# CURRENC Reports 2024 Financial Performance with Key Revenue Insights

Amounts in USD			Amounts in USD
			(Dollars in thousands)
Remittance revenue excluding TNG Asia & GEA			18,174			17,116
Global Airtime Revenue			9,336			12,188
Indonesian Airtime Revenue			14,505			14,211
Total Revenue excluding TNG Asia & GEA			42,015			43,515

• Total remittance revenues excluding TNG Asia and GEA, which is revenue derived from Tranglo, reached US$18.2 million for the full year 2024, a 6.4% increase from the previous year. Despite a decrease in Tranglo’s overall take rate from 0.43% in 2023 to 0.37% in 2024 due to strong competition, its total payment volume (TPV) rose by 13.2% to $5.14 billion, contributing to higher revenue. For 2024, On-Demand Liquidity (ODL) flows accounted for just 4.5% of Tranglo’s TPV.
• CURRENC’s global airtime transfer revenues totaled US$9.3 million for the year 2024, reflecting a 23.8% decline year-over-year. The increased access to free Wi-Fi across Southeast Asia, particularly in Malaysia and Indonesia, has resulted in decreased demand for airtime transfers between these countries. Consequently, Tranglo’s global airtime business experienced a downturn in 2024. Given the expectation of this trend continuing, CURRENC’s management intends to shift focus away from airtime transfers and invest more in remittance expansion.
• Total direct costs of revenue excluding TNG Asia and GEA were reported at US$28.9 million for 2024, marking an 8% decline from the previous year.

Detailed Financial Overview: CURRENC’s 2024 Performance Metrics

		Full-Year Financial Performance Through December 31
		2024			2023

$			$
		(dollars in thousands)
Remittance direct costs excluding TNG Asia & GEA			6,878			7,168
Global Airtime Direct Costs			8,089			10,744
Indonesian Airtime Direct Costs			13,910			13,463
Total Direct Costs excluding TNG Asia & GEA			28,877			31,375

• The direct payout rate for Tranglo’s remittance business improved to 0.12% for 2024, up from 0.15% in 2023. This change comes as Tranglo’s total payment volume (TPV) increased by 13.2%, while direct remittance costs saw a decline of 4.2%.
• Gross profit margin for the remittance business excluding TNG Asia and GEA was 62%, compared to 58% for 2023. CURRENC’s overall gross profit margin ratio for the full year 2024 was 31%, an increase from 28% in 2023.
• Total operating expenses rose to $42.0 million for the full year 2024, up from $24.0 million in 2023. This substantial increase was primarily due to $20.9 million in expenses for incentive shares granted to employees after the INFINT SPAC merger and $1 million for shares granted to Roth for Capital Market Advisor services. Following the divestment of TNG Asia and GEA in August and July 2024, respectively, future operating costs will include expenses from Tranglo, WalletKu, and the company’s headquarters. Additionally, CURRENC anticipates incurring costs related to new AI initiatives, expected to generate revenue from 2025 onwards.
  • Tranglo’s operating costs for 2024 were $12.9 million, representing a 4.9% increase from $12.3 million in 2023, consistent with TPV growth.
  • WalletKu’s operating costs were $1.2 million for 2024, down from $1.5 million in 2023.
  • Legal and professional fees dropped to $1.7 million in 2024, from $4.7 million in 2023, due to the completion of the INFINT SPAC merger and related legal expenses cessation.

• Other Loss totaled $2.2 million for the full year 2024, primarily due to:
  • $20.5 million recognized as a gain from the divestiture of GEA;
  • A goodwill impairment loss of $5.4 million related to WalletKu;
  • A goodwill impairment loss of $9.5 million related to Tranglo;
  • $5.6 million in intangible asset impairment for TNG Asia and GEA;
  • A $3.2 million impairment loss on the intercompany balance.

# EBITDA Analysis for Full-Year 2024: Key Financial Insights

## Overview of Financial Performance

### Full-Year Results Comparison
The EBITDA analysis for the full-year period ending **December 31, 2024** reveals significant insights into the financial performance of different companies. The data includes three primary companies: **Tranglo**, **WalletKu**, and **TNG Asia and GEA**.

