The company's revenue trajectory remains severely challenged, with quarterly performance contracting significantly to $1.5 million in 2026Q3 alongside a negligible 0.4% gross margin.
| Sales/Revenue | 3.92M | 2.33M | 22.07M | 69.41M | 79.67M | 14.02M | 268.17K |
| Revenue Growth % | 166.83% | -89.44% | -68.21% | -12.89% | 468.28% | 5128.24% | - |
| Cost of Goods Sold | 3.12M | 660.73K | 21.25M | 68.89M | 79.2M | 13.88M | 225.17K |
| COGS % of Revenue | - | 28.35% | 96.3% | 99.25% | 99.4% | 99% | 83.97% |
| Gross Profit | 796.03K | 1.67M | 816.06K | 523.28K | 476.19K | 139.94K | 42.99K |
| Gross Margin % | 20.31% | 71.65% | 3.7% | 0.75% | 0.6% | 1% | 16.03% |
| Gross Profit Growth % | - | 104.62% | 55.95% | 9.89% | 240.27% | 225.51% | - |
| Operating Expenses | 31.83M | 23.7M | 6.88M | 10.76M | 10.65M | 7.73M | 153.97K |
| OpEx % of Revenue | - | 1017% | 31.17% | 15.5% | 13.37% | 55.17% | 57.41% |
| Selling, General & Admin | 9.52M | 3.5M | 6.37M | 10.21M | 10.39M | 7.3M | 98.58K |
| SG&A % of Revenue | - | 150.23% | 28.85% | 14.71% | 13.04% | 52.06% | 36.76% |
| Research & Development | 1.01M | 215.9K | 513.52K | 549.07K | 266.72K | 435.47K | 55.39K |
| R&D % of Revenue | - | 9.26% | 2.33% | 0.79% | 0.33% | 3.11% | 20.66% |
| Other Operating Expenses | 2.33M | 19.98M | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -31.03M | -22.03M | -6.06M | -10.24M | -10.18M | -7.59M | -110.97K |
| Operating Margin % | -791.85% | -945.35% | -27.48% | -14.75% | -12.77% | -54.17% | -41.38% |
| Operating Income Growth % | - | -263.38% | 40.77% | -0.59% | -34% | -6743.74% | - |
| EBITDA | -30.08M | -21.16M | -5.3M | -10.09M | -10.12M | -7.59M | -110.97K |
| EBITDA Margin % | -767.55% | -907.86% | -24.01% | -14.54% | -12.7% | -54.1% | -41.38% |
| EBITDA Growth % | -1276.14% | -299.39% | 47.51% | 0.23% | -33.37% | -6735.25% | - |
| D&A (Non-Cash Add-back) | 952.65K | 873.65K | 765.38K | 143.52K | 60.6K | 9.63K | 3 |
| EBIT | -13.02M | -5.24M | -6.11M | -10.24M | -10.12M | -7.52M | -110.97K |
| Net Interest Income | -3.65K | -5K | -433.2K | -1.39M | -1.61M | -402.86K | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 3.65K | 5K | 433.2K | 1.39M | 1.61M | 402.86K | 0 |
| Other Income/Expense | 493.53K | -996.09K | -483.93K | -1.39M | -1.55M | -326.81K | 0 |
| Pretax Income | -30.54M | -23.03M | -6.55M | -11.63M | -11.73M | -7.92M | -110.97K |
| Pretax Margin % | -779.26% | -988.09% | -29.67% | -16.76% | -14.72% | -56.5% | -41.38% |
| Income Tax | 478.66K | 349.49K | 39.72K | 97.62K | 15.6K | 2K | 0 |
| Effective Tax Rate % | -1.57% | -1.52% | -0.61% | -0.84% | -0.13% | -0.03% | 0% |
| Net Income | -31.02M | -23.38M | -6.59M | -11.73M | -11.75M | -7.92M | -110.97K |
| Net Margin % | -791.47% | -1003.09% | -29.85% | -16.9% | -14.74% | -56.51% | -41.38% |
| Net Income Growth % | -2017.14% | -254.92% | 43.84% | 0.16% | -48.24% | -7040.03% | - |
| Net Income (Continuing) | -31.02M | -23.38M | -6.59M | -11.73M | -11.75M | -7.92M | -110.97K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -18.51 | -19.87 | -383.54 | -2459.10 | -3986.50 | -2629.87 | -36.82 |
| EPS Growth % | 82.77% | 94.82% | 84.4% | 38.31% | -51.59% | -7042.49% | - |
| EPS (Basic) | - | -19.87 | -383.54 | -2459.10 | -3986.50 | -2629.87 | -36.82 |
| Diluted Shares Outstanding | 1.68M | 1.18M | 17.17K | 4.77K | 2.95K | 3.01K | 3.01K |
| Basic Shares Outstanding | 1.68M | 1.18M | 17.17K | 4.77K | 2.95K | 3.01K | 3.01K |
| Dividend Payout Ratio | - | - | - | - | - | - | - |
Imminent liquidity shortfall
