– Record-quarter with historical high revenue and gross profit, led by significant growth in Wealth Management Solutions –
SINGAPORE, Sept. 10, 2025 /PRNewswire/ — Amber International Holding Limited (NASDAQ:AMBR) (“Amber International”, “we,” “us,” or the “Company”), a leading provider of institutional crypto financial services and solutions operating under the brand name “Amber Premium,” today announced unaudited financial results for the second quarter ended June 30, 2025.
Michael Wu, Chairman of the Board and CEO of Amber International, commented, “We delivered solid overall performance in the second quarter of 2025 with total revenue reaching US$21.0 million, driven by robust growth in wealth management business achieving a record revenue at US$11.5 million, reflecting the success of our institutional-first strategy and demonstrate the scalability of our digital wealth management platform. Our leadership team has not only strengthened our foundation but has positioned us for accelerated, long-term growth as a leading digital wealth management platform in Asia.
Our technology-driven vision is a defining pillar of our strategy. By integrating our crypto-native infrastructure and advanced AI technologies, we are elevating personalization, efficiency, and scalability across all aspects of our business. Looking ahead, we are well-positioned to serve as a gateway for institutional digital asset adoption, broadening our RWA and AgentFi offerings, in collaboration with partners where appropriate, with the goal of delivering meaningful and long-term value for our clients, partners, and shareholders.”
Vicky Wang, President of Amber International, added, “Amber Premium has solidified its position as Asia’s trusted partner for sophisticated clients, serving a core segment of high-net-worth, ultra-high-net-worth individuals, and institutions where we’re seeing very strong momentum. Our unique ability to solve complex institutional challenges through a one-stop-shop offering and a private-banking-like experience is a key differentiator and direct driver of our performance. This is evidenced by a 14% quarter-over-quarter growth in new client onboarding in the second quarter of 2025 and a 20% quarter-over-quarter growth in client assets as of June 30, 2025. The premium nature of our model is further underscored by our solid gross profit, reflecting both the value we deliver to clients and the scalability of our platform. By focusing on the right client segment and building the right infrastructure, we’ve positioned ourselves to benefit from this fast-growing trend, giving us both strength today and confidence for tomorrow.”
Second Quarter and First Half 2025 Highlights
- Total Revenue: Reached US$21.0 million in the second quarter of 2025, mainly contributed by WFTL Assigned Contracts and robust growth in wealth management solutions and integration of revenue from Marketing and Enterprise Solutions following the Merger. It reached US$35.9 million in the first half of 2025.
- Wealth Management Solutions Revenue: Reached US$11.5 million in the second quarter of 2025, achieving multi-fold increase. It reached US$21.5 million in the first half of 2025.
- Gross Profit: Surged to US$15.0 million in the second quarter of 2025, and US$26.0 million in the first half 2025.
- Adjusted EBITDA: US$0.2 million in the second quarter of 2025, versus a US$1.0 million loss in the same period of 2024. It was US$1.8 million in the first half 2025, versus a US$1.8 million loss in the same period last year.
- Client Assets on Platform[1]: Increased to US$1,535.3 million as of June 30, 2025, up 35.7% from June 30, 2024.
- Cumulative KYC’ed Users[2]: Reached 4,911 as of June 30, 2025, up 20.8% from June 30, 2024.
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[1] Client Assets on Platform is defined as the total U.S. dollar equivalent value of client assets as of a specific date. |
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[2] Cumulative KYC’ed Users is defined as the total number of clients that completed the Company’s Know Your Customer identity verification as of a specific date. |
Business Developments and Strategic Updates
In the second quarter of 2025, Amber International demonstrated strong growth in overall performance, reaffirming its position as Asia’s leading digital wealth management platform serving high-net-worth, ultra-high-net-worth, family offices, and institutional clients.
Total revenue for the quarter reached US$21.0 million, with gross profit rising to US$15.0 million, driven primarily by robust expansion in wealth management solutions powered by continuous product innovation and end-to-end solutions. Our client base expanded significantly, with a 20.8% increase in cumulative KYC’ed users and a 35.7% growth in overall client assets compared to the second quarter of 2024, reinforcing deep client trust and engagement Amber Premium commands within Asia’s elite investor community.