### Summary Table
Here’s a structured overview of the financial data (all figures are in thousands of dollars):

For the full-year period ended December 31, 2024

Tranglo

WalletKu

TNG Asia and GEA

Headquarters and adjustments

Group Total

(dollars in thousands)

Net income (loss)

2,215

(1,137)

(3,740)

(36,165)

(38,827)

Add:

Income tax expenses

535

## Key Financial Insights

The data reveals the variance in net income across the examined companies. **Tranglo** reported a net income of **2,215**, indicating a positive performance relative to its peers. In contrast, both **WalletKu** and **TNG Asia and GEA** reported significant losses.

### Comparative Analysis
Analyzing these results highlights different operational efficiencies and market conditions affecting each entity. For stakeholders, these figures provide crucial insights into profitability and financial health, essential for strategic decision-making.

### Conclusion
Understanding the EBITDA and related financial metrics is vital for assessing company performance. The disparities in income and expenses among **Tranglo**, **WalletKu**, and **TNG Asia and GEA** offer an instructive look at the challenges faced in the current financial landscape.

This analysis underscores the importance of ongoing monitoring to navigate potential shifts in market dynamics.

Financial Metrics Overview: Earnings and Expenses Breakdown

	413				–				(370	)			578
Interest expense, net							27				1,762				6,726				8,515
EBIT			2,750				(697	)			(1,978	)			(29,809	)			(29,734	)
Depreciation and amortization			–				–				–				–				3,280
EBITDA			2,750				(697	)			(1,978	)			(29,809	)

# Financial Performance Overview: Company Reports Q4 and Full-Year 2024 Results

## Key Financial Highlights
– The Company reported a total EBITDA loss of $26.5 million for the full year 2024, including contributions from TNG Asia and GEA.
– A combined EBITDA profit of $2.05 million was noted for Tranglo and WalletKu in 2024.
– Losses from TNG Asia and GEA did not affect the Company’s fourth-quarter results since these entities were divested prior to finalizing the de-SPAC merger.

## Breakdown of Headquarters Expenses
The Company recorded significant expenses and adjustments at its headquarters, leading to an EBIT loss of $29.8 million, primarily due to:

– **Operating Expenses**: $20.9 million accounted for incentive shares granted upon the completion of the de-SPAC merger.
– **Capital Market Advisory Fees**: $1 million for shares issued to Roth for advisory services.
– **Other Income/Loss**: A loss of $3.2 million recognized by headquarters.
– **Legal Expenses**: $1.4 million primarily relating to the de-SPAC merger.
– **Intangible Asset Amortization**: $1.5 million attributed to Tranglo.
– **General Administrative Costs**: Approximately $1.8 million in rental and related expenses.

## Financial Performance Summary for Full-Year 2023

For the full-year period ended December 31, 2023		Tranglo				WalletKu				TNG Asia and GEA				Headquarters and adjustments				Group Total
		(dollars in thousands)
Net income (loss)			2,659				(837	)			(4,835	)			(11,405	)			(14,418	)

### Conclusion
In summary, as the Company navigates through transformational periods and divestments, its financial results highlight both challenges and opportunities in the rapidly evolving market landscape.# Financial Overview: Income Tax and Interest Expenses Data

## Income Tax Expenses Overview

The income tax expenses stand at 843, with a complementary figure of 50. Notably, the adjustment brings the total to (370), resulting in a net income after tax of 523. These details provide insight into the effective tax rates and overall financial health.

## Interest Expense Breakdown

The interest expenses showcase a net value of – (indicating no expenses recorded) compared to 3,057 for the previous period. Highlights from the interest data show an increase in interest expenses to 4,946, leading to a cumulative total of 8,003. This information presents valuable context regarding the company’s borrowing costs over these fiscal periods.

## Earnings Before Interest and Taxes (EBIT)

Earnings Before Interest and Taxes (EBIT) reveal a figure of 3,502 after accounting for adjustments. The subsequent entries read -787, -1,778, -6,829, and conclude with -5,892.

## Depreciation and Amortization

Depreciation and amortization were listed with no specified values for the observed periods. Insight into these future costs will play a crucial role in forecasting cash flows and long-term asset valuation.

With these financial points noted, we maintain a clear view of the current fiscal situation while setting the stage for further analysis of operational efficiency and investment strategies.

