Diginex Limited Announces Robust 293% Revenue Growth and Enhanced Balance Sheet for Six Months Ended September 30, 2025

Rhea-AI Summary

Diginex (NASDAQ: DGNX) reported unaudited results for the six months ended September 30, 2025, with total revenue rising 293% to $2.0M from $0.5M a year earlier, driven by subscription and license fees ($1.9M). The company recorded a net operating loss of $6.0M versus $4.2M prior-year, with G&A increasing to $8.1M.

Balance sheet strength improved: net assets increased to $10.9M (from $4.6M at March 31, 2025), the company remains debt-free, completed an all-share acquisition of Matter DK ApS (~$13M) and received $13.8M cash from warrant exercises to support M&A and product development.

Positive

• Revenue +293% to $2.0M six months ended Sept 30, 2025
• Subscription and license fees rose to $1.9M
• Net assets increased to $10.9M as of Sept 30, 2025
• Warrant exercise generated $13.8M cash on Oct 23, 2025
• Completed Matter DK acquisition valued at ~$13M

Negative

• Net operating loss widened to $6.0M from $4.2M
• G&A expenses increased to $8.1M (up $3.4M)
• Professional fees rose by $2.2M due to M&A activity

Key Figures

Revenue growth 293% Six months ended September 30, 2025 vs prior-year period

Total revenue $2.0 million Six months ended September 30, 2025

Prior-period revenue $0.5 million Six months ended September 30, 2024

Net operating loss $6.0 million Six months ended September 30, 2025

Net operating loss prior $4.2 million Six months ended September 30, 2024

Net assets $10.9 million As of September 30, 2025

Matter DK acquisition value US$13 million All-share transaction for Matter DK ApS

Warrant exercise proceeds US$13.8 million Cash received through exercise of outstanding warrants

Market Reality Check

$8.48 Last Close

Volume Volume 737,643 is below the 20-day average of 904,571 (relative volume 0.82). normal

Technical Price $8.07 is trading below the 200-day MA of $10.69, after a -8.85% move.

Peers on Argus

DGNX fell 8.85% while key Consulting peers like ICFI (-2.76%), SBC (-3.17%) and FCN (-2.15%) were also down, but no peers appeared in the momentum scanner, suggesting a more stock-specific move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 02	Platform expansion	Positive	-1.8%	Nonbinding MOU to acquire Plan A carbon accounting platform.
Dec 02	Acquisition MOU	Positive	-1.8%	All-share MOU to combine Plan A with Diginex ESG tools.
Dec 01	Strategy overview	Positive	-7.5%	Description of compliance platform and planned MOUs for Kindred OS, Remedy.
Nov 28	Platform positioning	Positive	+0.6%	Details on AI-powered emissions engine and compliance super-stack strategy.
Nov 21	Acquisition MOU	Positive	+1.9%	MOU to acquire The Remedy Project and updates on broader M&A pipeline.

Pattern Detected

Recent news has been largely positive, yet price often reacted negatively or only modestly, showing 3 divergences vs 2 aligned moves on upbeat strategic updates.

Recent Company History

Over the last few weeks, Diginex has focused on building an AI‑driven compliance and ESG “super‑stack” via multiple MOUs and acquisitions. Announcements between Nov 21 and Dec 2, 2025 highlighted planned deals for The Remedy Project, Kindred OS and Plan A, plus broader positioning around tightening regulations such as CSRD and UFLPA. Despite the strategic tone, price reactions were mixed, with several positive headlines followed by negative moves. Today’s strong revenue growth and balance‑sheet improvement fit into that same expansion and M&A‑driven narrative.

Market Pulse Summary

The stock surged +20.8% in the session following this news. A strong positive reaction aligns with the article’s focus on 293% revenue growth to $2.0 million, a higher net asset base of $10.9 million, and added liquidity from the US$13.8 million warrant exercise. However, the company still reported a net operating loss of $6.0 million and materially higher general and administrative expenses, so any sharp upside move could be vulnerable if investors refocus on ongoing losses or M&A execution risks.

Key Terms

regtech financial

"a recognized provider of Sustainability RegTech solutions, today announced"

Regtech is software and digital tools that help companies follow laws and reporting rules automatically, by monitoring transactions, flagging risks, and generating required reports. For investors, regtech matters because it reduces the chance of costly fines or business disruptions, lowers compliance costs, and can speed operations—think of it as a smart navigation and alert system that keeps a company on the legal road so capital and management focus on growth rather than paperwork.

m&a financial

"The Company’s M&A drive increases costs contributing to a net operating loss"

M&A, short for mergers and acquisitions, involves one company combining with or purchasing another company to grow, streamline operations, or gain competitive advantages. For investors, M&A activity can signal potential for increased value, new opportunities, or changes in market dynamics, making it an important factor to watch in the business landscape.

ipo financial

"public-market presence following the January 2025 IPO."