Strategically, Amber International is advancing several core initiatives to drive sustainable, long-term growth:
- AMBR Tokenization & On-Chain Exposure:
Amber Premium is the first Asia-based public company whose stock is made available onchain via xStocks, enabling 24/7 global access and trading of tokenized AMBR shares alongside major global stocks, bridging traditional finance with DeFi and highlighting Amber’s leadership in crypto-native digital asset innovation. - Innovative Financial Products & Seamless Platform Evolution:
Focusing on the delivery of comprehensive structured product suites, enabling clients to optimize yield and manage risk exposure across market cycles. Concurrently, we are evolving a frictionless, AI-embedded platform to enhance client onboarding, product selection, and portfolio monitoring, catering to sophisticated clients and investors. - RWA Initiatives:
Our end-to-end solution brings together advisory, custody, and liquidity, positioning Amber Premium at the forefront of bridging traditional finance and DeFi. Building on the success of our stablecoin infrastructure, we are exploring opportunities to expand into tokenization of real-world assets. Over time, we aim to broaden the range of tokenized products, working alongside ecosystem partners where appropriate, to deliver a more unified portfolio experience for clients. - Crypto and AI Integration:
Leveraging cutting-edge AI technologies and intelligent agents like MIA across marketing, social engagement, and client support functions in assisting client acquisition and service quality, enabling our businesses and operations to scale efficiently and more consistently.
Second Quarter 2025 Financial Results Summary
On March 12, 2025, iClick Interactive Asia Group Limited (“iClick”) completed its previously announced Merger with Amber DWM Holding Limited (“Amber DWM”)[3]. The Merger is accounted for as a reverse acquisition for accounting purposes. Accordingly, the Merger is treated as the equivalent of Amber DWM issuing shares for the acquisition of iClick, accompanied by a recapitalization. The financial results of iClick have been included in the consolidated financial results since March 12, 2025.
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[3] In connection with the Merger, we entered into intercompany services agreements with certain wholly owned subsidiaries of our parent, Amber Group Limited. These agreements would afford us with substantially the same economic benefits as the transactions contemplated under the merger agreement signed in connection with the Merger, pending certain regulatory approvals for DWM Asset Restructuring contemplated under the merger agreement. This includes our entitlement to 100% of the consolidated net income generated from certain contracts associated with WhaleFin Technologies Limited (“WFTL”) (the “WFTL Assigned Contracts”) effective from January 1, 2025, and 100% consolidated net income of Sparrow Tech Private Limited (“Sparrow”) effective from March 12, 2025. Therefore, our results for the second quarter and the first half of 2025 have included the net income from WFTL Assigned Contracts and Sparrow, which was not reflected in our results for the corresponding periods in 2024. |
The following table sets forth the key financial metrics of the Company for the periods indicated.
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Three Months Ended June 30, |
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Percentage |
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(US$ in thousands, except per share data; unaudited) |
2025 |
2024 |
change |
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Financial Metrics: |
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Revenue |
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Wealth Management Solutions |
11,544 |
610 |
1,792.5 % |
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Execution Solutions |
2,010 |
24 |
8,275.0 % |
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Payment Solutions |
858 |
233 |
268.2 % |
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Sub-total of Amber Premium Business[4] |
14,412 |
867 |
1,562.3 % |
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Marketing and Enterprise Solutions |
6,551 |
— |
N/M |
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Total revenue |
20,963 |
867 |
2,317.9 % |
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Gross profit |
14,956 |
286 |
5,129.4 % |
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Operating loss |
(798) |
(1,570) |
N/M |
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Net income |
728 |
1,532 |
(52.5 %) |
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Diluted net income per American Depositary Shares (“ADS”) |
0.01 |
0.02 |
(50.0 %) |
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Adjusted EBITDA[5] |
172 |
(1,044) |
N/M |
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Adjusted net loss[5] |
(311) |
(1,070) |
N/M |
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Diluted adjusted net loss per ADS[5] |
(0.00) |
(0.02) |
N/M |
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[4] Amber Premium business comprises our Wealth Management Solutions, Execution Solutions, and Payment Solutions. |
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[5] For more details on these non-GAAP financial measures, please see the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release. |
Revenue for the second quarter of 2025 was US$21.0 million, a 2,317.9% increase year-over-year, contributed by the thriving growth of all revenue streams:
1) Revenue from Wealth Management Solutions was record high at US$11.5 million in the second quarter of 2025, increased significantly from US$0.6 million in the same period of 2024. It was achieved by higher client assets on our platform and stronger adoption of wealth management offerings, which were supported by the WFTL Assigned Contracts and increased demand on our diverse investment products and services.
2) Revenue from Execution Solutions grew to US$2.0 million in the second quarter of 2025, up from US$24.0 thousand in the same period of 2024. The growth was primarily driven by revenue generated from the WFTL Assigned Contracts, together with higher average fee rate and spread in this quarter.
3) Revenue from Payment Solutions was US$0.9 million in the second quarter of 2025, increased from US$0.2 million for the same period of 2024, mainly contributed by the WFTL Assigned Contracts.
