Society Pass (SOPA) AI Stock Analysis

• Market Cap: $6.16M
• Dividend Yield: N/A
• Average Volume (3M): 115.23K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.20
• Revenue Growth: -15.60%
• EPS Growth: 64.21%
• Country: US
• Employees: 40
• Sector: Technology
• Sector Strength: 94
• Industry: Software - Application
• EPS (TTM): -3.53
• Shares Outstanding: 5,011,061
• 10 Day Avg. Volume: 54,969
• 30 Day Avg. Volume: 115,234
• PEG Ratio: -0.03
• Price to Book (P/B): -7.61
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 7.79
• Enterprise Value/Market Cap: -0.02
• Enterprise Value/Revenue: >-0.01
• Enterprise Value/Gross Profit: -0.08
• Enterprise Value/Ebitda: <0.01
• 1Y Price Target: $15.00
• Price Target Upside: 1119.51% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 47 Neutral
• Price Target: $1.00 ▼(-18.70%Downside)

The overall score is primarily influenced by the company's weak financial performance, characterized by consistent losses and financial instability. While there are slight technical strengths, the negative valuation metrics significantly impact the score. Improvements in cash flow offer some optimism, but historical challenges remain a concern.

Positive Factors

Business Strategy

The company announced plans to spinoff two of its businesses in IPOs, which are believed to drive significant value to Society Pass’s shareholders and be key catalysts for the company.

Company Valuation

The company’s market capitalization is only ~$4 million while it has ~$8 million in cash, implying its shares are undervalued.

Market Opportunities

Continued strong economic expansion, robust population growth, rising level of urbanization, the emergence of the middle class, and the increasing rate of adoption of mobile technology provide large and fast growing market opportunities for Society Pass in Southeast Asia.

Negative Factors

Lack of Financial Guidance

The company has not provided any financial guidance, and has not updated its expectations to have 2 IPO spinoffs in 2024/2025.

Society Pass Business Overview & Revenue Model

Company Description

Society Pass Incorporated engages in the acquisition and operation of e-commerce platforms for consumers and merchants in Southeast Asia. It operates in two segments, E-Commerce and Merchant POS. The company's e-commerce interfaces include lifestyle platforms, such as Leflair App and Leflair.com website; food and beverage (F&B) delivery platforms comprising Pushkart App, Pushkart.ph website, Handycart App, and Handycart.vn website; merchant software segment that consists of #HOTTAB Biz App, #HOTTAB POS App, and Hottab.net website; and loyalty platforms, such as Society Pass App and SoPa.asia website. Its loyalty-focused and data-driven e-commerce marketing platform interfaces connect consumers with merchants in the F&B and lifestyle sectors. The company was formerly known as Food Society, Inc. and changed its name to Society Pass Incorporated in October 2018. Society Pass Incorporated was incorporated in 2018 and is headquartered in Singapore.

How the Company Makes Money

Society Pass generates revenue primarily through its e-commerce marketplaces, where it facilitates transactions between consumers and merchants and earns commission fees. The company also monetizes its platform by offering digital payment solutions, which include transaction fees and service charges. Additionally, SOPA capitalizes on its loyalty programs by partnering with merchants to drive customer engagement and repeat purchases, which further strengthens its revenue streams. Strategic partnerships with local and international brands help expand its market reach and enhance its service offerings.

Society Pass Financial Statement Overview

Summary

Society Pass exhibits growth in revenue but struggles with profitability and financial stability. The income statement highlights consistent losses, with a negative net profit margin, although slightly improved. The balance sheet is concerning with negative equity and liabilities exceeding assets, but liquidity is a small strength. Cash flow shows improvement with positive operating cash flow in 2024, yet historical negativity suggests caution.

Income Statement

Society Pass has shown some revenue growth over the years, but profitability remains a significant concern. The company reported negative net income consistently, with a net profit margin of -0.14% in 2024, an improvement compared to -221.88% in 2023. The gross profit margin is also low at 26.22% for 2024. EBIT and EBITDA margins are negative, indicating operational challenges. Despite revenue growth, the inability to translate it into profit is a major weakness.

Balance Sheet

The balance sheet reflects a challenging situation with negative stockholders' equity in 2024, indicating financial instability. The debt-to-equity ratio cannot be calculated due to negative equity, posing a risk. Total liabilities exceed total assets, and the equity ratio is -10.05%, highlighting financial distress. However, the company has maintained a good cash position with cash and cash equivalents exceeding short-term debt, presenting some liquidity strength.

