Valereum (VLRM) H1 2025 earnings summary

Executive summary

• Launched VLRM Markets, a licensed and regulated marketplace for tokenised real-world assets (RWAs), in May 2025, enabling primary issuance, secondary trading, and custody of digital assets.

• Achieved commercial activation with initial revenue generation post-period end, and expanded a pipeline of prospective issuers across multiple industries and jurisdictions.

• Strengthened Board with new CEO and two Non-Executive Directors, enhancing governance and US growth strategy.

Financial highlights

• Profit before tax for H1 2025 was £0.3m, down 24.1% from £0.4m in H1 2024, mainly due to revaluation gains on BTC.L holdings.

• Total assets rose to £10.2m from £5.2m year-over-year, reflecting strategic investments and asset revaluations.

• Net assets increased to £4.3m from £1.4m, driven by balance sheet enhancement and BTC.L revaluation.

• Basic EPS fell to 0.16p from 0.42p year-over-year, a 61.9% decrease.

• Revenues for H1 2025 were £19,272; operating loss was £1.72m, offset by a £1.99m gain on revaluation of financial assets.

Outlook and guidance

• Anticipates revenue growth from completion of current projects and conversion of pipeline opportunities following VLRM Markets' launch.

• Focus remains on scaling revenues and expanding the digital asset ecosystem through further investments and partnerships.