4) Marketing and Enterprise Solutions revenue was US$6.6 million in the second quarter of 2025, generated from online marketing, SaaS products and services provided by iClick after the Merger.
Gross profit for the second quarter of 2025 reached US$15.0 million, compared to US$0.3 million in the same period of 2024. Gross profit margin demonstrated an upward trend to 71.3% in the second quarter of 2025, from 33.0% in the second quarter of 2024. The increase was mainly contributed by the WFTL Assigned Contracts, accelerated growth of Amber Premium business, and higher margin of marketing and enterprise solutions.
Total operating expenses were US$15.8 million in the second quarter of 2025, increased from US$1.9 million in the second quarter of 2024. The change was primarily due to the increase of technology and software services expenses, personnel expenses to support our ongoing business expansion, and legal and other professional service fees.
Operating loss was US$0.8 million in the second quarter of 2025, improved from US$1.6 million operating loss in the second quarter of 2024, as a result of our growth in gross profit and strengthened operating leverage.
Other gains, net were US$1.5 million in the second quarter of 2025, compared to US$3.0 million in the second quarter of 2024. Other gains, net in the second quarter of 2024 were mainly driven by unrealized gain in fair value of digital assets in connection with a related party’s loan, which was subsequently waived prior to the Merger.
Net income was US$0.7 million in the second quarter of 2025, compared to US$1.5 million in the second quarter of 2024, as a result of the foregoing.
Adjusted EBITDA and adjusted net loss were US$0.2 million and US$0.3 million, respectively for the second quarter of 2025, compared to adjusted EBITDA, a loss at US$1.0 million and adjusted net loss at US$1.1 million in the second quarter of 2024.
Balance Sheet Highlights
As of June 30, 2025, the Company had cash and cash equivalents, time deposits and restricted cash of US$25.8 million, compared to US$9.3 million as of December 31, 2024.
Second Quarter 2025 Operating Data
In addition to the measures presented in our consolidated financial statements, we use the operating metrics listed below to evaluate our business, measure our performance, identify trends and make strategic decisions:
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As of June 30, |
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Percentage |
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(US$ in thousands, unless specified) |
2025 |
2024 |
change |
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Operating Metrics[6]: |
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Cumulative KYC’ed users (in number) |
4,911 |
4,067 |
20.8 % |
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Active clients[7] (in number) |
967 |
944 |
2.4 % |
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Client assets on platform |
1,535,343 |
1,131,713 |
35.7 % |
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For the three months ended June 30, |
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Percentage |
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2025 |
2024 |
change |
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New onboarded KYC’ed users[8] (in number) |
254 |
240 |
5.8 % |
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Execution trading volume[9] |
1,918,758 |
2,422,586 |
(20.8 %) |
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Payment trading volume[10] |
347,762 |
326,227 |
6.6 % |
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[6] The operating metrics presented in this press release include operating data from Sparrow business and the WFTL Assigned Contracts. While the relevant entities were not consolidated subsidiaries of the Company throughout the relevant periods, their operating data have been included on a pro forma basis for illustrative purposes assuming the completion of DWM Asset Restructuring contemplated in the Merger. As of the date of this earnings release, other than the consolidation of Sparrow business following the relevant regulatory approval in April 2025, the DWM Asset Restructuring has not been completed. |
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[7] An active client is defined as a client who has conducted at least one transaction during any consecutive three months ended as of a specific date, or the assets under the client’s management were greater than US$10 thousand as of a specific date. |
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[8] New onboarded KYC’ed user is defined as the number of clients that completed the Company’s Know Your Customer onboarding procedures during the period. |
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[9] Execution trading volume is defined as the total U.S. dollar equivalent value of two-side spot matched trades transacted of crypto assets between a buyer and seller through the Company, and excluding the deposit or withdrawal of crypto assets during the period. |
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[10] Payment trading volume is defined as the total U.S. dollar equivalent value of one-side on/off-ramp through the Company during the period. |
Outlook
Based on the information available as of the date of this press release, the Company provides the following revenue outlook of Amber Premium business:
Third Quarter 2025:
- Revenue of Amber Premium business is estimated to be between US$11.0 million and US$12.5 million.
The above outlook is based on current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, expected foreign exchange fluctuation, and customer demand, which are all subject to change. Please also refer to the factors set out under the section titled “Safe Harbor Statement.”
Withdrawal of Full Year Outlook
Given the anticipated market volatility in the fourth quarter, the Company has decided to take a more prudent approach to the financial guidance. Accordingly, the Company withdrew its previously disclosed 2025 full-year revenue guidance.
Conference Call
The Company will host an earnings conference call at 8:00 AM U.S. Eastern Time on September 10, 2025 (8:00 PM Singapore time on September 10, …