SINGAPORE, May 01, 2026 (GLOBE NEWSWIRE) -- Currenc Group Inc. (Nasdaq: CURR) ("Currenc" or the "Company"), a fintech pioneer empowering financial institutions worldwide with artificial intelligence ("AI") solutions, announced its financial results for the full year ended December 31, 2025.
Recent Business Highlights
Currenc capped a year of decisive transformation by building a suite of AI products now positioned for commercial rollout, exiting lower-margin businesses, and announcing a proposed merger with Animoca Brands that would create Nasdaq's first diversified digital assets conglomerate.
1. Agreed to convert Chairman and Chief Executive Officer ("CEO") Alex
Kong's US$54.6 million in related party loans to equity in in August
2025, which closed in March 2026, issuing 35,653,995 ordinary shares to
strengthen the Company's net asset position, eliminate the significant
related party debt from the Company's balance sheet, and align his
interests with shareholders.
2. Announced a proposed reverse merger with Animoca Brands Corporation
Limited in November 2025, which upon completion would create the world's
first Nasdaq-listed, diversified digital assets conglomerate spanning
digital asset investments, real-world asset (RWA) tokenization, and
blockchain applications.
3. Announced the planned sale of Tranglo to New Margin Holding Limited ("New
Margin") for US$400 million as part of the Company's strategic
realignment toward its AI-driven and Web3 solutions.
FY2025 Financial Highlights
-- Total Processing Value (TPV) through Tranglo was US$5.6 billion for
FY2025, increasing by 1.2%1 year-over-year. The total number of
transactions increased by 1.0% to 11.5 million in FY2025, compared with
11.4 million for FY2024.
-- Total revenues, excluding TNG Asia and GEA2, were US$37.8 million for
FY2025, representing a year-over-year decrease of 10.3%3, primarily due
to a 14.9% decline in global airtime revenue and a 47.1% decline in local
airtime revenue.
For the year ended December 31,
---------------------------------
2025 2024(2)
US$ US$
--------------- ----------------
(dollars in thousands)
Remittance revenue excluding TNG Asia &
GEA 22,176 18,174
Global Airtime Revenue 7,942 9,336
Local Airtime Revenue 7,678 14,505
Other Revenue 16 122
--------------- ----------------
Total Revenue excluding TNG Asia & GEA 37,813 42,137
(_______________________1) Change in TPV is calculated based on the local currency. TPV would increase by 8.5% year-over-year, if it is calculated by converting the local currency to US dollars. USD translation convention used for displaying TPV levels are based on month end exchange rate.
(2) Currenc divested TNG Asia and GEA in August 2024 and July 2024, respectively. As such, from the fourth quarter of 2024 onward, only Tranglo's (digital remittance and global airtime transfer businesses) and WalletKu's (local airtime business) results will be consolidated and reported in the Company's financial statements.
(3) Total 2024 revenues include intercompany transactions.
-- Total remittance revenues2 contributed by Tranglo were US$22.2 million
for FY2025, an increase of 22% year-over-year. The increase in remittance
revenue was mainly due to an increase in TPV. Tranglo's overall take rate
was 0.37% in 2025, in line with 0.37% in the same period of 2024.
-- Currenc's global airtime transfer revenues were US$7.9 million for
FY2025, representing a year-over-year decrease of 14.9%. The growing
availability of free Wi-Fi in Southeast Asian countries, especially
Malaysia and Indonesia, has led to declining demand for
Malaysia-Indonesia airtime transfers, resulting in a decline in global
airtime business in 2025. As Currenc expects this trend to continue in
Southeast Asian markets, the Company's management plans to deemphasize
airtime transfer and reallocate its resources and capital to expand its
new AI product offerings.
-- Total direct costs of revenue were US$22.4 million for FY2025,
representing a year-over-year decrease of 23.4%.
-- The direct payout rate for Tranglo's remittance business was 0.13% for
FY2025, a slight increase compared with 0.12% for the same period of
2024.
-- Gross profit was US$15.4 million for FY2025, with a gross profit margin
of 40.8%, compared with US$14.6 million and a margin of 31.4% for FY2024,
reflecting increases in both gross profit and gross margin.
-- Total operating expenses decreased to US$23.4 million for FY2025 from
US$42.0 million for the same period of 2024. The substantial decrease was
mainly due to the divestiture of TNG Asia and GEA, which incurred
operating costs of $3.7 million. In addition, there was also a reduction
in expenses related to incentive shares granted to employees of $16.9
million (FY2025: $4 million; FY2024: $20.9 million).
As Currenc divested TNG Asia and GEA in August and July 2024, respectively, its operating costs now reflect the operating costs of Tranglo, WalletKu and the Company's headquarters only. With the rollout of its new AI initiatives, Currenc incurred US$2 million in operating costs related to these new businesses in 2025.
-- Tranglo's operating costs for FY2025 were US$13.7 million, representing
an increase of 6.2% from US$12.9 million in the same period of 2024
-- WalletKu's operating costs were US$0.6 million for FY2025, compared with
US$1.2 million for the same period of 2024, reflecting tighter cost
control over the operation.
-- Professional fees were US$1.9 million for FY2025.
-- Net loss was US$18.5 million for FY2025, primarily driven by the net loss
of US$20.5 million incurred by headquarter expenses and adjustments.
-- EBITDA analysis
For the year ended Headquarters Group
December 31, 2025 Tranglo WalletKu and adjustments Total
-------------------- ------- -------- ---------------- --------
US$ US$ US$ US$
------- -------- ---------------- --------
(dollars in thousands)
-----------------------------------
Net income (loss) 2,470 (446) (20,528) (18,504)
Add:
Income tax
expenses 519 - (370) 149
Interest expense,
net 58 - 3,052 3,110
------- -------- ---------------- --------
EBIT 3,047 (446) (17,846) (15,245)
Depreciation and
amortization - - 2,036
EBITDA 3,047 (446) (17,846) (13,209)
-- The Company's total EBITDA for FY2025 was a loss of US$13.2 million.
-- Tranglo and WalletKu's combined EBITDA for FY2025 was US$2.6 million.
-- Headquarter expenses and adjustments recorded an EBIT loss of US$17.8
million, mainly contributed by
-- US$4 million in "Operating Expenses" related to incentive shares
granted to employees.
-- US$4.8 million loss on loan extinguishment.
-- US$2.3 million of Goodwill impairment loss.
-- US$1.5 million for amortization of intangible assets (Tranglo).
-- US$2 million for the expenses incurred on developing AI projects.
-- US$1.9 million for professional fees.
For the year
ended TNG Headquarters
December 31, Asia and Group
2024 Tranglo WalletKu GEA adjustments Total
------------- -------- -------- ------ ------------ -------
(dollars in thousands)
Net income
(loss) 2,215 (1,137) (3,740) (36,165) (38,827)
Add:
Income tax
expenses 535 413 - (370) 578
Interest
expense,
net 27 1,762 6,726 8,515
------- -------- ------ ------------ -------
EBIT 2,750 (697) (1,978) (29,809) (29,734)
Depreciation
and
amortization - - - - 3,280
EBITDA 2,750 (697) (1,978) (29,809) (26,454)
Management Comments
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