Revenue growth remains highly erratic, evidenced by a 58.7% increase in 2025Q2, while high corporate overhead continues to compress profitability despite a 71.3% NOI margin.
| Revenue | 100.26M | 66.09M | 32.81M | 133.22M | 169.08M | 307.7M | 254.75M | 199.41M | 160.02M | 125.26M | 95.36M | 65.24M | 64.83M |
| Revenue Growth % | -33.5% | 101.45% | -75.37% | -21.21% | -45.05% | 20.79% | 27.75% | 24.62% | 27.75% | 31.36% | 46.16% | - | - |
| Property Operating Expenses | 59.18M | 16.65M | 16.06M | 98.38M | 173.21M | 218.55M | 181.48M | 142.7M | 120.9M | 95.73M | 61.05M | 34.53M | 27.49M |
| Net Operating Income (NOI) | 41.08M | 49.44M | 16.75M | 34.84M | -4.13M | 89.15M | 73.26M | 56.7M | 39.12M | 29.52M | 34.31M | 30.71M | 37.35M |
| NOI Margin % | 40.97% | 74.8% | 51.05% | 26.15% | -2.44% | 28.97% | 28.76% | 28.44% | 24.45% | 23.57% | 35.98% | 47.07% | 57.6% |
| Operating Expenses | 70.62M | 46.63M | 34.11M | 76.06M | 101.04M | 102.04M | 75.03M | 68.85M | 66.57M | 44.7M | 63.62M | 52.24M | 64.22M |
| G&A Expenses | 50.85M | 36.03M | 33.18M | 65.27M | 96.28M | 92.52M | 69.68M | 63.27M | 55.84M | 38.92M | 55.03M | 44.13M | 15.76M |
| EBITDA | -29.53M | 4.26M | -17.23M | -39.63M | -187.69M | -6.22M | 954K | -5.49M | -22.23M | -9.59M | -23.48M | -18.34M | -21.94M |
| EBITDA Margin % | -29.46% | 6.45% | -52.51% | -29.75% | -111% | -2.02% | 0.37% | -2.75% | -13.89% | -7.65% | -24.63% | -28.12% | -33.84% |
| Depreciation & Amortization | 1.72M | 1.45M | 133K | 1.18M | 6.48M | 6.67M | 6.5M | 6.66M | 5.23M | 5.58M | 5.82M | 3.18M | 4.94M |
| D&A / Revenue % | 1.71% | 2.2% | 0.41% | 0.89% | 3.83% | 2.17% | 2.55% | 3.34% | 3.27% | 4.46% | 6.11% | 4.88% | 7.62% |
| Operating Income | -31.25M | 2.81M | -17.36M | -40.81M | -194.17M | -12.89M | -5.55M | -12.14M | -27.45M | -15.17M | -29.31M | -21.52M | -26.88M |
| Operating Margin % | -31.17% | 4.25% | -52.92% | -30.63% | -114.84% | -4.19% | -2.18% | -6.09% | -17.16% | -12.11% | -30.74% | -32.99% | -41.46% |
| Interest Expense | 0 | 71K | 511K | 1.43M | 2.06M | 4.09M | 2.65M | 1.92M | 773K | 551K | 713K | 107K | 275.07K |
| Interest Coverage | - | 51.68x | -46.11x | -25.72x | -102.99x | -2.41x | -3.97x | -4.43x | -40.34x | -42.69x | -37.02x | -374.99x | -97.71x |
| Non-Operating Income | -41.11M | -858K | 6.2M | -4.08M | 17.69M | -3.03M | 8.75M | -3.66M | 3.73M | 8.35M | -2.91M | 18.6M | -2.01K |
| Pretax Income | 1.64M | 3.6M | -24.07M | -38.16M | -213.91M | -13.95M | -13.16M | -10.39M | -31.96M | -24.07M | -27.11M | -40.23M | -27.15M |
| Pretax Margin % | 1.63% | 5.44% | -73.38% | -28.65% | -126.52% | -4.53% | -5.17% | -5.21% | -19.97% | -19.22% | -28.43% | -61.66% | -41.88% |
| Income Tax | 608K | -1.07M | -68K | 647K | -11.18M | 2.54M | 1.63M | 47K | 655K | 548K | 222K | -555K | 552.62K |
| Effective Tax Rate % | 37.1% | -29.66% | 0.28% | -1.7% | 5.23% | -18.21% | -12.41% | -0.45% | -2.05% | -2.28% | -0.82% | 1.38% | -2.04% |
| Net Income | -3.79M | 3.75M | -29.01M | -38.69M | -202.73M | -16.49M | -14.79M | -10.44M | -32.41M | -24.62M | -27.33M | -39.71M | -27.7M |
| Net Margin % | -3.79% | 5.68% | -88.42% | -29.04% | -119.9% | -5.36% | -5.81% | -5.24% | -20.25% | -19.65% | -28.66% | -60.87% | -42.73% |
| Net Income Growth % | 97.85% | 112.93% | 25.03% | 80.92% | -1129.34% | -11.46% | -41.7% | 67.78% | -31.64% | 9.92% | 31.18% | - | - |
| Funds From Operations (FFO) | -2.08M | 5.2M | -28.87M | -37.51M | -196.25M | -9.82M | -8.29M | -3.79M | -27.18M | -19.04M | -21.51M | -36.53M | -22.76M |
| FFO Margin % | -2.07% | 7.87% | -88.01% | -28.16% | -116.07% | -3.19% | -3.26% | -1.9% | -16.99% | -15.2% | -22.55% | -56% | -35.11% |
| FFO Growth % | 237.39% | 118.02% | 23.02% | 80.89% | -1898.46% | -18.38% | -119.15% | 86.08% | -42.81% | 11.49% | 41.13% | - | - |
| FFO per Share | -0.57 | 1.50 | -14.06 | -18.34 | -97.31 | -5.09 | -5.27 | -3.31 | -25.69 | -34.16 | -40.85 | -78.32 | -0.11 |
