🔥 Key Takeaways
- Telegram’s revenue surged 65% to $870M in H1 2025, driven by TON exclusivity deals and subscriptions.
- The platform now boasts 1 billion users, marking significant growth in its user base.
- Toncoin’s 69% drop resulted in a $222M net loss, despite a $400M operating profit.
- $500M of Telegram’s bonds remain frozen in Russia, complicating financial operations.
- Pavel Durov, Telegram’s founder, faces a French probe amid ongoing challenges.
Telegram’s Revenue Growth Driven by TON and Subscriptions
Telegram has reported a staggering 65% revenue increase, reaching $870 million in the first half of 2025. This growth is largely attributed to its exclusive deals with Toncoin (TON) and subscription-based services. TON exclusivity deals contributed $300 million, while subscriptions brought in $223 million. The messaging platform has also achieved a significant milestone, surpassing 1 billion users worldwide.
Toncoin’s Volatility Impacts Financial Performance
Despite Telegram’s strong revenue performance, the platform faced financial challenges due to the volatility of Toncoin. The cryptocurrency experienced a sharp 69% decline, resulting in a net loss of $222 million. This loss overshadowed an otherwise robust operating profit of nearly $400 million. The downturn highlights the risks associated with integrating cryptocurrency into business models.
Bonds Frozen and Legal Challenges
Telegram’s financial operations have been further complicated by the freezing of $500 million worth of bonds in Russia. This freeze has created liquidity challenges for the company. Additionally, Telegram’s founder, Pavel Durov, is under investigation by French authorities, adding another layer of complexity to the company’s legal and financial landscape.
Looking Ahead
Despite these hurdles, Telegram’s ability to generate substantial revenue and expand its user base demonstrates its resilience and growing influence in the tech and crypto sectors. However, the company must navigate ongoing challenges, including cryptocurrency volatility and legal scrutiny, to sustain its momentum.
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