Intchains (ICG) Q4 2025 Earnings Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Source: NASDAQ.COM
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Analyst Views on ICG
Wall Street analysts forecast ICG stock price to rise
2 Analyst Rating
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 0.949
Low
3.00
Averages
3.50
High
4.00
Current: 0.949
Low
3.00
Averages
3.50
High
4.00
About ICG
Intchains Group Ltd is a holding company mainly engaged in the provision of altcoin mining products. The Company is principally engaged in the provision of altcoin mining products, the strategic acquisition and holding of Ethereum-based cryptocurrencies and the development of World Wide Web 3.0 (Web3) applications. The Company primarily offers mining products including altcoin mining machines that incorporate application-specific integrated circuit (ASIC) chips, as well as ancillary software and hardware. The Company focuses on the design of ASIC chips for blockchain applications. The Company's altcoin mining machines are primarily sold under Goldshell brand. The Company principally conducts its businesses in domestic and overseas markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Intchains (ICG) Q4 2025 Earnings Transcript
See More
Intchains Group Accelerates Ethereum Staking and AI Transformation
- Accelerated Ethereum Staking: As of April 16, 2026, Intchains has staked a total of 8,040 ETH, with 1,000 on the FalconX platform and 7,040 on its proprietary Goldshell Stake platform, while third parties have staked 1,363 ETH, aiming to maximize returns and mitigate risks through a multi-platform strategy.
- AI-Driven Operational Transformation: The company is implementing an AI-enabled operating model that fundamentally redesigns workflows and organizational structures, expecting to enhance efficiency, reduce execution friction, and support data-driven decision-making through automation and intelligent tools.
- Cost Management and Workforce Optimization: Intchains has reduced its total headcount by approximately 20% and plans to further decrease it by 35% compared to the start of 2026, anticipating annual labor cost savings of over RMB 20 million, reflecting a focus on core business activities.
- Future Strategic Direction: The company will continue to expand the application of AI-driven tools, focusing on standardization and scalability, believing that a leaner organizational structure combined with technology-enabled execution will enhance long-term competitiveness and support sustainable value creation.
See More
ICG PLC Executive Share Transfer Notification
- Executive Share Transfer: Antje Hensel-Roth, Chief People and External Affairs Officer of ICG PLC, transferred 36,697 ordinary shares to a partnership on March 19, 2026, indicating a shift in the executive's stake in the company.
- Transaction Disclosure Details: The shares were transferred at a price of nil, suggesting the transaction was executed in exchange for a partnership interest, complying with UK Market Abuse Regulation disclosure requirements to ensure transparency.
- Compliance Requirements: This notification serves as an initial disclosure under the UK Market Abuse Regulation, emphasizing the company's commitment to compliance and transparency, which is crucial for maintaining investor trust.
- Impact of Management Changes: Although the share transfer did not involve cash, it may affect market confidence in executive holdings, prompting investors to monitor subsequent strategic decisions by the management team.
See More
Intchains Group Reports Q4 Revenue Plunge and Significant Losses
- Revenue Plummet: Intchains Group reported a staggering Q4 revenue of $5.2 million for 2025, reflecting a 93% year-over-year decline, which missed expectations and poses severe financial challenges for the company.
- Significant Net Loss: The company recorded a net loss of RMB 130.7 million (approximately $18.7 million), contrasting sharply with a net income of RMB 12.8 million in the same period of 2024, indicating serious operational issues.
- Non-GAAP Adjusted Loss: For Q4 2025, the non-GAAP adjusted net loss was RMB 128.5 million (around $18.4 million), compared to a non-GAAP adjusted net income of RMB 14.8 million in Q4 2024, highlighting a drastic deterioration in profitability.
- Deteriorating Cash Position: As of December 31, 2025, the company's cash and cash equivalents, deposits, and government securities totaled RMB 473.8 million (approximately $67.8 million), down from RMB 541.4 million in the same period of 2024, indicating increased liquidity risk.
See More
INCERGO S.A. Capital Increase and Merger Progress
- Capital Increase: INCERGO S.A. has increased its registered ordinary shares from 5,060,000 to 151,283,387, with the issuance of 146,223,387 new shares registered and effective on the Vienna Stock Exchange, indicating a significant adjustment in the company's capital structure aimed at supporting future technological development and market expansion.
- Merger Progress: This capital increase is closely tied to the merger with Visual Semiconductor Inc., as both parties aim to accelerate research initiatives and expand industrial partnerships through a strategic share purchase agreement, thereby facilitating the global deployment of GF3D solutions.
- Market Capitalization Outlook: Following stronger-than-expected product development progress at CES, INCERGO's market capitalization outlook has been revised from EUR 60 million to approximately EUR 234 million, reflecting robust performance in technology innovation and market demand.
- Strategic Alignment: By aligning shareholding with Visual Semiconductor, INCERGO aims to drive innovation and achieve sustainable shareholder value, marking an important milestone in the company's technology roadmap and further solidifying its position in the semiconductor industry.
See More
ICG plc Reports Q3 Trading Statement with $127bn AUM as of December 31, 2025
- AUM Growth: As of December 31, 2025, ICG's assets under management (AUM) reached $127 billion, with fee-earning AUM at $85 billion, reflecting a 1% quarter-over-quarter increase and an 11% year-over-year growth, indicating robust performance in asset management.
- Strong Fundraising: In the quarter, ICG raised $4.4 billion, including $1.6 billion from Europe IX and $0.6 billion from Metropolitan II, with LP Secondaries II expected to start generating fees in the coming quarters, enhancing revenue streams.
