Revenue has contracted significantly over the last two years, dropping from $13.4M in 2023Q4 to $8.7M in 2025Q4, while operating margins remain deeply negative at -46.5%.
| Sales/Revenue | - | - | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | - | - | - | - | - | - | - | - | - | - | - | - |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | 15.42M | 14.59M | 17.36M | 15.62M | 17.9M | 15.99M | 392K | 304.02K | -225 | -69.17K | 66.42K | 46.71K |
| Gross Margin % | 40.77% | 31.42% | 32.59% | 28.14% | 31.12% | 25.97% | 62.92% | 52.06% | -0.12% | -82.18% | 36.21% | 18.55% |
| Gross Profit Growth % | 5.65% | -15.93% | 11.12% | -12.72% | 11.92% | 3979.13% | 28.94% | 135218.67% | 99.67% | -204.14% | 42.19% | - |
| Operating Expenses | 23.35M | 41.97M | 24M | 25.63M | 17.86M | 16.4M | 12.43M | 7.86M | 7.34M | 3.86M | 1.6M | 587.83K |
| OpEx % of Revenue | 61.76% | 90.38% | 45.07% | 46.19% | 31.06% | 26.63% | 1994.7% | 1346.32% | 4069.69% | 4582.76% | 873.33% | 233.42% |
| Selling, General & Admin | 23.35M | 41.97M | 24M | 25.63M | 17.86M | 16.4M | 10.12M | 6.45M | 5.91M | 3.1M | 920.25K | 914.74K |
| SG&A % of Revenue | 61.76% | 90.38% | 45.07% | 46.19% | 31.06% | 26.63% | 1624.24% | 1105.1% | 3278.5% | 3687.65% | 501.69% | 363.24% |
| Research & Development | - | - | - | - | - | - | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income | -7.94M | -27.38M | -6.65M | -10.01M | 39.72K | -405.98K | -12.04M | -7.56M | -7.34M | -3.93M | -1.54M | -749.68K |
| Operating Margin % | -20.99% | -58.96% | -12.48% | -18.04% | 0.07% | -0.66% | -1931.78% | -1294.26% | -4069.81% | -4664.94% | -837.12% | -297.69% |
| Operating Income Growth % | 71.01% | -311.93% | 33.64% | -25311.9% | 109.78% | 96.63% | -59.24% | -2.94% | -87% | -155.69% | -104.82% | - |
| EBITDA | -5.7M | -24.17M | -2.65M | -5.62M | 6.02M | 5.42M | -11.97M | -7.41M | -7.18M | -3.75M | -1.38M | -598.48K |
| EBITDA Margin % | -15.08% | -52.06% | -4.98% | -10.12% | 10.47% | 8.8% | -1921.99% | -1268.6% | -3978.58% | -4459.85% | -751.23% | -237.65% |
| EBITDA Growth % | 76.41% | -810.61% | 52.74% | -193.28% | 11.18% | 145.24% | -61.64% | -3.21% | -91.21% | -172.4% | -130.25% | - |
| D&A (Non-Cash Add-back) | 2.23M | 3.2M | 3.99M | 4.4M | 5.98M | 5.82M | 61K | 149.8K | 164.6K | 172.61K | 157.55K | 151.2K |
| EBIT | -15.24M | -29.73M | -5.89M | -7.41M | -592.25K | 1.08M | -17.26M | -7.67M | -6.58M | -4.04M | -1.26M | -749.68K |
| Net Interest Income | -3.11M | -8.52M | -8M | -8.2M | -11.54M | -4.65M | -4.05M | 0 | -1.58M | -121.14K | -173.26K | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 57K | 0 | 6 | 437 | 199 | 0 |
| Interest Expense | 3.11M | 8.52M | 8M | 8.2M | 11.54M | 4.65M | 4.11M | 3.04M | 1.58M | 121.57K | 173.46K | -84.84K |
| Other Income/Expense | - | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | -18.35M | -38.25M | -13.89M | -15.61M | -12.13M | -3.57M | -21.37M | -10.43M | -8.16M | -4.16M | -1.6M | -664.84K |
| Pretax Margin % | -48.54% | -82.37% | -26.09% | -28.13% | -21.1% | -5.8% | -3430.66% | -1786.29% | -4525.23% | -4939.68% | -873.94% | -264% |
| Income Tax | 148.93K | 578.3K | 523.48K | 113.78K | 753.7K | 1.49M | 3.53M | -30.47K | 1.6M | 14.79K | 0 | -84.84K |
| Effective Tax Rate % | -0.81% | -1.51% | -3.77% | -0.73% | -6.21% | -41.77% | -16.5% | 0.29% | -19.59% | -0.36% | 0% | 12.76% |
| Net Income | -18.43M | -39.48M | -15.31M | -16.68M | -14.85M | -6.72M | -24.9M | -10.4M | -8.15M | -4.16M | -1.6M | -580K |
| Net Margin % | -48.74% | -85.01% | -28.74% | -30.05% | -25.82% | -10.92% | -3996.63% | -1781.07% | -4517.57% | -4939.68% | -873.94% | -230.31% |
| Net Income Growth % | 53.31% | -157.9% | 8.22% | -12.32% | -120.82% | 72.99% | -139.4% | -27.61% | -96.03% | -159.35% | -176.39% | - |