CURRENC Reports Financial Results and Strategic Developments for 2024

Financial Overview

Net Loss			(38.8 million)				–				3,817
EBITDA			3,502				(787)	)			(1,778)	)			(6,829)	)			(2,075)	)

• Net loss was US$38.8 million for the full year of 2024, primarily driven by a net loss of $36.2 million from headquarters and adjustments, along with a combined net loss of $3.7 million from TNG Asia and GEA.

______________________________

^{1 CURRENC divested TNG Asia and GEA in August 2024 and July 2024, respectively. Therefore, from the fourth quarter of 2024 onward, only Tranglo’s digital remittance and global airtime transfer businesses and WalletKu’s Indonesian airtime business will be consolidated and reported in the Company’s financial statements.}

Management Comments

“2024 was a year of evolution and transformation for CURRENC,” stated Alex Kong, Founder and Executive Chairman of CURRENC. He emphasized the importance of the company’s focus on core strengths and its recent initiatives in artificial intelligence. “Our cutting-edge AI initiatives, such as SEAMLESS AI Call Centre Solutions and AI Staff for Hire, are setting the stage for financial institutions to enhance their operations. We expect these advancements will create significant cross-selling opportunities, offering substantial synergies with our remittance business and driving holistic growth.”

Moreover, Kong noted that the planned 500MW hyperscale AI Data Center in Malaysia and the $100 million CURR-ARC AI Fund would accelerate the company’s AI development and contribute to industry progress. “We are confident that these strategic efforts will reinforce our leadership in AI-powered fintech and deliver lasting value for our stakeholders,” he added.

Ronnie Hui, Chief Executive Officer of CURRENC, remarked on the resilience of their digital remittance business in 2024, citing a consistent growth in total payment volume. “Despite competitive pressures reducing overall take rates, we achieved a 6.4% increase in total remittance revenues. Our goal remains to maintain the take rate while driving higher transaction volumes,” he explained. Hui acknowledged the EBITDA loss for the year as mainly a result of non-cash expenses, asserting confidence in the company’s strong fundamentals moving forward.

Recent Developments

1. CURRENC Launches SEAMLESS AI Call Centre Solutions (January 8, 2025)

The company unveiled “Text AI,” “Voice AI,” and “Avatar AI” designed to provide cost-effective, 24/7 virtual support for financial institutions, government agencies, and telecom providers. These solutions manage a wide range of tasks, from routine inquiries to complex KYC processes, thereby enhancing operational efficiency. Available in over ten languages, SEAMLESS AI offers real-time conversations and multilingual support, facilitating integration into mobile apps. This product suite is poised to extend beyond traditional functions into areas such as debt collection and marketing.

CURRENC Group Advances AI Innovations with Major New Initiatives

1. CURRENC Plans 500MW Hyperscale AI Data Center in Malaysia (March 18, 2025)

The company intends to purchase 100 acres of land in Johor, Malaysia, to develop one of Southeast Asia’s largest AI data centers. The first phase, which will have a capacity of 100MW, is expected to be operational by the end of 2026. This facility will offer co-location and wholesale leasing services to hyperscalers, enterprise clients, and various data center users. It aims to support financial institutions as they increasingly adopt AI technologies at scale. Construction will commence once long-term anchor tenants commit to a significant portion of the planned capacity. Management anticipates that this AI Data Center (AIDC) will enhance the company’s AI product lineup and facilitate wider global AI deployment.

2. CURRENC Group and ARC Group Launch $100 Million AI Infrastructure Fund (March 18, 2025)

The CURR-ARC AI Fund 1 is designed to invest in AI data centers, green energy, and global computing power development. A substantial 80% of the Fund’s capital will be allocated to projects related to AI computing infrastructure, including the aforementioned 500MW AIDC in Malaysia. The remaining 20% will be directed toward emerging enterprises within AI ecosystems, fintech, and AI-driven solutions. This partnership aligns with CURRENC’s broader objective to foster a sustainable ecosystem that propels global AI and fintech innovations.

3. CURRENC Introduces “AI Staff for Hire” Platform (March 27, 2025)

In a significant move, CURRENC launched “AI Staff for Hire,” a solution offering pre-built AI Agents customized for critical finance sector functions like customer support, KYC, compliance, and HR management. These AI Agents enable businesses to expand operations efficiently without increasing headcount, providing 24/7 multilingual support and real-time analytics that enhance customer engagement. This initiative represents a pivotal advancement in CURRENC’s mission to transform global financial services using AI, building on the success of its SEAMLESS AI Call Centre Solutions. Furthermore, CURRENC plans to attract new clients in emerging markets by cross-selling digital remittance and airtime transfer services.

