Amber International Holding Limited Reports Fourth Quarter and Full Year 2025 Unaudited Financial Results

Rhea-AI Summary

Amber International (Nasdaq: AMBR) reported FY2025 unaudited results: total revenue of US$66.1M (+784.1% YoY), GAAP continuing-operations profit of US$4.7M Adjusted EBITDA, and gross margin of 74.8%. Client assets reached US$1.3B; cumulative KYC'ed users were 5,229. Amber obtained a VARA VASP license on April 2, 2026, and announced the AI-native A-Suite OS with planned launch in Q1 2026. The company initiated a US$50M ADS repurchase program (US$0.9M repurchased to date).

AI-generated analysis. Not financial advice.

Positive

• Total revenue of US$66.1M in 2025 (+784.1% YoY)
• Platform gross margin expanded to 74.8%
• Adjusted EBITDA from continuing operations of US$4.7M (7.1% of revenue)
• VARA VASP license obtained on April 2, 2026 enabling UAE market access
• Client assets on platform of US$1.3B with US$1.3M per active client

Negative

• Operating expenses rose to US$11.0M in Q4 2025 (up from US$2.4M)
• Other losses, net were US$1.6M in Q4 2025
• Share repurchase program authorized for US$50M could limit cash for growth (US$49.1M remaining)

News Market Reaction – AMBR

-5.02%

5 alerts

-5.02% News Effect

-12.6% Trough in 4 hr 39 min

-$12M Valuation Impact

$228.59M Market Cap

0.8x Rel. Volume

On the day this news was published, AMBR declined 5.02%, reflecting a notable negative market reaction. Argus tracked a trough of -12.6% from its starting point during tracking. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $12M from the company's valuation, bringing the market cap to $228.59M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

2025 total revenue: US$66.1 million Wealth Mgmt revenue: US$34.9 million Gross margin: 74.8% +5 more

8 metrics

2025 total revenue US$66.1 million Full year 2025, up 784.1% from US$7.5 million in 2024

Wealth Mgmt revenue US$34.9 million Full year 2025, 463.6% increase from US$6.2 million in 2024

Gross margin 74.8% Full year 2025, up from 33.4% in 2024

Adjusted EBITDA US$4.7 million Full year 2025, vs. US$5.2 million loss in 2024

Client Assets on Platform US$1.3 billion As of December 31, 2025

Assets per active client US$1.3 million Average per active client as of December 31, 2025

Cumulative KYC’ed users 5,229 As of December 31, 2025, up 16.7% year-over-year

Share repurchase authorization US$50.0 million ADS buyback program announced November 26, 2025

Market Reality Check

Price: $1.5000 Vol: Volume 62,931 is 13% abov...

normal vol

$1.5000 Last Close

Volume Volume 62,931 is 13% above 20-day average of 55,481 ahead of the earnings release. normal

Technical Shares at $2.39 are trading below the $3.17 200-day MA and about 81% below the 52-week high.

Peers on Argus

AMBR was modestly higher pre-release, while close peers showed a mixed tape: DFD...

AMBR was modestly higher pre-release, while close peers showed a mixed tape: DFDV up 2.61%, ALLT up 0.40%, GRRR down 1.00%, RXT down 1.28%, IMXI up 0.13%, indicating stock-specific drivers.

Previous Earnings Reports

3 past events · Latest: Sep 10 (Positive)

Same Type Pattern 3 events

Date	Event	Sentiment	Move	Catalyst
Sep 10	Q2 2025 earnings	Positive	-2.8%	Strong Q2 revenue and EBITDA improvement after iClick merger expansion.
May 28	Q1 2025 earnings	Positive	-17.0%	Record Q1 revenue, strong wealth management growth, and positive EBITDA.
Apr 28	2024 full-year results	Neutral	+2.4%	Legacy iClick 2024 results and Amber DWM merger disclosure.

Pattern Detected

Recent earnings releases have generally been positive fundamentally but followed by weak average price reactions around -5.79%, suggesting a pattern of selling or muted response on results days.

Recent Company History

Over the past year, AMBR has reported multiple earnings updates highlighting rapid growth in its Amber Premium and wealth management businesses. Q1 and Q2 2025 results showed record revenues, rising client assets, and improving Adjusted EBITDA, while the 2024 report detailed legacy iClick metrics and the strategic Amber DWM merger. Despite these positive operating trends, the stock often reacted negatively around earnings, making today’s full-year 2025 release another data point against this backdrop.

Historical Comparison

-5.8% avg move · Across the last 3 earnings releases, AMBR’s average one-day move was -5.79%, showing that the stock ...

earnings

-5.8%

Average Historical Move earnings

Across the last 3 earnings releases, AMBR’s average one-day move was -5.79%, showing that the stock has often traded lower around fundamentally positive financial updates.

Earnings disclosures trace a shift from legacy iClick revenues to Amber Premium-led growth with rising wealth management revenue, client assets, and a turn to positive Adjusted EBITDA.

