CURR · Currenc Group, Inc.

Currenc Group Inc. announced FY2025 results reflecting a strategic pivot from lower-margin airtime businesses to AI and Web3 initiatives, evidenced by divestitures of TNG Asia and GEA in 2024 and planned Tranglo sale. Revenue excluding divested units fell 10.3% to US$37.8 million, driven by 14.9% drop in global airtime (US$7.9M) and 47.1% in local airtime (US$7.7M) due to Wi-Fi availability reducing demand, offset by 22% growth in Tranglo remittance to US$22.2M on US$5.6B TPV with stable 0.37% take rate. Gross profit rose to US$15.4M with margin expansion to 40.8% from 31.4%, aided by 23.4% lower direct costs at US$22.4M. Operating expenses halved to US$23.4M post-divestitures and reduced employee incentives from US$20.9M to US$4M, though new AI development added US$2M. Net loss narrowed to US$18.5M, primarily from headquarters items including US$4.8M loan extinguishment loss, US$2.3M goodwill impairment, and professional fees. Tranglo and WalletKu generated positive combined EBITDA of US$2.6M, underscoring core remittance health. Management highlighted gross margin gains and expense discipline as structural improvements, with 2026 focus on AI scaling, Tranglo divestment for US$400M proceeds, and Animoca merger to form Nasdaq's first diversified digital assets conglomerate. Debt-to-equity conversion of CEO Alex Kong's US$54.6M loans into 35.7M shares at US$1.53/share in March 2026 eliminated related-party debt and aligned interests.