| Net Income (Continuing) | -18.5M | -38.83M | -14.42M | -15.73M | -12.89M | -5.07M | -24.9M | -10.4M | -8.15M | -4.16M | -1.6M | -580K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 24.32M | 24.23M | 26.57M | 25.7M | 22.71M | 20.05M | 0 | 16.41K | 46.88K | 0 | 0 | 0 |
| EPS (Diluted) | -0.30 | -1.03 | -0.21 | -0.09 | -0.33 | -0.50 | -0.72 | -0.42 | -0.34 | -0.18 | -0.06 | -0.02 |
| EPS Growth % | 70.87% | -390.48% | -134.11% | 72.82% | 34% | 30.56% | -71.43% | -23.53% | -88.89% | -180.37% | -157.83% | - |
| EPS (Basic) | -0.30 | -1.03 | -0.21 | -0.09 | -0.33 | -0.50 | -0.72 | -0.42 | -0.34 | -0.18 | -0.06 | -0.02 |
| Diluted Shares Outstanding | 61.47M | 38.16M | 73.67M | 71.41M | 47.19M | 47.31M | 34.54M | 25M | 23.65M | 23.33M | 24.98M | 23.27M |
| Basic Shares Outstanding | 61.47M | 38.16M | 73.67M | 71.41M | 47.19M | 47.31M | 34.54M | 25M | 23.65M | 23.33M | 24.98M | 23.27M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - |
Persistent negative operating leverage
As evidenced by the quarterly financial data, CURR has experienced a consistent decline in revenue, with figures dropping from $13.4M in 2023Q4 to $8.7M by 2025Q4, signaling a significant erosion of the company's core transaction volume within its primary remittance and airtime corridors.
The downward trend in revenue suggests that the company is struggling to maintain its user base or transaction frequency in an increasingly competitive fintech landscape. Investors should monitor whether this contraction reflects a deliberate pivot away from low-margin business or a fundamental loss of market share in its target emerging markets.
According to the reported income statements, CURR's gross margin has fluctuated significantly, ranging from a low of 27.8% in 2024Q3 to a peak of 50.8% in 2025Q3, indicating a lack of structural pricing power and high sensitivity to wholesale cost inputs.
The inability to maintain a stable gross margin suggests that the company may be forced to absorb fluctuating costs from third-party payment processors or airtime suppliers. This volatility complicates the path to profitability, as the business lacks the predictable unit economics required to scale effectively.
Based on the provided financial filings, CURR's operating margin has remained consistently negative, reaching a trough of -141.5% in 2024Q3, which highlights the company's failure to achieve the necessary scale to offset its substantial fixed corporate and administrative overhead expenses.
The persistent gap between gross profit and operating income suggests that SG&A expenses are not scaling efficiently with revenue. This de-leveraging effect implies that the current business model may be fundamentally misaligned with its cost structure, necessitating a significant reduction in operating expenses to reach break-even.
As reported in recent financial statements, CURR has utilized significant stock-based compensation, including $2.2M in both 2025Q1 and 2025Q2, which appears to distort the true economic cost of operations and complicates the assessment of the company's underlying net income performance.
The reliance on equity-based incentives during periods of revenue contraction warrants further investigation into management's alignment with shareholder interests. Investors should be cautious, as these non-cash charges may be masking the severity of the cash burn occurring at the operating level.
Quick answers to the most common questions about buying CURR stock.
Currenc Group, Inc. (CURR) reported a net loss of $18.4M for the fiscal year ending 2025.
Currenc Group, Inc. (CURR) reported an operating income of $-7.9M, resulting in an operating profit margin of -21.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Currenc Group, Inc. (CURR) generated $15.4M in gross profit for the year, representing a gross profit margin of 40.8%. This demonstrates the company's core pricing power and production efficiency.