Amber International Holding Ltd Q4 FY2024 earnings call

• Amber International is an institutional crypto financial services provider, having completed a merger with iClick in March 2025 and listing on NASDAQ. - Business segments include full-stack execution, wealth management (structured products, yield solutions), strategic funds, collateralized lending, and crypto payment solutions. - Strategic initiatives: Technology development with proprietary platforms, security measures, expansion into real-world asset tokenization, refined go-to-market strategy, and regulatory/operational excellence with presence in global financial hubs.

For the legacy business in 2024, total revenue from continuing operations was $32.8 million, a 9% decrease from 2023. Marketing Solutions revenue decreased 13% to $23.5 million, while Enterprise Solutions revenue increased 3% to $9.3 million. Gross profit was $16.7 million in 2024 (51% margin), compared to $19.1 million in 2023 (52.9% margin). For Amber DWM, full year 2024 revenue was $42 million, gross profit was $26 million, and operating profit was $5.1 million.

• 2025 priorities include expanding into real-world asset tokenization, enhancing institutional-grade product suite, and refining go-to-market strategy in core financial hubs. - Authorized a $10 million crypto reserve as part of treasury management to support growth and maintain liquidity. - Focus on optimizing capital structure, disciplined cost management, enhancing financial reporting, and maintaining strong liquidity for strategic opportunities.

• Market volatility in the digital asset space. - Regulatory complexity affecting institutional adoption. - Competition in various business segments. - Operational risks related to digital asset security and management.

Q: Share what the three largest revenue sources are and their percentage of total revenue for Amber Group in 2024.

A: The three main revenue segments are execution solutions (20%-30% of total revenue mix), wealth management products, and payment solutions.

Q: What changes when the platform gets a Dubai license and does it make attracting customers easier?

A: Getting a Dubai license would allow tapping into local client segments and institutions in the Middle East, expanding the client base and shifting strategic focus to the region.

Q: Describe the competitive landscape in key markets like Dubai, Hong Kong, and Singapore.

A: The business model is unique, combining multiple segments. While there are competitors in each segment, the listing status provides transparency and better governance, setting it apart.

Q: How is the business differentiated from larger platforms in North America?

A: Focuses on institutions and high net worth individuals, not retail-driven. Retail platforms are more speculative, while this business targets long-term asset allocation and institutional needs.