Revenue growth remains in a contractionary phase with a 4.1% year-over-year decline, while structural costs limit gross margins to a thin 16.4%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | May'18 | May'17 | Aug'05 | Aug'04 | Aug'03 | Aug'02 | Aug'01 | Aug'00 | Aug'99 | Aug'98 |
|---|
| Sales/Revenue | 82.26M | 83.18M | 88.93M | 87.15M | 97.01M | 3.32M | 2.64M | 4.14M | 567K | 0 | 0 | 32.28K | 24.28K | 8.87M | 8.76M | 6.49M | 5.52M | 4.37M | 3.78M |
| Revenue Growth % | -8.28% | -6.47% | 2.05% | -10.17% | 2818.85% | 25.67% | -36.18% | 630.86% | - | - | -100% | 32.94% | -99.73% | 1.34% | 34.92% | 17.51% | 26.47% | 15.59% | - |
| Cost of Goods Sold | 68.5M | 70.6M | 77.26M | 77.72M | 90.21M | 394.02K | 436.71K | 2.59M | 362K | 0 | 0 | 55.03K | 7.71K | 5.65M | 5.65M | 3.41M | 3.37M | 3.47M | 2.99M |
| COGS % of Revenue | - | 84.88% | 86.88% | 89.18% | 92.99% | 11.86% | 16.51% | 62.55% | 63.84% | - | - | 170.49% | 31.76% | 63.69% | 64.51% | 52.52% | 60.96% | 79.55% | 79.19% |
| Gross Profit | 13.77M | 12.58M | 11.67M | 9.43M | 6.8M | 2.93M | 2.21M | 1.55M | 205K | 0 | 0 | 32.28K | 16.57K | 3.22M | 3.11M | 3.08M | 2.16M | 893.27K | 785.77K |
| Gross Margin % | 16.73% | 15.12% | 13.12% | 10.82% | 7.01% | 88.14% | 83.49% | 37.45% | 36.16% | - | - | 100% | 68.24% | 36.31% | 35.5% | 47.48% | 39.04% | 20.46% | 20.8% |
| Gross Profit Growth % | - | 7.77% | 23.81% | 38.59% | 132.2% | 32.69% | 42.26% | 657.07% | - | - | -100% | 94.83% | -99.49% | 3.64% | 0.88% | 42.94% | 141.3% | 13.68% | - |
| Operating Expenses | 23.62M | 22.93M | 30.05M | 17.53M | 12.4M | 8.44M | 6.89M | 14.38M | 1.28M | 448.09K | 35.35K | 9.22M | 3.52M | 4.87M | 4.63M | 3.56M | 2.11M | 1.6M | 2.9M |
| OpEx % of Revenue | - | 27.57% | 33.79% | 20.11% | 12.79% | 253.86% | 260.63% | 346.91% | 226.28% | - | - | 28580.37% | 14503.84% | 54.91% | 52.83% | 54.78% | 38.22% | 36.56% | 76.75% |
| Selling, General & Admin | 23.06M | 22.93M | 27.62M | 16.24M | 11.27M | 7.24M | 6.17M | 3.48M | 968K | 448.09K | 35.35K | 9.17M | 3.48M | 3.87M | 3.63M | 3.89M | 2.05M | 1.43M | 1.63M |
| SG&A % of Revenue | - | 27.57% | 31.05% | 18.63% | 11.62% | 217.94% | 233.4% | 84.1% | 170.72% | - | - | 28409.89% | 14329.42% | 43.62% | 41.47% | 59.99% | 37.09% | 32.73% | 43.24% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 557.06K | 0 | 2.43M | 1.29M | 1.13M | 1.19M | 720K | 10.89M | 315K | 0 | 0 | 55.03K | 42.35K | 1M | 993.81K | 10.32M | 62.66K | 167.09K | 1.27M |
| Operating Income | -9.85M | -10.35M | -18.38M | -8.1M | -5.6M | -5.51M | -4.68M | -12.82M | -1.08M | -448K | -35.35K | -9.19M | -3.5M | -1.65M | -1.52M | -11.13M | 44.83K | -703K | -2.11M |
| Operating Margin % | -11.98% | -12.45% | -20.66% | -9.3% | -5.77% | -165.72% | -177.14% | -309.46% | -190.12% | - | - | -28480.37% | -14435.6% | -18.61% | -17.33% | -171.58% | 0.81% | -16.1% | -55.94% |
| Operating Income Growth % | - | 43.65% | -126.85% | -44.64% | -1.68% | -17.57% | 63.47% | -1089.61% | -140.63% | -1167.43% | 99.62% | -162.28% | -112.28% | -8.83% | 86.38% | -24937.71% | 106.38% | 66.73% | - |
| EBITDA | -7.07M | -7.44M | -15.94M | -7.8M | -4.58M | -4.88M | -3.96M | -10.29M | -763K | -445K | 22.18K | -9.14M | -2.93M | -650K | -523.19K | -9.82M | 107.48K | -494.07K | -1.58M |
| EBITDA Margin % | -8.59% | -8.94% | -17.93% | -8.95% | -4.72% | -146.94% | -149.91% | -248.43% | -134.57% | - | - | -28309.89% | -12062.71% | -7.33% | -5.98% | -151.35% | 1.95% | -11.32% | -41.82% |