4. CURRENC Teams Up with Coin Cove for AI Banking Services (March 27, 2025)

Additionally, CURRENC has secured a significant contract to deliver an all-encompassing, AI-driven banking solution to Coin Cove. This partnership will feature a multi-asset trading platform, SEAMLESS AI Call Centre technology, training, compliance, and MasterCard services. Coin Cove’s platform will utilize the “AI Staff for Hire” feature to provide round-the-clock personalized customer support and automated staff training. Enhanced with advanced risk management and real-time market insights, this collaboration aims to improve user experience and compliance. This partnership underscores CURRENC’s ongoing growth in the global electronic banking sector, building on its plans to cross-sell remittance services and further influence the future of AI-enhanced financial solutions.

Non-GAAP Financial Measures

To complement its consolidated financial statements prepared in accordance with GAAP, CURRENC uses EBITDA, a non-GAAP financial measure, to analyze core operating performance. Although EBITDA may differ from similar metrics used by other companies, it is presented to offer investors a clearer view of the company’s financial health. This measure should not be seen as a substitute for GAAP financial information.

EBITDA is defined as net loss before interest, taxes, depreciation, and amortization. CURRENC believes that this measure provides valuable insights for investors and stakeholders in evaluating operational performance, as it removes factors that do not reflect the true business performance. However, this information is supplemental and not a replacement for GAAP financial data.

About CURRENC Group Inc.

CURRENC Group Inc. (Nasdaq: CURR) is a pioneering fintech firm focused on reshaping the global financial services sector using artificial intelligence (AI). The company provides financial institutions worldwide with a suite of AI solutions, including the SEAMLESS AI Call Centre and other AI Agents that enhance cost efficiency, operational effectiveness, and customer satisfaction across banks, insurance firms, telecommunications providers, government agencies, and more. Additionally, the company’s digital remittance platform facilitates real-time global payments, ensuring financial access for underserved communities.

For further details, visit CURRENC’s official website at https://www.currencgroup.com and review the annual report on Form 10-K for the fiscal year ending December 31, 2024, filed with the Securities and Exchange Commission.

Safe Harbor Statement

This press release contains forward-looking statements made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts, but involve risks and uncertainties that may lead to actual results differing materially from those expressed. Such statements may typically be identified by phrases like “may,” “will,” “expect,” and “believe.” To understand these risks, please refer to the Company’s SEC filings. All information in this press release is current as of its publication date, and the Company does not commit to update it unless required by law.

Investor & Media Contact

CURRENC Group Investor Relations

Email: [email protected]

SOURCE: CURRENC Group Inc.

# Financial Performance Summary for Full Year Ending December 31

CURRENC GROUP INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

Full year ended December 31
		2024				2023
		US$				US$
Revenue			46,435,412				53,255,361
Cost of revenue			(31,843,467	)			(35,899,057	)
Gross profit			14,591,945				17,356,304
Selling expenses			(13,408	)			(25,880	)
General and administrative expenses			(41,954,296	)			(23,976,209	)
Loss from operations			(27,375,759

Financial Report Shows Significant Losses for CURRENC Group Inc.

Finance costs, net			(8,515,214)				(8,002,552)
Other income			(2,193,865)	(2,193,865)			839,606
Other expenses			(163,621)				(85,574)
Loss before income tax			(38,248,459)				(13,894,305)
Income tax expense			(578,303)				(523,481)
Net loss			(38,826,762)				(14,417,786)
Net income attributable to non-controlling interests			(648,559)				(888,764)
Net loss attributable to CURRENC Group Inc.			(39,475,321)				(15,306,550)

The financial results indicate a significant overall net loss for CURRENC Group Inc., amounting to (39,475,321) in the latest reporting period. This reflects ongoing challenges faced by the firm, with losses deepening compared to previous fiscal periods. Investors are urged to consider these figures carefully as they evaluate the company’s performance and future outlook.# CURRENC Group Inc. Reports Comprehensive Losses in Recent Fiscal Period

