company announced a share repurchase program authorizing the purchase of up to US$50.0 million of its ADSs over a 12-month period commencing December 1, 2025. As of March 31, 2026, the Company had repurchased a total of 1,973,943 ADSs under this program for an aggregate consideration of approximately US$4.5 million. As of March 31, 2026, approximately US$45.5 million remained available for future repurchases under the program, providing significant capacity for opportunistic repurchases alongside continued growth investment.First Quarter 2026 Financial Results Summary The following table sets forth the key financial metrics of the Company for the periods indicated.
Three Months Ended
March 31,
March 31,
Percentage
December 31,
Percentage(US$ in thousands, except per share data; unaudited)
2026
2025*
change
2025
changeFinancial Metrics:
Revenue
Wealth Management Solutions
4,257
9,918
-57.1 %
5,935
-28.3 %Execution Solutions
859
2,674
-67.9 %
3,391
-74.7 %Payment Solutions
575
797
-27.9 %
1,231
-53.3 %Sub-total of Amber Premium Business[4]
5,691
13,389
-57.5 %
10,557
-46.1 %Marketing and Enterprise Solutions
4,337
1,118
287.9 %
5,780
-25.0 %Total revenue
10,028
14,507
-30.9 %
16,337
-38.6 %Gross profit
6,788
10,948
-38.0 %
12,128
-44.0 %Operating (loss)/income
(3,192)
848
N/M
1,159
N/MNet (loss)/income from continuing operations
(3,728)
937
N/M
827
N/MDiluted net (loss)/income from continuing operations per American Depositary Shares ("ADS")
(0.04)
0.01
N/M
0.01
N/MAdjusted EBITDA from continuing operations[5]
(3,190)
1,587
N/M
50
N/MAdjusted net (loss)/income from continuing operations[5]
(3,502)
1,483
N/M
937
N/MDiluted adjusted net (loss)/income per ADS from continuing operations[5]
(0.04)
0.02
N/M
0.01
N/M
[4] Amber Premium business comprises our Wealth Management Solutions, Execution Solutions, and Payment Solutions.[5] For more details on these non-GAAP financial measures, please see the tables captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release.* On March 12, 2025, iClick Interactive Asia Group Limited completed its merger (the "Merger") with Amber DWM Holding Limited. The Merger is accounted for as a reverse acquisition for accounting purposes. Accordingly, the Merger is treated as the equivalent of Amber DWM issuing shares for the acquisition of iClick, accompanied by a recapitalization, for accounting purposes. The financial results of iClick have been included in our consolidated financial results since March 12, 2025.Revenue for the first quarter of 2026 amounted to US$10.0 million, compared to US$16.3 million last quarter, mainly influenced by a materially softer digital asset market environment, which resulted in a moderation in transaction volumes across the industry.Revenue from Wealth Management Solutions was US$4.3 million in the first quarter of 2026, versus US$5.9 million last quarter, due to the external market environment, and our deliberate client base optimization to focus exclusively on high value relationships.Revenue from Execution Solutions was US$0.9 million in the first quarter of 2026, versus US$3.4 million last quarter, respectively, reflecting a pronounced industry-wide contraction in trading volumes and a lower realized fee rate during the quarter.Revenue from Payment Solutions was US$0.6 million in the first quarter of 2026, versus US$1.2 million last quarter, resulting from softer market conditions, partially offset by the ongoing structural growth in stablecoin-based payment flows for risk-off positioning and treasury management.Marketing and Enterprise Solutions revenue was US$4.3 million in the first quarter of 2026, compared to US$5.8 million last quarter, influenced by the seasonality of online spending cycles of consumers and marketers.Gross profit for the first quarter of 2026 was US$6.8 million, versus US$12.1 million last quarter. Gross profit margin was 67.7% in the first quarter of 2026, versus 74.2% last quarter. The change for this quarter reflected mix dynamics, with our dual products representing a higher share of revenue. We remain focused on advancing long-term growth across all product lines.Total operating expenses were US$10.0 million in the first quarter of 2026, compared to US$11.0 million last quarter. We streamlined our operational resources strategically, with one of the ways was by integrating MIA, our in-house developed AI agent, into operating segments. During the period, the operating cost from marketing and enterprise solution segment reduced by more than 10.0%, following the integration of AI capabilities into our existing digital marketing business, and transitioning the business toward an AI-driven operating model.Operating loss was US$3.2 million in the first quarter of 2026, compared to US$1.2 million operating income last quarter, due to the quarter-over-quarter change in gross profit.Other losses, net were US$0.6 million in the first quarter of 2026, versus US$1.6 million last quarter. The improvement in the first quarter of 2026 was mainly attributable to the decline of fair value loss of crypto assets loan receivables and digital assets, and the net exchange gains this quarter.Net loss from continuing operations was US$3.7 million in the first quarter of 2026, compared to net income of US$0.8 million last quarter.Adjusted EBITDA from continuing operations was a loss of US$3.2 million, versus US$50 thousand last quarter. Adjusted net loss from continuing operations was US$3.5 million, versus adjusted net income of US$0.9 million last quarter.Balance Sheet HighlightsAs of March 31, 2026, the Company had cash and cash equivalents, time deposits and restricted cash of US$36.5 million, compared to US$33.9 million as of December 31, 2025.Operating DataIn addition to the measures presented in our consolidated financial statements, we use the operating metrics listed below to evaluate our business, measure our performance, identify trends and make strategic decisions:
As of
Percentage
Percentage(US$ in thousands, unless specified)
March 31, 2026
March 31, 2025
change
December 31, 2025
changeOperating Metrics[6]:
Cumulative KYC'ed users (in number)
4,401
4,657
(5.5 %)
5,229
(15.8 %)Active clients (in number)
840
928
(9.5 %)
988
(15.0 %)Client assets on platform
971,412
1,275,364
(23.8 %)
1,318,413
(26.3 %)
For the three months ended
Percentage
Percentage
March 31, 2026
March 31, 2025
change
December 31, 2025
changeNew onboarded KYC'ed users[7] (in number)
109
223
(51.1 %)
161
(32.3 %)Execution trading volume[8]
1,236,231
2,454,371
(49.6 %)
2,341,376
(47.2 %)Payment trading volume[9]
218,714
281,279
(22.2 %)
533,753
(59.0 %) [6] The operating metrics presented in this press release include operating data from Sparrow business and the Assigned Contracts (as defined below). While the relevant entities were not consolidated subsidiaries of the Company throughout the relevant periods, their operating data have been included on a pro forma basis for illustrative purposes assuming the completion of DWM Asset Restructuring contemplated in the Merger. As of the date of this earnings release, we have obtained certain local regulatory approvals in Singapore and Dubai. For instance, we became a controller in Sparrow Tech Private Limited in April 2025 and Amber Premium FZE received the VASP license from VARA in April 2026. The DWM Asset Restructuring has not been completed. In connection with the Merger, we entered into intercompany services agreements with certain wholly owned subsidiaries of our parent, Amber Group. These agreements would afford us with substantially the same economic benefits as the transactions contemplated under the merger agreement signed in connection with the Merger, pending certain regulatory approvals for DWM Asset Restructuring contemplated under the merger agreement. This includes our entitlement to 100% of the consolidated net income generated from certain contracts associated with WhaleFin Technologies Limited ("WFTL") (the "WFTL Assigned Contracts") effective from January 1, 2025 to October 27, 2025, and our entitlement to 100% of the consolidated net income generated from certain contracts associated with AG Global Technology Limited Inc. ("AGTL") (the "AGTL Assigned Contracts") effective from October 28, 2025 (collectively, the "Assigned Contracts")[7] New onboarded KYC'ed user is defined as the number of clients that completed the Company's Know Your Customer onboarding procedures during the period.[8] Execution trading volume is defined as the total U.S. dollar equivalent value of two-side spot matched trades transacted of crypto assets between a buyer and seller through the Company, and excluding the deposit or withdrawal of crypto assets during the period.[9] Payment trading volume is defined as the total U.S. dollar equivalent value of one-side on/off-ramp through the Company during the period.OutlookBased on the information available as of the date of this press release, the Company provides the following revenue outlook of Amber Premium business:Second Quarter 2026:Revenue of Amber Premium business is estimated to be between US$9.0 million and US$10.0 million.Please also refer to the factors set out under the section titled "Safe Harbor Statement."Conference CallThe Company will host an earnings conference call at 8:00 AM U.S. Eastern Time on May 28, 2026 (8:00 PM Singapore time on May 28, 2026). Participants are asked to use one of the following teleconferencing numbers to participate in the call and reference the Access ID number 13760784. The Company requests that participants dial in 10 minutes before the conference call begins.
