Chams Holding’s revenue fell 40.65% quarter-on-quarter, dropping from ₦6 billion in Q2 2025 to ₦3.56 billion in Q3 2025. The company’s Q3 performance also marks a 25.78% decline compared to ₦4.8 billion in the same period last year. Administrative expenses rose by 7.57% between Q2 and Q3.
Despite a decline in revenue, the company recorded a modest 12.65% drop in gross profit, suggesting improved operational efficiency. Chams core was its best performer, posting revenues of ₦8 billion, up from ₦4.8 billion the previous quarter. Meanwhile, profit after tax declined by 69.72% compared to the previous quarter.
As of the end of the third quarter, Chams Holding has generated ₦13.45 billion in revenue, representing a 2.47% increase from the ₦13.12 billion recorded in the same period last year.
While this year-to-date growth indicates the company’s ability to maintain positive momentum overall, the modest increase is a result of recent quarterly weakness tempering earlier gains. Unless there is a significant rebound in the final quarter, the company is unlikely to match or exceed its 53% year-on-year revenue growth achieved last year.
In August 2025, the company announced plans to raise ₦7.65 billion through a combination of a rights issue and private placement offer. The funds were to be channelled into building a robust cross-border payment engine that would see it compete with fintechs such as Flutterwave, Fincra, Graph, and Grey.
It also plans to build an EMV-certified card personalisation plant in Nigeria. If successfully executed, the planned capital raise could serve as a catalyst for long-term growth, positioning Chams Holding to capture new opportunities in digital payments and fintech infrastructure.
However, short-term financial pressure remains a concern. The sharp quarterly revenue decline highlights potential operational or market challenges, possibly tied to delayed project rollouts or reduced government-related contracts. Sustained efficiency in cost management, as evidenced by the smaller drop in gross profit, will be key to maintaining profitability during this transition period.
