Singapore-based, Temasek-backed crypto firm Amber International announced record revenue and gross profit for the first quarter of 2025, ending March 31.

The company reported revenue of US$14.9 million and a gross profit of US$11 million, which attributed this growth to its recent merger with the Nasdaq-listed online marketing provider iClick, completed in March. The financial figures were unaudited.

It also noted strong performance in its wealth management solutions business, which generated US$9.9 million in revenue.

Operating income reached US$800,000, a recovery from a US$900,000 loss in the same period last year.

Adjusted EBITDA improved to US$1.6 million from a US$800,000 loss in Q1 2024.

Client assets on the platform increased by 11% year-on-year to US$1.28 billion. Cumulative KYC-verified users rose by 22% to 4,657.

🔗 Source: Amber International

🧠 Food for thought

1️⃣ Crypto consolidation creates strategic advantage amid record industry M&A

Amber International’s merger with iClick is part of a broader consolidation trend reshaping the cryptocurrency sector, with over 200 crypto M&A deals reported in 2022 alone 1.

This strategic integration comes during a period when market saturation is driving larger firms to acquire specialized capabilities, exemplified by MoonPay’s $175 million purchase of Helio and Chainalysis’ $150 million acquisition of Alterya 2.

Industry experts like Dan Novaes of EARN’M view this consolidation wave as a natural progression for a maturing market, with companies pursuing acquisitions to gain competitive advantages in specific service areas 2.

Amber’s post-merger performance, achieving record $14.9 million quarterly revenue, demonstrates how well-executed integrations can deliver immediate financial benefits while expanding institutional capabilities.

The company’s focus on wealth management solutions, which generated $9.9 million in revenue this quarter, showcases how consolidation can help firms develop specialized, high-margin service offerings that differentiate them in an increasingly competitive landscape.

2️⃣ Digital wealth management transformation accelerates amid technological disruption

Amber’s growth in wealth management aligns with broader industry projections, as wealth managers anticipate aggressive 13.7% AUM growth in 2025 according to the Natixis Wealth Industry Survey 3.