Tue, May 20, 9:17 PM (34 days ago)
**Currenc Group Inc. (CURR) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** $10.1 million (down 23% YoY from $13.1 million). - **Profit Margins:** Gross profit of $3.2 million (down 27% YoY from $4.4 million). - **Net Loss:** $4.5 million (up 74% YoY from $2.6 million). - **Cash Flow:** Net cash used in operating activities was $1.5 million, with a total cash balance of $62.3 million. **Key Metrics:** - **Earnings Changes:** EBITDA loss of $2.8 million (vs. $0.2 million loss in Q1 2024). - **Segment Performance:** Remittance revenue (excluding divested entities) decreased by 8% YoY. Global airtime revenue declined by 23% YoY. Indonesian airtime revenue decreased by 8% YoY. **Trends & Uncertainties:** - **Market Conditions:** Continued decline in global airtime business due to increased Wi-Fi availability. - **Operational Impact:** Divestment of TNG Asia and GEA in Q3 2024 impacted revenue and operational metrics. - **Future Operations:** Focus on expanding B2C markets, particularly in the Middle East, and developing AI products and services. **Legal & Financial Risks:** - **Legal Proceedings:** Ongoing legal disputes with Ripple Markets APAC Pte. Ltd. and D Boral Capital LLC. - **Going Concern:** Substantial doubt about the company's ability to continue as a going concern due to working capital deficit and net capital deficit. **Strategic Initiatives:** - **AI Development:** Launch of new AI products and services for financial institutions. - **Expansion:** Plans to expand into new markets and acquire strategic businesses to enhance user base and revenue. **Financial Position:** - **Liabilities:** Total liabilities of $154.7 million, with significant borrowings and convertible bonds. - **Shareholders' Deficit:** $68.4 million, reflecting accumulated losses and other comprehensive losses. **Conclusion:** Currenc Group Inc. faced significant challenges in Q1 2025, including revenue declines and increased losses. The company is focusing on strategic initiatives to expand its market reach and develop new AI products to drive future growth. However, ongoing legal issues and financial uncertainties pose risks to its operational continuity.