Amber International Holding Limited Reports 2024 Full Year Unaudited Financial Results and Highlights Strategic Developments
Rhea-AI Summary
Amber International Holding (NASDAQ: AMBR) has reported its unaudited financial results for 2024 and completed its merger with Amber DWM Holding in March 2025. The company, formerly known as iClick Interactive Asia Group, reported total revenue of US$32.8 million for 2024, down 9% from 2023.
Key financial metrics include:
- Marketing Solutions revenue: US$23.5 million (13% decrease)
- Enterprise Solutions revenue: US$9.3 million (3% increase)
- Gross profit: US$16.7 million (12% decrease)
- Net loss from continuing operations: US$24.0 million
The company announced a US$10 million crypto reserve plan and provided Q1 2025 revenue guidance for Amber Premium between US$12.5-13.5 million. Additionally, Amber DWM's 2024 performance showed revenue of US$42.4 million and operating profit of US$5.1 million.
Positive
- Merger with Amber DWM completed, expanding institutional crypto financial services
- Enterprise Solutions revenue increased by 3% to US$9.3 million
- Amber DWM showed strong performance with US$42.4M revenue and US$5.1M operating profit
- Board approved US$10 million crypto reserve plan
- Integration of Sparrow, a licensed Major Payment Institution in Singapore
Negative
- Total revenue declined 9% to US$32.8 million in 2024
- Marketing Solutions revenue decreased 13% to US$23.5 million
- Net loss from continuing operations increased to US$24.0 million from US$13.7 million
- Operating expenses increased to US$34.1 million from US$30.7 million
- Cash and equivalents decreased to US$19.6 million from US$41.3 million
News Market Reaction
On the day this news was published, AMBR gained 2.44%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
On March 12, 2025, the Company completed its previously announced merger with Amber DWM Holding Limited ("Amber DWM"), the digital wealth management business of Amber Group. The transaction was carried out via a merger between Amber DWM and Overlord Merger Sub Ltd., a wholly owned subsidiary of the Company. As part of this transaction, Amber DWM became a wholly owned subsidiary of the Company. The merger followed the signing of a definitive agreement on November 29, 2024, which was subsequently amended through a waiver and framework agreement dated March 12, 2025.
In connection with the merger, the Company changed its name from iClick Interactive Asia Group Limited to Amber International Holding Limited. The Company's American Depositary Shares ("ADSs") began trading on the Nasdaq under the new ticker symbol "AMBR" on March 13, 2025.
"This listing represents a major milestone for Amber International, providing us with a robust capital markets platform to scale our institutional crypto financial services and solutions globally," said Wayne Huo, CEO and Director of Amber International. "The legacy of iClick as a public company provided a strong foundation of governance and transparency, enabling a seamless transition to a listed crypto financial firm."
"As a public company headquartered in
Financial Highlights for the Year Ended December 31, 2024
The financial results discussed below reflect the Company's legacy operations in marketing solutions and enterprise solutions in
Prior to the merger, the Company completed the disposal of two businesses in mainland
Year Ended December 31, | ||||||
2024 | 2023 | Percentage | ||||
(US$ in thousands, except per share data) | ||||||
Financial Metrics: | ||||||
Revenue from continuing operations | ||||||
Marketing Solutions | 23,528 | 27,036 | (13) % | |||
Enterprise Solutions | 9,278 | 9,015 | 3 % | |||
Total revenue from continuing operations | 32,806 | 36,051 | (9) % | |||
Gross profit from continuing operations | 16,747 | 19,081 | (12) % | |||
Net loss from continuing operations | (24,006) | (13,683) | N/M | |||
Net loss from discontinued operations | (5,104) | (25,187) | N/M | |||
Diluted net loss from continuing operations per American Depositary | (2.61) | (1.33) | N/M | |||
Full Year of 2024 Results:
Revenue in 2024 was
Gross profit in 2024 was
Total operating expenses were
Other losses, net, were US
Net loss from continuing operations was US$ 24. 0 million in 2024, compared with the net loss of
Net loss from continuing operations attributable to the Company's shareholders per basic and diluted ADS in 2024 was US$ 2. 61, compared with a net loss attributable to the Company's shareholders per basic and diluted ADS of
Net loss from discontinued operations was
As of December 31, 2024, the Company (with continuing operations) had cash and cash equivalents, time deposits and restricted cash of
Recent Developments and Strategic Updates
Following the completion of the merger in March 2025, Amber International is executing a focused strategy to strengthen its leadership in institutional crypto finance.
