{"id":842500,"date":"2025-04-28T08:36:33","date_gmt":"2025-04-28T12:36:33","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/amber-international-holding-limited-reports-2024-full-year-unaudited-financial-results-and-highlights-strategic-developments\/"},"modified":"2025-04-28T08:36:33","modified_gmt":"2025-04-28T12:36:33","slug":"amber-international-holding-limited-reports-2024-full-year-unaudited-financial-results-and-highlights-strategic-developments","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/amber-international-holding-limited-reports-2024-full-year-unaudited-financial-results-and-highlights-strategic-developments\/","title":{"rendered":"Amber International Holding Limited Reports 2024 Full Year Unaudited Financial Results and Highlights Strategic Developments"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n
\n SINGAPORE<\/span>
\n <\/span>, April 28, 2025<\/span><\/span> \/PRNewswire\/ —\u00a0Amber International Holding Limited (Nasdaq: AMBR) (“Amber International”,\u00a0 “we,” “us,” or the “Company”), a leading provider of institutional crypto<\/span> financial services and solutions and operating under the brand name “Amber Premium”, today announced unaudited financial results for the year ended December 31, 2024<\/span>.<\/p>\n

\n

\n
\n \"(PRNewsfoto\/Amber
\n <\/a>\n <\/p>\n<\/p><\/div>\n

On March 12, 2025<\/span>, the Company completed its previously announced merger with Amber DWM Holding Limited (“Amber DWM”), the digital wealth management business of Amber Group. The transaction was carried out via a merger between Amber DWM and Overlord Merger Sub Ltd., a wholly owned subsidiary of the Company. As part of this transaction, Amber DWM became a wholly owned subsidiary of the Company. The merger followed the signing of a definitive agreement on November 29, 2024<\/span>, which was subsequently amended through a waiver and framework agreement dated March 12, 2025<\/span>.<\/p>\n

In connection with the merger, the Company changed its name from iClick Interactive Asia Group Limited to Amber International Holding Limited. The Company’s American Depositary Shares (“ADSs”) began trading on the Nasdaq under the new ticker symbol “AMBR” on March 13, 2025<\/span>.<\/p>\n

“This listing represents a major milestone for Amber International, providing us with a robust capital markets platform to scale our institutional crypto<\/span> financial services and solutions globally,” said\u00a0Wayne Huo, CEO and Director of Amber International. “The legacy of iClick as a public company provided a strong foundation of governance and transparency, enabling a seamless transition to a listed crypto<\/span> financial firm.”<\/p>\n

“As a public company headquartered in Singapore<\/span>, Amber International is focused on building a secure, efficient, and compliant ecosystem for institutional investors and high-net-worth individuals to thrive in digital asset markets,” he continued. “With a deep product pipeline and strong client momentum, we are poised to support the full lifecycle of institutional crypto<\/span> engagement.”<\/p>\n

\n Financial Highlights for the Year Ended December 31, 2024<\/span><\/b>\n <\/p>\n

The financial results discussed below reflect the Company’s legacy operations in marketing solutions and enterprise solutions in Asia<\/span> and do not include the performance of Amber DWM Holding Limited, which merged with the Company post year-end.<\/p>\n

Prior to the merger, the Company completed the disposal of two businesses in mainland China<\/span>: the enterprise solutions business on September 23, 2024<\/span>, and the demand-side marketing solutions business on November 27, 2024<\/span>. As a result, these businesses were deconsolidated from the Company’s financial statements, and their results are reflected as discontinued operations in the consolidated financial statements in accordance with applicable accounting standards.\u00a0Historical financial results are adjusted for comparative purposes.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n Year Ended December 31,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 2024<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2023<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Percentage<\/b>
\n
\n change<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n (US$ in thousands, except per share data)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Financial Metrics:<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Revenue from continuing operations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n Marketing Solutions<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 23,528<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 27,036<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (13)\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Enterprise Solutions<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9,278<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 9,015<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Total revenue from continuing operations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 32,806<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 36,051<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (9)\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Gross profit from continuing operations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 16,747<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 19,081<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (12)\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net loss from continuing operations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (24,006)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (13,683)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net loss from discontinued operations<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (5,104)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (25,187)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Diluted net loss from continuing operations per American Depositary
\u00a0 Shares (“ADS”)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (2.61)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (1.33)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n N\/M<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\n Full Year of 2024 Results:<\/b>\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

\n Revenue<\/b>\u00a0in 2024 was US$32.8 million<\/span>, compared with US$36.1 million<\/span> for the full year of 2023. Revenue from Marketing Solutions declined by US$3.5 million<\/span> to US$23.5 million<\/span> in 2024, compared with US$27.0 million<\/span> for 2023, which\u00a0\u00a0\u00a0\u00a0 \u00a0was resulted from clients’ tightened budget on advertising due to uncertainty in the macro-economic environment. Revenue from Enterprise Solutions was US$9.3 million<\/span> in 2024, improved from US$9.0 million<\/span> in 2023 due to the increasing demand for digital transformation and services.<\/p>\n

\n Gross profit<\/b>\u00a0in 2024 was US$16.7 million<\/span>, compared with US$19.1 million<\/span> in 2023. Gross profit margin was relatively stable at 51.0% for 2024, compared with 52.9% for 2023.<\/p>\n

\n Total operating expenses<\/b>\u00a0were US$34.1 million<\/span> in 2024, increased from US$30.7 million<\/span> in 2023. The change was primarily due to non-recurring consultancy, legal and other professional service fees for our restructuring and merger preparation in 2024, \u00a0\u00a0\u00a0\u00a0\u00a0partially offset by (i) our tighter cost controls, which resulted in reduction of staff cost and savings on promotional expenses, and (ii) the decline in\u00a0\u00a0\u00a0\u00a0 \u00a0impairment of long-lived assets in 2024.<\/p>\n

