Toku (SGX:TKU
) founder and CEO Thomas Laboulle says he is not too worried by the tech sell-off that swept markets last week. Tech and software companies such as IBM and DocuSign took a hit to their stock price last week following the release of a bearish report on AI’s risks by Citrini Research, a US-based market research firm.
“That was an excessive movement right?” Laboulle told The Edge Singapore on Mar 2 after hosting the company’ inaugural earnings briefing. “In terms of the sell-off itself, these are market movements that I think were not entirely rational. Let’s not forget that the valuations and the multiples are extremely different as well.”
Toku went public on the Catalist board of the Singapore Exchange (SGX) on Jan 22. The cloud communications and AI-powered customer experience platform was founded in 2018 and is the first company to list on the SGX in 2026.
“There is no technology in the foreseeable future that can replace enterprise software. That makes no sense at so many levels,” Laboulle says of AI’s impact on Toku.
According to Laboulle, AI will not pose a threat to enterprise technology companies like Toku. “AI is a revolutionary technology, but it’s not a business on itself. What we are having here is an integrated platform that already addresses most of the aspects for customer experience and the mission critical communications that our own customers have to do with their audience.”
Toku’s revenue for the FY2025 ended Dec 31 2025 was US$34.8 million ($44.0 million), up 9.3% y-o-y from US$31.8 million in FY2024.
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Toku’s revenue growth in FY2025 was mainly driven by higher usage revenue. Usage revenue makes up 68.8% of Toku’s total revenue in FY2025. It grew by 21.0% y-o-y to reach US$23.9 million in FY2025, up from US$19.8 million in FY2024.
The company’s net loss for FY2025 was US$9.1 million, a 71.7% y-o-y increase from FY2024’s US$5.3 million. Toku says approximately US$4.9 million of the losses can be attributed to IPO-related expenses.
Going public has bolstered Toku’s fortunes, says Laboulle. The company raised $16.25 million when it went public and had a post-IPO market capitalisation of $142.56 million.
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“We have been really running that roller coaster, and it's been very positive, especially the brand awareness and the access. The pipeline has seen a very positive effect from the listing,” Laboulle says.
“Overall, it is showing how serious the company is. Our ambitions [have] also [been] met with a lot of enthusiasm, not only from shareholders and the investors, but also from the prospects that we are meeting with.”