Market Pulse Summary

The stock moved -5.0% in the session following this news. A negative reaction despite robust metrics...

Analysis

The stock moved -5.0% in the session following this news. A negative reaction despite robust metrics would fit the recent pattern, where earnings headlines averaged about -5.79% one day after release. The market may be questioning the persistence of rapid growth, integration risks from the iClick merger, or the gap between current price and the $3.17 200-day MA. Future updates on client asset trends, margins, and AI-driven product rollout could be critical to rebuilding confidence.

Key Terms

adjusted ebitda, virtual asset service provider, vasp, know your customer, +3 more

7 terms

adjusted ebitda financial

"Adjusted EBITDA turned positive at US$4.7 million — a US$9.9 million swing year-over-year."

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

virtual asset service provider regulatory

"received its Virtual Asset Service Provider (VASP) Licence from the Virtual Assets Regulatory Authority"

A virtual asset service provider is a business that creates, stores, trades, moves or manages digital assets such as cryptocurrencies and tokens — think of it as a bank or broker for digital money. It matters to investors because these firms control access, custody and transaction flow for digital assets, so their security, compliance with rules and business health directly affect liquidity, counterparty risk and the safety of investors’ holdings.

vasp regulatory

"received its Virtual Asset Service Provider (VASP) Licence from the Virtual Assets Regulatory Authority"

A virtual asset service provider (VASP) is any business that facilitates buying, selling, storing or moving digital assets like cryptocurrencies — think of it as a bank or courier for digital money. Investors care because a VASP’s security, rules compliance and access to liquidity affect how safe and easy it is to hold or trade tokens; regulatory scrutiny, hacks or license losses at a VASP can quickly change an asset’s value or trading availability.

know your customer regulatory

"completed the Company's Know Your Customer identity verification as of a specific date."

Know your customer (often called KYC) is the routine process financial firms use to verify who their clients are and assess the risk they pose, by collecting identity documents, background information and transaction history. For investors, KYC matters because it determines whether you can open or maintain accounts, how quickly you can trade, and how a firm manages regulatory and fraud risk—similar to a landlord checking references before renting to someone.

ads financial

"authorizing the purchase of up to US$50.0 million of its ADSs over a 12-month period"

Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.

restricted stock units financial

"6,250 RSUs vested under the Post-IPO Share Incentive Plan and converted one-for-one"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

major payment institution regulatory

"holds a Major Payment Institution (MPI) licence issued by the Monetary Authority of Singapore."

A major payment institution is a regulated firm that handles large volumes or values of money transfers and often holds customer funds, acting as a central hub for moving payments between people, businesses and banks. Investors care because these firms carry operational, liquidity and regulatory risks—if a major payment hub fails or is restricted it can slow or stop commerce much like a clogged highway, potentially affecting customer revenue, cash flow and market confidence.

AI-generated analysis. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

- 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 Commentary

Michael 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 Highlights

• Total 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 Updates

In 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 Program

On 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 change
Financial 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/M
Total 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/M
Net income/(loss) from continuing operations		827		(12,099)		N/M		4,665		(23,273)		N/M
Diluted net income/(loss) from continuing   operations per American Depositary Shares   ("ADS")		0.01		(0.20)		N/M		0.05		(0.38)		N/M
Adjusted EBITDA from continuing operations[7]		50		(1,559)		N/M		4,694		(5,158)		N/M
Adjusted net income/(loss) from continuing   operations[7]		937		(1,629)		N/M		4,858		(5,433)		N/M
Diluted 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 Highlights

As 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 Data

In 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 change
Operating 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 change
New 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.

Outlook

Based 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 Call

The 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: 1-412-652-1273

The conference call will also be available via a live webcast at
https://viavid.webcasts.com/starthere.jsp?ei=1759715&tp_key=74466dd863

Replay Dial-in Numbers:
Toll Free: 1-844-512-2921
Toll/International:1-412-317-6671
Replay Pin Number: 13760041

A 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 Limited

Amber 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 Measures

The 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 Information

The 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 Statement

This 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 Contacts

In Asia:

Amber International Holding Limited

Media Relations Team

Phone: +65 6022 0228

E-mail: pr@ambr.io  | ir@ambr.io

In the United States:

International Elite Capital Inc.