Cash Flow

Cash flow analysis shows a positive operating cash flow in 2024, a significant improvement from negative values in previous years. The free cash flow to net income ratio is high due to minimal net income, but the free cash flow growth rate is remarkable. Despite these improvements, the historical trend of negative free cash flow and operating cash flow raises concerns about long-term sustainability.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.11M	8.17M	5.64M	519.88K	52.45K
Gross Profit	1.86M	2.47M	966.97K	-190.80K	-36.21K
EBITDA	-9.35M	-16.80M	-30.68M	-31.60M	-2.94M
Net Income	-10.23M	-18.13M	-33.79M	-34.77M	-3.83M
Balance Sheet
Total Assets	21.28M	16.36M	32.70M	35.18M	7.87M
Cash, Cash Equivalents and Short-Term Investments	7.63M	3.63M	18.93M	23.26M	506.67K
Total Debt	866.42K	1.43M	1.57M	629.13K	83.20K
Total Liabilities	23.69M	11.33M	12.69M	2.85M	18.28M
Stockholders Equity	-2.14M	5.31M	20.35M	32.43M	-10.41M
Cash Flow
Free Cash Flow	2.44M	-14.27M	-15.02M	-10.86M	-1.25M
Operating Cash Flow	2.47M	-13.91M	-14.45M	-10.81M	-1.25M
Investing Cash Flow	-29.96K	-340.25K	177.39K	-246.84K	0.00
Financing Cash Flow	1.48M	-785.52K	10.18M	33.82M	1.21M

Society Pass Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 1.23
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SOPA, the sentiment is Neutral. The current price of 1.23 is below the 20-day moving average (MA) of 1.28, below the 50-day MA of 1.29, and above the 200-day MA of 1.20, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 45.56 is Neutral, neither overbought nor oversold. The STOCH value of 26.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SOPA.

Society Pass Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VERB	66 Neutral	$12.95M	―	-66.08%	―	3125.00%	98.06%
Sector *	63 Neutral	$34.60B	5.43	-11.64%	1.84%	5.30%	-18.55%
IDAI	53 Neutral	$7.45M	―	-369.03%	―	-34.68%	-265.79%
SOPA	47 Neutral	$6.16M	―	-528.72%	―	-15.60%	64.21%
FTFT	―	$13.01M	―	-79.06%	―	―	―
OLB	40 Underperform	$4.44M	―	-148.68%	―	-57.50%	65.30%
TGL	38 Underperform	$4.26M	―	-8.88%	―	-96.03%	95.03%

Society Pass Corporate Events

Society Pass Granted Nasdaq Listing Extension

Society Pass Incorporated faced a potential delisting from the Nasdaq Capital Market due to non-compliance with the stockholders’ equity requirement. However, after a hearing on April 1, 2025, the Nasdaq Hearings Panel granted the company an exception to maintain its listing, initially until June 30, 2025, and later extended to August 18, 2025, contingent upon the company demonstrating compliance with the equity rule and other listing criteria.

The most recent analyst rating on (SOPA) stock is a Buy with a $19.00 price target. To see the full list of analyst forecasts on Society Pass stock, see the SOPA Stock Forecast page.

Society Pass Announces Share Purchase Agreement

On June 23, 2025, Society Pass Incorporated entered into a Share Purchase Agreement with an accredited investor to issue and sell 300,000 shares of its common stock at $1.00 per share, generating gross proceeds of $300,000. The transaction was a private placement exempt from registration under the Securities Act of 1933, with the closing expected around June 27, 2025, pending customary conditions.

The most recent analyst rating on (SOPA) stock is a Buy with a $19.00 price target. To see the full list of analyst forecasts on Society Pass stock, see the SOPA Stock Forecast page.

Society Pass Restructures After CTO Resignation

On June 20, 2025, Society Pass Incorporated announced the resignation of Mr. Howie Ng Kar How as the Group Chief Technology Officer. His departure was amicable, as it was not due to any disagreement with the company. Following his resignation, the Board decided to eliminate the CTO position from the management team, indicating a possible restructuring or shift in strategic focus.

The most recent analyst rating on (SOPA) stock is a Buy with a $19.00 price target. To see the full list of analyst forecasts on Society Pass stock, see the SOPA Stock Forecast page.

Society Pass Increases Authorized Shares to 50 Million

On June 2, 2025, Society Pass Incorporated filed a Charter Amendment with the Secretary of State for Nevada, increasing its authorized shares of Common Stock from 6,333,333 to 50,000,000. This amendment, approved by the company’s stockholders, is expected to impact the company’s operations by potentially expanding its market presence and providing more flexibility for future growth and investment opportunities.

The most recent analyst rating on (SOPA) stock is a Buy with a $19.00 price target. To see the full list of analyst forecasts on Society Pass stock, see the SOPA Stock Forecast page.

Society Pass Restructures After CMO Resignation

On April 30, 2025, Society Pass Incorporated’s Board of Directors accepted the resignation of Mr. Rokas Sidlauskas as the Group Chief Marketing Officer. His departure was amicable and not due to any disagreements with the company. Concurrently, the Board decided to eliminate the position of Group Chief Marketing Officer from its management team, indicating a potential restructuring or strategic shift within the company.