GCL Global (GCL) investor relations material

Executive summary

• Revenue reached $238.9 million for FY26, up 68.2% year-over-year, marking the highest in company history and a 38.0% four-year CAGR.

• Strategic shift from distribution-led to a diversified platform combining publishing, proprietary content, and scalable distribution.

• Integration of Ban Leong Technologies and investments in publishing and IP development expanded capabilities and market reach.

• Net loss of $26.2 million, reversing a prior year net income of $5.0 million, mainly due to one-off exceptional expenses and non-operational losses.

• EBITDA loss was $18.9 million, with adjusted EBITDA (excluding non-operational and one-off items) at a $0.5 million loss.

Financial highlights

• Revenue grew 68.2% year-on-year to $238.9 million, driven by Ban Leong acquisition, publishing expansion, and digital sales.

• Gross profit increased 16.4% to $24.7 million, but gross margin compressed to 10.3% from 15% due to higher low-margin distribution activities.

• Selling and marketing expenses rose to $4.8 million, mainly from Ban Leong and 4Divinity launches.

• General administrative expenses increased to $33.2 million, reflecting group expansion and Nasdaq listing costs.

• Game publishing revenue grew 367.1% year-over-year, while hardware and accessories revenue rose 35.4%.

Outlook and guidance

• Management expects continued business scale in FY 2027, focusing on higher-margin activities, operating efficiencies, and improved cash conversion.

• Eight highly anticipated titles, including Showa American Story, are in the release pipeline for FY27 and beyond.

• No specific financial guidance provided for FY 2027 due to variability in game release timing and market conditions.