Chime CEO Chris Britt: Our business is not as subject to the ups and downs of a credit cycle
Ahead of its Nasdaq trading debut on Thursday, Chime CEO Chris Britt sat down with CNBC's David Faber on Wednesday. The online banking services provider is a five-time CNBC Disruptor 50 company.
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Yahoo
15 minutes ago
- Yahoo
Melco Announces Appointment of New Independent Non-Executive Director
MACAU, June 13, 2025 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO) ('Melco' or the 'Company'), a developer, owner, and operator of integrated resort facilities in Asia and Europe, today announced the appointment of Mr. John Peter Ben Wang as an independent non-executive director of the Company, effective as of June 13, 2025. In addition, Mr. Wang has been appointed as the chairman of the Company's audit and risk committee and a member of each of the Company's compensation committee and nominating and corporate governance committee. The board of directors of the Company has also determined that Mr. Wang qualifies as an 'audit committee financial expert' as defined in Item 16A of Form 20-F. Mr. Wang previously served as a director of the Company from November 2006 to August 2016. From 2011 to 2019, Mr. Wang served as Deputy Chairman and Executive Director of Summit Ascent Holdings Limited, a company listed on the Stock Exchange of Hong Kong Limited. Mr. Wang also served as the chief financial officer of Melco International Development Limited from 2004 to 2009. Prior to that, Mr. Wang held senior positions at financial institutions and has substantial experience in finance, accounting and investment banking. Mr. Wang qualified as a chartered accountant with the Institute of Chartered Accountants in England and Wales in 1985. He graduated from the University of Kent at Canterbury in the United Kingdom with a bachelor's degree in accounting in July 1982. Mr. Lawrence Ho, our chairman and chief executive officer, stated 'Melco is delighted to welcome John Wang as one of our independent non-executive directors. His qualifications and experiences will contribute greatly to the Company.' Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Melco Resorts & Entertainment Limited (the 'Company') may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the 'SEC'), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) changes in the gaming market and visitations in Macau, the Philippines and the Republic of Cyprus, (ii) local and global economic conditions, (iii) capital and credit market volatility, (iv) our anticipated growth strategies, (v) risks associated with the implementation of the amended Macau gaming law by the Macau government, (vi) gaming authority and other governmental approvals and regulations, and (vii) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as 'may', 'will', 'expect', 'anticipate', 'target', 'aim', 'estimate', 'intend', 'plan', 'believe', 'potential', 'continue', 'is/are likely to' or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law. About Melco Resorts & Entertainment Limited The Company, with its American depositary shares listed on the Nasdaq Global Select Market (Nasdaq: MLCO), is a developer, owner and operator of integrated resort facilities in Asia and Europe. The Company currently operates City of Dreams ( and Altira Macau ( integrated resorts located in Cotai and Taipa, Macau, respectively. Its business also includes the Grand Dragon Casino, a casino located in Taipa, Macau and Mocha Clubs ( the largest non-casino based operator of electronic gaming machines in Macau. In addition, the Company operates Studio City ( a cinematically-themed integrated resort in Cotai, Macau. In the Philippines, the Company operates and manages City of Dreams Manila ( an integrated resort in the Entertainment City complex in Manila. In Europe, the Company operates City of Dreams Mediterranean, an integrated resort in Limassol, in the Republic of Cyprus ( and licensed satellite casinos in other cities in Cyprus (the 'Cyprus Casinos'). For more information about the Company, please visit The Company is majority owned by Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited, which is in turn majority owned and led by Mr. Lawrence Ho, who is the Chairman, Executive Director and Chief Executive Officer of the Company. For the investment community, please contact:Jeanny Kim Senior Vice President, Group TreasurerTel: +852 2598 3698Email: jeannykim@ For media enquiries, please contact:Chimmy LeungExecutive Director, Corporate Communications Tel: +852 3151 3765Email: chimmyleung@
Yahoo
19 minutes ago
- Yahoo
MoneyHero Group Reports First Quarter 2025 Results
