Amber International Holding Limited Unveils 2024 Financial Results and Strategic Growth Initiatives
Amber International Holding Limited Unveils 2024 Financial Results and Strategic Growth Initiatives
Amber International Holding Limited, trading on Nasdaq under the ticker symbol AMBR, has recently disclosed its unaudited financial outcomes for the year ending December 31, 2024. The company also detailed significant strategic movements, particularly following its merge with Amber DWM Holding Limited, which has evolved its operational focus towards institutional crypto financial services under the brand "Amber Premium".
Recent Developments: The Merger
As of March 12, 2025, Amber International completed its previously announced merger with Amber DWM, a major player in digital wealth management. This merger has not only transformed Amber DWM into a wholly-owned subsidiary but also prompted a rebranding of the company from iClick Interactive Asia Group Limited to Amber International Holding Limited. Following the merger, the American Depositary Shares (ADSs) of Amber International began trading on Nasdaq under a new symbol, AMBR, marking a significant milestone for the firm.
Wayne Huo, CEO of Amber International, emphasized that this transition signals a robust capital framework for expanding their crypto financial services on a global scale. Huo mentioned, "The legacy of iClick has laid a solid ground in governance and transparency, setting the stage for a smooth transition into a listed crypto financial entity."
2024 Financial Highlights
For the year ended December 31, 2024, the company reported a total revenue of $32.8 million, a decrease from $36.1 million in 2023. This decline was primarily attributed to revenue setbacks in Marketing Solutions, which dropped from $27.0 million to $23.5 million due to tightening advertising budgets amid economic uncertainties. The segment for Enterprise Solutions saw slight growth, increasing from $9.0 million to $9.3 million, driven by rising digital transformation needs.
The gross profit for 2024 was reported at $16.74 million, contrasted with $19.08 million in the previous year, despite maintaining a gross profit margin of approximately 51%. The overall operating expenses amounted to $34.1 million due to a variety of restructuring costs and legal fees related to the merger preparations, although cost controls implemented did benefit the bottom line slightly.
Amber International sustained a net loss from continuing operations of $24.0 million, widening from $13.7 million in 2023, attributed mostly to previous operating and restructuring costs exacerbated by increasing impairment losses. Despite these challenges, they managed to reduce losses from discontinued operations significantly, from $25.2 million in 2023 to $5.1 million in 2024, largely due to divestments of underperforming segments earlier in 2024.
Strategic Focus for 2025
With the merger's completion, Amber International is sharpening its focus on expanding institutional crypto finance. The firm aims to build a scalable platform with an emphasis on compliance to better cater to institutional investors and high-net-worth clients. Key strategies include expanding into the tokenization of real-world assets, enhancing their product offerings, and refining their market engagement strategies, particularly in regulated marketplaces across Asia and the Middle East.
In a noteworthy regulatory advancement, Amber International will integrate Sparrow Tech Private Limited, a Major Payment Institution licensed by the Monetary Authority of Singapore, into its operations. This strategic move aims to bolster Amber's regulatory presence within Asia and enhance service offerings under the Amber Premium brand.
Amber has also made a strategic commitment to digital assets by approving a $10 million crypto reserve plan, which signifies their dedication to growing their holdings in the evolving crypto sector. The CEO expressed confidence in leveraging this capital to enhance the company's balance sheet and support future growth.
Looking Ahead
For the initial quarter of 2025, Amber Premium anticipates revenue to be in the range of $12.5 million to $13.5 million, reflecting preliminary market conditions and operational insights.
In conclusion, Amber International Holding Limited is poised for significant growth in the digital asset management sector, underscored by recent strategic developments and a robust commitment to enhancing their service offerings for institutional clients. With a clear directive and an increasingly compliant operational structure, the company aims to navigate and thrive within the dynamic landscape of cryptocurrency finance.
This report illuminates Amber's dedication to transforming its financial landscape while ensuring strategic responsiveness to market demands, setting the stage for its anticipated future accomplishments in the rapidly evolving digital asset arena.
Topics Financial Services & Investing）
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