Treasure Global (TGL) investor relations material

Executive summary

• Revenue for the quarter ended December 31, 2025, increased 258.1% year-over-year to $1.1 million, driven by higher product and loyalty program sales, but offset by declines in transaction and subscription revenue.

• Net loss widened to $3.1 million for the quarter, compared to $0.2 million in the prior year, primarily due to increased administrative costs and a significant impairment of intangible assets.

• Gross margin dropped sharply to 0.1% from 74.2% year-over-year, reflecting higher procurement costs and lower-margin product mix.

• Active user growth and engagement on the ZCITY platform declined, with active users falling to 3,754 and retention rates fluctuating between 42.2% and 79.0% over the last five quarters.

Financial highlights

• Total revenue for the six months ended December 31, 2025, rose 148.1% year-over-year to $1.3 million.

• Gross profit for the six months was $2,193, down 99.4% from $396,123 in the prior year, with gross margin falling to 0.2%.

• Operating expenses increased significantly, with general and administrative expenses up 196.3% to $4.6 million and R&D expenses up 899% to $0.8 million for the six months.

• Net loss for the six months was $5.2 million, compared to $1.2 million in the prior year.

• Cash and cash equivalents stood at $5.5 million as of December 31, 2025.

Outlook and guidance

• Management expresses substantial doubt about the company's ability to continue as a going concern due to recurring losses and insufficient funds to meet obligations over the next year.

• Plans to seek additional equity financing to support working capital needs, but no assurance of success.