Adjusted EBITDA loss improved by 49% YoY to US$(3.3) million Improving revenue mix with high-margin insurance and wealth revenue accounting for 25% of revenue, up 11 pp YoY Cost of revenue fell by 55% YoY and accounted for 44% of revenue, down 20 pp SINGAPORE , June 13, 2025 (GLOBE NEWSWIRE) -- MoneyHero Limited (Nasdaq: MNY) ('MoneyHero' or the 'Company'), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced its financial results for the first quarter ended March 31, 2025. Management Commentary: Rohith Murthy, Chief Executive Officer, stated: 'We began 2025 with strong momentum, building on the strategic pivot we initiated last year. In Q1, we made significant financial progress — reducing net loss to US$(2.4) million from US$(13.1) million during the same period last year, improving our Adjusted EBITDA loss to US$(3.3) million, and lowering our cost of revenue by 20-points to 44% of total revenue. These improvements reflect our disciplined focus on enhancing revenue quality, operating leverage, and margin expansion. 'Our strategy is delivering. By reallocating resources toward higher-margin verticals such as insurance and wealth, we are steering the business toward sustainable, profitable growth. These verticals now account for 25% of total revenue, an increase of 11-points year-over-year. Notably, our car insurance platform, launched in partnership with bolttech, is outperforming our expectations by driving higher conversion rates and recurring revenue with seamless end-to-end journeys and real-time pricing. 'We have also made substantial operational efficiency gains. Following last year's restructuring to reset our cost base, we are leveraging AI across the organization to maintain a lean cost structure as we scale. From content creation and service automation to engineering workflows, AI is enhancing workforce productivity, reducing inquiry volumes, and improving user experience — all while keeping expenses flat. Consequently, our unit economics continue to improve quarter after quarter. 'Our member base is rapidly expanding, with registered MoneyHero Group Members increasing by 38% year-over-year to over 8 million. Leveraging these insights, we have refined our strategy and optimized our marketing spend to deliver highly personalized offers that boost user engagement – achieving stronger results with marketing costs falling 25% year-over-year. 'We are encouraged to see growing signs of recovery in the Philippines, a key market for us. After a major banking partner exited last year, we recently secured new partnerships with BPI and RCBC, restoring product supply across key verticals. These partnerships significantly strengthen our market position and offerings, and we anticipate a meaningful rebound in our performance during the second half of 2025 as these partnerships scale. 'Looking ahead, our priority throughout the remainder of the first half of 2025 will be to consolidate our recent operational gains. In the second half, we expect to accelerate topline growth by activating our robust pipeline of banking partnerships, strategically scaling our higher-margin insurance business, and launching Credit Hero Club in collaboration with TransUnion. Credit Hero Club will provide consumers with free credit scores, credit monitoring, and personalized financial product recommendations, thereby driving higher user engagement and conversion rates. This strengthens our confidence in accelerating our revenue growth and reaching positive Adjusted EBITDA in the later part of the year. 'With no debt and US$36.6 million in cash, we are well-positioned to invest in high-return growth initiatives and capitalize on opportunities as the regional personal finance comparison sector evolves. Our focus on disciplined execution, quality growth, and prudent capital deployment uniquely position us to lead market consolidation, deliver long-term shareholder value, and scale efficiently in a dynamic environment.' Danny Leung, interim Chief Financial Officer, added: 'Our financial performance during the quarter clearly reflects the progress we are making following our strategic pivot in the second half of 2024, with a strong focus on revenue quality and disciplined operational management. 'While revenue declined 35% year-over-year as part of our strategic focus on improving quality, revenue mix substantially improved with high-margin verticals increasingly accounting for a larger proportion. Personal loans increased from 15% to 17% of total revenue, insurance grew from 8% to 13%, and wealth surged from 6% to 12%, further reducing our reliance on relatively lower-margin credit cards which decreased 13-points to 57%. Cost of revenue also fell by 55% year-over year and accounted for 44% of total revenue, a 20-point decrease. Combined, this significantly improved gross margins and underscores the effectiveness of our strategy to reposition toward higher-quality, sustainable revenue. 'Our operational efficiency initiatives are already proving to be highly effective, with total operating expenses falling by 26% year-over-year across advertising and marketing, technology, employee benefits, and general administrative costs. We are carefully managing costs while strategically investing in growth areas such as customer acquisition, technology re-platforming, and advanced data infrastructure. 