Amber International Holding Ltd AMBR

Communication ServicesFinancial Technology (Fintech) & InfrastructureSingapore

Last close 1.90 USD on Nov 2, 2026, +9.8% year to date

Quant rating

Quant rating C Rank 83 of 152 in Communication Services

Growth B 48 of 152
Valuation C 100 of 152
Quality C 64 of 152
Revisions C 100 of 152
Momentum C 75 of 152

Wall Street consensus Buy (2.00)Average target 9.00 USD +373.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 165M
Enterprise value: 67M
52-week range: 0.83 – 3.16
3-year range: 0.83 – 12.79
Dividend yield: –
Beta (5 years): 0.59
Shares outstanding: 435M
Next earnings: Nov 24, 2026

About the company

Amber International Holding Limited operates under the brand name Amber Premium. Amber Premium is a provider of institutional crypto financial services and solutions. A subsidiary of Amber Group, Amber Premium delivers institutional-grade market access, execution infrastructure, and investment solutions to help institutions and high-net-worth individuals optimize their digital asset portfolios. The Company offers a regulated, scalable financial ecosystem powered by proprietary blockchain and financial technologies, artificial intelligence (AI)-driven risk management, and quantitative algorithms across CeFi, DeFi, and OTC markets. Its core product offerings include Frictionless Fiat On/Off Ramp Services, over the counter (OTC) Trading and Execution Services, Standard Earn/Structured Products, DeFi Yield Enhance Products, Strategic Funds, and Other Services. The Company provides fiat on/off ramp services that offer clients a gateway into the digital assets ecosystem.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	66.1	32.8	36.1	46.6	308	–
Revenue growth	101.5%	−9.0%	−22.6%	−84.9%	20.8%	−23.7%
EPS (basic, normalized)	0.06	–	–	–	0.10	–
EPS growth	–	–	–	–	–	–
Gross margin	74.8%	51.0%	52.9%	51.5%	29.0%	51.8%
Net margin	7.1%	−73.0%	−37.7%	−93.8%	−4.4%	−40.4%
ROE	7.6%	−95.5%	−24.2%	−24.3%	−4.9%	−28.3%

Balance sheet, last quarter
Cash & short-term investments (mil)	96.8
Current ratio	1.22x
Long-term debt (mil)	0
Net debt (mil)	−96.8
Total equity (mil)	103
Net debt / equity	−0.94x
Net debt / EBITDA	−23.92x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	66.1	+101.5%	1.0x	4.0	–	16.7x	0.06	–	31.7x
2026	64.3	−2.7%	1.0x	4.6	+13.7%	14.7x	0.05	−16.7%	38.0x
2027	83.6	+30.0%	0.8x	21.1	+358.7%	3.2x	0.15	+200.0%	12.7x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	64.3	0.0%	+11.8%	+3.5%	0.05	0.0%	–	+400.0%
2027	83.6	0.0%	+6.0%	+1.7%	0.15	0.0%	+7.1%	+25.0%
2028	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	–	–	–	–	–	21.0	16.3	16.3	10.0	13.9
Sales mean (mil)	–	–	–	–	–	16.4	15.7	17.1	11.4	14.0
Surprise	–	–	–	–	–	+27.8%	+3.8%	−4.5%	−12.0%	−0.6%
EPS reported	–	–	–	–	–	0.00	0.03	0.01	−0.04	0.02
EPS mean	–	–	–	–	–	0.00	0.00	0.01	−0.02	0.00
Surprise	–	–	–	–	–	–	–	0.0%	−100.0%	–

Peer comparison Financial Technology (Fintech) & Infrastructure

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
AMBR Amber International Holding Ltd	165M	−23.92x	7.1%	1.74x	38.0x	12.7x	14.7x	3.2x
YDKG Yueda Digital Holding	5M	–	−280.4%	0.02x	–	–	–	–
Mean		−23.92x	−136.7%	0.88x	38.0x	12.7x	14.7x	3.2x
Median		−23.92x	−136.7%	0.88x	38.0x	12.7x	14.7x	3.2x

