Amber International Holding Limited - Sponsored ADR
AMBR Technology Software Infrastructure
Amber International Holding Limited - Sponsored ADR’s revenue for fiscal 2025 (year ended December 2025) was $66.1 million, up 784.1% from fiscal 2024. In the quarter to June 2026, revenue fell 26.5%, EPS grew 57.0% and free cash flow grew 274.3%, each against the same quarter a year earlier.
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Amber International Holding Limited - Sponsored ADR (AMBR) Altman Z-score
Amber International Holding Limited - Sponsored ADR's Altman Z-score for fiscal 2025 is 0.97, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 0.97 | (2.15) |
| FY2024 | 3.12 | 6.59 |
| FY2023 | −3.47 | 0.79 |
| FY2022 | −4.27 | (5.77) |
| FY2021 | 1.50 | (0.93) |
| FY2020 | 2.43 | 2.08 |
| FY2019 | 0.35 | (0.12) |
| FY2018 | 0.47 | (1.41) |
| FY2017 | 1.88 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.20 | — | 0.24 | |
| Retained earnings / total assets | (0.13) | — | −0.18 | |
| EBIT / total assets | 0.01 | — | 0.03 | |
| Market value of equity / total liabilities | 1.03 | — | 0.62 | |
| Sales / total assets | 0.26 | — | 0.26 | |
| Altman Z-score | Distress zone | 0.97 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.76 | ||
Z and Z″ put Amber International Holding Limited - Sponsored ADR in different zones: distress zone by Z, grey zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| EXOD Exodus Movement, Inc. compare | 14.5× |
| ZSQR Z Squared Inc. compare | 5.7× |
| SKYA SkyAI, Inc. compare | 1.7× |
| ZENA ZenaTech, Inc. compare | 1.6× |
| AMBR Amber International Holding Limited - Sponsored ADR | 1.0× |
| SANG Sangoma Technologies Corporation compare | 0.5× |
| DVLT Datavault AI Inc. compare | 0.0× |
| TCX Tucows Inc. compare | 0.0× |
| PDYN Palladyne AI Corp. compare | −2.8× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets