Financial Data and Key Metrics Changes - The total processing value (TPV) for the digital remittance business reached 4.54 billion in 2023 [10][15] - Total revenues excluding TNG Asia and GEA were 38.8 million, largely attributed to a 18.2 million, a 6.4% increase from 2023 [15][18] - The global airtime transfer revenue was 28.9 million in 2024, an 8% decline from 2023 [25] Market Data and Key Metrics Changes - Strong demand was noted in key corridors such as the UK, Hong Kong, Singapore, and Korea, contributing to the growth in remittance transactions [11] - The airtime transfer segment faced declining demand due to increased availability of free Wi-Fi in Southeast Asia, particularly in Malaysia and Indonesia [21][22] Company Strategy and Development Direction - The company is focusing on enhancing its AI-driven solutions to improve operational efficiency and customer experience while maintaining its core mission of serving financial institutions [9][39] - A strategic shift is underway to prioritize the digital remittance business and AI solutions over the airtime transfer business, which has lower growth potential and profitability [24][39] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the robust demand for digital remittance services and the potential synergies from AI initiatives, particularly in regions like the Middle East and Africa [39][40] - The company aims to maintain profitability while growing remittance revenue by at least 12.5% in the coming year, without further sacrificing the take rate [66] Other Important Information - The company recognized a significant increase in operating expenses due to non-cash items related to incentive shares granted to employees, totaling 26.5 million, but isolating Triangle and Watercool showed a profit of $2.05 million [33] Q&A Session Summary Question: Expectations for the partnership with CONCOF and revenue timeline - Management expects to establish a clear revenue stream from CONCOF in the second half of 2025, with additional clients anticipated by the end of the year or early next year [53] Question: Details on the 500-megawatt AI data center partnership - The company is collaborating with a renowned operator for the AI data center, focusing on sourcing land and government support in Malaysia, with potential for high returns [61] Question: Margin trajectory and tech stack improvements - The company plans to stabilize the take rate and grow remittance revenue without further sacrificing margins, while also selecting more competitive payout agents to maintain profitability [66]
Currenc Group Inc.(CURR) - 2024 Q4 - Earnings Call Transcript