Antalpha Platform Holding Co (NAS:ANTA)

Q3 2025 Antalpha Platform Holding Co Earnings Call Transcript

Nov 10, 2025 / 01:00 PM GMT

Release Date Price: $11.53 (+6.74%)

Transcript

Key Points

Positve

Antalpha Platform Holding Co (ANTA) reported a 62% year-over-year revenue growth in Q3 2025, marking the third consecutive quarter of acceleration.
The company facilitated total loans of $2.4 billion, with a significant contribution from supply chain and margin loans.
Antalpha is benefiting from the broader adoption of collateralized loans in the crypto sector, with BDC collateral supporting loans reaching $3.9 billion.
The company is strategically expanding into new growth areas, such as globalization and the Antalpha RWA hub, which are expected to drive significant future growth.
Antalpha's adjusted EBITDA margin improved to 40% in Q3, indicating strong operational execution and profitability.

Negative

Operating expenses excluding funding costs increased by 69% year over year, driven by higher technology, development, sales, and marketing expenses.
The company's expansion into the US market is still in its early stages, with no significant revenue contribution expected in the near term.
Antalpha's growth is heavily reliant on the volatile crypto market, which poses risks to its business model.
The company's net interest margin on margin loans, although improved, remains relatively low at 1.63%, indicating limited pricing power.
Antalpha's reliance on over-collateralized loans may limit its ability to attract new customers who are unable to meet these requirements.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

ANTA.OQ - Antalpha Platform Holding Co
Q3 2025 Antalpha Platform Holding Co Earnings Call
Nov 10, 2025 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and thank you for standing by. Welcome to NLR's 3rd quarter 2025 earnings conference call.

Today's call is being recorded. All participants are now in a listen-only mode.

After managementpar remarks, there will be a question-and-answer session.

I would now like to turn the call over to Mr. Chris Memoni, managing director of the Blue Shirt Group and representative for NLA Investor relations team. Mr. Memoni, please go ahead.

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Unidentified_2 [2]
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Thank you, operator. Please note that our remarks today

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