The company has failed to generate any revenue over the last ten quarters, while consistently reporting SG&A expenses like the $223.1K recorded in 2025Q4.
| Sales/Revenue | 0 | 97.53M | 77.44M | 65.83M | 65.83M |
| Revenue Growth % | -100% | 25.94% | 17.65% | - | - |
| Cost of Goods Sold | 0 | 84.22M | 63.6M | 55.25M | 55.25M |
| COGS % of Revenue | - | 86.34% | 82.12% | 83.93% | 83.93% |
| Gross Profit | 0 | 13.32M | 13.85M | 10.58M | 10.58M |
| Gross Margin % | - | 13.65% | 17.88% | 16.07% | 16.07% |
| Gross Profit Growth % | -100% | -3.81% | 30.86% | - | - |
| Operating Expenses | 2.13M | 15.71M | 10.24M | 6.54M | 6.54M |
| OpEx % of Revenue | - | 16.11% | 13.23% | 9.94% | 9.94% |
| Selling, General & Admin | 1.93M | 15.71M | 10.24M | 6.54M | 6.54M |
| SG&A % of Revenue | - | 16.11% | 13.23% | 9.94% | 9.94% |
| Research & Development | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - |
| Other Operating Expenses | 200K | -885.92K | -435.31K | -169 | 0 |
| Operating Income | -2.13M | -2.39M | 3.6M | 4.04M | 4.04M |
| Operating Margin % | - | -2.45% | 4.65% | 6.14% | 6.14% |
| Operating Income Growth % | 10.86% | -166.48% | -10.84% | - | - |
| EBITDA | -772K | -22K | 5.11M | 4.66M | 4.66M |
| EBITDA Margin % | - | -0.02% | 6.6% | 7.08% | 7.08% |
| EBITDA Growth % | -3409.09% | -100.43% | 9.58% | - | - |
| D&A (Non-Cash Add-back) | 0 | 2.37M | 1.51M | 623.46K | 623.46K |
| EBIT | -772K | -1.4M | 2.95M | 5.46M | 5.46M |
| Net Interest Income | 1.36M | -508K | -191K | -118K | -118K |
| Interest Income | 1.36M | 2.1M | 1.19M | 0 | 0 |
| Interest Expense | 0 | 507.8K | 191.15K | 117.56K | 117.56K |
| Other Income/Expense | 0 | 983.47K | -840K | 1.31M | 1.31M |
| Pretax Income | -772K | -1.41M | 2.76M | 5.34M | 5.34M |
| Pretax Margin % | - | -1.45% | 3.57% | 8.12% | 8.12% |
| Income Tax | 244.06K | 550.47K | 620.14K | 758.14K | 758.14K |
| Effective Tax Rate % | -31.61% | -39.03% | 22.46% | 14.18% | 14.18% |
| Net Income | -1.02M | -1.37M | 1.99M | 4.56M | 4.56M |
| Net Margin % | - | -1.41% | 2.56% | 6.93% | 6.93% |
| Net Income Growth % | 26.06% | -169.18% | -56.48% | - | - |
| Net Income (Continuing) | -1.02M | -1.96M | 2.14M | 4.59M | 4.59M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 2.37M | 2.77M | 23.77K | 23.77K |
| EPS (Diluted) | -0.18 | -0.01 | 0.02 | 0.04 | 0.04 |
| EPS Growth % | -1551.38% | -169.43% | -56.51% | - | - |
| EPS (Basic) | -0.18 | -0.01 | 0.02 | 0.04 | 0.04 |
| Diluted Shares Outstanding | 5.5M | 126.22M | 126.22M | 126.22M | 126.22M |
| Basic Shares Outstanding | 5.5M | 126.22M | 126.22M | 126.22M | 126.22M |
| Dividend Payout Ratio | - | - | - | - | - |
Liquidity and revenue opacity
As indicated by the provided financial data, GCL has reported zero revenue across the last ten quarters, rendering traditional growth analysis impossible and suggesting that the company may be in a pre-revenue or transitional phase that warrants extreme caution from prospective investors regarding future top-line performance.
The complete absence of revenue figures across the entire historical dataset prevents any assessment of organic growth or market penetration. Investors should monitor whether this reflects a fundamental shift in business model or a reporting anomaly that obscures the company's actual commercial activity.
According to the reported income statements, GCL consistently incurs SG&A expenses, such as the $750.5K recorded in 2025Q2, without generating corresponding revenue, which highlights a structural reliance on external capital to sustain basic administrative and operational overheads in the absence of a functional gross profit engine.
The persistent SG&A spend without any offsetting COGS or revenue suggests that the company is currently operating as a cost center rather than a commercial entity. This expense discipline appears insufficient to reach profitability, as the lack of revenue generation makes these costs purely dilutive to shareholder value.
Based on the provided financial statements, GCL's net income fluctuates between positive and negative values, such as the $41.0K profit in 2025Q4 versus a $485.0K loss in 2025Q2, indicating that earnings are likely driven by non-operating items rather than core business profitability or sustainable operational performance.
The erratic nature of the bottom line suggests that reported net income is not a reliable indicator of operational health. Analysts should investigate whether these periodic profits are derived from one-time accounting adjustments or asset disposals, as they do not appear to correlate with any underlying revenue-generating activity.
As highlighted by industry trends, the shift toward direct-to-consumer digital distribution by major publishers poses a significant threat to GCL's intermediary model, potentially rendering their core distribution services obsolete and forcing a pivot toward higher-risk publishing ventures that the current cost structure may not support.
The lack of proprietary IP or a scalable digital platform leaves the company vulnerable to being bypassed by global publishers. If the company cannot transition from a traditional distributor to a value-added service provider, the current operating losses may become a permanent feature of the income statement.
Quick answers to the most common questions about buying GCL stock.
For fiscal year 2025, GCL Global Holdings Ltd Ordinary Shares (GCL) reported total revenue of $0.0M. This represents a 100.0% decline compared to $65.8M in 2021.
GCL Global Holdings Ltd Ordinary Shares (GCL) reported a net loss of $1.0M for the fiscal year ending 2025.