Telegram's revenue reached $870 million in the first half of 2025, with a target of $2 billion for the full year.

According to unaudited financial statements, Telegram's revenue reached $870 million in the first half of 2025, a 65% increase from $525 million in the same period last year. Approximately $300 million of this revenue came from an exclusivity agreement related to Toncoin. Despite a profit of nearly $400 million in the first half, Telegram suffered a net loss of over $220 million due to a write-down of Toncoin's book value. Toncoin's value fell by 69% in 2025, and the company disclosed that it had sold over $450 million worth of Toncoin this year. Furthermore, due to Western sanctions, approximately $500 million of Telegram's bonds were frozen at the Russian Central Securities Depository. The company is currently preparing for an IPO and has set a revenue target of $2 billion for the full year of 2025. Its founder, Pavel Durov, remains under judicial investigation in France; the company stated that it is cooperating with the investigation and that it has not yet had a significant material impact on its business. (FT)