Treasure Global Inc
NASDAQ:TGL
Treasure Global Inc
Treasure Global, Inc. provides payment solutions. The company is headquartered in New York City, New York and currently employs 48 full-time employees. The company went IPO on 2022-08-11. The Company, through its subsidiary, Gem Reward Sdn. Bhd. (GEM), engages in the payment processing industry and operate an online-to-offline (O2O) e-commerce platform known as ZCITY. The firm has business interests in creating an advanced O2O e-commerce platform with an instant rebate and affiliate cashback program business model, focusing on providing a seamless payment solution and capitalizing on big data using artificial intelligence technology. The company provides a seamless e-payment solution with rebates in both e-commerce (online) and physical retailers/merchant (offline) settings. The Company’s proprietary product is an internet application (app) called ZCITY App. ZCITY App drives user app download and transactions by providing instant rebate and cashback. The firm focuses on transforming and simplifying a user’s e-payment gateway experience by providing deals, rewards, and promotions with every use.
Treasure Global, Inc. provides payment solutions. The company is headquartered in New York City, New York and currently employs 48 full-time employees. The company went IPO on 2022-08-11. The Company, through its subsidiary, Gem Reward Sdn. Bhd. (GEM), engages in the payment processing industry and operate an online-to-offline (O2O) e-commerce platform known as ZCITY. The firm has business interests in creating an advanced O2O e-commerce platform with an instant rebate and affiliate cashback program business model, focusing on providing a seamless payment solution and capitalizing on big data using artificial intelligence technology. The company provides a seamless e-payment solution with rebates in both e-commerce (online) and physical retailers/merchant (offline) settings. The Company’s proprietary product is an internet application (app) called ZCITY App. ZCITY App drives user app download and transactions by providing instant rebate and cashback. The firm focuses on transforming and simplifying a user’s e-payment gateway experience by providing deals, rewards, and promotions with every use.
Gross Profit Growth: Gross profit reached $217,000 for the quarter, up 47% year-over-year, driven by a shift toward higher-margin business streams.
Revenue Drop: Quarterly revenue was $1.6 million, down approximately 76% from $6.7 million in the previous quarter, reflecting a strategic pivot away from lower-margin offerings.
Net Loss Improvement: Net loss narrowed to $1.7 million from $2.9 million in the same quarter last year due to cost controls and reduced selling and administrative expenses.
Strategic Partnerships: The company secured a $2 million marketing contract and formed exclusive AI and blockchain partnerships, including with Telegram and AIO Synergy.
ZCITY Premium Store: The newly launched ZCITY Premium Store exceeded sales and gross profit expectations, selling over 6,000 Bill Saver Bonanza Packs in four months.
NASDAQ Status: Management expects to remain in good standing with NASDAQ, reflecting strong governance and transparency.
