Revenue growth remains in a contractionary phase with a 17.6% year-over-year decline in 2025Q3, while the company struggles to convert a 64.3% gross margin into operational profitability.
| Sales/Revenue | 7.23M | 7.11M | 8.17M | 5.64M | 519.88K | 52.45K | 10.41K | 0 |
| Revenue Growth % | 4.65% | -13.05% | 45% | 984% | 891.14% | 403.82% | - | - |
| Cost of Goods Sold | 3.92M | 5.24M | 5.7M | 4.67M | 710.68K | 88.66K | 771 | 0 |
| COGS % of Revenue | - | 73.78% | 69.77% | 82.84% | 136.7% | 169.04% | 7.41% | - |
| Gross Profit | 3.31M | 1.86M | 2.47M | 966.97K | -190.8K | -36.21K | 9.64K | 0 |
| Gross Margin % | 45.75% | 26.22% | 30.23% | 17.16% | -36.7% | -69.04% | 92.59% | - |
| Gross Profit Growth % | - | -24.58% | 155.44% | 606.8% | -426.91% | -475.63% | - | - |
| Operating Expenses | 13.67M | 11.18M | 20.43M | 35.12M | 34.02M | 3.71M | 7.3M | 1.46M |
| OpEx % of Revenue | - | 157.4% | 250.02% | 623.24% | 6544.03% | 7080.69% | 70117.59% | - |
| Selling, General & Admin | 13.62M | 11.13M | 20.37M | 31.55M | 33.73M | 3.53M | 4.21M | 1.46M |
| SG&A % of Revenue | - | 156.63% | 249.34% | 559.84% | 6487.13% | 6733.93% | 40460.76% | - |
| Research & Development | 53.18K | 54.64K | 55.65K | 73K | 95.81K | 165.51K | 289.18K | 0 |
| R&D % of Revenue | - | 0.77% | 0.68% | 1.3% | 18.43% | 315.55% | 2777.6% | - |
| Other Operating Expenses | 0 | 0 | 0 | 3.5M | 200K | 16.38K | 2.8M | 0 |
| Operating Income | -10.36M | -9.32M | -17.96M | -34.16M | -34.21M | -3.75M | -7.29M | -1.46M |
| Operating Margin % | -143.38% | -131.18% | -219.79% | -606.08% | -6580.73% | -7149.73% | -70024.99% | - |
| Operating Income Growth % | - | 48.1% | 47.42% | 0.16% | -812.27% | 48.56% | -399.03% | - |
| EBITDA | -9.77M | -8.67M | -16.69M | -30.85M | -31M | -2.94M | -7.28M | 1.46M |
| EBITDA Margin % | -135.18% | -122.01% | -204.23% | -547.39% | -5963.19% | -5609.02% | -69952.35% | - |
| EBITDA Growth % | 5.88% | 48.05% | 45.9% | 0.5% | -953.73% | 59.6% | -598.51% | - |
| D&A (Non-Cash Add-back) | 592.94K | 651.65K | 1.27M | 3.31M | 3.21M | 808.15K | 7.56K | 2.92M |
| EBIT | -10.44M | -10M | -18.07M | -33.99M | -34.81M | -3.77M | -7.29M | -2.92M |
| Net Interest Income | -104.51K | -138.7K | 160.47K | 59.01K | -41.4K | -48.97K | -8.13K | 0 |
| Interest Income | 7.92K | 13.45K | 160.7K | 84.12K | 116 | 19 | 3 | 0 |
| Interest Expense | 112.44K | 152.14K | 235 | 25.11K | 41.51K | 48.99K | 8.13K | 0 |
| Other Income/Expense | -193.12K | -835.43K | -113.19K | 144.66K | -641.4K | -69.41K | -8.13K | 5 |
| Pretax Income | -10.56M | -10.16M | -18.07M | -34.01M | -34.85M | -3.82M | -7.3M | 1.46M |
| Pretax Margin % | -146.06% | -142.94% | -221.17% | -603.51% | -6704.1% | -7282.05% | -70103.04% | - |
| Income Tax | 91.61K | 80.54K | 25.32K | 3.63K | 11.14K | 8.33K | 0 | 2.92M |
| Effective Tax Rate % | -0.87% | -0.79% | -0.14% | -0.01% | -0.03% | -0.22% | 0% | 200% |
| Net Income | -10.55M | -10.23M | -18.13M | -33.79M | -34.77M | -3.83M | -7.3M | -2.92M |
| Net Margin % | -146% | -143.93% | -221.92% | -599.52% | -6687.08% | -7297.94% | -70103.04% | - |
| Net Income Growth % | 10.71% | 43.6% | 46.33% | 2.82% | -808.18% | 47.55% | -149.79% | - |
| Net Income (Continuing) | -10.65M | -10.24M | -18.1M | -34.02M | -34.86M | -3.83M | -7.3M | -1.46M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -579.22K | -273.9K | -277.25K | -336.51K | -102.78K | 0 | 0 | 0 |
| EPS (Diluted) | -1.84 | -3.45 | -9.39 | -20.75 | -55.22 | -8.21 | -17.99 | -9.07 |
| EPS Growth % | 53.56% | 63.26% | 54.75% | 62.42% | -572.59% | 54.36% | -98.35% | - |
| EPS (Basic) | - | -3.45 | -9.45 | -20.75 | -55.22 | -8.21 | -17.99 | -9.07 |