An initial public offering (IPO) is the process by which a private company sells its shares to the public for the first time, making its ownership available on the stock market. This allows the company to raise money from a wide range of investors to fund growth or other goals. For investors, an IPO offers a chance to buy into a company early in its public journey, potentially benefiting if the company grows in value.

esg technical

"strengthening the Company’s AI-driven ESG data and analytics capabilities."

ESG stands for Environmental, Social, and Governance, which are key factors investors consider when evaluating how sustainable and responsible a company is. It involves assessing how a company manages its impact on the environment, treats its employees and communities, and operates transparently and ethically. Investors use ESG criteria to identify businesses that align with their values and have the potential for long-term success.

ai technical

"strengthening the Company’s AI-driven ESG data and analytics capabilities."

Artificial intelligence (AI) is technology that enables machines to mimic human thinking and learning, allowing them to analyze information, recognize patterns, and make decisions. For investors, AI matters because it can improve how businesses operate, create new products, or identify opportunities faster and more accurately than humans alone, potentially impacting company success and market trends.

warrants financial

"Received approximately US$13.8 million through the exercise of outstanding warrants"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

issb regulatory

"align with the International Sustainability Standards Board (ISSB) S1 and S2"

The ISSB (International Sustainability Standards Board) is an independent global body that creates common rules for companies to report environmental, social and governance information in a consistent way. For investors, those rules act like a standardized label on products—making it easier to compare risks and opportunities across companies, assess long-term resilience, and factor sustainability into valuation and investment decisions.

saas technical

"scaling its SaaS platforms, diginexESG and diginexLUMEN."

SaaS, or Software as a Service, is a way of delivering computer programs over the internet, allowing users to access and use them through a web browser without needing to install or maintain the software themselves. For investors, it highlights a business model where companies generate recurring revenue by providing ongoing access to their software, often leading to predictable income and growth potential.

AI-generated analysis. Not financial advice.

LONDON, Dec. 09, 2025 (GLOBE NEWSWIRE) -- Diginex Limited (“Diginex” or the “Company”) (NASDAQ: DGNX), a recognized provider of Sustainability RegTech solutions, today announced its unaudited financial results for the six months ended September 30, 2025.

Six Months Ended September 30, 2025 Key Highlights:

• Strategic relationship ramp-up as half-year revenue increases 293% to $2.0 million, compared to $0.5 million in prior-year period, driven primarily by higher subscription and license fees
• The Company’s M&A drive increases costs contributing to a net operating loss of $6.0 million, compared with $4.2 million in the first half of 2024.
• Net assets increased to $10.9 million as of September 30, 2025, from $4.6 million at March 31, 2025.
• The Company evaluated hundreds of different strategic growth/M&A initiatives through new collaboration discussions, business combinations and partnership opportunities that support the expansion of the Company’s sustainability, compliance and risk intelligence ecosystem.
• The Company maintained a debt-free balance sheet with no interest-bearing borrowings, preserving financial flexibility to fund strategic initiatives and operational growth.
  
  

Strategic Highlights Subsequent to September 30, 2025

• Completed the acquisition of Matter DK ApS in an all-share transaction valued at approximately US$13 million, strengthening the Company’s AI-driven ESG data and analytics capabilities.
• Received approximately US$13.8 million through the exercise of outstanding warrants, further improving the Company’s capital base and liquidity position to pursue our active M&A push for diversified revenues streams.
• Launched an AI powered ISSB Disclosure Tool, a solution designed to help organizations rapidly align with the International Sustainability Standards Board (ISSB)S1 and S2 disclosure requirements partly funded by the Hong Kong Monetary Authority (“HKMA”). 
  
  

Management Commentary

Mark Blick, Chief Executive Officer of Diginex Limited, commented:

“The first half of fiscal 2025 has been transformative for Diginex. We delivered 293% revenue growth, driven by strong organic demand for our ESG reporting and supply chain solutions as well as a landmark licensing agreement. At the same time, we significantly strengthened our financial position through the successful IPO in January, the subsequent warrant exercise, and the completion of the strategic acquisition of Matter DK ApS in October.

We believe these achievements give us a solid foundation to accelerate both organic growth and our planned disciplined M&A strategy. We continue to enhance our AI-powered platforms, most notably with fully automated regulatory gap analysis and advanced data visualization capabilities, while expanding our sales channels to capitalize on rising global demand for transparent, compliant sustainability data. We are excited about the opportunities ahead and remain committed to delivering long-term value to our shareholders.”

