Gifty (GIFT) Q4 2025 earnings summary

Executive summary

• Completed acquisition of Takeout7 in May 2025, expanding technology offerings for independent restaurants; Takeout7 merged into Restaurant.com in early 2026.

• CardCash acquisition in December 2023 significantly changed financial position and market profile, adding experienced management and expanding B2C/B2B operations.

• Company operates two main divisions: CardCash (gift card exchange) and Restaurant.com (restaurant deals), both with B2C and B2B channels.

Financial highlights

• Net sales for 2025 were $83.2M, down 6.5% from $88.9M in 2024, due to a shift in agent vs. principal transactions.

• Gross billings increased 27.1% year-over-year to $154.7M in 2025.

• Gross profit rose 17.9% to $15.5M, with gross margin improving to 18.6% from 14.8% in 2024.

• Net loss narrowed to $10.5M in 2025 from $18.8M in 2024.

• Modified EBITDA improved to a loss of $985K in 2025 from a loss of $2.8M in 2024.

• Cash and cash equivalents at year-end 2025 were $3.65M; working capital was $249K.

Outlook and guidance

• Management and auditors express substantial doubt about ability to continue as a going concern without additional capital.

• Cash balance expected to last until December 2026; additional financing may be required to sustain operations.

• Strategic focus on expanding branded exchange partnerships and increasing gross margins, especially in CardCash.