Overview
- Repurchases of American Depositary Shares are authorized up to $50 million starting December 1, 2025 for a period of up to 12 months.
- Management plans to fund the program with operating cash flow and existing cash, with purchases possible in the open market or through negotiated transactions consistent with Rule 10b-18.
- Q3 2025 results included revenue of $16.3 million, gross profit of $11.8 million, and an operating margin of 8% after a negative 4% margin in Q2.
- Institutional momentum included a 69.8% year-over-year increase in client assets, a 20.4% rise in KYC’ed institutional and high-net-worth clients to 5,116, and approximately $3.1 billion in execution and payment volumes.
- Shares surged more than 80% in early trading, according to CoinCentral, as the company also flagged risks such as potential delays in regulatory approvals tied to its DWM Asset Restructuring.