Financial Performance - Total Processing Value (TPV) for Q3 2024 was $1.21 billion, up 6.1% YoY, and $3.92 billion for the first nine months of 2024, up 18.8% YoY[3] - Total revenues for Q3 2024 were $11.3 million, down 11.0% YoY, and $35.4 million for the first nine months of 2024, down 11.3% YoY, primarily due to declines in global airtime revenue and remittance revenues from divested subsidiaries[4] - Revenue for the three months ended September 30, 2024, was $11.26 million, a decrease of 11.6% compared to $12.74 million in the same period in 2023[19] - Net loss for Q3 2024 was $5.0 million, up 31.6% YoY, and $11.3 million for the first nine months of 2024, up 8.7% YoY[7] - Net loss for the three months ended September 30, 2024, was $5.02 million, compared to a net loss of $3.82 million in the same period in 2023[19] - Total comprehensive loss attributable to CURRENC Group Inc. for Q3 2024 was $5.1 million, up 34.2% YoY, and $12.1 million for the first nine months of 2024, up 15.2% YoY[8] - Total comprehensive loss for the nine months ended September 30, 2024, was $11.45 million, compared to $10.06 million in the same period in 2023[19] - Net loss per share for the three months ended September 30, 2024, was $0.13, compared to $0.11 in the same period in 2023[19] - Net loss for 2024 was $11.26 million, compared to $10.45 million in 2023[22] EBITDA and Operating Expenses - Adjusted EBITDA loss for Q3 2024 was $0.2 million, narrowing by 83.3% YoY, and $0.6 million for the first nine months of 2024, narrowing by 75.0% YoY[7] - Tranglo maintained a positive EBITDA of $48,000 for the third quarter of 2024[25] - Group EBITDA for the third quarter of 2024 was -$191,000, compared to -$1,197,000 in 2023[25][27] - Tranglo and WalletKu combined EBITDA for the first nine months of 2024 was $1.74 million[30] - Group EBITDA for the first nine months of 2024 was -$616,000, compared to -$2.45 million in 2023[30] - Operating expenses for Q3 2024 were $19.1 million, up from $6.5 million YoY, and $30.0 million for the first nine months of 2024, up from $18.8 million YoY, driven by non-recurring costs related to the merger with INFINT SPAC[10][11] - General and administrative expenses for the three months ended September 30, 2024, were $19.06 million, compared to $6.45 million in the same period in 2023[19] Revenue Breakdown - Tranglo's remittance revenues for Q3 2024 were $4.5 million, down 1.0% YoY, and $14.3 million for the first nine months of 2024, remaining stable YoY[6] - Tranglo's global airtime transfer revenues for Q3 2024 were $2.3 million, down 22.1% YoY, and $7.3 million for the first nine months of 2024, down 22.3% YoY[6] - WalletKu's Indonesian airtime revenues for Q3 2024 were $4.0 million, up from $3.4 million YoY, and $10.2 million for the first nine months of 2024, down from $10.5 million YoY[10] Cash Flow and Financial Position - Cash and cash equivalents as of September 30, 2024, were $49.06 million, slightly higher than $48.52 million as of December 31, 2023[21] - Total current assets decreased to $82.53 million as of September 30, 2024, from $103.36 million as of December 31, 2023[21] - Total liabilities decreased to $137.70 million as of September 30, 2024, from $177.68 million as of December 31, 2023[21] - Total shareholders' deficit attributable to CURRENC Group Inc. improved to $46.95 million as of September 30, 2024, from $62.76 million as of December 31, 2023[21] - Net cash used in operating activities for 2024 was $11.67 million, compared to $10.84 million in 2023[22] - Net cash generated from financing activities in 2024 was $2.18 million, compared to -$148,066 in 2023[22] Other Income and Expenses - Other income for the three months ended September 30, 2024, was $15.01 million, significantly higher than $241,300 in the same period in 2023[19] - Non-cash expense for share-based compensation in 2024 was $13.14 million[22] - Disposal of subsidiaries resulted in a goodwill impairment of $21.74 million in 2024[22] Divestitures - TNG Asia and GEA were divested in August 2024 and July 2024, respectively[27][30]

Core Viewpoint - CURRENC Group Inc. reported its unaudited financial results for Q3 2024, highlighting a mixed performance with growth in processing value but declines in total revenues and net loss [1][2]. Financial Highlights - Total Processing Value (TPV) reached US$1.21 billion for Q3 2024, up 6.1% year-over-year, and US$3.92 billion for the first nine months, increasing by 18.8% [2][3]. - Total revenues for Q3 2024 were US$11.3 million, a decrease of 11.0% year-over-year, and US$35.4 million for the first nine months, down 11.3% [2][3]. - Total remittance revenues were US$4.9 million for Q3 2024, down 22.2% year-over-year, and US$17.8 million for the first nine months, decreasing by 10.6% [2][3]. - Adjusted EBITDA loss