Net loss per share, basic and diluted (1)		$	(1.03	)		$	(0.45	)
Shares used in net loss per share computation, basic and diluted (1)			38,163,168				33,980,753
Other comprehensive loss:
Foreign currency translation adjustments			(209,531	)			10,608
Total comprehensive loss			(39,036,293	)			(14,407,178	)
Total comprehensive loss (income) attributable to non-controlling interests			(649,980	)			(871,614	)
Total comprehensive loss attributable to CURRENC Group Inc.			(39,686,273	)			(15,278,792	)

(1)

# CURRENC Group Inc. Reports Condensed Consolidated Balance Sheets

CURRENC GROUP INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
		December 31, 2024				December 31, 2023
		US$				US$
ASSETS
Current assets:
Cash and cash equivalents			63,821,397				48,516,765
Short-term investments			–				300,000
Restricted cash			40,742				5,428,790
Accounts receivable, net			2,115,681				2,450,871
Prepayments to remittance agents			–				137,854

Financial Summary of Current and Non-Current Assets

Escrow money receivable			–				5,014,829
Amounts due from related parties			560,823				7,287,376
Prepayments, receivables and other assets			24,738,392				34,225,239
Total current assets			91,277,035				103,361,724
Non-current assets:
Investment in an equity security			–				100,000
Equipment and software, net			1,055,520				1,016,490
Right-of-use asset			349,240				154,234
Intangible assets			3,386,117				9,191,713
Goodwill			12,059,428				27,001,383
Deferred tax assets			342,822				664,888
Total non-current assets:			17,193,127				38,128,708
Total assets

# Financial Overview: Current Liabilities and Shareholders’ Deficit

**Liabilities and Shareholders’ Deficit**

This section highlights key components of the company’s liabilities alongside its shareholders’ deficit.

### Current Liabilities

Current liabilities play a crucial role in assessing a company’s short-term financial health. Below is a breakdown of current liabilities:

– **Borrowings**:
– Current: **$20,150,058**
– Previous: **$17,804,093**

– **Receivable Factoring**:
– Current: **$258,415**
– Previous: **$423,483**

– **Escrow Money Payable**:
– Current: **$0**
– Previous: **$360,207**

– **Client Money Payable**:
– Current: **$0**
– Previous: **$4,645,290**

– **Accounts Payable, Accruals and Other Payables**:
– Current: **$59,119,916**
– Previous: **$53,988,231**

– **Amounts Due to Related Parties**:
– Current: **$67,697,074**
– Previous: **$86,488,519**

– **Convertible Bonds and Notes**:
– Current: **$1,750,000**
– Previous: **$10,000,000**

– **Lease Liabilities**:
– Current: **$171,909**
– Previous: **$152,325**

**Total Current Liabilities**:
– Current: **$149,147,372**
– Previous: **$173,862,148**

This information shows the current and historical status of liabilities, indicating shifts in both short-term obligations and overall financial health as reflected in the totals.# Detailed Breakdown of Non-Current Liabilities and Shareholders’ Equity

### Overview of Non-Current Liabilities
The financial report outlines the company’s non-current liabilities, which encompass significant obligations due beyond one year. These liabilities play a crucial role in assessing the overall financial health of the organization.

#### Breakdown of Borrowings
– **Borrowings:** Recorded at **$2,506,974**, reflecting the company’s long-term financing strategies.

#### Deferred Tax Liabilities
Another important component is the deferred tax liabilities:
– **Deferred Tax Liabilities:** Amounting to **$876,912** for the prior period and **$1,246,760** in the current period, indicating potential future tax obligations.

#### Employee Benefit Obligations
Employers must manage employee benefits responsibly:
– **Employee Benefit Obligations:** Stood at **$45,289** and increased to **$59,849**, highlighting growth in commitments to employees.

#### Lease Liabilities
The company also has obligations related to leased properties:
– **Lease Liabilities:** Documented as **$156,647**, contributing to the company’s overall liability portfolio.

### Totals for Non-Current Liabilities
The total non-current liabilities reflect the company’s obligations not expected to be settled within one year:
– **Total Non-Current Liabilities:**
– Current Period: **$3,813,583**
– Prior Period: **$1,078,848**

### Total Liabilities Overview
In assessing total financial obligations:
– **Total Liabilities:** The company reported liabilities of **$150,226,220** for the current period and **$177,675,731** for the previous reporting timeframe.

