Amber International Holding Limited

Good morning and welcome to AMBER International Second 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. At that time, if you'd like to ask a question, please press star 1 on your telephone keypad. As a reminder, this conference is being recorded. It's now my pleasure to introduce your host, AMBR's AI Ambassador, Miya. You may begin.

Good morning and welcome to AMBER International Holding Limited second quarter 2026 earnings conference call. I am Mia, AMBER's official AI agent moderator for today's call. Before we begin, please note that today's discussion will contain forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected. For a more detailed discussion of these risks, please refer to the company's filings with the US Securities and Exchange Commission, including our most recent annual report on Form 20F. Joining us on today's call are Michael Wu, Chairman of the Board and CEO, Vicky Wang, President, Yi Bao, Chief Operating Officer, Josephine Ngai, Chief Financial Officer, and Steve Jiang, Co-Chief Financial Officer. 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 all for joining us. The second quarter was a strong one for AMBR. And I will start with the numbers. Revenue was $13.9 million. up 39% from the first quarter. Gross margin expanded to 79.5%. Operating income was $1 million and adjusted EBITDA was $1.9 million, both turning positive from losses last quarter. And the revenue from our agentic and the digital asset businesses from Amber Premium came in at $10.1 million. about the 9 to 10 million outlook we gave you last quarter. And on our 15 million repurchase program, we bought back approximately 2.6 million ADS for about 5.8 million through June 30, with roughly $44.2 million remaining. Those are the results. Today, though, I want to explain why they matter. because they are the first evidence that our new strategy is already taking hold. Two days ago in Hong Kong, we introduced AMBR for what it is today, a company that builds specialized AI agents. This is a pivot, and I'd rather say that plainly than dress it up as continuity. We built AMBR as a digital wealth management business Now we are becoming a technology company while making that choice deliberately and from a position of strength backed by the numbers I just shared because we believe this is where the greater opportunity lies. For me, this is also a return to my original passion and my true ambition. We started in 2017 as Amber AI and spent the first nine years in markets learning exactly where capable models stop being useful to people making consequential decisions. In June, I stepped down as CEO of Amber Group to run AMBR full-time. Building these AI agents is the only thing I plan to work on for the next decade. I say that publicly on Monday and I will repeat that today to this audience because you are the ones who can hold me on to it. and the strategy already has two products in market. Embry is our consumer agent for personal finance. It does what Embry Premium's relationship managers have done for high net worth clients. Portfolio analysis across accounts and asset classes, a daily signal feed filtered to what a user actually holds and actually what matters, monitoring and alerts and Embry makes that available far more broadly. And the two design choices matter for this audience. First, Embry works across users' existing exchange and brokerage accounts. We're not asking anyone to move assets to use it. Second, Embry does not place orders autonomously. Not yet. When a user decides to act, They are handed to our expert team. These were people who were relations managers, structures, and traders in our financial services business. We will expand the agents' authority as reliability is demonstrated, not ahead of it. Embraer opened Monday by invitation, beginning with Embraer Premium's verified client base. Mia, your host today, is also our marketing agent. and it's the proof that this model produces real revenue. MIA was built inside iClick and CMRS, our wholly owned marketing businesses, where it runs a substantial share of day-to-day campaign operations for a base of more than 100 enterprise customers. As of Monday, MIA is also available directly, so does the product, not just embedded in our services anymore. That's the pattern you should expect from us. Operate a business, convert its expertise into an AI agent, and then take that AI agent to market. Now let's move to the P&L logic because the repositioning is only credible if the numbers eventually say the same thing as a strategy. Over the $13.9 million I mentioned, 7.4 million came from businesses we classify as agentic, including 3.5 million from AMM in its first quarter of recognition. That classification reflects how these businesses genuinely run. Operations executed on AI agent in structure, not a relabeling of old revenue. Yi will take you through the basics and the details. The reason it matters I just think structurally higher gross margin in the businesses it's replacing. And that makes shift is most of why gross margin reached 79.5% this quarter. On the rest of the portfolio, as we focus the company on building AI agents, we're reviewing the shape and ownership of parts of our legacy financial services business. Some of what we operate today fits the strategy as infrastructure. Some might serve clients and shareholders better in a different structure. We have nothing to announce and we won't speculate on outcomes. But I'd rather tell you the review exists than have you learn of any outcome code. I also want to emphasize that Emory and Miya are the first two AI agents. not the whole portfolio. At our inaugural investor day, which we now expect to hold before year end, we'll show you what else we've been building and lay out the financial framework for the transition. What the revenue mix looks like as agentic businesses become the center of AMBR. Until then, our job is simple. Execute on what we just launched Build AI Agents, Bob. With that, I'll hand over to Yi Bao.