SINGAPORE — December 1, 2025 — Leads & Copy — Currenc Group Inc. (Nasdaq: CURR) announced its financial results for the six months ended June 30, 2025, with a total processing value (TPV) through Tranglo reaching US$2.8 billion, a 5.8% year-over-year decrease.
The total number of transactions saw a slight decrease of 0.1%, with 5.84 million in the first half of 2025 compared to 5.85 million in the same period of 2024. When calculated in local currency, TPV decreased by 8.8% in Q1 2025 and 2.8% in Q2 2025.
Total revenues, excluding TNG Asia and GEA, amounted to US$18.8 million for the first half of 2025, a 10.8% year-over-year decrease. This decline is primarily attributed to a 19% decrease in global airtime revenue and a 21% decrease in Indonesian Airtime revenue.
Remittance revenues from Tranglo totaled US$9.8 million, a 0.3% decrease year-over-year, mainly due to lower contributions from the Hong Kong market after TNG Asia and GEA exited the remittance business at the end of 2024. Tranglo’s overall take rate remained steady at 0.36%.
Global airtime transfer revenues were US$4.0 million, a 19.0% year-over-year decrease, attributed to the increased availability of free Wi-Fi in Southeast Asian countries. Management plans to shift resources from airtime transfer to new AI product offerings in response to this trend.
Total direct costs of revenue were US$12.3 million, a 22.5% year-over-year decrease. Tranglo’s direct payout rate for its remittance business was 0.13%, slightly up from 0.11% in 2024. Currenc’s overall gross profit margin ratio was 34.3%, compared to 34.0% in the same period of 2024.
Total operating expenses increased to US$15.1 million, up from US$11.0 million in 2024, primarily due to US$4.3 million in expenses related to incentive shares granted to employees after the INFINT SPAC merger.
Operating costs reflect those of Tranglo, WalletKu, and the Company’s headquarters, as TNG Asia and GEA were divested in August and July 2024, respectively. Operating costs related to new AI initiatives amounted to US$1.5 million.
Tranglo’s operating costs were US$5.8 million, an 8.05% increase from US$5.4 million in 2024. WalletKu’s operating costs were US$0.3 million, down from US$0.6 million in 2024. Professional and director fees totaled US$2.1 million for the first half of 2025.
The net loss for the first half of 2025 was US$9.5 million, driven by a US$10.8 million net loss incurred by headquarters and adjustments. The Company’s total EBITDA for the first half of 2025 was a loss of US$6.2 million, while Tranglo and WalletKu’s combined EBITDA was US$1.7 million.
Headquarters expenses and adjustments recorded an EBIT loss of US$9.0 million, including US$4.3 million in incentive share expenses, US$1.5 million for AI project development, and US$2.1 million for professional fees.
Alex Kong, Founder and Executive Chairman of Currenc, stated that while global demand for digital remittance grows, competition has intensified. He also noted the strategic shift toward AI initiatives.
Wan Lung Eng, Chief Financial Officer, mentioned the solid performance in the remittance business offsetting the decline in airtime revenues, with a stable gross margin of 34.3% and a healthy payout rate of 0.13% for Tranglo. He also stated that the company is looking to streamline its cost structure, capitalize on its remittance strengths, and scale AI-driven growth to boost its profitability and shareholder value.
To supplement the Company’s consolidated financial statements, which are prepared and presented in accordance with GAAP, it uses EBITDA, a non-GAAP financial measure as described below, to understand and evaluate its core operating performance.
Currenc believes that EBITDA provides useful information to investors and others in understanding and evaluating its operating results. This non-GAAP financial measure eliminates the impact of items that Currenc does not consider indicative of the performance of its business.
EBITDA is defined as net loss before interest, taxes, depreciation, and amortization. Currenc believes that EBITDA provides useful information to investors and others in understanding and evaluating its operating results.
For additional information, please refer to the Currenc website and the annual report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission.
Currenc Group Investor Relations
Email: investors@currencgroup.com
Source: Currenc Group Inc.
