Crunchfish
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Crunchfish (CFISH) investor relations material

Crunchfish Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary12 Feb, 2026

Executive summary

  • The company underwent a strategic shift to focus solely on Digital Cash and offline payments, discontinuing the gesture business to streamline operations and reduce costs.

  • The business model was clarified to target both system operators and service providers, with expansion beyond India to Southeast Asia, Pakistan, Africa, and selection by the Bank of England for the Digital Pound Lab.

  • Key milestones included system-level integration work with payment operators in India and the clarification of a dual licensing business model for offline payments.

Significant events and developments

  • Collaboration with NPCI in India advanced, with daily meetings and SDK integration for offline payments, and two major banks participating in the pilot.

  • The company was selected for the Bank of England's Digital Pound sandbox and Lab, and continues discussions with the ECB for the Digital Euro.

  • Commercial offers and integration projects were made with major closed-loop wallet providers, such as GCash in the Philippines, enabling faster market entry.

  • Showcased solutions at major industry events, including SIBOS, Global Fintech Fest, and Singapore FinTech Festival.

  • Released a white paper comparing immediate and deferred offline payment models to communicate the advantages of the governed model.

Outlook and guidance

  • The focus for 2024 and beyond is on execution, revenue generation, and expanding system-level integrations globally.

  • Closed-loop wallets in Asia are identified as a fast-track route for large-scale deployment and revenue due to their single decision-maker structure.

  • Ongoing discussions for FRAND licensing with major payment operators and further global expansion are anticipated.

Explain NPCI commercial deal structure
How does Crunchfish's model benefit banks?
Describe closed-loop wallet revenue opportunities
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Frequently asked questions

Crunchfish is a deep tech company specializing in the development of technology solutions, including a Digital Cash platform aimed at facilitating offline payment capabilities for banks, payment services, and Central Bank Digital Currency (CBDC) implementations. Additionally, Crunchfish is known for its Gesture Interaction technology, which is designed to enable touchless interaction with devices, finding applications in augmented reality/virtual reality (AR/VR) and the automotive industry. The company is headquartered in Malmö, Sweden, and its shares are listed on the Nasdaq First North.

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