OxPay loss widens to $2.1m as gross margin drops 13 points
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OxPay Financial reported a net loss of $2.1 million for the nine months ending September 30, 2025, a 7% increase year-on-year, attributed to a 13-point drop in gross margin to 54%. Revenue grew 21% to $3.4 million, driven by increased transaction activity, particularly in Malaysia. The company processed $741.4 million in total payment volume, with 1,089 active merchants, a 12.3% increase. OxPay raised $2.4 million in 2025, maintaining liquidity with $5.0 million in cash, of which $3.6 million is allocated for settlements.
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