for Q3 2024 was US$0.2 million, narrowing by 83.3% year-over-year, while the loss for the first nine months was US$0.6 million, a 75.0% improvement [2][3]. - Net loss for Q3 2024 was US$5.0 million, increasing by 31.6% year-over-year, and US$11.3 million for the first nine months, up 8.7% [2][3]. Core Business Performance - Tranglo's remittance revenues were US$4.5 million for Q3 2024, down 1.0% year-over-year, and US$14.3 million for the first nine months, remaining stable [2][3]. - CURRENC's global airtime transfer revenues were US$2.3 million for Q3 2024, down 22.1% year-over-year, and US$7.3 million for the first nine months, decreasing by 22.3% [2][3]. - Operating expenses increased significantly to US$19.14 million for Q3 2024, compared to US$6.5 million in the same period last year [3][4]. Management Insights - The management expressed confidence in the company's strategic achievements and operational excellence, emphasizing the focus on Tranglo as the primary growth driver following the divestment of TNG Asia and GEA [5]. - The company aims to optimize cost structures and enhance profitability while leveraging its core remittance business [5].

Transaction Volume and Value - As of September 30, 2024, Tranglo processed approximately 8.56 million transactions with a total processing value of $3.92 billion, representing a 5.5% increase in volume and an 18.8% increase in value compared to the same period in 2023[188]. - For the nine-month period ended September 30, 2024, Tranglo processed 8.56 million remittance transactions with a total value of $3.92 billion, compared to 8.11 million transactions valued at $3.3 billion in the same period of 2023, reflecting a transaction increase of 5.5% and a value increase of 18.8%[237]. - Currenc processed 2.71 million remittance transactions valued at $1.21 billion for the three-month period ended September 30, 2024, compared to 2.72 million transactions valued at $1.14 billion for the same period in 2023[220]. User Growth - The number of unique users for Tranglo increased to 1,024,100 as of September 30, 2024, up from 866,800 a year earlier, while average monthly unique sending accounts rose to 358,900 from 326,500[189]. - The number of unique users increased to 1,024,100 as of September 30, 2024, from 866,800 as of September 30, 2023, representing an increase of 18.1%[238]. - The number of average monthly unique sending accounts increased from 326,500 for the nine-month period ended September 30, 2023, to 358,900 for the same period in 2024, reflecting an increase of 9.9%[238]. Revenue Performance - For the three-month period ended September 30, 2024, Currenc's revenue decreased by 11.0% to $11.3 million compared to $12.7 million for the same period in 2023, primarily due to a 22.1% decline in global airtime revenue[219]. - For the nine-month period ended September 30, 2024, Currenc's revenue decreased by 11.3% to $35.4 million compared to $39.9 million for the same period in 2023, driven by a 22.3% decline in global airtime revenue[236]. - Currenc's global airtime revenue for the nine-month period ended September 30, 2024, declined by 22.3% to $7.3 million compared to $9.4 million for the same period in 2023[239]. Operating Expenses and Losses - Currenc's operating expenses increased sharply from $6.5 million for the three-month period ended September 30, 2023, to $19.1 million for the same period in 2024, largely due to a $13.1 million expense related to incentive shares granted to employees[227]. - Operating expenses for Currenc increased sharply to $30.0 million for the nine-month period ended September 30, 2024, from $18.8 million in the same period of 2023, primarily due to $13.1 million in incentive shares granted to employees[246]. - Currenc's net loss for the three-month period ended September 30, 2024, was $5.0 million, compared to a net loss of $3.8 million for the same period in 2023[218]. - For the nine-month period ended September 30, 2024, Currenc recorded a net loss of $11.261 million, compared to a net loss of $10.447 million for the same period in 2023[262]. Cash and Capital Management - As of September 30, 2024, Currenc had cash balances of $49.1 million, a working capital deficit of $54.1 million, and a net capital deficit of $22.7 million[270]. - The company believes its current cash and cash equivalents will be sufficient to meet anticipated cash needs for at least the next 12 months[273]. - Net cash provided by financing activities amounted to $2.2 million in the nine-month period ended September 30, 2024, primarily from the issuance of convertible bonds[280]. Business Strategy and Market Development - The company aims to develop B2C markets in Southeast Asia and the Middle East to capture retail remittance and airtime markets, which could generate significant clientele