Annabelle Zhang

Tel: +1 (646) 866-7928

E-mail: amber@iecapitalusa.com

 (financial tables follow)

AMBER INTERNATIONAL HOLDING LIMITED
Unaudited Condensed Consolidated Statements of Comprehensive (Loss)/Income
(US$'000, except share data and per share data, or otherwise noted)
		Three Months Ended December 31,				Year Ended December 31,
		2025		2024		2025		2024
Continuing operations
Revenue		16,337		4,796		66,089		7,475
Cost of revenue		(4,209)		(3,409)		(16,653)		(4,980)
Gross profit		12,128		1,387		49,436		2,495
Operating expenses
Research and development expenses		(1,201)		(129)		(10,812)		(452)
Sales and marketing expenses		(2,074)		(26)		(7,933)		(80)
General and administrative expenses		(7,694)		(2,287)		(28,096)		(7,269)
Total operating expenses		(10,969)		(2,442)		(46,841)		(7,801)
Operating income/(loss)		1,159		(1,055)		2,595		(5,306)
Finance income, net		238		19		548		104
Other (losses)/gains, net		(1,616)		(11,063)		505		(18,071)
(Loss)/income from continuing operations before share of   losses from an equity investee and income tax credit		(219)		(12,099)		3,648		(23,273)
Share of losses from an equity investee		(12)		—		(50)		—
(Loss)/income from continuing operations before income tax   credit		(231)		(12,099)		3,598		(23,273)
Income tax credit		1,058		—		1,067		—
Net income/(loss) from continuing operations		827		(12,099)		4,665		(23,273)
Net income attributable to non-controlling interests		—		—		—		—
Net income/(loss) from continuing operations   attributable to the Company's ordinary shareholders		827		(12,099)		4,665		(23,273)
Discontinued operations
Net loss from discontinued operations		(258)		—		(2,035)		—
Net loss attributable to non-controlling interests		1		—		1,121		—
Net loss from discontinued operations attributable to   the Company's ordinary shareholders		(257)		—		(914)		—
Net income/(loss)		569		(12,099)		2,630		(23,273)
Net income/(loss) attributable to the Company's ordinary   shareholders		570		(12,099)		3,751		(23,273)
Net income/(loss) from continuing operations		827		(12,099)		4,665		(23,273)
Other comprehensive loss:
Foreign currency translation adjustment, net of US$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 Ended December 31,				Year Ended December 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 LIMITED
Unaudited Condensed Consolidated Statements of Financial Position
(US$'000)
		As of December 31, 2025		As of December 31, 2024
Assets
Current assets
Cash and cash equivalents, time deposits and restricted cash		33,902		9,326
Accounts 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		12
Crypto assets loan receivables		42,141		69,934
Digital assets		45,958		4,832
Amounts due from related parties		32,371		11,533
Collateral receivables		3,407		14,414
Other 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		2,184
Assets held for sale		17		—
Total current assets		196,932		112,235
Non-current assets
Goodwill		53,136		16,735
Intangible assets		2,949		160
Other assets		3,362		704
Total non-current assets		59,447		17,599
Total assets		256,379		129,834
Liabilities and equity
Current liabilities
Accounts payable		3,080		763
Collateral payables		10,941		14,414
Liabilities due to customers		69,926		71,523
Payable to related parties		48,031		9,980
Other current liabilities		12,043		2,884
Liabilities held for sale		1,277		—
Total current liabilities		145,298		99,564
Non-current liabilities
Other liabilities		769		485
Total non-current liabilities		769		485
Total liabilities		146,067		100,049
Equity
Share capital		90,061		13,500
Accumulated losses		(33,139)		(36,890)
Reserve		53,390		53,175
Total equity		110,312		29,785
Total equity and liabilities		256,379		129,834

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 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 Ended December 31,				Year Ended December 31,
		2025		2024		2025		2024
Net income/(loss) from continuing operations		827		(12,099)		4,665		(23,273)
Add/(less):
Depreciation and amortization		409		89		1,451		379
Finance 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		18,007
Cost 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 Ended December 31,				Year Ended December 31,
		2025		2024		2025		2024
Net 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		18,007
Cost 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 Ended December 31,				Year Ended December 31,
		2025		2024		2025		2024
Net income/(loss) from continuing operations		827		(12,099)		4,665		(23,273)
Add: Non-GAAP adjustments		110		10,470		193		17,840
Adjusted 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		0.29
Diluted 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.html

SOURCE Amber International Holding Limited

FAQ

What were Amber International's full year 2025 revenue and gross margin (AMBR)?

Amber reported US$66.1M in total revenue for 2025 with a platform gross margin of 74.8%. According to the company, revenue reflects the first full year as a Nasdaq-listed entity and margin expansion driven by higher-weighted Wealth Management revenue.

Did Amber International report profitability or EBITDA for 2025 (AMBR)?

Yes. Adjusted EBITDA from continuing operations was US$4.7M for 2025, and the company reported GAAP continuing-operations profitability. According to the company, this marks a turnaround from a loss in 2024 driven by higher-margin services.

What regulatory milestones did Amber International achieve that affect growth (AMBR)?

Amber's Dubai subsidiary received a VARA VASP license on April 2, 2026, authorizing broker-dealer, management, and lending services. According to the company, this license enables expanded access to UAE HNWI and institutional clients under unified regulatory standards.

What is A-Suite and when will Amber International launch it (AMBR)?

A-Suite is the company's three-part AI-native operating system for on-chain liquidity, yield, and distribution, scheduled for launch in Q1 2026. According to the company, A-Suite aims to support agent-native financial services and tokenized asset workflows.