DigiAsia Corp (FAAS) Reports Strong First Half 2024 Financial Results, Achieves 45% Revenue Growth vs First Half of 2023

New York, New York--(Newsfile Corp. - June 13, 2025) -  DigiAsia Corp. (NASDAQ: FAAS) ("DigiAsia"), Indonesia's leading Fintech-as-a-Service (FaaS) platform, today announced its unaudited financial results for the first half of 2024, ended June 30, 2024. The results highlight strong improved operating leverage, and clear progress toward profitability as enterprise demand for embedded finance continues to accelerate across Indonesia.

First Half 2024 Financial Highlights (Unaudited)

• Revenue: $51,110,222, up 45% from $35,321,776 in 1H 2023
• Net Loss: Reduced to -$1,478,828, improving 59% from -$3,675,431 in 1H 2023

"We are pleased to report strong growth in the first half of 2024, with improvements across all key financial metrics," said Prashant Gokarn, Co-CEO of DigiAsia. "Comparing our performance in the first half of 2024 to the same period in 2023, Revenue increased by 45% to over $51 million, demonstrating the operating leverage of our model. Our significantly narrowed net loss reflects prudent execution and demand for our API-driven platform in Indonesia."

Business Commentary

• DigiAsia's API-first platform, which powers digital payments, lending, eKYC, and insurance, was the primary growth driver, supported by increased enterprise integration and higher transaction volume.
• Management attributes the company's positive EBITDA and narrowing net loss to operational discipline, expanding digital infrastructure, and accelerating platform adoption.

Looking Ahead

Building on its strong first-half 2024 performance, DigiAsia is actively advancing key strategic initiatives for 2025. Among these is the planned establishment of a corporate Bitcoin (BTC) treasury, designed to enhance long-term balance sheet strength and align with the company's digital-first asset strategy. The BTC treasury initiative reflects DigiAsia's commitment to leveraging blockchain-based financial infrastructure as a complement to its embedded fintech services.

About DigiAsia Corp.

DigiAsia Corp. (NASDAQ: FAAS) is a Fintech-as-a-Service (FaaS) provider operating a B2B2X model across emerging markets. DigiAsia's embedded finance APIs empower SMEs with seamless financial service integration. DigiAsia's solutions drive financial inclusion. Offerings include cashless payments, digital wallets, and digital banking. DigiAsia is expanding its AI-powered FaaS solutions across Southeast Asia, India, and the Middle East.

Non-U.S. GAAP Financial Measures

This press release includes information about certain financial measures not prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). These non-GAAP measures lack standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures from other companies. The Company's management and board utilize these non-GAAP financial measures to assess performance. The Company offers these non-GAAP measures to investors because management believes they help identify underlying trends in ongoing operations when viewed alongside GAAP results and reconciliations.

Forward-Looking Statement:

This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995, identified by words like "believe," "expect," or "will." These statements, including DigiAsia's operations and financial performance, involve risks and uncertainties (e.g., regulations, competition, economic conditions) detailed in our SEC filings. Actual results may differ. We disclaim any obligation to update these statements, except as required by law.

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