Toku FY25 revenue hits $34.8m as AI adoption grows

Toku reported US$34.8 million in revenue for FY2025, up 9.3% from US$31.8 million a year earlier.

The company expects AI-driven usage and its channel partner programme to help grow recurring revenue as deployments scale.

Usage revenue rose 21% to US$23.9 million, making up 68.8% of total sales, while subscriptions and licensing edged higher to US$5.6 million.

Professional services revenue fell due to reduced delivery capacity after workforce optimisation in 2H2024, while maintenance revenue declined mainly from completing legacy contracts.

Gross profit fell to US$8.4 million, and gross margin declined to 24.3% from 27.4% as lower-margin usage grew.

Reported EBITDA loss widened to US$8.5 million. This was largely due to about US$5.3 million in non-cash, non-recurring items, mainly listing costs and accelerated share-based expenses.

Adjusted EBITDA loss improved to US$3.3 million.

Net loss was US$9.1 million; adjusted net loss improved to US$4.2 million after excluding non-recurring and non-cash items and a non-recurring deferred tax credit.

🔗 Source: Toku

🧠 Food for thought

Implications, context, and why it matters.

Toku’s numbers come from messaging traffic while it builds AI products

The fastest-growing line is “usage revenue.” It comes from Toku’s core business as a cloud-native, AI-powered customer experience platform that routes conversations across voice, chat, email, and other digital channels. Customers pay based on use.
Toku expects AI-led volume and its channel partner programme to lift recurring revenue as more customers go live.

A Singapore IPO offers a workable route for regional tech firms

Toku’s initial public offering (IPO) gives a regional B2B tech company a way into public markets.
After the IPO, the company converted all convertibles into equity. It repaid shareholder loans. It also plans early repayment of a venture debt facility with IRIS Fund LP on 9 April 2026.
Public listing puts Toku’s results under closer review than many private rivals. It also raises the pressure to grow the lower-margin usage stream while funding AI development.
Its performance could serve as a benchmark for regional, specialised AI-enabled customer experience platforms. It may also test whether channel partners can grow recurring revenue without squeezing profitability.