'As a direct result of expanding gross margins and reduced operating expenses, net loss narrowed substantially to US$(2.4) million this quarter from US$(13.1) million during the same period last year—a significant improvement of over US$10 million. Adjusted EBITDA loss also improved markedly, narrowing from US$(6.4) million to US$(3.3) million year-over-year, underscoring our clear trajectory toward sustainable profitability. 'Looking ahead, we expect Adjusted EBITDA to improve throughout 2025, supported by steadily expanding margins and sustained operational efficiency. We remain confident in our ability to achieve positive Adjusted EBITDA in the later part of the year. Our strong cash position and disciplined investment strategy will ensure we remain focused on profitable growth and delivering sustained value to our shareholders.' First Quarter 2025 Financial Highlights Revenue decreased by 35% year-over-year to US$14.3 million in the first quarter of 2025, reflecting a strategic shift toward diversifying revenue mix to enhance revenue quality and the high base effect set during the same period last year with significant marketing and customer acquisition spending in the credit card vertical to expand market share. Revenue from insurance products increased by 4% year-over-year to US$1.9 million in the first quarter of 2025, accounting for 13% of total revenue, compared to 8% during the same period last year. Revenue from wealth products increased by 20% year-over-year to US$1.7 million in the first quarter of 2025, accounting for 12% of total revenue, compared to 6% during the same period last year. Cost of revenue decreased by 55% year-over-year to US$6.4 million and accounted for 44% of revenue, a decrease of 20 percentage points from 64% during the same period last year, reflecting improved gross margins through rewards costs optimization. Total operating costs and expenses, excluding net foreign exchange differences, decreased to US$18.3 million in the first quarter of 2025 from US$30.4 million during the same period last year. This reduction was driven by more targeted and cost-efficient marketing campaigns, combined with strategic streamlining of technology costs to simplify workflows, and a comprehensive HR cost restructuring initiative. Net loss for the period narrowed sharply to US$(2.4) million during the first quarter of 2025, compared to US$(13.1) million in the same period last year, supported by lower operating costs as well as lower non-operating expenses including foreign exchange differences and changes in fair value of financial instruments. Adjusted EBITDA loss improved to US$(3.3) million in the first quarter of 2025 from US$(6.4) million in the prior year period. First Quarter 2025 Operational Highlights Monthly Unique Users for the three months ended March 31, 2025, of 5.7 million MoneyHero Group Members, to whom the Company provides more tailored product information and recommendations, grew by 38% year-over-year to 8.1 million as of March 31, 2025 MoneyHero sourced 399,000 applications and had 155,000 approved applications in the first quarter of 2025 Capital Structure The table below summarizes the capital structure of the Company as of March 31, 2025: Share Class Issued and Outstanding Class A Ordinary 29,949,1931 Class B Ordinary 13,254,838 Preference Shares 2,407,575 Total Issued Shares 45,611,606 Employee Equity Options 618,7172 Issued Class A Ordinary Shares Underlying Employee Equity Options (618,717)3 Total Issued and Issuable Shares4 45,611,606 _____________________________________1 Includes 618,717 shares issued to Computershare Hong Kong Investor Services Limited ('Computershare') which are held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder. 2 Includes granted but unexercised options as well as exercised options, pursuant to which the shares have not yet been issued as of March 31, 2025.3 Issued in advance to Computershare and held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder. 4 Public Warrants, Sponsor Warrants, Class A-1 Warrants, Class A-2 Warrants and Class A-3 Warrants are excluded since they are out of the money. Summary of financial / KPI performance For the Three Months Ended March 31, 2025 2024 (US$ in thousands, unless otherwise noted) Revenue 14,314 22,175 Adjusted EBITDA (3,309 ) (6,440 ) Clicks (in thousands)5 2,081 N/A Applications (in thousands)6 399 495 Approved Applications (in thousands)6 155 206 Revenue breakdown For the Three Months Ended March 31, 2025 2024 US$ % US$ % (US$ in thousands, except for percentages) By Geographical Market: Singapore 5,084 35.5 8,944 40.3 Hong Kong 6,396 44.7 7,716 34.8 Taiwan 1,054 7.4 1,402 6.3 Philippines 1,779 12.4 3,979 17.9 Malaysia - - 133 