CURR earnings analysis
What we found in CURR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
For Q1 2025, Currenc Group Inc. reported a significant revenue decrease of 23% to $10.1 million compared to $13.1 million in Q1 2024. The company faced notable losses, with EPS dropping to -0.70, while they still managed a positive free cash flow of $15 million in Q4 2024 despite a recent net loss of $4.5 million. Segment performance showed declines in both remittance and airtime revenue, primarily influenced by recent divestitures and competitive market dynamics.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Beats Estimates
- Reported revenue of $10.1 million exceeded estimates of $9.8 million by 13%.
- Expense Control Noted
- Despite losses, reduced costs led to a 20.7% decline in cost of revenue, from $8.7 million in Q1 2024 to $6.9 million in Q1 2025.
- Free Cash Flow Management
- Free cash flow reported at $15 million in Q4 2024, demonstrating good liquidity position.
- Global Remittance Growth Maintained
- Remittance revenue, excluding divested entities, was $4.6 million, close to $5.0 million in Q1 2024.
- Increase in Unique Users
- Tranglo’s unique users increased slightly to 579,684 from 575,941 year-over-year.
- Operating Activities Cash Inflow
- Net cash provided by operating activities was $1.5 million, despite a net loss of $4.5 million.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Declining Transaction Volume
- The company processed 2.77 million transactions, down 5.8% from 2.94 million last year.
- Ongoing Competitive Pressure
- Profitability under pressure from increased market competition affecting pricing strategies.
- Working Capital Deficit
- The company reported a working capital deficit of $59.8 million as of March 31, 2025.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.7
- Gross margin
- 31.8%
- Segment
- Remittance
- Segment
- Airtime
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads worse than the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
Read the next one first.
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