Treasure Global, Inc. ( (TGL) ) has released its Q2 earnings. Here is a breakdown of the information Treasure Global, Inc. presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Treasure Global, Inc. is a Delaware-based holding company operating primarily in the payment processing and e-commerce industry through its subsidiary, ZCity Sdn. Bhd., which runs an online-to-offline platform known as ZCITY. The company focuses on providing a seamless payment solution with an instant rebate and affiliate cashback program business model, aiming to become Malaysia’s top reward and payment gateway platform.
In its latest earnings report for the quarter ended December 31, 2024, Treasure Global Inc. highlighted a significant growth in its asset base, reporting total assets of $19.1 million compared to $4.3 million in the previous year. This increase was mainly driven by a substantial rise in intangible assets and investments in marketable securities. However, the company also reported a net loss of $232,332 for the quarter, indicating a decrease in losses compared to the $1.2 million net loss reported in the same period of the previous year.
Key financial metrics revealed a gross profit of $223,951 on revenues of $301,898, signaling a reduction from previous periods. The company managed to narrow its operating losses, which stood at $693,006, thanks to a decrease in overall operating expenses. Notably, the company saw an unrealized holding gain on marketable securities of $460,172, which positively impacted its other income.
Despite ongoing losses, Treasure Global Inc. has been actively engaging in various financing activities to strengthen its financial position, including the issuance of common stock and entering into share purchase agreements. These efforts have been accompanied by strategic moves such as disposing of non-core subsidiaries to streamline operations.
Looking ahead, Treasure Global Inc. remains focused on enhancing its platform and expanding its market presence, while management acknowledges the need to continue addressing challenges related to liquidity and operational efficiency to achieve long-term sustainability.