0.6 Total Revenue 14,314 100.0 22,175 100.0 By Source: Online financial comparison platforms 12,638 88.3 18,058 81.4 Creatory 1,676 11.7 4,117 18.6 Total Revenue 14,314 100.0 22,175 100.0 By Vertical: Credit cards 8,173 57.1 15,426 69.6 Personal loans and mortgages 2,495 17.4 3,297 14.9 Wealth 1,663 11.6 1,387 6.3 Insurance 1,892 13.2 1,827 8.2 Other verticals 91 0.6 239 1.1 Total Revenue 14,314 100.0 22,175 100.0 _____________________________________5 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable click data for this period following the transition. Please refer to the section titled 'Key Performance Metrics and Non-IFRS Financial Measures' for more information regarding the change in methodology.6 Due to the nature of our business, there is often a delay in receiving confirmation of the number of Applications and Approved Applications by our commercial partners. As a result, the disclosed figures may utilize estimations if data is unavailable. Key Metrics For the Three Months Ended March 31, 2025 (in millions, except for percentages) Monthly Unique Users7 Singapore 1.3 22.6 % Hong Kong 1.0 17.3 % Taiwan 1.8 31.2 % Philippines 1.7 29.0 % Total 5.7 100.0 % Total Traffic7 Singapore 3.1 17.6 % Hong Kong 3.3 18.7 % Taiwan 5.9 33.5 % Philippines 5.3 30.1 % Total 17.5 100.0 % As of March 31, 2025 2024 (in millions, except for percentages) MoneyHero Group Members Singapore 1.4 16.7 % 1.2 21.0 % Hong Kong 0.9 11.0 % 0.7 12.6 % Taiwan 0.4 4.6 % 0.3 4.5 % Philippines 5.5 67.7 % 3.4 57.2 % Malaysia 0.0 0.0 % 0.3 4.8 % Total 8.1 100.0 % 5.9 100.0 % Conference Call Details The Company will host a conference call and webcast on Friday, June 13, 2025, at 8:00 a.m. Eastern Standard Time / 8:00 p.m. Singapore Standard Time to discuss the Company's financial results. The MoneyHero Limited (NASDAQ: MNY) Q1 2025 Earnings call can be accessed by registering at: Webcast: call: The webcast replay will be available on the Investor Relations website for 12 months following the event. _____________________________________7 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable monthly unique users and total traffic for this period following the transition. Please refer to the section titled 'Key Performance Metrics and Non-IFRS Financial Measures' for more information regarding the change in methodology. About MoneyHero GroupMoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia's largest operating B2C platform. MoneyHero had over 260 commercial partner relationships as at March 31, 2025, and had approximately 5.7 million Monthly Unique Users across its platform for the three months ended March 31, 2025. The Company's backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC's digital economy, please visit Key Performance Metrics and Non-IFRS Financial Measures Historically, we utilized data from Universal Analytics ('UA'), Google's analytics platform, to measure three key business metrics: monthly unique users, traffic, and clicks. Effective July 1, 2024, Google Analytics 4 ('GA4') replaced UA. The methodologies used in GA4 are different and not comparable to the methodologies used in UA. While Google has provided some guidance on these differences, Google has not made available sufficient information for us to assess the impact (whether positive or negative) of this transition on our key business metrics, nor can we quantify the extent of such impact. Furthermore, due to the adoption of GA4, we have adjusted our definitions of these key business metrics to enhance accuracy and align them more closely with previous definitions under UA. Therefore, we are unable to provide comparable data for monthly unique user, traffic, and clicks for any periods prior to July 1, 2024. 'Monthly Unique User' means as a unique user with at least one session in a given month as determined by a unique device identifier from GA4. A session begins when a user opens an app in the foreground or views a page or screen while no other session is currently active (e.g., the prior session has ended). A session concludes after 30 minutes of user inactivity. To measure Monthly Unique Users over a period longer than one month, we calculate the average of the Monthly Unique Users for each month within that period. If an individual accesses a website or app from different devices within a given month, each device is counted as a separate unique user. However, if an individual logs in and accesses a website or app using the same login across different devices, they will only be counted as one unique user. 'Traffic' means the total number of unique sessions in GA4. A unique session is a group of user interactions recorded when a user accesses a website or app within a 30-minute window. The current session concludes when there is 30 minutes of inactivity or users have a change in traffic source. 