- Improved Liquidity: ICG reported total available liquidity of £1.4 billion as of December 31, 2025, up from £1.3 billion in H1 FY26, while net financial debt decreased from £401 million to £239 million, showcasing improved financial health.
- Transaction Activity Recovery: Despite variability across asset classes, ICG's transaction activity showed modest recovery in the quarter, with a positive total balance sheet return, reflecting the company's adaptability in the market and potential for future growth.
See More
Intchains (ICG) Q4 2025 Earnings Transcript
See More
Intchains Group Accelerates Ethereum Staking and AI Transformation
- Accelerated Ethereum Staking: As of April 16, 2026, Intchains has staked a total of 8,040 ETH, with 1,000 on the FalconX platform and 7,040 on its proprietary Goldshell Stake platform, while third parties have staked 1,363 ETH, aiming to maximize returns and mitigate risks through a multi-platform strategy.
- AI-Driven Operational Transformation: The company is implementing an AI-enabled operating model that fundamentally redesigns workflows and organizational structures, expecting to enhance efficiency, reduce execution friction, and support data-driven decision-making through automation and intelligent tools.
- Cost Management and Workforce Optimization: Intchains has reduced its total headcount by approximately 20% and plans to further decrease it by 35% compared to the start of 2026, anticipating annual labor cost savings of over RMB 20 million, reflecting a focus on core business activities.
- Future Strategic Direction: The company will continue to expand the application of AI-driven tools, focusing on standardization and scalability, believing that a leaner organizational structure combined with technology-enabled execution will enhance long-term competitiveness and support sustainable value creation.
See More
ICG PLC Executive Share Transfer Notification
- Executive Share Transfer: Antje Hensel-Roth, Chief People and External Affairs Officer of ICG PLC, transferred 36,697 ordinary shares to a partnership on March 19, 2026, indicating a shift in the executive's stake in the company.
- Transaction Disclosure Details: The shares were transferred at a price of nil, suggesting the transaction was executed in exchange for a partnership interest, complying with UK Market Abuse Regulation disclosure requirements to ensure transparency.
- Compliance Requirements: This notification serves as an initial disclosure under the UK Market Abuse Regulation, emphasizing the company's commitment to compliance and transparency, which is crucial for maintaining investor trust.
- Impact of Management Changes: Although the share transfer did not involve cash, it may affect market confidence in executive holdings, prompting investors to monitor subsequent strategic decisions by the management team.
See More
Intchains Group Reports Q4 Revenue Plunge and Significant Losses
- Revenue Plummet: Intchains Group reported a staggering Q4 revenue of $5.2 million for 2025, reflecting a 93% year-over-year decline, which missed expectations and poses severe financial challenges for the company.
- Significant Net Loss: The company recorded a net loss of RMB 130.7 million (approximately $18.7 million), contrasting sharply with a net income of RMB 12.8 million in the same period of 2024, indicating serious operational issues.
- Non-GAAP Adjusted Loss: For Q4 2025, the non-GAAP adjusted net loss was RMB 128.5 million (around $18.4 million), compared to a non-GAAP adjusted net income of RMB 14.8 million in Q4 2024, highlighting a drastic deterioration in profitability.
- Deteriorating Cash Position: As of December 31, 2025, the company's cash and cash equivalents, deposits, and government securities totaled RMB 473.8 million (approximately $67.8 million), down from RMB 541.4 million in the same period of 2024, indicating increased liquidity risk.
See More
INCERGO S.A. Capital Increase and Merger Progress
- Capital Increase: INCERGO S.A. has increased its registered ordinary shares from 5,060,000 to 151,283,387, with the issuance of 146,223,387 new shares registered and effective on the Vienna Stock Exchange, indicating a significant adjustment in the company's capital structure aimed at supporting future technological development and market expansion.
- Merger Progress: This capital increase is closely tied to the merger with Visual Semiconductor Inc., as both parties aim to accelerate research initiatives and expand industrial partnerships through a strategic share purchase agreement, thereby facilitating the global deployment of GF3D solutions.
- Market Capitalization Outlook: Following stronger-than-expected product development progress at CES, INCERGO's market capitalization outlook has been revised from EUR 60 million to approximately EUR 234 million, reflecting robust performance in technology innovation and market demand.
- Strategic Alignment: By aligning shareholding with Visual Semiconductor, INCERGO aims to drive innovation and achieve sustainable shareholder value, marking an important milestone in the company's technology roadmap and further solidifying its position in the semiconductor industry.
See More
ICG plc Reports Q3 Trading Statement with $127bn AUM as of December 31, 2025
- AUM Growth: As of December 31, 2025, ICG's assets under management (AUM) reached $127 billion, with fee-earning AUM at $85 billion, reflecting a 1% quarter-over-quarter increase and an 11% year-over-year growth, indicating robust performance in asset management.
- Strong Fundraising: In the quarter, ICG raised $4.4 billion, including $1.6 billion from Europe IX and $0.6 billion from Metropolitan II, with LP Secondaries II expected to start generating fees in the coming quarters, enhancing revenue streams.
- Improved Liquidity: ICG reported total available liquidity of £1.4 billion as of December 31, 2025, up from £1.3 billion in H1 FY26, while net financial debt decreased from £401 million to £239 million, showcasing improved financial health.
- Transaction Activity Recovery: Despite variability across asset classes, ICG's transaction activity showed modest recovery in the quarter, with a positive total balance sheet return, reflecting the company's adaptability in the market and potential for future growth.
See More