and synergy for its businesses[206]. - The company continues to drive adoption of its platform for money transfer and payment processing services, aiming to introduce new B2C financial services in Southeast Asia and the Middle East[207]. - Currenc's ability to maintain and build its partner network is crucial for its business scope and scale, impacting its operational results[213]. Revenue Recognition and Accounting Policies - The Company generates revenue through Fiat Currency Prefunded Remittance Fees, which are fixed and specific for each country's currency, charged at the time of transaction[298]. - The XRP Prefunded Remittance Service allows customers to obtain prefunding through Ripple's solution, with the Company charging an XRP Prefunded Remittance Service Fee upon transfer[299]. - Revenue from airtime sales is recognized when the international airtime transfer or reload request is processed[303]. - The Company performs annual goodwill impairment tests, with no impairment recorded for the periods ended September 30, 2024, and December 31, 2023[306]. Other Financial Metrics - The direct costs for remittance revenue decreased by 18.5% to $2.2 million for the three-month period ended September 30, 2024, from $2.7 million for the same period in 2023[225]. - The direct costs for remittance revenue decreased by 9.4% to $7.7 million for the nine-month period ended September 30, 2024, despite an 18.8% increase in total payment volume (TPV)[244]. - EBITDA for the nine-month period ended September 30, 2024, was a loss of $616,000, an improvement from a loss of $2.449 million in the same period of 2023[257].

Financial Performance - For the three months ended June 30, 2024, the company reported a net income of $174,050, with operating costs of $537,075 and interest earned of $711,125 from marketable securities held in the Trust Account [123]. - For the six months ended June 30, 2024, the company had a net income of $764,153, consisting of operating costs of $896,072 and interest earned of $1,660,225 from marketable securities [123]. Marketable Securities - As of June 30, 2024, the company held marketable securities in the Trust Account amounting to $55,457,522, primarily in a money market fund and government bonds [130]. - The company plans to use funds held in the Trust Account primarily for acquiring a target business and covering related expenses [130]. - The Company does not expect to generate operating revenues until after the completion of its Business Combination, relying on non-operating income from interest on marketable securities [138]. Initial Public Offering - The company generated gross proceeds of $173,912,000 from its Initial Public Offering of 17,391,200 Units, with each Unit sold at an offering price of $10.00 [125]. Working Capital and Cash Position - The company had a working capital deficit of $5,412,119 as of June 30, 2024, with only $8,780 in cash available in its operating account [131]. - The Company has $8,780 in cash, which may not be sufficient to sustain operations for at least the next 12 months [137]. Business Combination and Compliance - The company has until November 23, 2024, to consummate its initial business combination following the approval of the Third Extension Proposal [118]. - The company received a notification from NYSE regarding non-compliance with the minimum public shareholders requirement, and submitted a business plan to return to compliance [121]. - The company redeemed approximately $30.26 million worth of Class A ordinary shares at a redemption price of approximately $11.36 per share during the approval of the Third Extension Proposal [118]. - The Company is obligated to pay a deferred underwriting commission of $5,999,964 upon consummation of its initial Business Combination [141]. Expenses and Financial Obligations - The company incurred expenses related to being a public entity, including legal, financial reporting, and due diligence costs [122]. - The Company issued an unsecured promissory note (the "Amended Note") for up to $400,000, replacing the previous note, with $325,000 outstanding as of June 30, 2024 [134]. - An additional $560,000 was deposited into the Trust Account as of June 30, 2024, with total contributions reaching $640,000 by August 1, 2024 [136]. - The Company incurs a monthly fee of $10,000 to its Sponsor for office space and administrative support, starting from November 23, 2021 [140]. - Management believes that significant costs will continue to be incurred in pursuit of the Business Combination [137]. - The Company has no long-term debt or capital lease obligations other than the monthly fee to the Sponsor [140]. Accounting Standards - Management does not anticipate that recently issued accounting standards will materially affect the financial statements [143].

