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Side-by-side financial comparison of Currenc Group Inc. (CURR) and Metalpha Technology Holding Ltd (MATH). Click either name above to swap in a different company.
Metalpha Technology Holding Ltd is the larger business by last-quarter revenue ($12.0M vs $10.1M, roughly 1.2× Currenc Group Inc.). Metalpha Technology Holding Ltd runs the higher net margin — -24.0% vs -46.5%, a 22.5% gap on every dollar of revenue. On growth, Currenc Group Inc. posted the faster year-over-year revenue change (-23.3% vs -39.0%).
Metalpha Technology Holding LtdMATHEarnings & Financial Report
Metalpha Technology Holding Ltd is a global fintech firm specializing in digital asset wealth management, institutional-grade crypto investment services, and Web3 ecosystem infrastructure support. It serves professional investors, financial institutions, and high-net-worth clients across Asia, North America and Europe, with core segments including structured digital asset products, risk management solutions and DeFi technology development.
CURR vs MATH — Head-to-Head
Income Statement — Q1 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $10.1M | $12.0M |
| Net Profit | $-4.7M | $-2.9M |
| Gross Margin | 31.8% | 28.3% |
| Operating Margin | -43.0% | -24.2% |
| Net Margin | -46.5% | -24.0% |
| Revenue YoY | -23.3% | -39.0% |
| Net Profit YoY | -54.0% | -147.7% |
| EPS (diluted) | $-0.13 | $-0.07 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 25 | — | $12.0M | ||
| Q1 25 | $10.1M | $24.8M | ||
| Q3 24 | $11.3M | $19.7M | ||
| Q1 24 | $13.1M | — | ||
| Q3 23 | $12.7M | — |
| Q3 25 | — | $-2.9M | ||
| Q1 25 | $-4.7M | $9.8M | ||
| Q3 24 | $-5.0M | $6.0M | ||
| Q1 24 | $-3.0M | — | ||
| Q3 23 | $-3.8M | — |
| Q3 25 | — | 28.3% | ||
| Q1 25 | 31.8% | 85.7% | ||
| Q3 24 | 27.8% | 49.5% | ||
| Q1 24 | 33.6% | — | ||
| Q3 23 | 32.5% | — |
| Q3 25 | — | -24.2% | ||
| Q1 25 | -43.0% | 39.3% | ||
| Q3 24 | -141.5% | 38.9% | ||
| Q1 24 | -10.8% | — | ||
| Q3 23 | -18.2% | — |
| Q3 25 | — | -24.0% | ||
| Q1 25 | -46.5% | 39.6% | ||
| Q3 24 | -44.1% | 30.7% | ||
| Q1 24 | -23.2% | — | ||
| Q3 23 | -30.1% | — |
| Q3 25 | — | $-0.07 | ||
| Q1 25 | $-0.13 | $0.25 | ||
| Q3 24 | $-0.13 | $0.16 | ||
| Q1 24 | $-0.09 | — | ||
| Q3 23 | $-0.11 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $62.3M | $10.1M |
| Total DebtLower is stronger | $3.7M | $101.2K |
| Stockholders' EquityBook value | $-68.4M | $35.1M |
| Total Assets | $110.8M | $413.8M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $10.1M | ||
| Q1 25 | $62.3M | $6.9M | ||
| Q3 24 | $49.1M | $3.8M | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
| Q3 25 | — | $101.2K | ||
| Q1 25 | $3.7M | $188.0K | ||
| Q3 24 | $20.1M | $275.1K | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
| Q3 25 | — | $35.1M | ||
| Q1 25 | $-68.4M | $36.6M | ||
| Q3 24 | $-47.0M | $25.3M | ||
| Q1 24 | $-10.9M | — | ||
| Q3 23 | $-10.2M | — |
| Q3 25 | — | $413.8M | ||
| Q1 25 | $110.8M | $246.8M | ||
| Q3 24 | $115.0M | $237.2M | ||
| Q1 24 | $54.5M | — | ||
| Q3 23 | $82.0M | — |
| Q3 25 | — | 0.00× | ||
| Q1 25 | — | 0.01× | ||
| Q3 24 | — | 0.01× | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.5M | $3.3M |
| Free Cash FlowOCF − Capex | $-1.7M | — |
| FCF MarginFCF / Revenue | -16.5% | — |
| Capex IntensityCapex / Revenue | 1.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $3.3M | ||
| Q1 25 | $-1.5M | $16.2M | ||
| Q3 24 | $-11.3M | $-16.1M | ||
| Q1 24 | $-221.0K | — | ||
| Q3 23 | $-10.5M | — |
| Q3 25 | — | — | ||
| Q1 25 | $-1.7M | — | ||
| Q3 24 | — | — | ||
| Q1 24 | $-233.0K | — | ||
| Q3 23 | — | — |
| Q3 25 | — | — | ||
| Q1 25 | -16.5% | — | ||
| Q3 24 | — | — | ||
| Q1 24 | -1.8% | — | ||
| Q3 23 | — | — |
| Q3 25 | — | — | ||
| Q1 25 | 1.7% | — | ||
| Q3 24 | — | — | ||
| Q1 24 | 0.1% | — | ||
| Q3 23 | — | — |
| Q3 25 | — | — | ||
| Q1 25 | — | 1.64× | ||
| Q3 24 | — | -2.66× | ||
| Q1 24 | — | — | ||
| Q3 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CURR
| Sales Of Airtime | $5.5M | 54% |
| Fiat Remittance Service | $4.4M | 44% |
MATH
Segment breakdown not available.