| EBITDA Growth % | 56.47% | 53.35% | -104.4% | -70.46% | 6.3% | -23.18% | 61.49% | -1249.28% | -71.46% | -2106.13% | 100.24% | -212% | -350.57% | -24.24% | 94.67% | -9237.26% | 121.75% | 68.72% | - |
| D&A (Non-Cash Add-back) | 2.79M | 2.92M | 2.43M | 300K | 1.02M | 624K | 720K | 2.53M | 315K | 0 | 0 | 55.03K | 576.12K | 1M | 993.81K | 1.31M | 62.66K | 208.93K | 533.47K |
| EBIT | -9.81M | -10.35M | -18.38M | -7.11M | -4.77M | -4.94M | -4.68M | -12.65M | -591K | -445K | 22.18K | -9.19M | -3.5M | -1.65M | -1.52M | -11.13M | 44.83K | -703K | -2.11M |
| Net Interest Income | -587K | -684.25K | -1.13M | -2.89M | -2.72M | -124.29K | -1.08M | -1.33M | -589K | -230K | -45.17K | 0 | 0 | -396K | -655K | -434K | 0 | 0 | 0 |
| Interest Income | 19.91K | 15.51K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28.58K | 0 | 0 | 0 |
| Interest Expense | 606.9K | 699.76K | 1.13M | 2.89M | 2.72M | 124.29K | 1.08M | 1.33M | 589K | 229.55K | 45.17K | 0 | 0 | 396.26K | 654.52K | 462.79K | 0 | 0 | 0 |
| Other Income/Expense | -548.46K | -645.71K | -1.13M | 2.99M | -2.72M | 516.47K | -1.99M | -1.16M | -102K | -227K | 12.36K | -2.04M | -131.03K | -396K | -655K | -434K | -44.83K | 703.2K | 2.11M |
| Pretax Income | -10.4M | -11M | -19.51M | -5.11M | -8.32M | -4.99M | -6.67M | -13.98M | -1.18M | -675K | -22.99K | -11.23M | -3.64M | -2.05M | -2.17M | -11.57M | 0 | 0 | 0 |
| Pretax Margin % | -12.65% | -13.22% | -21.94% | -5.87% | -8.58% | -150.18% | -252.25% | -337.4% | -208.11% | - | - | -34788.99% | -14975.29% | -23.07% | -24.81% | -178.27% | - | - | - |
| Income Tax | -477.79K | -508.8K | -677K | 29.67K | 899 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -12.65K | 764.66K | 2.17M |
| Effective Tax Rate % | 4.59% | 4.63% | 3.47% | -0.58% | -0.01% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | - | - | - |
| Net Income | -9.92M | -10.49M | -18.83M | -5.14M | -8.32M | -4.99M | -3.78M | -13.98M | -1.18M | -675K | -22.99K | -11.19M | -7.68M | -3.68M | -2.17M | -13.27M | 12.65K | -1.37M | -3.13M |
| Net Margin % | -12.06% | -12.61% | -21.18% | -5.9% | -8.58% | -150.18% | -142.77% | -337.4% | -208.11% | - | - | -34668.62% | -31645.32% | -41.47% | -24.81% | -204.5% | 0.23% | -31.36% | -82.9% |
| Net Income Growth % | 47.37% | 44.29% | -266.06% | 38.2% | -66.78% | -32.19% | 73% | -1084.92% | -74.81% | -2836.06% | 99.79% | -45.64% | -108.84% | -69.38% | 83.63% | -105009.48% | 100.92% | 56.28% | - |
| Net Income (Continuing) | -9.92M | -10.49M | -18.83M | -5.14M | -8.32M | -4.99M | -6.67M | -13.98M | -1.18M | -675K | -22.99K | -11.23M | -3.64M | -2.05M | -2.17M | -11.57M | 12.65K | -765K | -2.17M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 2.9M | 0 | 0 | 0 | 0 | 38.85K | -4.05M | -1.63M | 0 | -1.7M | 0 | -605K | -962K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.30 | -0.35 | -0.73 | -0.01 | -0.60 | -0.41 | -0.61 | -4.69 | -0.76 | -3.00 | -0.25 | -2024.89 | -1462.42 | -1012.44 | -2981.95 | -15645.53 | -75.07 | -4459.28 | -10966.64 |
| EPS Growth % | 55.79% | 52.05% | -7200% | 98.33% | -46.34% | 32.79% | 86.99% | -517.11% | 74.67% | -1100% | 99.99% | -38.46% | -44.45% | 66.05% | 80.94% | -20741.25% | 98.32% | 59.34% | - |
| EPS (Basic) | - | -0.35 | -0.73 | -0.01 | -0.60 | -0.41 | -0.61 | -4.69 | -0.76 | -3.00 | -0.25 | -2024.89 | -1462.42 | -1012.44 | -2981.95 | -15645.53 | -75.07 | -4459.28 | -10966.64 |
| Diluted Shares Outstanding | 33.58M | 29.85M | 25.75M | 15.93M | 13.77M | 12.28M | 6.18M | 2.98M | 1.55M | 183.34K | 93.66K | 5.73K | 5.91K | 3.6K | 742 | 742 | 375 | 307 | 288 |