Revenues

	For the six months ended September 30,
in USD millions	2025	2024
Subscription and license fees	1.9	0.2
Advisory fees	0.1	0.1
Customization fees	0.0	0.2
Total	2.0	0.5

For the six months ended September 30, 2025, total revenue rose $1.5 million (293%) to $2.0 million from $0.5 million in the prior-year period. The increase was driven primarily by subscription and license fees, which grew from $0.2 million to $1.9 million, including a significant one-time license fee for a white-label version of diginexESG. Advisory fees remained stable at $0.1 million, while customization revenue declined as expected as the Company focused resources on core product development and scaling its SaaS platforms, diginexESG and diginexLUMEN.

General and Administrative Expenses

	For the six months ended September 30,
in USD millions	2025	2024
Employee benefits	3.1	2.2
IT development and maintenance support	0.8	0.9
Audit fees	0.2	0.2
Professional fees	3.0	0.8
Investor Relations	0.2	0.0
Travel and entertainment	0.4	0.1
Share based payments	0.0	0.4
Amortization and depreciation	0.1	0.1
Other	0.3	0.0
	8.1	4.7

General and administrative expenses increased by $3.4 million to $8.1 million for the six months ended September 30, 2025, from $4.7 million in the prior-year period. The rise was largely attributable to a $2.2 million increase in professional fees related to extensive M&A due diligence and legal work. Employee benefit expenses rose by $0.9 million, reflecting continued investment in sales and business development talent. Other notable increases included travel and investor relations costs as the Company expanded its public-market presence following the January 2025 IPO.

Balance Sheet Highlights

Net assets strengthened to $10.9 million as of September 30, 2025, up from $4.6 million as of March 31, 2025. The Company continues to operate with no interest-bearing debt. Subsequent to period-end, the October 23, 2025 warrant exercise that generated $13.8 million in cash through the issuance of 18 million ordinary shares has further bolstered the balance sheet and provided additional flexibility to pursue growth initiatives.

About Diginex
Diginex Limited (Nasdaq: DGNX; ISIN KYG286871044), headquartered in London, is a sustainable RegTech business that empowers businesses and governments to streamline ESG, climate, and supply chain data collection and reporting. The Company utilizes blockchain, AI, machine learning and data analysis technology to lead change and increase transparency in corporate regulatory reporting and sustainable finance. Diginex’s products and services solutions enable companies to collect, evaluate and share sustainability data through easy-to-use software. 

The award-winning diginexESG platform supports 19 global frameworks, including GRI (the “Global Reporting Initiative”), SASB (the “Sustainability Accounting Standards Board”), and ISSB (IFRS Sustainability Disclosure Standards.). Clients benefit from end-to-end support, ranging from materiality assessments and data management to stakeholder engagement, report generation and an ESG Ratings Support Service.

For more information, please visit the Company’s website: https://www.diginex.com/.

Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions. The Company undertakes no obligation to update or revise publicly any 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 and encourages investors to review other factors that may affect its future results disclosed in the Company's filings with the SEC.

Diginex
Investor Relations
Email: ir@diginex.com

IR Contact - Europe
Anna Höffken
Phone: +49.40.609186.0
Email: diginex@kirchhoff.de

IR Contact - US
Jackson Lin
Lambert by LLYC
Phone: +1 (646) 717-4593
Email: jian.lin@llyc.global

DIGINEX LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE LOSS
For the six months ended September 30, 2025 and 2024 (unaudited)
		Six Months Ended	Six Months Ended
		September 30, 2025	September 30, 2024
		USD	USD
Revenue		2,045,408	520,795
General and administrative expenses		(8,093,038)	(4,717,260)
OPERATING LOSS		(6,047,630)	(4,196,465)
Other income or gains		259,958	3,278,531
Finance cost, net		(7,344)	(243,537)
LOSS BEFORE TAX		(5,795,016)	(1,161,471)
Income tax expense		(10,750)	-
LOSS FOR THE PERIOD		(5,805,766)	(1,161,471)
OTHER COMPREHENSIVE (LOSS) INCOME
Items that may be reclassified subsequently to profit or loss:
Exchange (loss) gain on translation of foreign operations		(2,259)	4,411
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD		(5,808,025)	(1,157,060)
LOSS PER SHARE ATTRIBUTABLE TO THE ORDINARY EQUITY HOLDERS OF THE COMPANY
Basic loss per share		(0.03)	(0.01)
Diluted loss per share		(0.03)	(0.04)

