Core Viewpoint - Currenc Group Inc. reported a decline in financial performance for the first quarter of 2025, with total revenue decreasing by 11.5% year-over-year, primarily due to a significant drop in global airtime revenue and remittance revenue from the Hong Kong market. The company is focusing on AI initiatives and reallocating resources to enhance higher-margin growth opportunities [1][5][12]. Financial Performance Summary - Total revenue for Q1 2025 was $10.0 million, down from $11.34 million in Q1 2024, reflecting an 11.5% decrease [3][5]. - Remittance revenue, excluding TNG Asia and GEA, was $4.6 million, an 8% decline year-over-year [6]. - Global airtime revenue fell to $2.0 million, representing a 23.1% decrease compared to the previous year [6]. - Total processing value (TPV) through Tranglo was $1.30 billion, a decrease of 3.7% year-over-year [5]. - Operating expenses increased to $7.5 million from $5.8 million in Q1 2024, largely due to a one-time share-based incentive expense of $2.2 million [6][10]. Operational Insights - The decline in TPV and revenues was attributed to reduced business volume from the Hong Kong market and increased competition in the digital remittance space [5][12]. - The company’s gross profit margin ratio for Q1 2025 was 31.8%, down from 33.6% in Q1 2024 [6]. - The overall net loss for Q1 2025 was $4.5 million, primarily driven by losses from headquarters and adjustments [11][20]. Strategic Focus - Management emphasized the importance of scaling AI product offerings and expanding remittance services into major corridors to drive higher-margin growth [12]. - The company plans to deemphasize airtime transfer services and redirect resources towards AI initiatives [6][12]. - Currenc aims to maintain a healthy take rate for Tranglo while navigating a competitive environment [12]. EBITDA Analysis - The total EBITDA for Q1 2025 was a loss of $2.8 million, with Tranglo and WalletKu achieving a combined EBITDA of $1.2 million [10][25]. - The EBITDA loss was influenced by increased operating expenses and the impact of the de-SPAC merger [10][12]. Market Position - Currenc Group Inc. is positioned as a fintech pioneer, focusing on AI solutions to enhance financial services globally [15]. - The company’s digital remittance platform aims to improve financial access across underserved communities [15].

Core Insights - CURRENC Group Inc. reported its financial results for the full year ended December 31, 2024, highlighting a strategic transformation towards AI-driven solutions in the fintech sector [1][2]. Financial Performance - Total revenue excluding TNG Asia and GEA for 2024 was $42.0 million, a decrease of 3.4% from $43.5 million in 2023, primarily due to a 23.8% decline in global airtime revenue [4][5]. - Remittance revenue excluding TNG Asia and GEA was $18.2 million, reflecting a year-over-year increase of 6.4% [6]. - Global airtime transfer revenues decreased to $9.3 million in 2024 from $12.2 million in 2023, a decline of 23.8% [6]. - Total Processing Value (TPV) through Tranglo was $5.14 billion, an increase of 13.2% year-over-year, with the total number of transactions rising to 11.4 million [5][6]. Cost Structure - Total direct costs of revenue excluding TNG Asia and GEA were $28.9 million for 2024, down 8% from $31.4 million in 2023 [7]. - Operating expenses increased significantly to $42.0 million in 2024 from $24.0 million in 2023, largely due to $20.9 million in incentive shares granted upon the completion of the INFINT SPAC merger [10][14]. Net Income and Loss - The net loss for the full year 2024 was $38.8 million, primarily driven by a $36.2 million loss from headquarters and adjustments, alongside losses from TNG Asia and GEA [9][14]. - The overall gross profit margin for 2024 was 31%, compared to 28% in 2023, with the gross profit margin for the remittance business at 62% [10]. Strategic Initiatives - CURRENC launched several AI-driven initiatives, including SEAMLESS AI Call Centre Solutions and AI Staff for Hire, aimed at enhancing operational efficiency for financial institutions [5][13]. - The company plans to develop a 500MW hyperscale AI data center in Malaysia, with Phase 1 expected to be completed by the end of 2026 [17]. - A $100 million AI-Focused Infrastructure & Investment Fund was established in partnership with ARC Group to support AI computing power and infrastructure projects [18]. Management Commentary - Management emphasized the importance of AI initiatives in driving future growth and cross-selling opportunities, positioning CURRENC as a leader in AI-powered fintech solutions [13][15].

Core Insights - CURRENC Group Inc. has appointed Mr. Wan Lung Eng as Chief Financial Officer, effective April 16, 2025, to enhance its financial strategy and growth initiatives [1][2][3] Company Overview - CURRENC Group Inc. is a fintech pioneer focused on transforming global financial services through artificial intelligence (AI) solutions, empowering financial institutions worldwide [4] - The company offers comprehensive AI solutions, including SEAMLESS AI Call Centre and other AI-powered agents, aimed at reducing costs, increasing efficiency, and boosting customer satisfaction for various sectors [4] Leadership and Expertise - Mr. Eng brings over 20 years of experience in finance, accounting, investment banking, and private equity, having executed public and private financings and M&A transactions exceeding US$50 billion [2] - His previous roles include CFO positions at VitalCheck Wellness, Teclison, and Spectral MD, as well as senior positions at major financial institutions [2] - The leadership team believes Mr. Eng's expertise will be pivotal in accelerating CURRENC's growth and advancing its AI initiatives [3]

Core Viewpoint - CURRENC Group Inc. has regained compliance with Nasdaq's minimum market value requirement, ensuring its continued listing on the Nasdaq Global Market [1][2]. Company Overview - CURRENC Group Inc. is a fintech pioneer focused on transforming global financial services through artificial intelligence (AI) solutions [2]. - The company provides comprehensive AI solutions to financial institutions, including SEAMLESS AI Call Centre and other AI-powered agents aimed at reducing costs and enhancing customer satisfaction [2]. - CURRENC's digital remittance platform facilitates real-time global payment services, promoting financial access for underserved communities [2]. Compliance Achievement - On April 9, 2025, CURRENC received confirmation from Nasdaq that its ordinary shares maintained a minimum market value of publicly held shares of $5,000,000 for at least ten consecutive business days, thus satisfying the listing requirement [1]. - The company expressed satisfaction with this compliance, highlighting its importance for credibility and exposure in capital markets [2].

SINGAPORE, April 10, 2025 (GLOBE NEWSWIRE) -- CURRENC Group Inc. (Nasdaq: CURR) (“CURRENC” or the “Company”), a fintech pioneer empowering financial institutions worldwide with artificial intelligence (AI) solutions, today announced that on April 9, 2025, it received written notice from Nasdaq stating that the Listing Qualifications Staff of the Nasdaq Stock Market LLC (“Nasdaq”) has determined that for at least the last ten consecutive business days, the Company’s ordinary shares have maintained a minimum ...