Cloud communications and AI-powered customer experience platform Toku’s (SGX:TKU
) revenue for the FY2025 ended Dec 31 2025 was up 9.3% y-o-y at US$34.8 million ($44.0 million), up from US$31.8 million in FY2024.
Founded in 2018 by former GlobalRoam Group CEO Thomas Laboulle, Toku made its trading debut on the Catalist board of the Singapore Exchange (SGX) on Jan 22. It is the first company to list on the SGX in 2026.
“Completing our IPO while operating with a streamlined team and disciplined capital allocation made this undoubtedly a challenging year,” Laboulle says of Toku’s FY2025 results.
“These results reflect the resilient growth engine we have built. Looking ahead, our focus turns to scaling AI-driven capabilities, deepening our presence across APAC, and beyond, and strengthening the partnerships that will power our next phase of growth.”
Toku’s revenue comes from five segments: usage, subscriptions and licensing, professional services, maintenance and support as well as hardware. The company’s revenue growth in FY2025 was mainly driven by higher usage revenue which hit US$23.9 million in FY2025, up 21.0% y-o-y from US$19.8 million in FY2024. Usage revenue as a proportion of total revenue is now at 68.8% in FY2025, up from 62.2% in FY2024.
Toku’s net loss for FY2025 widened to US$9.1 million, up 71.7% y-o-y from the US$5.3 million recorded in FY2024. The company says in its earnings release on Mar 1 that approximately US$4.9 million of the losses can be attributed to IPO-related expenses.
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“These comprised fair-value adjustments on pre-IPO redeemable convertible loans, listing-related professional and regulatory fees, and accelerated share-based payment charges arising from the settlement of the employee share option plan,” says Toku in its release.
Toku’s adjusted net loss for FY2025 is US$4.2 million, down 8.5% y-o-y from the US$4.6 million recorded in FY2024. The adjusted net loss excludes both non-recurring and non-cash items, as well as the non-recurring deferred tax credit recognised in FY2025.
“The IPO has been transformative for our capital structure,” says Christian Wong, Toku’s CFO. “All convertible instruments have been settled, shareholder loans repaid, and our highest-cost debt facility is scheduled for early retirement in April.”
Toku’s IPO raised a total of $16.25 million, giving it a post-IPO market capitalisation of $142.56 million. As part of the IPO, a total of 65 million shares were offered to investors at 25 cents apiece.
Toku shares closed 4% higher at 26 cents on Feb 27.