Participant Dial-in Numbers:
Toll Free: 1-844-539-3703
Toll/International: 1-412-652-1273The conference call will also be available via a live webcast https://viavid.webcasts.com/starthere.jsp?ei=1764524&tp_key=aabee98e15Replay Dial-in Numbers:
Toll Free: 1-844-512-2921
Toll/International: 1-412-317-6671
Replay Pin Number: 13760784A replay of the call will be available on Thursday, May 28, 2026, after 12:00 PM ET through Thursday, June 11, 2026 at 11:59 PM ET.The Company's earnings release and investor presentation will be available shortly after issuance in the Investor Relations section of Amber International's website at https://ir.ambr.io.About Amber International Holding LimitedAmber International Holding Limited (Nasdaq: AMBR), operating under the brand name "Amber Premium," is a global leading digital wealth management platform. As a private banking grade expert in digital wealth management and a subsidiary of Amber Group, Amber Premium is a trusted partner to high-net-worth individuals and leading institutions, delivering institutional-grade market access, execution infrastructure, and investment solutions. The firm is set to redefine the digital wealth management landscape, serving as a proven Nasdaq-listed gateway to digital assets. Learn more at www.ambr.io.Non-GAAP Financial MeasuresThe Company uses adjusted EBITDA from continuing operations, adjusted net (loss)/income from continuing operations, and diluted adjusted net (loss)/income from continuing operations per ADS, each a non-GAAP financial measure, in evaluating the Company's operating results and for financial and operational decision-making purposes. The Company believes that adjusted EBITDA from continuing operations, adjusted net (loss)/income from continuing operations, and diluted adjusted net (loss)/income from continuing operations per ADS help identify underlying trends in the Company's business that could otherwise be distorted by the effect of the expenses and gains that the Company includes in net (loss)/income. The Company believes that adjusted EBITDA from continuing operations and adjusted net (loss)/income from continuing operations provide useful information about the Company's operating results, enhance the overall understanding of the Company's past performance and future prospects, assess operating performance on a consistent basis, and allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making.Adjusted EBITDA from continuing operations, adjusted net (loss)/income from continuing operations, and diluted adjusted net (loss)/income from continuing operations per ADS should not be considered in isolation or construed as an alternative to net (loss)/income or any other measure of performance or as an indicator of the Company's operating performance. Investors are encouraged to review the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted EBITDA from continuing operations, adjusted net (loss)/income from continuing operations, and diluted adjusted net (loss)/income from continuing operations per ADS presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company's data. The Company encourages investors and others to review the Company's financial information in its entirety and not rely on a single financial measure.For more information on these non-GAAP financial measures, please see the table captioned "Unaudited Reconciliations of GAAP and Non-GAAP results" set forth at the end of this press release.These non-GAAP financial measures were presented with the most directly comparable GAAP financial measures together for facilitating a more comprehensive understanding of operating performance between periods.Important Notice Regarding Preliminary Financial InformationThe financial information presented herein is preliminary and unaudited, and is subject to change in connection with the completion of the Company's financial closing and audit procedures.Safe Harbor StatementThis announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from the expectations as a result of a variety of factors. Such forward-looking statements are based upon management's current expectations and include known and unknown risks, uncertainties and other factors, many of which are hard to predict or control, that may cause the actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. Further information regarding these and other risks is included in the Company's annual reports on Form 20-F and other filings with the SEC. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.Media & Investor ContactsIn Asia:Amber International Holding LimitedMedia Relations TeamPhone: +65 6022 0228E-mail: pr@ambr.io | ir@ambr.io In the United States:International Elite Capital Inc.Annabelle ZhangPhone: +1 (646) 866-7928E-mail: amber@iecapitalusa.com (financial tables follow)AMBER INTERNATIONAL HOLDING LIMITED
Unaudited Condensed Consolidated Statements of Comprehensive (Loss)/Income
(US$'000, except share data and per share data, or otherwise noted)
Three Months Ended
March 31, 2026
March 31, 2025
December 31, 2025Continuing operations
Revenue
10,028
14,507
16,337Cost of revenue
(3,240)
(3,559)
(4,209)Gross profit
6,788
10,948
12,128
Operating expenses
Research and development expenses
(1,541)
(3,383)
(1,201)Sales and marketing expenses
(2,289)
(743)
(2,074)General and administrative expenses
(6,150)
(5,974)
(7,694)Total operating expenses
(9,980)
(10,100)
(10,969)Operating (loss)/income
(3,192)
848
1,159Finance income, net
96
38
238Other (losses)/gains, net
(615)
56
(1,616)(Loss)/income from continuing operations before share of losses from an equity investee and income tax (expense)/credit
(3,711)
942
(219)Share of losses from an equity investee
(11)
—
(12)(Loss)/income from continuing operations before income tax (expense)/credit
(3,722)
942
(231)Income tax (expense)/credit
(6)
(5)
1,058Net (loss)/income from continuing operations
(3,728)
937
827Net income attributable to non-controlling interests
—
—
—Net (loss)/income from continuing operations attributable to the Company's ordinary shareholders
(3,728)
937
827
Discontinued operations
Net loss from discontinued operations
(4)
(21)
(258)Net loss attributable to non-controlling interests
—
15
1Net loss from discontinued operations attributable to the Company's ordinary shareholders
(4)
(6)
(257)
Net (loss)/income
(3,732)
916
569Net (loss)/income attributable to the Company's ordinary shareholders
(3,732)
931
570
Net (loss)/income from continuing operations
(3,728)
937
827Other comprehensive loss:
Foreign currency translation adjustment, net of US$nil tax
(417)
—
(1,308)Comprehensive (loss)/income from continuing operations attributable to the Company's ordinary shareholders
(4,145)
937
(481)
Three Months Ended
March 31, 2026
March 31, 2025
December 31, 2025Net loss from discontinued operations
(4)
(21)
(258)Other comprehensive income/(loss):
Foreign currency translation adjustment, net of US$nil tax
