In line with a latest report by the Monetary Occasions, Telegram, a cryptocurrency-friendly messaging app, is poised for a big income surge in 2025.
The corporate has considerably improved its monetary efficiency forward of a possible preliminary public providing (IPO) and a doable inventory change launch related to the IPO course of.
In line with unaudited monetary knowledge, Telegram’s income reached $870 million within the first half of 2025. This represents a exceptional 65% year-on-year improve in comparison with $525 million in the identical interval final yr. Administration has set a income goal of $2 billion for the total yr, probably the most bold projections in Telegram’s historical past.
Roughly $300 million of the income got here from “unique partnership agreements.” This merchandise is basically comprised of collaborations associated to Toncoin (TON), the digital asset throughout the Telegram ecosystem. Telegram positions cost, promoting, and infrastructure integrations developed on the TON community as its key development space.
The corporate additionally introduced a optimistic image when it comes to working revenue. Whereas working revenue approached $400 million within the first six months, a web lack of over $220 million was recorded. Telegram administration acknowledged that the primary cause for the loss was the impairment of TON belongings and associated accounting projections. The report argues {that a} decline of roughly 69% within the worth of TON by 2025 is placing strain on the stability sheet.
Telegram additionally knowledgeable buyers that it has bought over $450 million price of TON this yr. This quantity represents roughly 10% of TON’s present market worth. The corporate indicated that gross sales might proceed for liquidity administration causes.
The monetary report additionally highlighted Telegram’s Russia-related monetary dangers. It acknowledged that roughly $500 million price of Telegram bonds had been frozen on the Central Securities Depository in Russia as a result of Western sanctions. Telegram has borrowed on a number of events lately, together with a $1.7 billion convertible bond issuance in Might 2025. Outstanding backers of the corporate embrace BlackRock and the Abu Dhabi-based sovereign wealth fund Mubadala.
The report famous that Telegram CEO Pavel Durov is underneath investigation in France. Consultants consider these authorized uncertainties stay one of many greatest obstacles to Telegram’s IPO plans.
*This isn’t funding recommendation.
