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Earnings Call Summary | Treasure Global(TGL.US) Q3 2024 Earnings Conference

Futu News ·  May 16 07:30  · Conference Call

The following is a summary of the Treasure Global Inc (TGL) Q3 2024 Earnings Call Transcript:

Financial Performance:

  • Treasure Global Inc reported a gross profit of $217,000 in Q3, marking a 47% increase from the same period last year.

  • Total revenue, however, shrank to $1.6 million this quarter, down 76% from the previous quarter.

  • The company narrowed its net loss to $1.7 million, a marked improvement from $2.9 million loss in Q3 2023.

  • Cash balance stood at $0.3 million, a significant decline from prior year's figure of $4.1 million.

Business Progress:

  • Treasure Global initiated a move for an ATM offering that aims to secure $2.99 million for funding business innovations.

  • Launch of ZCITY Premium Store has enhanced the company's gross profit growth while collaborations and partnerships have positioned the company to leverage potential in the blockchain market and AI applications.

  • Expansion into Meta's live shopping events and AI integrated gaming, along with securing a $2 million marketing contract, represent forward-looking steps in leveraging AI capabilities.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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