—
—
—Comprehensive loss from discontinued operations
(4)
(21)
(258)Comprehensive loss from discontinued operations attributable to noncontrolling interests
—
—
—Comprehensive loss from discontinued operations attributable to the Company's ordinary shareholders
(4)
(21)
(258)
Comprehensive (loss)/income attributable to the Company's ordinary shareholders
(4,149)
916
(739)
Net (loss)/income from continuing operations per ADS attributable to the Company's ordinary shareholders
— Basic
(0.04)
0.01
0.01— Diluted
(0.04)
0.01
0.01
Weighted average number of ADS used in per share calculation:
— Basic
93,837,525
68,315,567
93,762,225— Diluted
93,837,525
68,325,051
93,775,581
Net loss from discontinued operations per ADS attributable to the Company's ordinary shareholders
— Basic
(0.00)
(0.00)
(0.00)— Diluted
(0.00)
(0.00)
(0.00)
Weighted average number of ADS used in per share calculation:
— Basic
93,837,525
68,315,567
93,762,225— Diluted
93,837,525
68,315,567
93,762,225
Net (loss)/income per ADS attributable to the Company's ordinary shareholders
— Basic
(0.04)
0.01
0.01— Diluted
(0.04)
0.01
0.01
Weighted average number of ADS used in per share calculation:
— Basic
93,837,525
68,315,567
93,762,225— Diluted
93,837,525
68,325,051
93,775,581
AMBER INTERNATIONAL HOLDING LIMITED
Unaudited Condensed Consolidated Statements of Financial Position
(US$'000)
As of March 31, 2026
As of December 31, 2025Assets
Current assets
Cash and cash equivalents, time deposits and restricted cash
36,482
33,902Trade and other receivables
12,994
16,625Crypto assets loan receivables
30,205
42,141Digital assets
27,517
45,958Financial assets at fair value through profits or loss
17,946
22,084Derivative financial assets
25
316Amounts due from related parties
48,634
32,341Collateral receivables
2,298
3,407Income tax recoverable
134
141Assets held for sale
13
17Total current assets
176,248
196,932
Non-current assets
Goodwill
53,136
53,136Intangible assets
2,806
2,949Other assets
3,421
3,362Total non-current assets
59,363
59,447
Total assets
235,611
256,379
Liabilities and equity
Current liabilities
Trade and other payables
11,092
13,427Collateral payables
14,334
10,941Contract liabilities
8,555
8,575Liabilities due to customers
51,177
61,351Amount due to related parties
44,649
48,031Derivative financial liabilities
25
316Lease liabilities
857
867Income tax payable
512
513Liabilities held for sale
1,283
1,277Total current liabilities
132,484
145,298
Non-current liabilities
Lease liabilities
484
722Other liabilities
47
47Total non-current liabilities
531
769
Total liabilities
133,015
146,067
Equity
Share capital
86,481
90,061Accumulated losses
(36,871)
(33,139)Reserve
52,986
53,390Total equity
102,596
110,312
Total equity and liabilities
235,611
256,379 AMBER INTERNATIONAL HOLDING LIMITED
Unaudited Reconciliations of GAAP and Non-GAAP Results
(US$'000, except share data and per share data, or otherwise noted)Adjusted EBITDA from continuing operations represents net (loss)/income from continuing operations before (i) depreciation and amortization, (ii) finance income, net, (iii) income tax expense/(credit), (iv) share-based compensation, (v) other gains, net, (vi) unrealized loss in fair value of digital assets, and (vii) cost related to merger.The table below sets forth a reconciliation of the Company's adjusted EBITDA from continuing operations from net (loss)/income from continuing operations for the periods indicated:
Three Months Ended
March 31, 2026
March 31, 2025
December 31, 2025Net (loss)/income from continuing operations
(3,728)
937
827Add/(less):
Depreciation and amortization
402
137
409Finance income, net
(96)
(38)
(238)Income tax expense/(credit)
6
5
(1,058)EBITDA from continuing operations
(3,416)
1,041
(60)Add/(less):
Share-based compensation
13
627
(220)Other gains, net
(515)
(113)
(972)Unrealized loss in fair value of digital assets
728
—
1,302Cost related to merger10
—
32
—Adjusted EBITDA from continuing operations
(3,190)
1,587
50
Adjusted net (loss)/income from continuing operations represents net (loss)/income from continuing operations before (i) share-based compensation, (ii) other gains, net, (iii) unrealized loss in fair value of digital assets, and (iv) cost related to merger. There are no material tax effects on these non-GAAP adjustments.The table below sets forth a reconciliation of the Company's adjusted net (loss)/income from continuing operations from net (loss)/income from continuing operations for the periods indicated:
Three Months Ended
March 31, 2026
March 31, 2025
December 31, 2025Net (loss)/income from continuing operations
(3,728)
937
827Add/(less):
Share-based compensation
13
627
(220)Other gains, net
(515)
(113)
(972)Unrealized loss in fair value of digital assets
728
—
1,302Cost related to merger[10]
—
32
—Adjusted net (loss)/income from continuing operations
(3,502)
1,483
937
The diluted adjusted net (loss)/income from continuing operations per ADS for the periods indicated are calculated as follows:
Three Months Ended
March 31, 2026
March 31, 2025
December 31, 2025Net (loss)/income from continuing operations
(3,728)
937
827Add: Non-GAAP adjustments
226
546
110Adjusted net (loss)/income from continuing operations
(3,502)
1,483
937
Denominator for diluted net (loss)/income from continuing operations per ADS – Weighted average ADS outstanding
93,837,525
68,325,051
93,775,581
Denominator for diluted adjusted net (loss)/income from continuing operations per ADS – Weighted average ADS outstanding
93,837,525
68,325,051
93,775,581
Diluted net (loss)/income from continuing operations per ADS
(0.04)
0.01
0.01Add: Non-GAAP adjustments
0.00
0.01
0.00Diluted adjusted net (loss)/income from continuing operations per ADS
(0.04)
0.02
0.01
[10] Cost related to the merger relates to legal and professional fees. View original content to download multimedia:https://www.prnewswire.com/news-releases/amber-international-holding-limited-reports-first-quarter-2026-unaudited-financial-results-302784384.htmlSOURCE Amber International Holding Limited Original: Amber International Holding Limited Reports First Quarter 2026 Unaudited Financial Results
US Market News
2月前
Amber International Holding Limited Reports Fourth Quarter and Full Year 2025 Unaudited Financial ResultsApril 28, 2026 7:10 AM
PR Newswire (US)
- Revenue surged 784.1% YoY to US$66.1 million in the first full year as a Nasdaq-listed company -- Secured VARA VASP license, expanding access to the UAE's fast-growing family office and institutional market -- Unveiled "A-Suite" architecture; first AI-native operating system scheduled for launch in Q1 2026 -SINGAPORE, April 28, 2026 /PRNewswire/ -- Amber International Holding Limited (Nasdaq: AMBR) ("Amber International", "we," "us," or the "Company"), a global leading digital wealth management platform, today announced Fourth Quarter and Full Year 2025 Unaudited Financial Results.