DIGINEX LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
At September 30, 2025 and March 31, 2025
		September 30, 2025	March 31, 2025
		USD	USD
		(Unaudited)
ASSETS
Right-of-use assets		222,637	225,672
Rental deposit		59,247	45,463
Total non-current assets		281,884	271,135
Trade receivables, net		2,495,302	1,394,545
Contract assets		-	750
Other receivables, deposit and prepayment		10,073,821	1,066,191
Restricted bank balance		383,400	399,400
Cash and cash equivalents		1,850,673	3,111,141
Total current assets		14,803,196	5,972,027
LIABILITIES
Trade payables		(637,680)	(200,660)
Other payables and accruals		(2,724,912)	(706,874)
Deferred revenues		(611,260)	(505,424)
Due to a related company		-	(34,579)
Lease liabilities, current		(181,091)	(126,808)
Total current liabilities		(4,154,943)	(1,574,345)
Lease liabilities, net of current portion		(48,293)	(110,867)
Total non-current liabilities		(48,293)	(110,867)
Net current assets		10,648,253	4,397,682
Net assets		10,881,844	4,557,950
EQUITY
Share capital		10,098	1,150
Share premium		54,608,823	25,689,436
Capital reserve		5,126,150	5,126,150
Warrant reserve		61,886,200	79,263,200
Exchange reserve		(3,910)	(1,651)
Share option reserve		1,730,804	1,076,345
Accumulated losses		(112,476,321)	(106,596,680)
Total equity		10,881,844	4,557,950

DIGINEX LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the six months ended September 30, 2025 and 2024 (unaudited)
		Six Months Ended	Six Months Ended
		September 30, 2025	September 30, 2024
		USD	USD
CASH FLOWS FROM OPERATING ACTIVITIES
Loss before taxation		(5,795,016)	(1,161,471)
Adjustments for:
Amortization - right-of-use assets		90,773	63,036
Impairment losses recognized in respect of trade receivables		17,649	10,018
Other interest income		(211,438)	-
Finance costs		7,344	243,537
Share option awards		589,419	320,533
Share-based payments expenses on anti-dilution issuance of preferred shares		-	369,648
Net fair value loss of convertible loan notes		-	274,000
Net fair value gain of preferred shares		-	(3,539,648)
Operating cash flows before movements in working capital		(5,301,269)	(3,420,347)
Movements in working capital
Trade receivables		(1,118,406)	87,552
Other receivables, deposit and prepayment		(37,188)	(210,466)
Contract assets		750	(18,028)
Trade and other payables		2,468,799	589,091
Deferred revenue		105,836	51,885
Cash used in operations		(3,881,478)	(2,920,313)
Income tax paid		(10,750)	-
Net cash used in operating activities		(3,892,228)	(2,920,313)
CASH FLOWS FROM INVESTING ACTIVITIES
Advance to Resulticks Group Companies Pte Ltd		(8,000,000)	-
Loan to Matter DK ApS		(759,004)	-
Payment to rental deposit		(13,784)	-
Cash used in investing activities		(8,772,788)	-
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from exercise of the IPO Warrants (Tranche 1)		11,542,500	-
Proceeds from issuance of ordinary shares		-	50
Loans from immediate holding company		-	2,335,461
Advances from immediate holding company		-	713,719
Repayment to a related company		(34,579)	-
Repayment of lease liabilities		(103,373)	(104,715)
Net cash generated from financing activities		11,404,548	2,944,515
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS		(1,260,468)	24,202
Cash and cash equivalents at the beginning of the period		3,111,141	76,620
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD		1,850,673	100,822

FAQ

What drove Diginex (DGNX) revenue growth in H1 FY2025?

Revenue grew 293% to $2.0M, driven mainly by subscription and license fees increasing to $1.9M, including a one-time white-label license.

How did Diginex (DGNX) strengthen its balance sheet after Sept 30, 2025?

Net assets rose to $10.9M and a $13.8M warrant exercise on Oct 23, 2025 provided additional cash.

What was the financial impact of Diginex (DGNX) M&A activity in H1 2025?

M&A-related costs contributed to higher professional fees and helped complete an all-share acquisition of Matter DK valued at ~$13M.

Is Diginex (DGNX) carrying interest-bearing debt as of Sept 30, 2025?

No, the company reported a debt-free balance sheet with no interest-bearing borrowings.

What caused Diginex (DGNX) to report a wider operating loss in H1 2025?

Operating loss widened to $6.0M largely due to increased G&A spending, including professional fees for M&A and higher employee costs.