Technical analysis

1M+5.0%
3M+37.7%
1Y+2.2%
3Y+1.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Amber International Holding Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	66.1	32.8	36.1	46.6	308	255
Cost of revenue	16.7	16.1	17.0	22.6	219	181
Gross profit	49.4	16.7	19.1	24.0	89.2	73.3
Selling, general & administrative expenses	35.3	33.2	28.0	34.5	91.9	69.4
Research & development	10.8	0.9	0.9	1.8	9.4	5.3
Depreciation/amortization	0.7	0	0.2	0.3	0.8	0.4
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	3.5	2.7	18.4	4.0	0
Other operating expenses	0	0	0	0	0	0
Operating income	2.6	−20.8	−12.7	−31.0	−16.9	−1.8
Net interest income (expense)	−0.1	−0.6	−0.7	−4.9	−3.0	−16.3
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	1.1	−2.5	0.4	−6.2	5.9	4.9
Net income before taxes	3.6	−24.0	−13.0	−42.1	−14.0	−13.2
Provision for taxes	−1.1	−0.1	0.6	1.6	2.5	1.6
Minority interest	–	0.1	0.1	0	3.0	2.3
Equity in affiliates	−0.1	−0.1	−0.1	−0.1	−0.1	−0.1
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	4.7	−23.9	−13.6	−43.7	−13.6	−12.6
Extraordinary items	−0.9	−5.1	−25.1	−157	–	–
Net income	3.8	−29.0	−38.7	−201	−13.6	−12.6
EBIT, normalized	2.6	−17.3	−10.0	−12.6	−12.9	−1.8
EBITDA, normalized	4.0	−17.3	−8.8	−8.8	−9.0	2.8
Basic EPS, normalized	0.06	–	–	–	0.10	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Amber International Holding Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	86.3	26.2	56.7	89.8	60.3	76.0
Receivables	94.7	11.3	60.9	69.7	206	157
Total inventory	–	–	–	–	–	–
Prepaid expenses	–	9.9	12.8	19.4	44.2	39.7
Other current assets	16.0	1.2	29.3	25.8	40.3	48.8
Total current assets	197	48.6	160	205	351	321
Property, plant & equipment	1.6	0.5	0.1	1.5	5.8	4.5
Goodwill	53.1	–	0	0	81.7	74.4
Intangibles	2.9	0.1	0	1.0	53.7	56.4
Long-term investments	1.3	0.1	3.4	6.2	12.5	9.1
Note receivable	0.5	–	–	–	–	–
Other long-term assets	0	0.3	0.5	8.3	2.8	4.4
Total assets	256	49.6	164	222	508	470
Liabilities
Accounts payable	13.4	5.2	40.3	41.7	66.6	43.1
Payable/accrued	–	–	–	–	–	–
Accrued expenses	0.9	15.1	25.6	30.8	24.8	25.5
Short-term debt	0	1.9	38.4	44.3	75.5	56.0
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	131	11.2	15.7	21.0	33.9	38.2
Total current liabilities	145	33.5	120	138	201	163
Long-term debt	0	0	0	0	0	0
Minority interest	–	1.4	4.1	4.4	7.2	7.0
Other liabilities	0.8	1.7	2.4	4.8	15.3	28.2
Total liabilities	146	36.6	127	147	223	198
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0.4	0	0.1	0	0	0
Additional paid-in capital	90.5	503	531	529	526	492
Retained earnings (accumulated deficit)	20.3	−489	−461	−422	−221	−208
Treasury stock	−0.9	0	−28.7	−28.5	−20.9	−10.3
Other equity	0	−0.3	−4.1	−4.1	0.9	−2.5
Total equity	110	13.0	37.1	74.9	284	272
Total liabilities & shareholders' equity	256	49.6	164	222	508	470

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Amber International Holding Ltd, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1.3	−29.1	−38.9	−203	−16.6	−14.9
Depreciation, depletion & amortization	1.5	5.2	1.2	6.5	6.7	6.5
Deferred taxes	–	0	0.5	−11.6	−0.9	−1.2
Non-cash items	−37.4	−1.6	7.6	186	28.6	24.8
Changes in working capital	10.2	3.7	10.2	92.6	−37.4	−34.8
Cash from operations	−24.6	−21.8	−19.4	71.1	−19.7	−19.6
Investing activities
Capital expenditures	−0.4	−0.1	−0.1	−0.5	−1.6	−1.1
Other investing cash flows	11.1	−0.9	−0.9	−3.5	−20.8	−26.6
Cash from investing	10.7	−1.0	−1.0	−4.0	−22.4	−27.7
Financing activities
Financing cash flow items	–	−1.5	–	0	0	−6.9
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	37.3	−35.0	−6.1	−37.3	24.7	86.9
Cash from financing	37.3	−36.5	−6.1	−37.3	24.7	80.0
Foreign exchange effects	0.1	1.5	−1.3	−2.1	0.5	1.0
Net change in cash	23.6	−57.9	−27.8	27.7	−16.8	33.7
Free cash flow	−24.9	−21.9	−19.5	70.6	−21.3	−20.8

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.