Intchains Group Ltd. Q4 FY2024 earnings call

• The cryptocurrency market rebounded strongly in Q4 2024, with Ethereum and Dogecoin leading the resurgence, benefiting Intchains' operational performance.
• Revenue in Q4 was $10.2M, up 109% Y/Y; non-GAAP adjusted net income rose 54% to $2M.
• Holdings of Ethereum-based cryptocurrencies increased 37% Q/Q to 5,702 units.
• In February 2025, launched Aleo series mining product; introduced new hardware wallet; committed to upgrading Dogecoin series mining machines and accumulating Ethereum.

In the fourth quarter of 2024, Intchains achieved revenue of $10.2 million, a 109% year-over-year increase. Non-GAAP adjusted net income rose by 54% to $2 million. The company's holdings of Ethereum-based cryptocurrencies increased by 37% quarter-on-quarter to 5,702 units. The Goldshell brand segment produces mining products for altcoins, the Ethereum accumulation segment reinvests profits into Ethereum, and the Web3 application segment explores innovative applications. Revenue contribution details weren't explicitly broken down by segment percentage, but overall revenue was driven by the cryptocurrency market rebound.

• Anticipates Q1 2025 revenue of approximately RMB100 million to RMB120 million.
• Projects first half 2025 revenue to reach around RMB200 million to RMB250 million, driven by new product sales and market momentum.
• Believes in a bull cycle for the crypto industry despite current market pressure, with confidence in ongoing Ethereum treasury strategy and product initiatives.

• Forward-looking statements involve known and unknown risks and uncertainties; actual results may differ materially from anticipated results. Investors should review other factors in the company's registration statements and filings with the SEC.

Q: Can you talk about expectations for Dogecoin in 2025 and demand for Dogecoin mining rigs?

A: Intends to reduce costs and improve efficiency of existing Dogecoin mining machines, will launch more competitive products; demand for Dogecoin machines is still strong with contract liability indicating future revenue.

Q: What are expectations for demand for Aleo mining equipment?

A: Aleo mining machines are generating attractive returns, demand is good; will monitor Aleo project development to decide on upgrading mining machines.

Q: What's the company's guidance based on current market pressure?

A: Has relatively conservative assumptions for Q1 revenue guidance but remains optimistic on crypto market in bull cycle.

Q: What are catalysts for the company's growth in 2025?

A: Dogecoin and Litecoin ETF approval, good price performance of altcoins, new initiative projects/technology in crypto market