Management CommentaryMichael Wu, Chairman of the Board and CEO of Amber International, commented, "Fiscal 2025 was a defining year for Amber International. In our first full year as a Nasdaq-listed company, we grew total revenue to US$66.1 million, and achieved our first profitable year on a GAAP continuing-operations basis, representing a US$27.9 million turnaround from our 2024 results. Our Amber Premium operations generated US$50.2 million in revenue with 572.1% growth, and Adjusted EBITDA turned positive at US$4.7 million — a US$9.9 million swing year-over-year.""These results provide the financial bedrock to build what we believe will define the next generation of digital wealth management. Today, we are introducing A-Suite: a cohesive architecture of three AI-native operating systems designed to coordinate on-chain liquidity, yield generation, and asset distribution at scale. We are building the financial infrastructure for the AI agent economy, where digital assets serve as the economic rails and financial services evolve into agent-native operating systems."Vicky Wang, President of Amber International, added, "Our 2025 fiscal year results demonstrate the unmatched quality of our revenue and our clear differentiation from the broader digital asset market. Wealth Management Solutions delivered US$34.9 million for the full year — a 463.6% increase — and constitutes nearly seventy percent of Amber Premium segment revenue. Our platform gross margin reached 74.8%, up from 33.4% a year ago, showing our profitability profile that now aligns with institutional-grade wealth management platforms. Furthermore, closing 2025 with an average of US$1.3 million in Assets on Platform per active client underscores our success in building a premier, institutional-grade platform.""Building upon this optimized foundation, 2026 is the year we continue to scale globally. While we continue to advance our product innovations through new tokenized assets and expand our OTC Market Share by optimizing execution workflows, a meaningful catalyst for our business is our regulatory milestone. Leveraging our VARA VASP license granted on April 2, 2026, we have unlocked expanded access to one of the fastest-growing UAE HNWI markets, positioning Amber as one of the few regulated, pan-Asian digital asset wealth platforms capable of serving this client base at institutional standards."Fourth Quarter and Full Year 2025 HighlightsTotal Revenue: Reached US$16.3 million in Q4 2025, a 240.6% increase from US$4.8 million in Q4 2024. For the full year 2025, total revenue reached US$66.1 million, a 784.1% increase from US$7.5 million in 2024.Wealth Management Solutions Revenue: Reached approximately US$5.9 million in Q4 2025, a 33.4% increase from US$4.4 million in Q4 2024. For the full year 2025, Wealth Management Solutions revenue reached US$34.9 million, a 463.6% increase from US$6.2 million in 2024, representing 69.5% of Amber Premium segment revenue.Gross Profit: Reached US$12.1 million in Q4 2025 at a gross margin of 74.2%, compared to 28.9% in Q4 2024. For the full year 2025, gross profit reached US$49.4 million at a gross margin of 74.8%, compared to 33.4% in 2024.Non-GAAP Adjusted EBITDA from continuing operations: US$50 thousand in Q4 2025, versus a loss of US$1.6 million in Q4 2024. For the full year 2025, Adjusted EBITDA was US$4.7 million, or 7.1% of revenue, improved from a loss of US$5.2 million in 2024.Client Assets on Platform[1]: Stood at US$1.3 billion as of December 31, 2025. Client Assets per Active Client[2] reached US$1.3 million as of December 31, 2025, reflecting the Company's differentiated client profile.Cumulative KYC'ed Users[3]: Reached 5,229 as of December 31, 2025, up 16.7% from December 31, 2024.[1] Client Assets on Platform is defined as the total U.S. dollar equivalent value of client assets as of a specific date.[2] An Active Client is defined as a client who has conducted at least one transaction during any consecutive three months ended as of a specific date, or whose assets under management with the Company greater than US$10 thousand as of a specific date.[3] Cumulative KYC'ed Users is defined as the total number of clients that completed the Company's Know Your Customer identity verification as of a specific date. The Company does not offer or provide any services to registered users who have not successfully completed the Know Your Customer identity verification process.Business Developments and Strategic UpdatesIn fiscal year 2025, Amber International delivered strong operational and financial performance, completed its first full year as a Nasdaq-listed public company, and executed on several strategic initiatives to expand its addressable market.Multi-Jurisdiction Regulatory Platform: On April 2, 2026, the Company's Dubai subsidiary, Amber Premium FZE, received its Virtual Asset Service Provider (VASP) Licence from the Virtual Assets Regulatory Authority (VARA), authorizing regulated VA Broker-Dealer, VA Management and Investment, and VA Lending and Borrowing services. Under the SCA-VARA cooperation framework, this authorization enables the Company to service the broader UAE market under a unified regulatory standard. In Singapore, Sparrow Tech Private Limited, a wholly owned subsidiary of the Company, holds a Major Payment Institution (MPI) licence issued by the Monetary Authority of Singapore. In Hong Kong, the Company, together with Amber Group, continues to advance applications for a VATP licence and SFC Type 1 & 7 licences via WhaleFin Markets Limited and its wholly-owned subsidiary, Amber Custodian Services Limited[4].High-Quality Revenue Mix and Margin Expansion: Throughout 2025, management continued its deliberate focus on higher-quality and higher-margin revenue streams. Wealth Management Solutions revenue reached US$34.9 million — a 463.6% increase — driven by robust demand for structured products and institutional advisory services. Wealth Management now represents 69.5% of Amber Premium segment revenue, giving the Company one of the highest recurring revenue mixes among peers. Platform gross margin expanded from 33.4% to 74.8%, approaching the profitability profile of an institutional-grade wealth management platform.Strengthening Client Metrics: Assets on Platform per active client ended the year at US$1.3 million as of December 31, 2025, a metric that significantly differentiates our institutional-grade digital wealth management platform from the retail-focused peers. The Amber Premium community ended the fiscal year with 988 active clients demonstrating exceptional retention through the Q4 market correction. Cumulative KYC'ed users grew 16.7% year-over-year to a record 5,229, representing a highly lucrative pipeline for future capital activation. This growth potential will be further accelerated by our newly secured regulatory licenses, which unlock massive external client expansion opportunities across key global wealth hubs.AI Integration and MIA Deployment: The Company continued to deepen AI integration across its operations. MIA, the Company's first in-house developed AI agent, has been deployed externally for content generation, social media consistency, and investor engagement, and internally as a proactive workspace assistant accelerating workflows via a proprietary skill hub and secure internal database.