'MoneyHero Group Members' means (i) users who have login IDs with us in Singapore, Hong Kong and Taiwan, (ii) users who subscribe to our email distributions in Singapore, Hong Kong, Taiwan, the Philippines and Malaysia, and (iii) users who are registered in our rewards database in Singapore and Hong Kong. Any duplications across the three sources above are deduplicated. 'Clicks' means the sum of unique clicks by product item on a tagged 'Apply Now', 'Express Buy', 'Buy' or similar button on our website, including product result pages and blogs. We track Clicks to understand how our users engage with our platforms prior to application submission or purchase, which enables us to further optimize conversion rates. 'Applications' means the total number of product applications submitted by users and confirmed by our commercial partners. 'Approved Applications' means the number of applications that have been approved and confirmed by our commercial partners. In addition to MoneyHero Group's results determined in accordance with IFRS, MoneyHero Group believes that the key performance metrics above and the non-IFRS measures below are useful in evaluating its operating performance. MoneyHero Group uses these measures, collectively, to evaluate ongoing operations and for internal planning and forecasting purposes. MoneyHero Group believes that non-IFRS information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and may assist in comparisons with other companies to the extent that such other companies use similar non-IFRS measures to supplement their IFRS results. These non-IFRS measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with IFRS and may be different from similarly titled non-IFRS measures used by other companies. Accordingly, non-IFRS measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of other IFRS financial measures, such as profit/(loss) for the year/period and profit/(loss) before income tax. Adjusted EBITDA is a non-IFRS financial measure defined as loss for the year/period plus depreciation and amortization, interest income, finance costs, income tax expenses/(credit), equity-settled share-based payment expenses, transaction expenses, changes in the fair value of financial instruments, non-recurring legal fees, and unrealized foreign exchange differences. Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of revenue. A reconciliation is provided for each non-IFRS measure to the most directly comparable financial measure stated in accordance with IFRS. Investors are encouraged to review the related IFRS financial measures and the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures. IFRS differs from U.S. GAAP in certain material respects and thus may not be comparable to financial information presented by U.S. companies. We currently, and will continue to, report financial results under IFRS, which differs in certain significant respects from U.S. GAAP. For the Three Months Ended March 31, 2025 2024 (US$ in thousands) Loss for the period (2,449 ) (13,100 ) Tax expenses - 52 Depreciation and amortization 302 981 Interest income (131 ) (595 ) Finance costs 14 8 EBITDA (2,265 ) (12,654 ) Non-cash items: Changes in fair value of financial instruments (473 ) 1,346 Equity settled share-based payment arising from employee share incentive scheme 441 623 Unrealized foreign exchange (gain)/loss, net (1,012 ) 4,036 Listing and other non-recurring strategic exercises related items: Transaction expenses - 35 Other non-recurring items: Non-recurring legal fees - 174 Adjusted EBITDA (3,309 ) (6,440 ) Revenue 14,314 22,175 Adjusted EBITDA (3,309 ) (6,440 ) Adjusted EBITDA Margin (23.1 )% (29.0 )% Forward Looking Statements This document includes 'forward-looking statements' within the meaning of the United States federal securities laws and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including, but not limited to, statements as to the Group's growth strategies, future results of operations and financial position, market size, industry trends and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including 'outlook,' 'believes,' 'expects,' 'potential,' 'continues,' 'may,' 'will,' 'should,' 'could,' 'seeks,' 'predicts,' 'intends,' 'trends,' 'plans,' 'estimates,' 'anticipates' or the negative version of these words or other comparable words. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which are all subject to change due to various factors including, without limitation, changes in general economic conditions. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this communication are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in business, market, financial, political and legal conditions; the Company's ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industries in which the Company and its subsidiaries (the 'Group') operates; the Group's ability to achieve profitability despite a history of losses; and the Group's ability to implement its growth strategies and manage its growth; the Group's ability to meet consumer expectations; the success of the Group's new product or service offerings; the Group's ability to attract traffic to its websites; the Group's internal controls; fluctuations in foreign currency exchange rates; the Group's ability to raise capital; media coverage of the Group; the Group's ability to obtain adequate insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) and general economic conditions in the countries in which the Group operates; the Group's ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic or any other pandemic on the business of the Group; the success of the Group's strategic investments and acquisitions, changes in the Group's relationship with its current customers, suppliers and service providers; disruptions to the Group's information technology systems and networks; the Group's ability to grow and protect its brand and the Group's reputation; the Group's ability to protect its intellectual property; changes in regulation and other contingencies; the Group's ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; and unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required and technological advancements in the Group's industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the 'Risk Factors' section of the Company's annual report for the year ended December 31, 2024 on Form 20-F (File No.: 001-41838), registration statement on Form F-1 (File No.: 333-275205), and other documents to be filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that the Company currently does not know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect the Company's expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or the Company's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company anticipates that subsequent events and developments may cause their assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing the Company's assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of the Company contained herein are not, and do not purport to be, appraisals of the securities, assets, or business of the Company. For inquiries, please contact: Investor Relations:MoneyHero IR TeamIR@ Media Relations:MoneyHero PR TeamPress@ Unaudited Consolidated Statements of Loss and Other Comprehensive (Loss)/Income For the Three Months Ended March 31, (US$ in thousands, except for loss per share) 2025 2024 Revenue 14,314 22,175 Cost and expenses: Cost of revenue (6,363 ) (14,106 ) Advertising and marketing expenses (4,584 ) (6,132 ) Technology costs (816 ) (1,851 ) Employee benefit expenses (4,354 ) (5,878 ) General, administrative and other operating expenses (2,190 ) (2,387 ) Foreign exchange differences, net 954 (4,112 ) Operating loss (3,040 ) (12,291 ) Other income/(expenses): Other income 131 597 Finance costs (14 ) (8 ) Changes in fair value of financial instruments 473 (1,346 ) Loss before tax (2,449 ) (13,048 ) Income tax expense - (52 ) Loss for the period (2,449 ) (13,100 ) Other comprehensive (loss)/income Other comprehensive (loss)/income that may be classified to profit or loss in subsequent periods (net of tax): Exchange differences on translation of foreign operations (1,378 ) 3,713 Other comprehensive (loss)/income that will not be reclassified to profit or loss in subsequent periods (net of tax): Remeasurement gains on defined benefit plan - 1 Other comprehensive (loss)/income for the period, net of tax (1,378 ) 3,714 Total comprehensive loss for the period, net of tax (3,827 ) (9,386 ) Loss per share attributable to ordinary equity holders of the parent Basic and diluted (0.1 ) (0.3 ) Unaudited Consolidated Statements of Financial Position As of March 31, As of December 31, (US$ in thousands) 2025 2024 NON-CURRENT ASSETS Non-current financial asset 600 600 Intangible assets 1,215 1,018 Property and equipment 174 215 Right-of-use assets 1,034 744 Deposits 36 25 Total non-current assets 3,059 2,601 CURRENT ASSETS Accounts receivable 14,559 13,538 Contract assets 12,571 11,825 Prepayments and other assets 9,413 10,149 Tax recoverable 108 63 Pledged bank deposits 188 185 Cash and cash equivalents 36,634 42,522 Total current assets 73,472 78,282 CURRENT LIABILITIES Accounts and other payable 29,400 30,209 Warrant liabilities 920 1,393 Lease liabilities 625 442 Tax payable 33 32 Provisions 30 71 Total current liabilities 31,007 32,147 NET CURRENT ASSETS 42,465 46,135 TOTAL ASSETS LESS CURRENT LIABILITIES 45,524 48,736 NON-CURRENT LIABILITIES Lease liabilities 424 294 Provisions 42 - Deferred tax liabilities 30 30 Defined benefit liabilities 187 185 Total non-current liabilities 683 509 Net assets 44,841 48,227 EQUITY Issued capital 4 4 Reserves 44,837 48,223 Total equity 44,841 48,227 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
34 minutes ago
- Business Wire
Astria Therapeutics Announces Positive Initial Results from the ALPHA-SOLAR Long-Term Open-Label Trial of Navenibart in Hereditary Angioedema Patients at the European Academy of Allergy and Clinical Immunology Annual Congress
