Amber International NASDAQ: AMBR reported second-quarter revenue of $13.9 million, up 39% from the prior quarter, as the company began repositioning itself from a digital wealth management business toward a technology company focused on specialized artificial intelligence agents.
Gross profit increased to $11.1 million from $6.8 million in the first quarter, while gross margin expanded to 79.5% from 67.7%. Operating income was $1 million, compared with an operating loss of $3.2 million in the prior quarter. Adjusted EBITDA from continuing operations improved to positive $1.9 million from a negative $3.2 million.
Chief Executive Officer Michael Wu said the quarter offered the first financial evidence of the company’s new strategy. “We built AMBR as a digital wealth management business. Now we are becoming a technology company,” Wu said. “We are making that choice deliberately and from a position of strength backed by the numbers.”
Agentic Revenue Becomes Largest Revenue Category
Beginning in the second quarter, Amber International reorganized its revenue reporting into digital assets platform revenue and agentic revenue. Digital assets platform revenue totaled $6.6 million and included wealth management, execution and payment solutions. Agentic revenue was $7.4 million, reflecting contributions from the company’s A-MM operating system and its marketing and enterprise solutions operations.
A-MM contributed approximately $3.5 million in its first quarter of recognized revenue, while marketing and enterprise solutions generated $3.8 million. Wealth management solutions produced $5.3 million, up from $4.3 million in the first quarter, which Chief Financial Officer Josephine Ngai attributed primarily to demand for diversified products and newly launched offerings.
Wu said agentic businesses accounted for $7.4 million of total revenue and have structurally higher gross margins than the operations they are replacing. The mix shift toward those activities was the primary reason gross margin reached 79.5% during the quarter, according to management.
Chief Operating Officer Yi Bao cautioned that A-MM remains in an intermediate stage of the company’s development. He said the current revenue primarily represents monetization of the operating platform and capabilities built on top of it, rather than agents being paid directly to deliver outcomes for customers.
“The operating system is the foundation,” Bao said. “The specialized agent is the product we are building towards, and the outcome is what the customer should eventually be paying for.”
Ambre and MIA Launch as Initial AI Products
The company formally introduced its AMBR strategy in Hong Kong on Sept. 1 and launched the first version of Ambre, a personal finance agent, by invitation to Amber Premium’s verified client base.
Ambre is designed to analyze portfolios across accounts and asset classes, identify concentration and correlation risks, provide signals relevant to a user’s holdings, and monitor conditions or tasks. Wu said the product does not autonomously place orders at this stage. When users decide to act, they are directed to the company’s expert team, which includes former relationship managers, structurers and traders.
President Vicky Wang said the company intends to progressively expand the agent’s capabilities as it validates user behavior. The longer-term goal is to make personalized financial intelligence, historically delivered through high-touch private banking relationships, available to a broader set of users.
The company’s other initial agent, MIA, is focused on marketing operations. MIA originated within Amber’s wholly owned iClick and CMRS marketing businesses, where management said it handles a substantial share of day-to-day campaign operations for more than 100 enterprise customers. It is offered both as part of marketing services and directly as a product.
Management said its approach is to operate businesses, convert their expertise and workflows into AI agents, and then offer those agents to customers. Bao said the company does not intend to compete at the foundation-model layer and will remain model-neutral, using proprietary or open-source models depending on the task.
Expenses Remain Flat; Company Withdraws Guidance
Operating expenses remained approximately $10 million in the second quarter, essentially unchanged from the prior quarter. Ngai said the company’s strategic transition was not being driven by a material increase in spending, and management sees operating leverage from deeper AI integration across the business.
Net income from continuing operations was $1.5 million, compared with a net loss of $3.7 million in the first quarter. Adjusted net income was also $1.5 million. As of June 30, Amber International had $34.2 million in cash equivalents, term deposits and restricted cash.
The company withdrew its previous financial guidance, saying it no longer believes the earlier framework appropriately reflects the business following its agentic AI transition. Ngai said Amber International intends to issue updated guidance after it establishes more operating history and improves visibility into the financial contribution of its newer businesses.
Amber International also said it repurchased approximately 2.6 million ADSs for about $5.8 million through June 30 under its $50 million share repurchase program. Approximately $44.2 million remained available under the authorization.
Wu said the company is reviewing the structure and ownership of parts of its legacy financial services operations as it focuses on AI agents. He said some operations could remain as infrastructure supporting the strategy, while other businesses may be better suited to a different structure. The company did not announce any specific actions.
Management expects to hold its inaugural Investor Day before the end of the year, where it plans to discuss additional agents under development and provide a financial framework for the transition.
About Amber International (NASDAQ:AMBR)
iClick Interactive Asia Group Limited, together with its subsidiaries, provides online marketing services in the People's Republic of China and internationally. It offers iAudience, an audience identification solution that allows marketers to search, identify, and customize their targeted audience to generate or enhance brand awareness; iAccess and iActivation, an audience engagement and activation solution tailored for brand awareness-driven and performance-driven campaigns; iExpress, the lite version of iAccess solution for small and medium-sized enterprises; iNsights, an online campaign results monitoring and measurement solution; and iExperience, a content creation solution.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Amber International, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Amber International wasn't on the list.
While Amber International currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
A strong long-term portfolio starts with companies that can survive recessions, inflation, changing consumer habits, and shifting market leadership.
This report names seven blue-chip stocks across technology, retail, consumer staples, healthcare, networking, sporting goods, and utilities that offer investors a mix of stability, income, growth, and staying power.
Get This Free Report