[4] While WhaleFin Markets Limited ("WML") and its subsidiary are not currently subsidiaries of the Company, the Company will acquire 100% of the equity interests in WML as part of the DWM Asset Restructuring contemplated in the Merger (as defined below), subject to relevant regulatory approvals. Pending such completion, the Company is entitled to the economic benefits of WML and its subsidiary through existing intercompany arrangements.Share Repurchase ProgramOn November 26, 2025, the Company announced a share repurchase program authorizing the purchase of up to US$50.0 million of its ADSs over a 12-month period commencing December 1, 2025. As of December 31, 2025, the Company had repurchased a total of 516,703 ADSs under this program for an aggregate consideration of approximately US$0.9 million. As of December 31, 2025, approximately US$49.1 million remained available for future repurchases under the program, providing significant capacity for opportunistic repurchases alongside continued growth investment.Fourth Quarter and Full Year 2025 Financial Results Summary On March 12, 2025, iClick Interactive Asia Group Limited ("iClick") completed its merger (the "Merger") with Amber DWM Holding Limited ("Amber DWM")[5] . The Merger is accounted for as a reverse acquisition for accounting purposes. Accordingly, the Merger is treated as the equivalent of Amber DWM issuing shares for the acquisition of iClick, accompanied by a recapitalization, for accounting purposes. The financial results of iClick have been included in our consolidated financial results since March 12, 2025. We completed one of the disposals in October 2025, and as of the end of year 2025, certain operations under iClick were classified as held-for-sale.The following table sets forth the key financial metrics of the Company for the periods indicated.
Three Months Ended December 31,
Year Ended December 31,(US$ in thousands, except per share data; unaudited)
2025
2024
Percentage
change
2025
2024
Percentage
changeFinancial Metrics:
Revenue
Wealth Management Solutions
5,935
4,448
33.4 %
34,909
6,194
463.6 % Execution Solutions
3,391
157
2,059.9 %
11,243
320
3,413.4 % Payment Solutions
1,231
191
544.5 %
4,086
961
325.2 %Sub-total of Amber Premium Business[6]
10,557
4,796
120.1 %
50,238
7,475
572.1 % Marketing and Enterprise Solutions
5,780
—
N/M
15,851
—
N/MTotal revenue
16,337
4,796
240.6 %
66,089
7,475
784.1 %Gross profit
12,128
1,387
774.4 %
49,436
2,495
1,881.4 %Operating income/(loss)
1,159
(1,055)
N/M
2,595
(5,306)
N/MNet income/(loss) from continuing operations
827
(12,099)
N/M
4,665
(23,273)
N/MDiluted net income/(loss) from continuing operations per American Depositary Shares ("ADS")
0.01
(0.20)
N/M
0.05
(0.38)
N/MAdjusted EBITDA from continuing operations[7]
50
(1,559)
N/M
4,694
(5,158)
N/MAdjusted net income/(loss) from continuing operations[7]
937
(1,629)
N/M
4,858
(5,433)
N/MDiluted adjusted net income/(loss) per ADS from continuing operations[7]
0.01
(0.03)
N/M
0.06
(0.09)
N/M
[5] In connection with the Merger, we entered into intercompany services agreements with certain wholly owned subsidiaries of our parent, Amber Group. These agreements would afford us with substantially the same economic benefits as the transactions contemplated under the merger agreement signed in connection with the Merger, pending certain regulatory approvals for DWM Asset Restructuring contemplated under the merger agreement. This includes our entitlement to 100% of the consolidated net income generated from certain contracts associated with WhaleFin Technologies Limited ("WFTL") (the "WFTL Assigned Contracts") effective from January 1, 2025 to October 27, 2025, and our entitlement to 100% of the consolidated net income generated from certain contracts associated with AG Global Technology Limited Inc. ("AGTL") (the "AGTL Assigned Contracts") effective from October 28, 2025. Therefore, our results for the three months and year ended December 31, 2025 have included the net income from WFTL Assigned Contracts and AGTL Assigned Contracts (collectively, the "Assigned Contracts"), which was not reflected in our results for the corresponding periods in 2024.[6] Amber Premium business comprises our Wealth Management Solutions, Execution Solutions, and Payment Solutions.[7] For more details on these non-GAAP financial measures, please see the tables captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release.Fourth Quarter 2025 Results:Revenue for the fourth quarter of 2025 was US$16.3 million, representing a 240.6% increase year-over-year. The solid performance was contributed by the substantial growth in Amber Premium Business reflected by the Assigned Contracts[8], in addition with the Marketing and Enterprise Solutions following the Merger:Revenue from Wealth Management Solutions was US$5.9 million in the fourth quarter of 2025, up from US$4.4 million in the same period a year earlier. The growth was driven by stronger institutional adoption of our offerings, supported by the increasing demand for our expanded and advanced investment products and services.Revenue from Execution Solutions reached US$3.4 million in the fourth quarter of 2025, grew from US$0.2 million in the same period of 2024, together with the increase in client trading activities with us and improved fee rate and spread mix during the quarter.Revenue from Payment Solutions rose to US$1.2 million in the fourth quarter of 2025, from US$0.2 million for the same period of 2024, benefited from the and continued structural growth in stablecoin-based payment flows for risk-off positioning and treasury management.Marketing and Enterprise Solutions revenue was US$5.8 million in the fourth quarter of 2025, generated from online marketing, SaaS products and services from iClick.[8] For purposes of this release, unless otherwise indicated, the financial results discussed under "Amber Premium Business" include the net income attributable to the Company from the Assigned Contracts under the intercompany services agreements as described above.Gross profit for the fourth quarter of 2025 was US$12.1 million, compared to US$1.4 million in the same period of 2024. Gross profit margin reached 74.2% in the fourth quarter of 2025, from 28.9% in the fourth quarter of 2024. These improvements were mainly driven by the continuous growth of higher-margin Amber Premium offerings and marketing and enterprise solutions.Total operating expenses were US$11.0 million in the fourth quarter of 2025, increased from US$2.4 million in the same period of 2024. The change reflected our strategic business expansion, accompanied by higher personnel expenses, technology and development expenses, and legal and professional fees.Operating income was US$1.2 million in the fourth quarter of 2025, compared to US$1.1 million operating loss in the same period of 2024, driven by the