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Dec 31, 2024
InFinT Q4 2024 Earnings Report
CURRENC reported a larger-than-expected net loss in Q4 2024 while revenues beat expectations, driven by Tranglo's remittance growth and the company’s aggressive pivot toward AI.
Key Takeaways
CURRENC posted a Q4 net loss of $38.8M and EPS of -$0.70. Despite the loss, revenue reached $11.06M, surpassing expectations. Strategic investments in AI were the key focus this quarter.
Q4 revenue of $11.06M exceeded analyst expectations by $1.26M.
EPS came in at -$0.70, missing estimates by $0.65.
The net loss was largely due to non-cash expenses related to the SPAC merger and goodwill impairments.
CURRENC launched major AI initiatives including a 500MW data center and SEAMLESS AI platform to drive future growth.
InFinT
InFinT
Forward Guidance
CURRENC expects AI initiatives to drive new revenue growth in 2025 while legacy airtime business is deprioritized. Remittance business remains a core contributor.
Positive Outlook
- AI Staff for Hire and SEAMLESS AI expected to bring in new clients and revenue streams.
- Planned 500MW hyperscale AI data center in Malaysia to position CURRENC as AI infrastructure leader.
- Establishment of $100M CURR-ARC AI Fund to support fintech and infrastructure expansion.
- Remittance TPV continues to grow, showing business resilience.
- Divestiture of underperforming assets (TNG Asia, GEA) to streamline operations.
Challenges Ahead
- Significant Q4 net loss driven by one-time SPAC-related non-cash expenses.
- Global airtime revenue fell sharply due to market decline in Southeast Asia.
- Gross margins remain under pressure in non-remittance segments.
- Still reliant on competitive remittance market with declining take rate.
- High operating costs from AI ramp-up may pressure margins in near term.