| Diluted Shares Outstanding | 5.74M | 2.96M | 1.93M | 1.63M | 629.58K | 466.01K | 405.66K | 322.08K |
| Basic Shares Outstanding | 6.11M | 2.96M | 1.92M | 1.63M | 629.58K | 466.01K | 405.66K | 322.08K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Insufficient Operational Runway
As reported in recent financial filings, Society Pass experienced a 17.6% year-over-year revenue decline in 2025Q3, signaling that the company's acquisition-led growth strategy is failing to offset organic churn or effectively penetrate the competitive Southeast Asian e-commerce landscape, leaving the firm without a clear growth catalyst.
The consistent revenue volatility suggests that the company's reliance on disparate, acquired platforms has not yet yielded the intended cross-pollination benefits. Investors should monitor whether this contraction reflects a deliberate shedding of unprofitable volume or an inability to maintain market share against larger, better-capitalized regional super-apps.
Based on the company's quarterly income statements, gross margins have fluctuated significantly, reaching 64.3% in 2025Q3 but failing to translate into operational profitability, which suggests that the underlying cost of service delivery remains highly sensitive to the specific mix of products sold across the ecosystem.
The lack of margin consistency indicates that the company has yet to achieve the economies of scale necessary to stabilize its cost structure. The wide swings in profitability metrics imply that the business model is currently more dependent on transactional variability than on a predictable, high-margin software-as-a-service revenue stream.
According to historical data, the company's operating margin of -131.18% in recent periods highlights a fundamental inability to scale revenue faster than its fixed overhead, indicating that the current corporate structure is disproportionately expensive relative to the limited transaction volume generated by its various subsidiaries.
The persistent gap between gross profit and operating income suggests that the technological and administrative overhead required to maintain multiple platforms is currently unsustainable. Without a significant increase in transaction density, the company appears trapped in a cycle of high fixed-cost absorption that prevents any meaningful path toward operational break-even.
Financial statements indicate that with a $7.6 million cash balance and recurring quarterly net losses, the company faces a critical liquidity risk, suggesting that the current burn rate may necessitate dilutive financing or asset divestitures to maintain operations in the absence of a rapid turnaround.
Short-sellers would likely focus on the disconnect between the company's 'super-app' narrative and the reality of its shrinking revenue base. The reliance on external capital to fund ongoing losses warrants further investigation into whether the current asset portfolio holds any long-term strategic value or if it is merely a collection of underperforming, high-maintenance entities.
Quick answers to the most common questions about buying SOPA stock.
For fiscal year 2024, Society Pass Incorporated (SOPA) reported total revenue of $7.1M.
Society Pass Incorporated (SOPA) reported a net loss of $10.2M for the fiscal year ending 2024.
Society Pass Incorporated (SOPA) reported an operating income of $-9.3M, resulting in an operating profit margin of -131.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Society Pass Incorporated (SOPA) generated $1.9M in gross profit for the year, representing a gross profit margin of 26.2%. This demonstrates the company's core pricing power and production efficiency.