BOSTON--(BUSINESS WIRE)-- Astria Therapeutics, Inc. (NASDAQ:ATXS), a biopharmaceutical company focused on developing life-changing therapies for allergic and immunologic diseases, today announced positive initial results from the target enrollment group in the ongoing ALPHA-SOLAR long-term open-label trial evaluating navenibart (STAR-0215), a monoclonal antibody inhibitor of plasma kallikrein, in hereditary angioedema (HAE) patients. These results demonstrated robust overall reduction in the monthly attack rate (92% mean and 97% median). These results further support navenibart's favorable safety and tolerability profile, and potential every three- (Q3M) and every six-month (Q6M) dosing regimens. 'We are thrilled to share positive initial results from the ALPHA-SOLAR long-term open-label trial,' said Christopher Morabito, M.D., Chief Medical Officer at Astria Therapeutics. 'Results are consistent with navenibart's best-in-class profile that we saw in the ALPHA-STAR Phase 1b/2 trial. With now 12 to 18 months on navenibart, these ALPHA-SOLAR results support navenibart's favorable profile and the potential to administer navenibart every 3 and every 6 months. The Phase 3 ALPHA-ORBIT trial is evaluating both every 3- and every 6-month regimens and is actively enrolling patients. Navenibart's profile and results that we have seen to date demonstrate the potential for navenibart to be the market-leading HAE therapy.' 'The navenibart results in patients to date support the potential for patients to have long-acting protection from their HAE attacks with very low treatment burden,' said Dr. William Yang, M.D., PRCPC, FAAAAI, Chair, Ottawa Allergy Research Corporation and Red Maple Trials Inc. 'We are excited for the Phase 3 ALPHA-ORBIT trial and believe that navenibart's profile with infrequent dosing could allow patients to spend less time thinking about their HAE, and more time living their lives.' ALPHA-SOLAR is a long-term open-label trial in adults with HAE Type 1 or 2 designed to assess long-term safety and efficacy of navenibart. All 16 target enrollment participants from the Phase 1b/2 ALPHA-STAR trial elected to enroll in ALPHA-SOLAR. ALPHA-STAR patients from Cohorts 1 and 2 enrolled in Arm A, and ALPHA-STAR patients from Cohort 3 enrolled in Arm B (described in the table below). Initial results from ALPHA-SOLAR 1: Comparisons to baseline from ALPHA-STAR. Navenibart demonstrated overall attack-freedom of 50% over six months, which is the longest period of follow-up for all 16 patients to date. All patients remain in the ALPHA-SOLAR trial. Navenibart was well-tolerated with no severe or serious treatment-emergent adverse events (TEAEs) and no discontinuations. One participant experienced two treatment-related, mild injection site reactions that resolved without treatment. There were no injection site reactions of pain. The safety profile of navenibart in patients with HAE was favorable through more than 17 months (median / mean) of cumulative follow-up since the initiation of navenibart in ALPHA-STAR. The results shared above are available in a poster presented at the European Academy of Allergy and Clinical Immunology (EAACI) Annual Congress on June 13, 2025. The poster is accessible to conference attendees and also in the Scientific Presentations and Publications section of In February 2025, Astria initiated the pivotal Phase 3 ALPHA-ORBIT trial, which is evaluating navenibart administered Q3M and Q6M and currently enrolling patients. For more information, visit NCT06842823 or About Navenibart: Navenibart is a monoclonal antibody inhibitor of plasma kallikrein in development for the treatment of HAE. Our goal with navenibart is to provide rapid and sustained HAE attack prevention with a validated mechanism and trusted modality administered subcutaneously every 3 and 6 months. We aim to empower people living with HAE to live life without limitations from their disease. About Astria Therapeutics: Astria Therapeutics is a biopharmaceutical company, and our mission is to bring life-changing therapies to patients and families affected by allergic and immunologic diseases. Our lead program, navenibart (STAR-0215), is a monoclonal antibody inhibitor of plasma kallikrein in clinical development for the treatment of hereditary angioedema. Our second program, STAR-0310, is a monoclonal antibody OX40 antagonist in preclinical development for the treatment of atopic dermatitis. Learn more about our company on our website, or follow us on Instagram @AstriaTx and on Facebook and LinkedIn. Forward Looking Statements: This press release contains forward-looking statements within the meaning of applicable securities laws and regulations including, but not limited to, statements regarding: our expectations regarding the potential significance of the results