As reported in recent financial filings, TGL experienced a severe contraction in top-line performance, with quarterly revenue plummeting from $6.7 million in 2024Q2 to just $1.5 million by 2026Q3, signaling a fundamental breakdown in the company's ability to maintain its merchant and user ecosystem.
The dramatic decline in revenue suggests that the Z-City platform has failed to achieve the necessary network effects to compete with established regional incumbents. Investors should monitor whether this trend reflects a permanent loss of market share or a strategic pivot in revenue recognition that obscures underlying transaction volume.
According to historical income statements, TGL's gross margin has fluctuated wildly, ranging from a low of 0.1% in 2026Q2 to a peak of 83.0% in 2025Q1, indicating that the company lacks a stable or predictable cost-of-goods-sold structure relative to its transactional revenue.
While the high-margin potential of a digital platform is theoretically attractive, the extreme volatility suggests that direct costs are not scaling efficiently with revenue. This inconsistency implies that the company's pricing power is likely non-existent, leaving it vulnerable to competitive pressure and rising operational costs.
Based on the provided financial data, TGL's operating margin reached a staggering -945.35% in recent periods, demonstrating that the company's fixed overhead costs are entirely disconnected from its current revenue-generating capacity and ability to achieve operational scale.
The persistent inability to align SG&A expenses with the shrinking revenue base suggests a structural inefficiency that threatens the company's status as a going concern. Without a drastic reduction in fixed costs, the current operating model appears unsustainable regardless of any potential improvements in gross margin.
As indicated by the income statement, TGL's net income is consistently negative, with significant stock-based compensation expenses, such as the $787.2K recorded in 2026Q2, further diluting shareholder value while the core business continues to burn through its limited cash reserves.
The reliance on equity-based compensation during a period of extreme revenue contraction warrants investigation into management's alignment with long-term shareholder interests. Investors should be wary of the potential for further dilutive financing, which appears increasingly likely given the company's current cash-to-burn ratio.
Based on reported figures, TGL's cash balance of only $236,895 against massive quarterly operating losses suggests that the company faces an imminent liquidity crisis that may force a cessation of operations or a highly dilutive capital raise in the near term.
Short-sellers would likely focus on the disparity between the company's 'super-app' narrative and the reality of its rapidly depleting cash position. The lack of a clear path to profitability suggests that the current valuation may be disconnected from the underlying risk of total capital loss.
Quick answers to the most common questions about buying TGL stock.
For fiscal year 2025, Treasure Global Inc. (TGL) reported total revenue of $2.3M. This represents a 769.1% increase compared to $0.3M in 2020.
Treasure Global Inc. (TGL) reported a net loss of $23.4M for the fiscal year ending 2025.
Treasure Global Inc. (TGL) reported an operating income of $-22.0M, resulting in an operating profit margin of -945.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Treasure Global Inc. (TGL) generated $1.7M in gross profit for the year, representing a gross profit margin of 71.6%. This demonstrates the company's core pricing power and production efficiency.