Amber International Holding Limited

Good morning. Welcome to AMBER International First Quarter 2026 Financial Results. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If you would like to ask a question, please press star 1 on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Maya, AMBER's Premium Official Agent FI Ambassador. Amiya, you may begin.

Good morning, and welcome to AMBER International Holding Limited's first quarter 2026 earnings call. I am Amiya, AMBER Premium's official Agency 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 first quarter overview, strategic vision, and AI initiatives. Vicky Wong, President, who will focus on our core business updates, client platform performance, and future focuses. Yi Bao, Chief Product Officer. who will update us on our regulatory update and platform evolution, Josephine Guy, Chief Financial Officer, who will review our financial results and provide guidance, and Steve Jung, 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. The first quarter of 2026 was another tempered period for the crypto industry, continuing the downtrend we saw in the fourth quarter of 2025. Our total revenue for the quarter was $10 million compared to the $14.5 million in Q1 2025 and the $16.3 million last quarter. Despite the challenging environment, we see this as an opportunity to strengthen our foundation with clients and continuing advancing our strategic priorities. Our focus remains on how we serve our clients more efficiently and how we scale that capability through our agentic FinTech capabilities. Through every cycle, what proves durable are Ember's most important assets, our ability to innovate and our ability to build scalable, future-proof infrastructure. To that point, This quarter marks another step forward in the strategy we have been building towards. As part of our broader agentic transformation, we introduced A-Suite as an agent-native operating system that abstracts the complexity of digital asset financial services, enabling them to be automated and operated by AI agents. This is similar to how AWS two decades ago abstracted the complexity of servers and enabled a whole generation of web apps to simply build on top. That is where finance is heading as the agentic economy arrives, and our vision is to be the foundational layer beneath it. We're moving from competing at the interface and the distribution layers to providing the rails for the agentic economy itself. This is not an aspiration. It is already on the way. Amber Premium has already proven itself as a strong distribution layer with established institutional relationships, a regulatory licensing footprint, and a demonstrated segment profitability as disclosed in our financial statements. Building on that proven foundation, we are now creating the operating core beneath it. The greater efficiency and expanded addressable market unlocked by A-Suite what will carry us toward the agentic future that I have always envisioned, spoken about, and built toward. This also marks the next step in how we define AMBR, not just as Amber Premium, the crypto platform anymore, but as Amber, a truly emerging agentic fintech. As I mentioned in previous earnings calls, Amber first began as Amber AI, The conviction that crypto and AI would converge to define the future of finance was not a strategy we adopted later, but rather it was a thesis we founded the company upon. What you are seeing today, this quarter, across both our business and our innovation, is that this thesis is arriving in practice, and we intend to keep building it deliberately, one proven layer at a time. Building on Amber Premium's proven success, we launched the first of our three flagship agentic fintech operating systems within the A-suite at the end of March. AMM, which stands for Agentic Market Making, is an agent-native liquidity operating system for token projects and the designated market-making infrastructure. AMM is designed to unify execution workflows infrastructure and transparency into a platform that can be orchestrated by agents with customized real-time performance and risk reporting and monitoring. We expect AMM to begin contributing meaningful revenue in Q2 and to scale from there. It is the first of the three A-suite products we plan to bring to market this year. Yi will elaborate further on AMM and our A-suite positioning later. Beyond A-Suite, we are also embedding AI agent capabilities directly into our existing operations across all of our businesses. Within our iClick digital marketing business, we're transitioning toward an agent-first and agent-native operating model by integrating Mia, our first in-house AI agent, who is also our host today for the earnings call, into iClick's core workflows, decision-making processes, and the service delivery. This goes way beyond just using AI as a tool. We are making autonomous agentic workflows a central driver of how we operate, and that is already improving efficiency and the scalability across the businesses. This is a practical execution of our broader AI agent-driven strategy. As we continue building towards this vision, I'm also pleased to announce our crypto for AI vision. Crypto4AI, or C4AI as we call it, is our view that crypto will become the financial and economic infrastructure for the agentic economy. To that end, our inaugural C4AI Investor Day, planned for October, will be an important milestone where we will share our progress and showcase a whole fleet of Amber agents with the market. One final point on capital allocations. because it reflects how we view our own valuation. We continue to repurchase shares opportunistically through Q1 and remain focused on returning capital to our shareholders. Under our $15 million share repurchase program announced in November 2025, we repurchased approximately 2 million ADS during the period. As of March 31, 2026, Approximately US$45.5 million remained available under the program. We continue to have significant flexibility for opportunistic repurchases while investing for growth. Ultimately, Q1 reflected a deliberate strategic decision on our part. Our strategy is advancing and we are using this period to redefine the scope of AMBR and the position of the company for the next phase of the agentic economy. With that, I will now turn the call over to Yi, our Chief Product Officer, for a deeper look at our product roadmap and the launch of Amber's first agent-native operating system, AMM.