Peppermint Reports $1.27M Loss, Boosts Wallet Funding to PHP 486M in 2025

Financial Results and Operational Progress

Peppermint Innovation Limited has reported a net loss of $1.27 million for the half-year ended 31 December 2025, a modest improvement from the $1.31 million loss recorded in the prior corresponding period. Revenue declined 11% to $117,000, reflecting the company’s ongoing transition from infrastructure build to commercial scaling in the Philippine digital payments market.

Despite the loss, Peppermint marked a pivotal phase in its development by activating direct connectivity to the Philippines’ national payment rails, including InstaPay, QRPh, and PESONet. This connectivity enables real-time wallet-to-wallet and wallet-to-bank transfers, embedding Peppermint within the regulated financial infrastructure overseen by the Bangko Sentral ng Pilipinas (BSP).

Regulatory Milestones and Platform Expansion

The company secured a Merchant Acquisition Licence from BSP, allowing it to onboard QRPh-enabled merchants directly through its bizmoto wallet platform. This expands Peppermint’s revenue model beyond wallet issuance to include merchant transaction flows, positioning it to capture growing digital payment volumes across the Philippines.

Further, Peppermint expanded its cooperative network to 199 cooperatives with over 57,500 registered users, and wallet prefunding reached PHP 486 million for calendar year 2025. These metrics indicate increasing user engagement and transaction activity, critical for driving recurring revenue streams.

Capital and Compliance Challenges

However, the company faces significant financial headwinds. It reported a working capital deficiency of nearly $1.9 million and remains cashflow negative. Post-period, Peppermint settled a statutory demand from Obsidian Global Partners LLC through a structured payment plan involving cash and share issuance. This settlement resolved a key legal dispute but triggered an ASX trading suspension that remains in place pending capital raising and regulatory compliance.

The directors have secured $2.1 million in equity funding commitments, with $1.07 million received and the balance subject to shareholder approval. The company’s ability to continue as a going concern hinges on successfully completing this capital raise and lifting the ASX suspension.

Strategic Outlook

With its foundational infrastructure and regulatory approvals largely in place, Peppermint is shifting focus toward commercial growth, deepening merchant partnerships, and expanding payment processing services. The company is also repositioning its bizmoLoan lending product toward a more capital-efficient, AI-driven model integrated within its payments ecosystem.

While the operational progress is encouraging, the path to profitability and sustainable cashflow remains challenging. Investors will be watching closely how Peppermint navigates capital markets and scales transaction volumes in a competitive fintech landscape.