\n Other losses, net,<\/b>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0were\u00a0\u00a0\u00a0\u00a0 \u00a0US$7.2\u00a0\u00a0\u00a0\u00a0 \u00a0million\u00a0in 2024, \u00a0\u00a0\u00a0\u00a0\u00a0increased from US$2.3 million<\/span> in 2023. It was mainly \u00a0\u00a0\u00a0\u00a0\u00a0due to the increase of impairment loss on our long-term investments, non-recurring losses on restructuring, and exchange loss in 2024, \u00a0\u00a0\u00a0\u00a0\u00a0partially offset by the gain from the disposal of discontinued operations.<\/p>\n

\n Net loss from continuing operations <\/b>was US$\u00a0\u00a0\u00a0\u00a0 24.\u00a0\u00a0\u00a0\u00a0 0 million in 2024, compared with the net loss of US$13.7 million<\/span> in 2023, as a result of the foregoing.<\/p>\n

\n Net loss from continuing operations attributable to the Company’s shareholders per basic and diluted ADS<\/b>\u00a0in 2024 was US$\u00a0\u00a0\u00a0\u00a0 2.\u00a0\u00a0\u00a0\u00a0 61, compared with a net loss attributable to the Company’s shareholders per basic and diluted ADS of US$1.33<\/span> in 2023.<\/p>\n

\n Net loss from discontinued operations <\/b>was US$5.1 million<\/span> in 2024, compared with the net loss of US$25.2 million<\/span> in 2023. The change was mainly because the financial results of loss-making discontinued operations were deconsolidated \u00a0\u00a0\u00a0\u00a0\u00a0after\u00a0the D\u00a0\u00a0\u00a0\u00a0 isposals \u00a0\u00a0\u00a0\u00a0\u00a0, and the gain on disposal of discontinued operations amounting to US$2.6 million<\/span> in 2024.<\/p>\n

As of December 31, 2024<\/span>, \u00a0\u00a0\u00a0\u00a0\u00a0the Company (with continuing operations)\u00a0had cash and cash equivalents, time deposits and restricted cash of US$19.6 million<\/span>, compared with US$41.3 million<\/span> as of December 31, 2023<\/span>. The Company repaid bank borrowing, net of US$35.0 million<\/span> for the restructuring in 2024.\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

\n Recent Developments and Strategic Updates<\/b>\n <\/p>\n

Following the completion of the merger in March 2025<\/span>, Amber International is executing a focused strategy to strengthen its leadership in institutional crypto<\/span> finance.<\/p>\n

The Company is enhancing its compliance-first, scalable platform to better serve the evolving needs of institutions and high-net-worth individuals globally. Strategic priorities for 2025 include continued expansion into the tokenization of real-world assets (RWA), enhancement of its institutional-grade product suite, and the rollout of a refined go-to-market strategy across core financial hubs. These efforts are supported by a broadened geographic footprint, with a particular focus on regulated markets in Asia<\/span> and the Middle East<\/span>.<\/p>\n

As previously announced, Sparrow Tech Private Limited (Sparrow), a Major Payment Institution (MPI) licensed under the Payment Services Act by the Monetary Authority of Singapore<\/span>, has recently integrated into Amber International Holding Limited following the approval from the Monetary Authority of Singapore<\/span>, a milestone in executing our strategic priorities. Effective April 30, 2025<\/span>, Sparrow will operate under the new brand name Amber Premium Singapore, further reinforcing the Company’s regulated presence in Asia<\/span>.<\/p>\n

\n These developments mark the beginning of a new chapter for the Company as it expands its institutional digital asset business under the Amber Premium brand.<\/b>\n <\/p>\n

\n Amber DWM Financial Snapshot<\/b>\n <\/p>\n

In addition, the following summarized the financial figures of Amber DWM for the first half of 2024, second half of 2024 and full year of 2024.<\/p>\n

\n\n\n\n\n\n
\n

\n
\n (US$ in thousands)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n Six-month
period ended
June 30, 2024\u00a0<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Six-month
period ended
December 31,
2024<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n Year ended
December 31,
2024<\/i>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Revenue<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 19,021<\/span>\n <\/p>\n<\/td>\n

\n

\n 23,411<\/span>\n <\/p>\n<\/td>\n

\n

\n 42,432<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Gross profit<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 12,003<\/span>\n <\/p>\n<\/td>\n

\n

\n 14,641<\/span>\n <\/p>\n<\/td>\n

\n

\n 26,644<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating profit<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,058<\/span>\n <\/p>\n<\/td>\n

\n

\n 4,077<\/span>\n <\/p>\n<\/td>\n

\n

\n 5,135<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

“We are glad to announce that our Board of Directors has\u00a0approved a US$10 million<\/span>crypto<\/span> reserve plan signalling our strategic commitment to digital assets,” said Josephine Ngai<\/span>, CFO of Amber International. “With surplus capital available, we view crypto<\/span> holdings as an effective way to strengthen our balance sheet. This US$10 million<\/span> allocation serves as a prudent trial and we plan to diligently roll out this initiative in coming quarters to support our growth and long-term value creation in the evolving crypto<\/span> sector.”<\/p>\n

\n Outlook<\/b>\n <\/p>\n

\n Based on the information available as of the date of this press release, the Company provides the following outlook for Amber Premium only in the first quarter of 2025: <\/span>\n <\/p>\n

First Quarter 2025:<\/p>\n