growth of higher-margin services, partially offset by increased expenses for expansion.Other losses, net were US$1.6 million in the fourth quarter of 2025, versus US$11.1 million in the fourth quarter of 2024. The losses in the fourth quarter of 2025 were mainly attributable to the fair value change of crypto assets loan receivables and digital assets, partially offset by the write-off of certain other payables, whereas the losses in the fourth quarter of 2024 were primarily represented the unrealized loss in fair value of digital assets from a related party, which was waived prior to the Merger.Net income from continuing operations improved to US$0.8 million in the fourth quarter of 2025 from a net loss of US$12.1 million in the same period of 2024.Adjusted EBITDA from continuing operations was US$50 thousand, versus a loss of US$1.6 million in the same period of 2024. Adjusted net income from continuing operations was US$0.9 million, versus adjusted net loss of US$1.6 million a year earlier.Net loss from discontinued operations was US$0.3 million in the fourth quarter of 2025, attributable to the financial results of certain operations under iClick that were either disposed of during the quarter or classified as held-for-sale as of quarter end.Full Year 2025 Results: Revenue for 2025 surged to US$66.1 million, representing a 784.1% increase year-over-year. The strong momentum was driven by incremental contribution from the growth in the core Amber Premium Business, and the Marketing and Enterprise Solutions following the Merger on March 12, 2025:Revenue from Wealth Management Solutions reached US$34.9 million in 2025, reflecting robust growth from US$6.2 million in 2024 and broader adoption of our offerings, supported by the strong demand on our diversified investment products and services, including new accumulator/decumulator products introduced in the fourth quarter of 2024.Revenue from Execution Solutions surged to US$11.2 million in 2025, compared to US$0.3 million a year earlier, fueled by the increase in client trading activities with us and improved average fee rate and spread mix throughout the year.Revenue from Payment Solutions rose to US$4.1 million in 2025, from US$1.0 million in 2024, mainly resulting from increased volumes.Marketing and Enterprise Solutions revenue was US$15.9 million in 2025.Gross profit in 2025 reached US$49.4 million, up from US$2.5 million in 2024. Gross profit margin surged to 74.8% in 2025, from 33.4% in 2024. The substantial growth was mainly contributed from the accelerated growth in Amber Premium business and higher-margin marketing and enterprise solutions.Total operating expenses were US$46.8 million in 2025, compared to US$7.8 million in 2024, primarily due to higher personnel expenses, technology infrastructure and software services expenses, and legal and professional service fees associated with business expansion and new products and services development.Operating income was US$2.6 million in 2025, a substantial improvement from the operating loss of US$5.3 million in 2024, driven by a significant increase in gross profit and strengthened operating leverage.Other gains, net were US$0.5 million in 2025, compared to other losses, net of US$18.1 million in 2024. Other gains, net in 2025 mainly represents the write-off of certain other payables, dividend income from investment, and investment gains during the year, partially offset by fair value change of crypto asset loan receivables and digital assets. The losses in 2024 mainly represented the unrealized fair value loss of digital assets on loan from a related party, and the loan was subsequently waived.Net income from continuing operations was US$4.7 million in 2025, representing a turnaround from net loss from continuing operations of US$23.3 million in 2024.Adjusted EBITDA and adjusted net income from continuing operations reached US$4.7 million and US$4.9 million, respectively, in 2025, achieving profitability from adjusted EBITDA loss of US$5.2 million and adjusted net loss of US$5.4 million in 2024.Net loss from discontinued operations was US$2.0 million in 2025.Balance Sheet HighlightsAs of December 31, 2025, the Company had cash and cash equivalents, time deposits and restricted cash of US$33.9 million, compared to US$9.3 million as of December 31, 2024.Operating DataIn addition to the measures presented in our consolidated financial statements, we use the operating metrics listed below to evaluate our business, measure our performance, identify trends and make strategic decisions:
As of December 31,(US$ in thousands, unless specified)
2025
2024
Percentage
changeOperating Metrics[9]:
Cumulative KYC'ed users (in number)
5,229
4,479
16.7 %Active clients (in number)
988
985
0.3 %Client assets on platform
1,318,413
1,478,884
(10.9 %)
For the three months ended December 31,
2025
2024
Percentage
changeNew onboarded KYC'ed users[10] (in number)
161
230
(30.0 %)Execution trading volume[11]
2,341,376
2,964,789
(21.0 %)Payment trading volume[12]
533,753
369,358
44.5 % [9] The operating metrics presented in this press release include operating data from Sparrow business and the Assigned Contracts. While the relevant entities were not consolidated subsidiaries of the Company throughout the relevant periods, their operating data have been included on a pro forma basis for illustrative purposes assuming the completion of DWM Asset Restructuring contemplated in the Merger. As of the date of this earnings release, other than the consolidation of Sparrow business following the relevant regulatory approval in April 2025, the DWM Asset Restructuring has not been completed.[10] New onboarded KYC'ed user is defined as the number of clients that completed the Company's Know Your Customer onboarding procedures during the period.[11] Execution trading volume is defined as the total U.S. dollar equivalent value of two-side spot matched trades transacted of crypto assets between a buyer and seller through the Company, and excluding the deposit or withdrawal of crypto assets during the period.[12] Payment trading volume is defined as the total U.S. dollar equivalent value of one-side on/off-ramp through the Company during the period.OutlookBased on the information available as of the date of this press release, the Company provides the following revenue outlook of Amber Premium business:First Quarter 2026:Revenue of Amber Premium business is estimated to be between US$5.1 million and US$5.6 million.While the broader market downtrend we navigated in the fourth quarter of 2025 has continued into the first quarter of 2026, we are utilizing this period for purposeful strategic optimization. We continue to strategically streamline our resources and fulfill stringent regulatory requirements across our active jurisdictions. With greater regulatory visibility—culminating in the milestone receipt of our VARA VASP license in Dubai—we are proactively refining our client base to focus exclusively on high-value, compliant relationships. This intentional contraction prioritizes the depth and profitability of our network over sheer volume, ensuring we continue to enhance our competitiveness as a sustainable, institutional-grade digital wealth management platform through 2026 and beyond.Please also refer to the factors set out under the section titled "Safe Harbor Statement."Conference CallThe Company will host an earnings conference call at 8:00 AM U.S. Eastern Time on April 28, 2026 (8:00 PM Singapore time on April 28, 2026). Participants are asked to use one of the following teleconferencing numbers to participate in the call and reference the Access ID number 13760041. The Company requests that participants dial in 10 minutes before the conference call begins.Participant Dial-in Numbers:
Toll Free: 1-844-539-3703
Toll/International: 1-412-652-1273The conference call will also be available via a live webcast at
https://viavid.webcasts.com/starthere.jsp?ei=1759715&tp_key=74466dd863Replay Dial-in Numbers:
Toll Free: 1-844-512-2921
Toll/International:1-412-317-6671
Replay Pin Number: 13760041A replay of the call will be available on Tuesday, April 28, 2026, after 12:00 PM ET through Tuesday, May 12, 2026 at 11:59 PM ET.The Company's earnings release and investor presentation will be available shortly after issuance in the Investor Relations section of Amber International's website at https://ir.ambr.io. About Amber International Holding LimitedAmber International Holding Limited (Nasdaq: AMBR), operating under the brand name "Amber Premium," is a global leading digital wealth management platform. As a private banking grade expert in digital wealth management and a subsidiary of Amber Group, Amber Premium is a trusted partner to high-net-worth individuals and leading institutions, delivering institutional-grade market access, execution infrastructure, and investment solutions. The firm is set to redefine the digital wealth management landscape, serving as a proven Nasdaq-listed gateway to digital assets. Learn more at www.ambr.io.Non-GAAP Financial MeasuresThe Company uses adjusted EBITDA from continuing operations, adjusted net income/(loss) from continuing operations, and diluted adjusted net income/(loss) from continuing operations per ADS, each a non-GAAP financial measure, in evaluating the Company's operating results and for financial and operational decision-making purposes. The Company believes that adjusted EBITDA from continuing operations, adjusted net income/(loss) from continuing operations, and diluted adjusted net income/(loss) from continuing operations per ADS help identify underlying trends in the Company's business that could otherwise be distorted by the effect of the expenses and gains that the Company includes in net income/(loss). The Company believes that adjusted EBITDA from continuing operations and adjusted net income/(loss) from continuing operations provide useful information about the Company's operating results, enhance the overall understanding of the Company's past performance and future prospects, assess operating performance on a consistent basis, and allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making.Adjusted EBITDA from continuing operations, adjusted net income/(loss) from continuing operations, and diluted adjusted net income/(loss) from continuing operations per ADS should not be considered in isolation or construed as an alternative to net income/(loss) or any other measure of performance or as an indicator of the Company's operating performance. Investors are encouraged to review the historical non-GAAP financial measures to the most directly comparable GAAP measures. Adjusted EBITDA from continuing operations, adjusted net income/(loss) from continuing operations, and diluted adjusted net income/(loss) from continuing operations per ADS presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company's data. The Company encourages investors and others to review the Company's financial information in its entirety and not rely on a single financial measure.For more information on these non-GAAP financial measures, please see the table captioned "Unaudited Reconciliations of GAAP and Non-GAAP results" set forth at the end of this press release.These non-GAAP financial measures were presented with the most directly comparable GAAP financial measures together for facilitating a more comprehensive understanding of operating performance between periods.Important Notice Regarding Preliminary Financial InformationThe financial information presented herein is preliminary and unaudited, and is subject to change in connection with the completion of the Company's financial closing and audit procedures.Safe Harbor StatementThis announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from the expectations as a result of a variety of factors. Such forward-looking statements are based upon management's current expectations and include known and unknown risks, uncertainties and other factors, many of which are hard to predict or control, that may cause the actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. Further information regarding these and other risks is included in the Company's annual reports on Form 20-F and other filings with the SEC. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.Media & Investor ContactsIn Asia:Amber International Holding LimitedMedia Relations TeamPhone: +65 6022 0228E-mail: pr@ambr.io | ir@ambr.io
In the United States:International Elite Capital Inc.Annabelle ZhangTel: +1 (646) 866-7928E-mail: amber@iecapitalusa.com (financial tables follow)AMBER INTERNATIONAL HOLDING LIMITEDUnaudited Condensed Consolidated Statements of Comprehensive (Loss)/Income(US$'000, except share data and per share data, or otherwise noted)
Three Months EndedDecember 31,
Year EndedDecember 31,
2025
2024
2025
2024Continuing operations
Revenue
16,337
4,796
66,089
7,475Cost of revenue
(4,209)
(3,409)
(16,653)
(4,980)Gross profit
12,128
1,387
49,436
2,495
Operating expenses
Research and development expenses
(1,201)
(129)
(10,812)
(452)Sales and marketing expenses
(2,074)
(26)
(7,933)
(80)General and administrative expenses
(7,694)
(2,287)
(28,096)
(7,269)Total operating expenses
(10,969)
(2,442)
(46,841)
(7,801)Operating income/(loss)
1,159
(1,055)
2,595
(5,306)Finance income, net
238
19
548
104Other (losses)/gains, net
(1,616)
(11,063)
505
(18,071)(Loss)/income from continuing operations before share of losses from an equity investee and income tax credit
(219)
(12,099)
3,648
(23,273)Share of losses from an equity investee
(12)
—
(50)
—(Loss)/income from continuing operations before income tax credit
(231)
(12,099)
3,598
(23,273)Income tax credit
1,058
—
1,067
—Net income/(loss) from continuing operations
827
(12,099)
4,665
(23,273)Net income attributable to non-controlling interests
—
—
—
—Net income/(loss) from continuing operations attributable to the Company's ordinary shareholders
827
(12,099)
4,665
(23,273)
Discontinued operations
Net loss from discontinued operations
(258)
—
(2,035)
—Net loss attributable to non-controlling interests
1
—
1,121
—Net loss from discontinued operations attributable to the Company's ordinary shareholders
(257)
—
(914)
—
Net income/(loss)