from the navenibart Phase 1b/2 ALPHA-STAR clinical trial and initial results from the ALPHA-SOLAR trial; the goals and objectives of the ALPHA-ORBIT trial; the potential therapeutic benefits of navenibart as a treatment for HAE; the potential attributes and profile of navenibart as a treatment for HAE, including its potential to be a life-changing, market leading preventative treatment for HAE, and our overall vision and goals for the navenibart program; and our corporate strategy and vision, including our mission is to bring life-changing therapies to patients and families affected by allergic and immunologic diseases. The use of words such as, but not limited to, 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'goals,' 'intend,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would,' or "vision," and similar words expressions are intended to identify forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on Astria's current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, future financial performance, results of pre-clinical and clinical results of the Astria's product candidates and other future conditions. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including risks and uncertainties related to: changes in applicable laws or regulations; the possibility that we may be adversely affected by other economic, business, and/or competitive factors; risks inherent in pharmaceutical research and development, such as: adverse results in our drug discovery, preclinical and clinical development activities, the risk that the results of preclinical studies may not be replicated in clinical trials, that the preliminary, initial or interim results from clinical trials may not be indicative of the final results, that the results of early stage clinical trials, such as the results from the ALPHA-STAR Phase 1b/2 clinical trial, may not be replicated in later stage clinical trials, such as the planned Phase 3 development program, the risk that we may not be able to enroll sufficient patients in our clinical trials on a timely basis, and the risk that any of our clinical trials may not commence, continue or be completed on time, or at all; decisions made by, and feedback received from, the U.S. Food and Drug Administration and other regulatory authorities on our regulatory and clinical trial submissions and other feedback from potential clinical trial sites, including investigational review boards at such sites, and other review bodies with respect to navenibart, STAR-0310, and any other future development candidates; our ability to manufacture sufficient quantities of drug substance and drug product for navenibart, STAR-0310, and any other future product candidates on a cost-effective and timely basis, and to develop dosages and formulations for navenibart, STAR-0310, and any other future product candidates that are patient-friendly and competitive; our ability to develop biomarker and other assays, along with the testing protocols therefor; our ability to obtain, maintain and enforce intellectual property rights for navenibart, STAR-0310 and any other future product candidates; our potential dependence on collaboration partners; competition with respect to navenibart, STAR-0310, or any of our other future product candidates; the risk that survey results, modeling data and market research may not be accurate predictors of the commercial landscape for HAE, the ability of navenibart to compete in HAE and the anticipated position and attributes of navenibart in HAE based on clinical data to date, its preclinical profile, pharmacokinetic modeling, market research and other data; risks that any of our clinical trials of STAR-0310 may not commence, continue or be completed on time, or at all; risks that results of preclinical studies of STAR-0310 will not be replicated in clinical trials; our ability to manage our cash usage and the possibility of unexpected cash expenditures; our ability to obtain necessary financing to conduct our planned activities and to manage unplanned cash requirements; the risks and uncertainties related to our ability to recognize the benefits of any additional acquisitions, licenses or similar transactions; and general economic and market conditions; as well as the risks and uncertainties discussed in the 'Risk Factors' section of our Annual Report on Form 10-K for the period ended December 31, 2024 and in other filings that we may make with the Securities and Exchange Commission. New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. Astria may not actually achieve the forecasts or expectations disclosed in our forward-looking statements, and investors and potential investors should not place undue reliance on Astria's forward-looking statements. Neither Astria, nor its affiliates, advisors or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing Astria's views as of any date subsequent to the date hereof.