| FFO Payout Ratio % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| EPS (Diluted) | -1.05 | 0.75 | -14.12 | -18.90 | -100.50 | -8.55 | -9.40 | -9.15 | -30.65 | -44.20 | -51.90 | -85.15 | -1.34 |
| EPS Growth % | 94.77% | 105.31% | 25.29% | 81.19% | -1075.44% | 9.04% | -2.73% | 70.15% | 30.66% | 14.84% | 39.05% | - | - |
| EPS (Basic) | - | 0.75 | -14.12 | -18.90 | -100.50 | -8.55 | -9.40 | -9.15 | -30.65 | -44.20 | -52.00 | -85.15 | -0.97 |
| Diluted Shares Outstanding | 3.62M | 3.47M | 2.05M | 2.04M | 2.02M | 1.93M | 1.57M | 1.14M | 1.06M | 557.28K | 526.46K | 466.44K | 206.24M |
Frontier market regulatory exposure
As reported in the quarterly financial statements, AMBR experienced a 58.7% revenue increase in 2025Q2, yet the underlying trajectory remains highly erratic, suggesting that top-line growth is driven by discrete project completions rather than a consistent, recurring stream of rental income or management fees.
The significant revenue fluctuations observed over the last ten quarters indicate that AMBR's business model is heavily reliant on transactional development milestones. Investors should monitor whether the company can transition toward a more predictable income base, as the current reliance on project-based recognition creates substantial uncertainty regarding future cash flow stability.
According to the provided income statement data, while NOI margins reached 71.3% in 2025Q2, the company continues to struggle with high corporate overhead, which significantly compresses overall profitability and suggests that the current scale may be insufficient to absorb existing administrative and selling expenses.
The wide disparity between property-level NOI and bottom-line performance warrants further investigation into the company's cost structure. It appears that the firm's administrative burden is disproportionately high, which may indicate that the current organizational footprint is built for a larger scale than what is currently being realized.
Based on the reported figures, FFO per share has exhibited extreme swings, ranging from a negative $65.06 in 2022Q4 to a positive $0.34 in 2025Q2, which underscores the inherent difficulty in assessing the quality of earnings for a developer operating within frontier market jurisdictions.
The erratic FFO trajectory suggests that investors should exercise caution when using these metrics as a proxy for recurring cash flow. The lack of consistent positive FFO indicates that the company's earnings quality is currently low, and the sustainability of recent improvements remains unproven without further evidence of operational maturity.
As indicated by the historical income statement data, the company's reliance on project-based accounting may obscure the true economic reality of its operations, particularly given the significant swings in net income that appear disconnected from steady-state property performance or long-term value creation.
The potential for non-recurring items to distort the income statement warrants a skeptical view of the recent growth figures. Analysts should monitor whether the company is capitalizing costs that might otherwise be considered recurring operating expenses, as this could artificially inflate the appearance of profitability in the short term.
Quick answers to the most common questions about buying AMBR stock.
For fiscal year 2025, Amber International Holding Ltd (AMBR) reported total revenue of $66.1M. This represents a 1.9% increase compared to $64.8M in 2014.
Amber International Holding Ltd (AMBR) is profitable, generating $3.8M in net income for the fiscal year ending 2025 with a net profit margin of 5.7%.
Amber International Holding Ltd (AMBR) reported an operating income of $2.8M, resulting in an operating profit margin of 4.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Amber International Holding Ltd (AMBR) generated $49.4M in gross profit for the year, representing a gross profit margin of 74.8%. This demonstrates the company's core pricing power and production efficiency.