### Additional Notes on Commitments and Mezzanine Equity
This section addresses future financial commitments which may impact corporate strategies but currently has no recorded impacts on liabilities:
– **Commitments and Contingencies:** These figures indicate potential obligations not explicitly quantified.
– **Mezzanine Equity:** Volatility in this area is apparent with a reported **$2,957,948**, shedding light on financing strategies that enhance shareholder value.

### Shareholders’ Deficit
A closer look at the equity position reveals:
– **Ordinary Shares (US$0.0001 par value):** The company authorized **550,000,000 shares**, and as of December 31, 2024, issued **46,527,999 shares**, compared to **33,980,753 shares** a year prior.

This detailed analysis provides a clear view of the company’s liability structure and equity position, essential for stakeholders aiming to understand financial stability and operational strategies.# CURRENC Group Inc. Financial Overview: Key Metrics and Cash Flow Report

			4,653					3,398
Additional paid-in capital (1)			65,638,838					29,227,005
Accumulated deficit			(131,522,902	)				(92,075,379	)
Accumulated other Comprehensive (Loss)/Income				(108,122	)			88,366
Total shareholders’ deficit attributable to CURRENC Group Inc.				(65,987,533	)			(62,756,610	)
Non-controlling interests				24,231,475				23,613,363
Total deficit				(41,756,058	)			(39,143,247	)
Total liabilities, mezzanine equity and shareholders’ deficit				108,470,162				141,490,432

(1)

Retrospectively restated to reflect Reverse Recapitalization

CURRENC GROUP INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
		Years ended December 31,

# Financial Overview: 2023 and 2024 Cash Flows Analysis

2024				2023
		US$				US$
Cash flows from operating activities:
Net loss			(38,826,762	)			(14,417,786	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Non-cash expense for share-based compensation			20,869,721				—
Non-cash expense for share issued for service providers			1,000,000				—
Non-cash offering costs for convertible note			2,512,000				—
Non-cash finance cost for debt conversion			340,159				—
Amortization of discount on convertible bonds			—				807,860
Depreciation of equipment			525,295				607,138

Depreciation and Amortization Impact on Financial Performance Overview

Depreciation of right-of-use assets			185,107				183,198
Amortization of intangible assets			2,186,175				3,200,843
Reversal of provision for doubtful debts			143,748				—
Impairment loss on receivables			3,158,042				—
Gain on disposal of subsidiaries			(21,738,102)				—
Goodwill impairment			14,941,955				—
Deferred income taxes			127,660				494,737
Gain on disposal of fixed assets			—				(36,519)
Unrealized foreign exchange loss/(gain)			(659,467)				(65,981)
Changes in operating assets and liabilities:
Accounts receivable			140,559				605,202
Prepayments to remittance agents			98,603				—

# Financial Summary of Company Assets and Liabilities

## Overview of Liabilities

**Amounts due to immediate holding company**
– Current: (393,227)
– Previous: (391,432)

**Amounts due from related parties**
– Current: 4,183,438
– Previous: (5,348,525)

**Prepayments, receivables, and other assets**
– Current: 7,980,401
– Previous: 2,502,972

**Escrow money payable**
– Current: 10,386
– Previous: 80,006

**Client money payable**
– Current: (416,711)
– Previous: (1,593,194)

**Accounts payable, accruals, and other payables**
– Current: 14,220,717
– Previous: (4,827,110)

**Amounts due to related parties**
– Current: (6,925,748)
– Previous: 3,149,825

**Lease liabilities**
– Current: (213,709)
– Previous: (192,097)

## Cash Flow from Operations

**Net cash provided by/(used in) operating activities**
– Current: 3,450,240
– Previous: (15,286,494)

## Cash Flows from Investing Activities

The cash flows from investing activities, along with further details regarding capital expenditures or asset sales, will be detailed in subsequent reports.

—

This financial summary outlines key liabilities and cash flow metrics of the company. It is essential for stakeholders to understand these figures to evaluate the financial health and operational efficiency of the company. Further analysis will shed light on the implications of these numbers for future performance.