569
(12,099)
2,630
(23,273)Net income/(loss) attributable to the Company's ordinary shareholders
570
(12,099)
3,751
(23,273)
Net income/(loss) from continuing operations
827
(12,099)
4,665
(23,273)Other comprehensive loss:
Foreign currency translation adjustment, net of US$nil tax
(1,308)
—
(1,309)
—Comprehensive (loss)/income from continuing operations attributable to the Company's ordinary shareholders
(481)
(12,099)
3,356
(23,273)
Three Months EndedDecember 31,
Year EndedDecember 31,
2025
2024
2025
2024
Net loss from discontinued operations
(258)
—
(2,035)
—Other comprehensive income/(loss):
Foreign currency translation adjustment, net of US$nil tax
—
—
—
—Comprehensive loss from discontinued operations
(258)
—
(2,035)
—Comprehensive loss from discontinued operations attributable to noncontrolling interests
—
—
(15)
—Comprehensive loss from discontinued operations attributable to the Company's ordinary shareholders
(258)
—
(2,050)
—
Comprehensive (loss)/income attributable to the Company's ordinary shareholders
(739)
(12,099)
1,306
(23,273)
Net income/(loss) from continuing operations per ADS attributable to the Company's ordinary shareholders
— Basic
0.01
(0.20)
0.05
(0.38)— Diluted
0.01
(0.20)
0.05
(0.38)
Weighted average number of ADS used in per share calculation:
— Basic
93,762,225
61,966,949
86,636,218
61,966,949— Diluted
93,775,581
61,966,949
86,649,319
61,966,949
Net loss from discontinued operations per ADS attributable to the Company's ordinary shareholders
— Basic
(0.00)
—
(0.01)
—— Diluted
(0.00)
—
(0.01)
—
Weighted average number of ADS used in per share calculation:
— Basic
93,762,225
61,966,949
86,636,218
61,966,949— Diluted
93,762,225
61,966,949
86,636,218
61,966,949
Net income/(loss) per ADS attributable to the Company's ordinary shareholders
— Basic
0.01
(0.20)
0.04
(0.38)— Diluted
0.01
(0.20)
0.04
(0.38)
Weighted average number of ADS used in per share calculation:
— Basic
93,762,225
61,966,949
86,636,218
61,966,949— Diluted
93,775,581
61,966,949
86,649,319
61,966,949
AMBER INTERNATIONAL HOLDING LIMITEDUnaudited Condensed Consolidated Statements of Financial Position(US$'000)
As of December 31, 2025
As of December 31, 2024Assets
Current assets
Cash and cash equivalents, time deposits and restricted cash
33,902
9,326Accounts receivable, net of allowance for credit losses of US$1,855 and US$nil as of December 31, 2025 and December 31, 2024 respectively
5,490
12Crypto assets loan receivables
42,141
69,934Digital assets
45,958
4,832Amounts due from related parties
32,371
11,533Collateral receivables
3,407
14,414Other current assets, net of allowance for credit losses of US$nil and US$nil as of December 31, 2025 and December 31, 2024, respectively
33,646
2,184Assets held for sale
17
—Total current assets
196,932
112,235
Non-current assets
Goodwill
53,136
16,735Intangible assets
2,949
160Other assets
3,362
704Total non-current assets
59,447
17,599
Total assets
256,379
129,834
Liabilities and equity
Current liabilities
Accounts payable
3,080
763Collateral payables
10,941
14,414Liabilities due to customers
69,926
71,523Payable to related parties
48,031
9,980Other current liabilities
12,043
2,884Liabilities held for sale
1,277
—Total current liabilities
145,298
99,564
Non-current liabilities
Other liabilities
769
485Total non-current liabilities
769
485
Total liabilities
146,067
100,049
Equity
Share capital
90,061
13,500Accumulated losses
(33,139)
(36,890)Reserve
53,390
53,175Total equity
110,312
29,785
Total equity and liabilities
256,379
129,834AMBER INTERNATIONAL HOLDING LIMITED Unaudited Reconciliations of GAAP and Non-GAAP Results
(US$'000, except share data and per share data, or otherwise noted)Adjusted EBITDA from continuing operations represents net income/(loss) from continuing operations before (i) depreciation and amortization, (ii) finance income, net, (iii) income tax credit, (iv) share-based compensation, (v) other gains, net, (vi) unrealized loss in fair value of digital assets, and (vii) cost related to merger.The table below sets forth a reconciliation of the Company's adjusted EBITDA from continuing operations from net income/(loss) from continuing operations for the periods indicated:
Three Months EndedDecember 31,
Year EndedDecember 31,
2025
2024
2025
2024Net income/(loss) from continuing operations
827
(12,099)
4,665
(23,273)Add/(less):
Depreciation and amortization
409
89
1,451
379Finance income, net
(238)
(19)
(548)
(104)Income tax credit
(1,058)
—
(1,067)
—EBITDA from continuing operations
(60)
(12,029)
4,501
(22,998)Add/(less):
Share-based compensation
(220)
—
591
—Other gains, net
(972)
(81)
(2,144)
(167)Unrealized loss in fair value of digital assets
1,302
10,551
1,302
18,007Cost related to merger[13]
—
—
444
—Adjusted EBITDA from continuing operations
50
(1,559)
4,694
(5,158)
Adjusted net income/(loss) from continuing operations represents net income/(loss) from continuing operations before (i) share-based compensation, (ii) other gains, net, (iii) unrealized loss in fair value of digital assets, and (iv) cost related to merger. There are no material tax effects on these non-GAAP adjustments.The table below sets forth a reconciliation of the Company's adjusted net income/(loss) from continuing operations from net income/(loss) from continuing operations for the periods indicated:
Three Months EndedDecember 31,
Year EndedDecember 31,
2025
2024
2025
2024Net income/(loss) from continuing operations
827
(12,099)
4,665
(23,273)Add/(less):
Share-based compensation
(220)
—
591
—Other gains, net
(972)
(81)
(2,144)
(167)Unrealized loss in fair value of digital assets
1,302
10,551
1,302
18,007Cost related to merger[13]
—
—
444
—Adjusted net income/(loss) from continuing operations
937
(1,629)
4,858
(5,433)
[13] Cost related to the merger relates to legal and professional fees.The diluted adjusted net income/(loss) from continuing operations per ADS for the periods indicated are calculated as follows:
Three Months EndedDecember 31,
Year EndedDecember 31,
2025
2024
2025
2024Net income/(loss) from continuing operations
827
(12,099)
4,665
(23,273)Add: Non-GAAP adjustments
110
10,470
193
17,840Adjusted net income/(loss) from continuing operations
937
(1,629)
4,858
(5,433)
Denominator for diluted net income/(loss) from continuing operations per ADS – Weighted average ADS outstanding
93,775,581
61,966,949
86,649,319
61,966,949
Denominator for diluted adjusted net income/(loss) from continuing operations per ADS – Weighted average ADS outstanding
93,775,581
61,966,949
86,649,319
61,966,949
Diluted net income/(loss) from continuing operations per ADS
0.01
(0.20)
0.05
(0.38)Add: Non-GAAP adjustments
0.00
0.17
0.01
0.29Diluted adjusted net income/(loss) from continuing operations per ADS
0.01
(0.03)
0.06
(0.09)
View original content to download multimedia:https://www.prnewswire.com/news-releases/amber-international-holding-limited-reports-fourth-quarter-and--full-year-2025-unaudited-financial-results-302755621.htmlSOURCE Amber International Holding Limited
Original: Amber International Holding Limited Reports Fourth Quarter and Full Year 2025 Unaudited Financial Results