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Treasure Global (TGL) investor relations material
Treasure Global Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue declined 89.4% year-over-year to $2.3M, driven by a strategic reduction in low-margin e-voucher sales and lower marketing spend, but gross profit rose 104.6% to $1.7M due to a shift to higher-margin software development services.
Net loss widened to $23.4M from $6.6M, primarily due to a $19.5M impairment of intangible assets and continued operating losses.
The company ended the year with $0.2M in cash and a $61.4M accumulated deficit, raising substantial doubt about its ability to continue as a going concern.
Financial highlights
Product and loyalty program revenue fell 97.1% to $0.6M, while customized software development services contributed $1.5M in new revenue.
Gross margin improved to 71.6% from 3.7% year-over-year, reflecting the higher-margin business mix.
Operating expenses decreased 19.5% to $3.6M for G&A and 92.6% to $0.1M for selling expenses, but R&D increased 58% to $0.2M due to AI infrastructure investments.
Cash used in operations was $9.5M, with $5.8M used in investing and $15.4M provided by financing activities.
Outlook and guidance
Management expects continued investment in technology and user engagement, but notes ongoing risks to liquidity and the need for additional equity financing.
No formal revenue or earnings guidance was provided.
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