Amber International Holding Limited

Good morning. Welcome to AMBER International Fiscal Year 2025 Third Quarter Financial Results. At this time, all participants are in listen-only mode. The question and answer session will follow the formal presentation. If you'd like to ask a question at that time, you may press star 1 from your telephone keypad, and a confirmation tone will indicate your line is in the question queue. You may press star 2 if you'd like to withdraw your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. As a reminder, this conference is being recorded. It's now my pleasure to introduce your host, Mia, AMBER Premium's official agent FI ambassador. Mia, you may begin.

Good morning, and welcome to AMBER International Holding Limited's third quarter 2025 earnings call. I am Mia, AMBER Premium's official agent FI ambassador and your moderator today. Before we begin, please note that today's discussion may contain forward-looking statements within the meaning of U.S. federal securities laws. These statements involve risks and uncertainties that could cause actual results to differ materially. For a more detailed description of these and other risks and uncertainties, please refer to our filings with the Securities and Exchange Commission. Joining us on today's call are Michael Wu, Chairman of the Board and CEO, who will share our strategic vision and AI transformation initiatives. Vicky Wang, President, who will focus on our core business updates, current positioning, offerings, and goals. Yi Bao, Chief Product Officer, who will update us on our product development and innovation pipeline. Josephine Ngai, CFO, who will review our financial results and provide guidance. And Steve Zhang, our Head of Capital Markets. Following their remarks, we will open the line for Q&A. With that, let me now turn the call over to Michael Wu, our Chairman of the Board and CEO.

Thank you, Mia, and thank you all for joining us today. Q3 was a defining quarter for Amber International. We delivered operating income of $1.4 million within an 8% operating margin. a strong profitability and a clear validation of the operating leverage we have been building quarter after quarter. This improvement reflects not only disciplined cost management, but also a stronger, more durable revenue mix anchored in the premium client engagement and high-quality business activity. Underneath the financials, client behavior tells an even more compelling story. Assets on platform grew 20% quarter-on-quarter to $1.84 billion, supported by robust inflows and deepening client relationships. Trading activity accelerated across segments, reaffirming that our platform remains a trusted, high-touch partner for sophisticated investors, particularly in volatile markets where our differentiated capabilities matter most. These results demonstrate the strength of our core. We are Asia's leading digital wealth management platform, serving the region's most sophisticated clients with a private banking experience built on technology and unmatched access to digital asset opportunities. This business is profitable, resilient, and scalable, and it continues to set the foundation for our long-term strategy. As part of our ongoing commitment to maximizing shareholder value and demonstrating our confidence in the long-term prospects of our business, I'm pleased to announce that our board of directors has authorized a share repurchase program of up to $50 million of our outstanding ADS over the next 12 months, starting from December 1st, 2025. This decision follows directly from the strong Q3 results we just shared with you. The authorization reflects our board's confidence on multiple fronts. First, in the durability and the scalability of our core digital wealth management business. Second, in our ability to generate sustainable cash flows. And third, in our belief that the current valuation does not fully reflect Ember International's intrinsic value and long-term potential. We intend to execute this program opportunistically over the next 12 months, balancing repurchases with our ongoing investments in technology, AI capabilities, and platform expansion. Importantly, this buyback does not signal a shift away from growth. Rather, it demonstrates that we can deliver both returning value to shareholders today while building the AI-powered crypto finance platform of tomorrow. As many of you know, Ember is more than a crypto finance platform. At all core, we are and have always been a technology-driven company. Remain at the forefront of technology, we must be relentlessly forward-looking, technology-driven, and bold in building what comes next. That brings me to the broader strategic arc. From our founding of Amber AI in 2017, we have held a steadfast belief. Two technologies, crypto and AI, would fundamentally reshape finance and the broader economy. That conviction has only grown, and today we are uniquely positioned to capitalize on their convergence. This quarter, we continued to make significant strides in embedding AI at every layer of our operations. Most notably, we have successfully launched the Work with Mia portal and advancing AI integration across both our internal and external processes. Mia, our AI agent and your host today, now plays a hands-on role in nearly every aspect of our content generation and social media management, ensuring a new level of operational efficiency and consistency. Inside the organization, Mia is now live within our internal Slack workspace, acting as a proactive, always available teammate, accelerating knowledge sharing and empowering our staff to operate with greater agility. Additionally, we have developed a proprietary knowledge-based engine inspired by Amber's unique needs and modeled after Perplexity, which is currently undergoing a comprehensive security review prior to full deployment. Together, these initiatives are not simply efficiency upgrades. They are reinforcing Amber as a true technology-driven leader at the intersection of AI and crypto finance. We remain committed to harnessing AI to improve the client experience, drive scalable and sustainable growth, and further sharpen our competitive edge. Q3 showed that the foundation of our business is strong. The transformation is accelerating, and the long-term vision remains deeply compelling. AI for crypto in the near term employing the most advanced agent technologies to scale and personalize premium services, empowering us to better serve sophisticated clients and improve our unit economics. And looking further out, crypto for AI, building the rails for the coming agent economy, where crypto and AI converge to redefine how value is created and transferred, with Amber positioned at the very heart of this future. Thank you.