Treasure Global Swings to $5.2M Loss in H1 FY2026 as Operating Costs Surge

Treasure Global Inc reported a net loss of $5.24 million for the six months ending December 31, 2025, a sharp deterioration from a loss of $1.18 million in the same period a year earlier. The widening loss came as operating expenses climbed to $9.41 million from $1.90 million, while revenue reached $1.26 million against $509,269 in the prior year. Read more earnings reports.

For the three months ending December 31, 2025, the company posted a net loss of $3.11 million on revenue of $1.08 million. That compared to a loss of $232,332 on revenue of $301,898 in the December 2024 quarter.

Operating losses for the six-month period reached $9.41 million, compared to $1.50 million in the prior year. Gross profit collapsed to $2,193 from $396,123 as the cost of revenue surged to $1.26 million from $113,146, leaving gross margin near zero.

Research and development spending jumped to $802,644 for the half year from $80,345 in the prior period. Operating expenses for the most recent quarter alone totaled $7.67 million, up from $916,957 a year earlier.

Cash burn accelerated sharply. The company used $4.73 million in operating activities during the six months ending December 31, 2025, compared to $1.58 million in the prior year. The company raised $10.96 million from financing activities during the period, up from $3.94 million a year earlier.

Cash and restricted cash stood at $5.45 million as of December 31, 2025, up from $236,895 at the end of June 2025. Total assets grew to $24.23 million from $14.87 million over the same period.

Stockholders' equity increased to $17.96 million as of December 31, 2025, from $10.74 million six months earlier, driven by financing activities. Shares outstanding expanded dramatically to 1.68 million from 207,470 during the period.

The company reported basic and diluted loss per share of $8.88 for the six-month period, based on 590,356 weighted average shares outstanding. That compared to a loss per share of $101.92 in the prior year on a significantly smaller share base of 11,608 weighted average shares.

Accounts receivable declined to $778,519 as of December 31, 2025, from $1.59 million at the end of June. Inventory increased modestly to $136,416 from $13,184. Property, plant and equipment grew to $1.01 million from $109,539.