The Company is enhancing its compliance-first, scalable platform to better serve the evolving needs of institutions and high-net-worth individuals globally. Strategic priorities for 2025 include continued expansion into the tokenization of real-world assets (RWA), enhancement of its institutional-grade product suite, and the rollout of a refined go-to-market strategy across core financial hubs. These efforts are supported by a broadened geographic footprint, with a particular focus on regulated markets in
As previously announced, Sparrow Tech Private Limited (Sparrow), a Major Payment Institution (MPI) licensed under the Payment Services Act by the Monetary Authority of
These developments mark the beginning of a new chapter for the Company as it expands its institutional digital asset business under the Amber Premium brand.
Amber DWM Financial Snapshot
In addition, the following summarized the financial figures of Amber DWM for the first half of 2024, second half of 2024 and full year of 2024.
(US$ in thousands) | Six-month | Six-month | Year ended | |
Revenue | 19,021 | 23,411 | 42,432 | |
Gross profit | 12,003 | 14,641 | 26,644 | |
Operating profit | 1,058 | 4,077 | 5,135 |
"We are glad to announce that our Board of Directors has approved a
Outlook
Based on the information available as of the date of this press release, the Company provides the following outlook for Amber Premium only in the first quarter of 2025:
First Quarter 2025:
- Amber Premium's Revenue is estimated to be between
US and$12.5 million US $13.5 million
The above outlook is based on current market conditions and reflects the Company's preliminary estimates of market and operating conditions, expected foreign exchange fluctuation, and customer demand, which are all subject to change. 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
Participant Dial-in Numbers:
Toll Free: 1-877-407-0784
Toll/International: 1-201-689-8560
The conference call will also be available via a live webcast at https://viavid.webcasts.com/starthere.jsp?ei=1717116&tp_key=f464eb896f
Replay Dial-in Numbers:
Toll Free: 1-844-512-2921
Toll/International: 1-412-317-6671
Replay Pin Number: 13753493
A replay of the call will be available on Monday, April 28, 2025, after 12:00 PM ET through Monday, May 12, 2025 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 leading provider of institutional crypto financial services and solutions. A subsidiary of Amber Group, Amber Premium delivers institutional-grade market access, execution infrastructure, and investment solutions to help institutions and high-net-worth individuals optimize their digital asset portfolios. The firm offers a regulated, scalable financial ecosystem powered by proprietary blockchain and financial technologies, AI-driven risk management, and quantitative algorithms across CeFi, DeFi, and OTC markets. Learn more at www.ambr.io.
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. Such risks and uncertainties include, but are not limited to: (i) the risk that the Company may not obtain the regulatory approval in relation to DWM Asset Restructuring in a timely manner or at all and may need to continue relying on the intercompany service agreements to receive the economic benefits of the WFTL Assigned Contracts ; (ii) risks related to the performance of the amendment, waiver and framework agreement, including the expected timing and likelihood of receipt of the regulatory approvals contemplated therein; (iii) the risk that the Company's business lines are nascent, not fully proven by market and subject to material legal, regulatory, operational, reputational, tax and other risks in the jurisdictions where it operates; (iv) the risk of declining prices of digital assets and reduced transaction volumes conducted by the Company; and (v) regulatory and market risks related to cryptocurrencies and digital assets and in the jurisdictions where the Company operates. Further information regarding these and other risks is included in the Company's annual report 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 |
Amber International Holding Limited |
Serena Wang |
Phone: +65 6022 0228 |
E-mail: pr@ambr.io | ir@ambr.io | amber@paradigmconsulting.com.hk |
In |
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 (US$'000, except share data and per share data, or otherwise noted) | ||||
Year Ended | ||||
2024 | 2023 | |||
Continuing operations | ||||
Revenue | 32,806 | 36,051 | ||
Cost of revenue | (16,059) | (16,970) | ||
Gross profit | 16,747 | 19,081 | ||
Operating expenses | ||||
Research and development expenses | (878) | (923) | ||
Sales and marketing expenses | (7,118) | (17,280) | ||
General and administrative expenses | (26,058) | (10,838) | ||