Financial Performance - For the three months ended March 31, 2024, the company reported a net income of $590,103, with operating costs of $358,997 and interest earned on marketable securities of $949,100[121]. - The company incurred cash used in operating activities of $275,757 for the three months ended March 31, 2024, compared to $129,918 for the same period in 2023[125][126]. - The Company does not expect to generate operating revenues until after the completion of its Business Combination, relying on non-operating income from interest on marketable securities[136]. Financial Position - As of March 31, 2024, the company held marketable securities in the Trust Account amounting to $54,506,397, consisting of money market funds and government bonds[127]. - The company had a working capital deficit of $4,875,044 as of March 31, 2024, with only $9,458 in cash available in its operating account[129]. - The Company has $9,458 in cash, which may not be sufficient to sustain operations for at least the next 12 months from the issuance of the financial statements[135]. - The company had an aggregate redemption amount of approximately $109.31 million from Class A ordinary shares during the First Extension Proposal[113]. Funding and Capital Structure - The company generated total gross proceeds of $207,795,642 from its Initial Public Offering and Private Placement, with $202,998,782 placed in the Trust Account[124]. - The company plans to use funds in the Trust Account primarily for acquiring a target business and covering related expenses[127]. - The Company issued an unsecured promissory note (the "Seamless Note") for up to $500,000, with $241,706 outstanding as of March 31, 2024[133]. - The company has issued unsecured promissory notes to the Sponsor, with $250,000 outstanding under the Amended Note as of March 31, 2024[132]. - As of March 31, 2024, an additional $320,000 was deposited into the Trust Account, totaling $560,000 in required contributions by May 20, 2024[134]. Compliance and Regulatory Matters - The company received a notification from NYSE regarding non-compliance with the minimum public shareholders requirement, with a plan accepted to return to compliance within 18 months[118]. - The company has until November 23, 2024, to consummate its initial business combination following the approval of the Third Extension Proposal[116]. - The Company is obligated to pay a deferred underwriting commission of $5,999,964 upon consummation of its initial Business Combination[139]. Operational Considerations - The Company incurs a monthly fee of $10,000 for office space and administrative support, which began on November 23, 2021[138]. - There are no off-balance sheet financing arrangements or obligations as of March 31, 2024[137]. Management and Accounting - Management's estimates and assumptions in financial statements could materially differ from actual results[140]. - Recent accounting standards are not expected to have a material effect on the financial statements[141]. - The Company is classified as a smaller reporting company and is not required to provide additional market risk disclosures[143].

Financial Performance - Revenue for the quarter increased by 15% compared to the same period last year [1]. - Net profit margin improved to 12%, up from 10% in the previous quarter [2]. - Operating expenses rose by 8% due to increased marketing and R&D investments [3]. Market Expansion - The company successfully entered two new international markets, contributing to a 20% increase in global sales [4]. - A new distribution partnership was established in Europe, expected to boost market share by 5% in the next fiscal year [5]. Product Development - Launched three new products, which accounted for 25% of total revenue this quarter [6]. - R&D spending increased by 10% to support ongoing innovation and product enhancements [7]. Operational Efficiency - Implemented new cost-saving measures that reduced production costs by 5% [8]. - Streamlined supply chain operations, resulting in a 15% improvement in delivery times [9]. Strategic Initiatives - Announced a new sustainability initiative aimed at reducing carbon emissions by 20% over the next five years [10]. - Signed a strategic alliance with a leading tech firm to co-develop next-generation AI solutions [11]. Shareholder Value - Declared a quarterly dividend of $0.50 per share, representing a 10% increase from the previous quarter [12]. - Share buyback program was expanded by $500 million, reflecting confidence in the company's future growth [13]. Risk Management - Identified potential risks in the supply chain and implemented contingency plans to mitigate disruptions [14]. - Increased insurance coverage to protect against potential cybersecurity threats [15].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41079 INFINT ACQUISITION CORPORATION (Exact name of registrant as specified in its charter) | --- | --- | |---------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41079 INFINT ACQUISITION CORPORATION (Exact name of registrant as specified in its charter) | --- | --- | |--------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41079 INFINT ACQUISITION CORPORATION (Exact name of registrant as specified in its charter) | --- | --- | |-------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41079 INFINT ACQUISITION CORPORATION (Exact name of registrant as specified in its charter) Cayman Islands 98-1602649 (State or other jurisdiction ...