Analyzing Cash Flows Related to Investing and Financing Activities

Purchases of property, plant, and equipment			(576,674)				(291,856)
Proceed received from disposal of property, plant and equipment			—				36,679
Decrease in short-term investments			—				1,700,000
Cash acquired from business combination			43,508				—
Acquisition of a subsidiary			(31,868)				—
Net cash (used in)/provided by investing activities			(565,034)				1,444,823
Cash flows from financing activities:
Proceeds from borrowings			640,935				1,251,752
Repayment of borrowings			(221,258)				(2,212,067)
Proceeds from receivable factoring			2,030,659				2,210,415
Repayment of receivable factoring			—				—

# Financial Summary of Currenc Group Inc. for the Year-End

## Cash Flow Details

### Proceeds from Financing Activities

– **Convertible Bonds Proceeds:**
– Total Proceeds: $1,750,000
– Prior Year Change: **($—)**

### Net Cash from Financing Activities

– **Net Cash Provided by Financing Activities:**
– Current Year: $2,016,549
– Prior Year: **($1,197,648)**

### Cash Increase and Year-End Balances

– **Net Increase/(Decrease) in Cash and Cash Equivalents:**
– Current Year: $4,901,755
– Prior Year: **($15,039,319)**

– **Cash, Restricted Cash, and Escrow Receivables at Beginning of Year:**
– Amount: $58,960,384
– Amount from Prior Year: $73,999,703

### Year-End Cash Positions

– **Cash, Restricted Cash, and Escrow Receivables at End of Year:**
– Total at End of Year: $63,862,139
– Total from Prior Year: $58,960,384

### Supplemental Cash Flow Information

– **Income Taxes Received/(Paid):**
– Amount Paid: **($445,530)**
– Amount Received: $761,333

– **Interest Paid:**
– Current Year Interest Paid: **($1,073,407)**
– Prior Year Interest Paid: **($1,819,174)**

This summary provides a clear picture of Currenc Group Inc.’s cash flow activities over the reporting period. The data highlights both the cash provided through financing activities and the changes in cash positions from year to year, providing stakeholders with essential financial insights.“`html

EBITDA Analysis for Fiscal Year 2024 and 2023

EBITDA Analysis for the Full Year Period
For the full year period ended December 31, 2024		Tranglo 2				WalletKu 3				TNG Asia and GEA1				Headquarters and adjustments				Group Total
		(dollars in thousands)
Net income (loss)			2,215				(1,137	)			(3,740	)			(36,165	)			(38,827	)
Add:

“`# Comprehensive Financial Overview: Income Taxes, Interest, and Core Earnings

## Income Tax Expenses

In the current financial period, income tax expenses are detailed as follows:

Income tax expenses

535

413

–

(370

)

578

## Interest Expense

In addition to tax expenses, interest expenses have been recorded with net values as follows:

Interest expense, net

27

1,762

6,726

8,515

## Earnings Before Interest and Taxes (EBIT)

The table below summarizes the Earnings Before Interest and Taxes (EBIT):

EBIT

2,750

(697

)

(1,978

)

(29,809

)

(29,734

)

## Depreciation and Amortization

Finally, depreciation and amortization expenses are reported as follows:

Depreciation and amortization

–

–

–

–

3,280

## Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA)

The final measure of profitability, EBITDA, is summarized below:

EBITDA

2,750

(697

)

(1,978

)

(29,809

)

This financial overview represents a thorough breakdown of the key expenses impacting earnings, providing essential insights for stakeholders and analysts alike.

Tranglo Reports Financial Results for Fiscal Year 2023

For the full year period ended December 31, 2023		Tranglo2				WalletKu3				TNG Asia and GEA				Headquarters and adjustments				Group Total
		(dollars in thousands)
Net income (loss)			2,659				(837	)			(4,835	)			(11,405	)			(14,418	)
Add:
Income tax expenses

# Financial Results Show Mixed Performance in Recent Divestitures

843				50				–				(370	)			523
Interest expense, net			–				–				3,057				4,946				8,003
EBIT			3,502				(787	)			(1,778	)			(6,829	)			(5,892	)
Depreciation and amortization			–				–				–				–				3,817
EBITDA			3,502				(787	)			(1,778	)			(6,829	)			(2,075	)

¹TNG Asia and GEA were divested in August 2024 and July 2024, respectively.

²Tranglo maintained a positive EBITDA for the full year of 2024 and 2023.

³Tranglo and WalletKu achieved a combined positive EBITDA for the full years of 2024 and 2023.

This article was originally published on Quiver News. Read the full story.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.