OxPay Financial Limited (SG:TVV)
SGX:TVV
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OxPay Financial Limited
(SGX:TVV)
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Rating:42Neutral
Price Target:
S$0.03
▼(-32.00% Downside)
Action:Reiterated
Date:06/09/26
The score is held down primarily by weak financial fundamentals—large ongoing losses, persistent cash burn, and a deteriorated balance sheet with negative equity. Technicals also remain unfavorable with the stock trading below major moving averages and negative MACD. Valuation provides limited support because a negative P/E reflects losses and no dividend yield is available.
Positive Factors
Revenue Growth Momentum
A material revenue rebound in 2025 and multi-year positive revenue growth indicate improving product-market fit for OxPay’s payments offerings. Sustained top-line growth supports operational leverage potential, helps spread fixed costs, and underpins a pathway to margin recovery if maintained.
Negative Factors
Deep and Persistent Unprofitability
A roughly -61% net margin shows entrenched operating losses that are not simply cyclical. Persistent negative profitability erodes retained capital, limits reinvestment capacity, and requires sustained external financing or drastic margin improvement to reach self-sufficiency, constraining strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
A material revenue rebound in 2025 and multi-year positive revenue growth indicate improving product-market fit for OxPay’s payments offerings. Sustained top-line growth supports operational leverage potential, helps spread fixed costs, and underpins a pathway to margin recovery if maintained.
Read all positive factors
OxPay Financial Limited (TVV) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$11.63M
Dividend YieldN/A
Average Volume (3M)1.00M
Price to Earnings (P/E)―
Beta (1Y)0.29
Revenue Growth23.30%
EPS Growth-46.43%
CountrySG
Employees37
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding342,094,150
10 Day Avg. Volume1,585,830
30 Day Avg. Volume1,003,446
Financial Highlights & Ratios
PEG Ratio0.49
Price to Book (P/B)-11.91
Price to Sales (P/S)3.22
P/FCF Ratio-4.76
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
OxPay Financial Limited Business Overview & Revenue Model
Company Description
OxPay Financial Limited, a Singapore-based company founded in 2005, specializes in providing comprehensive merchant payment and digital commerce enablement solutions across Singapore, Malaysia, and Thailand. The company delivers versatile online-t...
How the Company Makes Money
OxPay Financial Limited makes money primarily through transaction fees earned from payment processing services it provides to merchants. These fees are typically charged as a percentage of the transaction value or as fixed charges depending on the...
OxPay Financial Limited Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
22
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.85M | 4.84M | 3.63M | 8.32M | 9.87M | 17.54M |
| Gross Profit | 843.00K | 2.10M | 2.32M | 2.45M | 2.56M | 10.26M |
| EBITDA | -1.61M | -2.69M | -3.03M | -1.19M | -179.00K | -26.63M |
| Net Income | -1.79M | -2.93M | -3.24M | -1.36M | -473.00K | -27.06M |
Balance Sheet | ||||||
| Total Assets | 4.72M | 3.93M | 6.07M | 16.74M | 26.13M | 30.50M |
| Cash, Cash Equivalents and Short-Term Investments | 2.76M | 2.13M | 4.16M | 9.40M | 22.11M | 26.45M |
| Total Debt | 2.15M | 2.23M | 1.20M | 823.00K | 28.00K | 24.00K |
| Total Liabilities | 7.49M | 5.78M | 5.27M | 12.62M | 20.64M | 25.07M |
| Stockholders Equity | -2.18M | -1.31M | 1.26M | 4.53M | 5.83M | 5.89M |
Cash Flow | ||||||
| Free Cash Flow | -2.75M | -3.27M | -5.35M | -13.58M | -4.12M | 19.98M |
| Operating Cash Flow | -2.69M | -3.15M | -5.21M | -13.51M | -3.90M | 20.06M |
| Investing Cash Flow | 517.04K | -136.00K | -141.00K | -71.00K | -198.00K | 1.17M |
| Financing Cash Flow | -143.95K | 1.28M | 126.00K | 765.00K | -190.00K | 1.83M |
OxPay Financial Limited Technical Analysis
Negative
0.05
Price Trends
0.04
Negative
0.04
Negative
0.05
Negative
Market Momentum
>-0.01
Positive
36.15
Neutral
6.55
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:TVV, the sentiment is Negative. The current price of 0.05 is above the 20-day moving average (MA) of 0.04, above the 50-day MA of 0.04, and above the 200-day MA of 0.05, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 36.15 is Neutral, neither overbought nor oversold. The STOCH value of 6.55 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:TVV.
OxPay Financial Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | S$232.20M | 15.89 | 64.56% | 1.99% | 29.22% | 21.76% | |
72 Outperform | S$312.30M | 93.11 | 15.62% | 5.52% | -5.54% | -22.51% | |
69 Neutral | S$2.78B | 25.52 | 28.29% | 0.79% | 38.85% | 50.42% | |
66 Neutral | S$42.50M | 23.23 | 1.93% | 26.09% | 11.20% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
42 Neutral | S$11.63M | -4.39 | 9999.00% | ― | 23.30% | -46.43% |
* Technology Sector Average
SG:TVV
OxPay Financial Limited
0.03
0.01
47.83%
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OxPay Financial Limited Corporate Events
OxPay Extends Deadline Again for Convertible Loan Facility Approvals
May 26, 2026
OxPay Financial Limited has announced a further extension of the deadline to satisfy conditions under its convertible loan agreement with Oxley Capital Management, pushing the date from 28 May 2026 to 28 November 2026. The move is intended to give...
OxPay details use of S$963,000 share subscription proceeds
May 12, 2026
OxPay Financial Limited has provided an update on the deployment of net proceeds amounting to approximately S$963,000 raised from a recent subscription of 30,841,000 new ordinary shares. The funds were earmarked for general working capital needs a...
OxPay taps AXS founder Joey Chang to steer phased recovery and B2C push
May 11, 2026
OxPay Financial has appointed Joey Chang, founder and former CEO of AXS, as a non-executive independent director to deepen its expertise in digital payments. Chang brings 25 years of experience building AXS into a widely used consumer and governme...
OxPay reshapes board committees after new lead independent director appointment
May 11, 2026
OxPay Financial Limited has reconstituted its board committees following the retirement of former non-executive lead independent director Kesavan Nair and the appointment of Joey Chang Wei Nang to the same role. Chang will now chair the remunerati...
OxPay Shareholders Back Routine AGM Resolutions and Expand Board Issuance Mandate
May 11, 2026
OxPay Financial Limited held its annual general meeting in Singapore, where shareholders considered routine matters including the adoption of audited financial statements for the year ended 31 December 2025 and the re-election of key board members...
OxPay Wins Bhutan Payment Licence and Hires Veteran CEO to Drive South Asia Push
May 3, 2026
OxPay Financial’s wholly owned subsidiary Oxygen7 has secured a Financial Services Licence in Bhutan’s Gelephu Mindfulness City, allowing it to offer regulated merchant payment and business remittance services using credit cards, e-wal...
OxPay outlines regional expansion and new B2C platform in response to shareholder queries
Apr 21, 2026
OxPay Financial Limited has addressed shareholder concerns ahead of its April 2026 annual general meeting, outlining efforts to stem four years of mounting losses through technology upgrades and a broadened geographic and product footprint. The Gr...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.