| Basic Shares Outstanding | 33.58M | 29.85M | 25.75M | 15.93M | 13.77M | 12.28M | 6.18M | 2.98M | 1.55M | 183.34K | 93.66K | 5.73K | 5.91K | 3.6K | 742 | 742 | 375 | 307 | 288 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Persistent negative operating margins
As indicated by the most recent quarterly data, Giftify's revenue has experienced a persistent downward trend, with the latest figures showing a 4.1% year-over-year decline, suggesting that the company's core marketplace model is struggling to maintain relevance within an increasingly competitive digital dining and incentive landscape.
The consistent revenue contraction across multiple quarters implies that the company's value proposition to both merchants and consumers may be losing its competitive edge. Investors should monitor whether this trend reflects a structural decline in the demand for legacy certificate-based marketing or an inability to effectively acquire new merchant inventory.
Based on the reported financial statements, Giftify maintains a thin gross margin profile of approximately 16.4%, which highlights the significant cost of fulfillment and merchant payouts inherent in its business model and leaves little room for absorbing fluctuations in operational expenses or reinvestment into platform growth.
The low gross margin profile suggests that the company operates more as a high-volume reseller than a high-margin software platform. This structural limitation makes it difficult to achieve the operating leverage necessary to offset fixed costs, as the spread between revenue and direct costs remains insufficient to support profitability.
According to the provided income statement data, Giftify has failed to demonstrate positive operating leverage, as evidenced by a negative 12.5% operating margin in the most recent quarter, indicating that the company's overhead costs continue to outpace its ability to generate sufficient gross profit from operations.
The inability to scale operating income alongside revenue suggests that the current cost structure is too rigid for the company's declining revenue base. Without a significant reduction in SG&A or a pivot toward higher-margin revenue streams, the company appears likely to continue consuming cash to fund its ongoing operations.
While the company has managed to maintain a low debt-to-equity ratio, the persistent negative net income, which reached -12.4% in the latest quarter, raises significant questions regarding the long-term viability of the current business model in the absence of a clear path to achieving positive cash flow.
Short-term observers might focus on the company's ability to avoid debt, but the fundamental issue remains the lack of a sustainable profit engine. The reliance on a business model that requires high fulfillment costs suggests that the company may remain trapped in a cycle of revenue decline and margin compression.
Quick answers to the most common questions about buying GIFT stock.
For fiscal year 2025, Giftify, Inc. (GIFT) reported total revenue of $83.2M. This represents a 2102.3% increase compared to $3.8M in 1998.
Giftify, Inc. (GIFT) reported a net loss of $10.5M for the fiscal year ending 2025.
Giftify, Inc. (GIFT) reported an operating income of $-10.4M, resulting in an operating profit margin of -12.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Giftify, Inc. (GIFT) generated $12.6M in gross profit for the year, representing a gross profit margin of 15.1%. This demonstrates the company's core pricing power and production efficiency.