Tearsheet

Currenc (CURR)


Market Price (10/31/2025): $2.82 | Market Cap: $131.2 Mil
Sector: Information Technology | Industry: Application Software

Currenc (CURR)


Market Price (10/31/2025): $2.82
Market Cap: $131.2 Mil
Sector: Information Technology
Industry: Application Software

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -30%
  Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -33 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -81%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -49%
  Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 72x
2   Stock price has recently run up significantly
6M Rtn6 month market price return is 104%
3   Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -18%, Rev Chg QQuarterly Revenue Change % is -21%
4   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -36%
5   High stock price volatility
Vol 12M is 266%
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -30%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -49%
2 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -33 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -81%
3 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 72x
4 Stock price has recently run up significantly
6M Rtn6 month market price return is 104%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -18%, Rev Chg QQuarterly Revenue Change % is -21%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -36%
7 High stock price volatility
Vol 12M is 266%

Market Valuation & Key Metrics

CURR Stock


Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
CURR Return-----61%-8%
Peers Return13%-2%-7%6%52%-19%35%
S&P 500 Return16%27%-19%24%23%16%110%

Monthly Win Rates [3]
CURR Win Rate----33%33% 
Peers Win Rate13%10%5%21%33%48% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
CURR Max Drawdown------80% 
Peers Max Drawdown-5%-4%-8%-1%-4%-34% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: ADSK, HIT, BIYA, BLIV, BMR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

CURR has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.

Unique KeyEventXLKS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-34.0%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven51.6%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven278 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-31.5%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven46.0%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven79 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-24.1%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven31.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven105 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-53.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven115.3%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1183 days1480 days

Compare to


In The Past

SPDR Select Sector Fund's stock fell -34.0% during the 2022 Inflation Shock from a high on 12/27/2021. A -34.0% loss requires a 51.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Currenc (CURR)

Better Bets than Currenc (CURR)

Trade Ideas

Select past ideas related to CURR. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-4.2%-4.2%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
6.1%6.1%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
18.8%18.8%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
3.7%3.7%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-10.5%-10.5%-10.5%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADBE_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025ADBEAdobeMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-4.2%-4.2%-6.7%
CRM_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025CRMSalesforceMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
6.1%6.1%-0.6%
MPWR_9302025_Monopoly_xInd_xCD_Getting_Cheaper09302025MPWRMonolithic Power SystemsMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
18.8%18.8%-1.8%
POWI_9262025_Dip_Buyer_High_CFO_Margins_ExInd_DE09262025POWIPower IntegrationsDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
3.7%3.7%-13.4%
ROP_9262025_Monopoly_xInd_xCD_Getting_Cheaper09262025ROPRoper TechnologiesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-10.5%-10.5%-10.5%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Currenc

Financials

CURRADSKHITBIYABLIVBMRMedian
NameCurrenc Autodesk Health I.Baiya In.BeLive Beamr Im. 
Mkt Price2.89300.772.610.303.602.592.75
Mkt Cap0.164.10.1---0.1
Rev LTM416,60527---41
Op Inc LTM-331,5151---1
FCF LTM21,8471---2
FCF 3Y Avg-1,704----1,704
CFO LTM21,9254---4
CFO 3Y Avg-1,775----1,775

Growth & Margins

CURRADSKHITBIYABLIVBMRMedian
NameCurrenc Autodesk Health I.Baiya In.BeLive Beamr Im. 
Rev Chg LTM-18.1%13.8%29.7%---13.8%
Rev Chg 3Y Avg-11.7%----11.7%
Rev Chg Q-20.8%17.1%86.2%---17.1%
QoQ Delta Rev Chg LTM-5.3%4.1%19.3%---4.1%
Op Mgn LTM-81.0%22.9%5.0%---5.0%
Op Mgn 3Y Avg-21.5%----21.5%
QoQ Delta Op Mgn LTM-11.2%0.8%-0.1%----0.1%
CFO/Rev LTM4.5%29.1%13.5%---13.5%
CFO/Rev 3Y Avg-30.7%----30.7%
FCF/Rev LTM3.8%28.0%4.9%---4.9%
FCF/Rev 3Y Avg-29.5%----29.5%

Valuation

CURRADSKHITBIYABLIVBMRMedian
NameCurrenc Autodesk Health I.Baiya In.BeLive Beamr Im. 
Mkt Cap0.164.10.1---0.1
P/S3.39.75.4---5.4
P/EBIT-3.945.373.1---45.3
P/E-3.261.4106.2---61.4
P/CFO72.133.340.2---40.2
Total Yield-31.2%1.6%0.9%---0.9%
Dividend Yield0.0%0.0%0.0%---0.0%
FCF Yield 3Y Avg-3.3%----3.3%
D/E0.20.00.0---0.0
Net D/E-0.30.0-0.1----0.1

Returns

CURRADSKHITBIYABLIVBMRMedian
NameCurrenc Autodesk Health I.Baiya In.BeLive Beamr Im. 
1M Rtn72.0%-5.3%-18.7%-48.0%-1.1%-15.4%-10.3%
3M Rtn60.6%-0.8%26.1%-56.5%36.4%-14.8%12.7%
6M Rtn104.4%10.0%328.6%-93.3%-18.0%5.3%7.6%
12M Rtn7.0%4.1%----20.2%4.1%
3Y Rtn-40.3%----40.3%
1M Excs Rtn71.4%-6.4%-21.8%-50.8%-4.9%-16.7%-11.6%
3M Excs Rtn35.9%-8.1%21.1%-65.8%43.8%-23.6%6.5%
6M Excs Rtn82.6%-11.8%306.8%-115.1%-39.7%-16.5%-14.1%
12M Excs Rtn14.8%-12.2%----41.0%-12.2%
3Y Excs Rtn--37.4%-----37.4%

Financials

Price Behavior

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity145,187
Short Interest: % Change Since 9302025-39.4%
Average Daily Volume210,101
Days-to-Cover Short Interest1
Basic Shares Quantity46,527,999
Short % of Basic Shares0.3%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
12/3/2024-2.9%-14.8%-7.6%
SUMMARY STATS   
# Positive000
# Negative111
Median Positive   
Median Negative-2.9%-14.8%-7.6%
Max Positive   
Max Negative-2.9%-14.8%-7.6%

SEC Filings

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Report DateFiling DateFiling
630202580520256-K 6/30/2025
3312025520202510-Q 3/31/2025
12312024414202510-K 12/31/2024
93020241119202410-Q 9/30/2024
123120237112024S-4/A 12/31/2023
123120219302022S-4 12/31/2021

Insider Activity

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