Impairment of long-lived assets | (53) | (1,684) | ||
Total operating expenses | (34,107) | (30,725) | ||
Interest expense | 1,083 | 1,162 | ||
Interest income | (511) | (193) | ||
Other losses, net | (7,210) | (2,299) | ||
Loss from continuing operations before share of loss from an equity investee | (23,998) | (12,974) | ||
Share of losses from an equity investee | (76) | (61) | ||
Loss before income tax expense | (24,074) | (13,035) | ||
Income tax credit/(expense) | 68 | (648) | ||
Net loss from continuing operations | (24,006) | (13,683) | ||
Net loss attributable to non-controlling interests | 71 | 103 | ||
Net loss attributable to the Company's ordinary shareholders | (23,935) | (13,580) | ||
Discontinued operations | ||||
Loss from operations of discontinued operations | (7,666) | (25,188) | ||
Income tax (expense)/credit | (23) | 1 | ||
Gain on disposal of discontinued operations | 2,585 | — | ||
Net loss from discontinued operations | (5,104) | (25,187) | ||
Net loss attributable to non-controlling interests | 32 | 77 | ||
Net loss from discontinued operations attributable to the Company's ordinary | (5,072) | (25,110) | ||
Net loss | (29,110) | (38,870) | ||
Net loss attributable to the Company's ordinary shareholders | (29,007) | (38,690) | ||
Net loss from continuing operations | (24,006) | (13,683) | ||
Other comprehensive loss: | ||||
Change in net retirement benefits plan – prior service cost | — | (32) | ||
Foreign currency translation adjustment, net of US$nil tax | 3,749 | 482 | ||
Comprehensive loss from continuing operations | (20,257) | (13,233) | ||
Comprehensive loss from continuing operations attributable to | 2,736 | 163 | ||
Comprehensive loss from continuing operations attributable to the | (17,521) | (13,070) | ||
Net loss from discontinued operations | (5,104) | (25,187) | ||
Other comprehensive income: | ||||
Foreign currency translation adjustment, net of | — | (485) | ||
Comprehensive loss from discontinued operations | (5,104) | (25,672) | ||
Comprehensive loss from discontinued operations attributable to non-controlling | 32 | 69 | ||
Comprehensive loss from discontinued operations attributable to the Company's | (5,072) | (25,603) | ||
Comprehensive loss attributable to the Company's ordinary shareholders | (22,593) | (38,673) | ||
Net loss from continuing operations per ADS attributable to the Company's | ||||
— Basic | (2.61) | (1.33) | ||
— Diluted | (2.61) | (1.33) | ||
Net loss from discontinued operations per ADS attributable to the Company's | ||||
— Basic | (0.55) | (2.46) | ||
— Diluted | (0.55) | (2.46) | ||
Net loss per ADS attributable to the Company's ordinary shareholders | ||||
— Basic | (3.17) | (3.78) | ||
— Diluted | (3.17) | (3.78) | ||
Weighted average number of ADS used in per share calculation: | ||||
— Basic | 9,161,391 | 10,223,660 | ||
— Diluted | 9,161,391 | 10,223,660 | ||
AMBER INTERNATIONAL HOLDING LIMITED Unaudited Condensed Consolidated Balance Sheets (US$'000, except share data and per share data, or otherwise noted) | ||||
As of | As of | |||
Assets | ||||
Current assets | ||||
Cash and cash equivalents, time deposits and restricted cash | 19,639 | 41,264 | ||
Accounts receivable, net of allowance for credit losses of | 10,020 | 13,535 | ||
Other current assets, net of allowance for credit losses of | 18,939 | 11,516 | ||
Discontinued operations | — | 93,488 | ||
Total current assets | 48,598 | 159,803 | ||
Non-current assets | ||||
Other assets | 999 | 3,596 | ||
Discontinued operations | — | 305 | ||
Total non-current assets | 999 | 3,901 | ||
Total assets | 49,597 | 163,704 | ||
Liabilities and equity | ||||
Current liabilities | ||||
Accounts payable | 5,192 | 4,462 | ||
Bank borrowings | 1,933 | 1,965 | ||
Other current liabilities | 26,340 | 20,212 | ||
Discontinued operations | — | 93,433 | ||
Total current liabilities | 33,465 | 120,072 | ||
Non-current liabilities | ||||
Other liabilities | 1,750 | 1,647 | ||
Discontinued operations | — | 733 | ||
Total non-current liabilities | 1,750 | 2,380 | ||
Total liabilities | 35,215 | 122,452 | ||
Equity | ||||
Ordinary shares – Class A ( | 39 | 45 | ||
Ordinary shares – Class B ( | 5 | 5 | ||
Treasury shares (3,011,702 shares and 6,398,614 shares as of December 31, 2024 | (32) | (28,656) | ||
Other reserves | 13,011 | 65,731 | ||
Total equity attributable to equity holders of the Company | 13,023 | 37,125 | ||
Non-controlling interests | 1,359 | 4,127 | ||
Total equity | 14,382 | 41,252 | ||
Total liabilities and equity | 49,597 | 163,704 | ||
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SOURCE Amber International Holding Limited
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