Society Pass (SOPA) AI Stock Analysis

• Market Cap: $21.37M
• Dividend Yield: N/A
• Average Volume (3M): 568.35K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.56
• Revenue Growth: 4.65%
• EPS Growth: 55.05%
• Country: US
• Employees: 40
• Sector: Communication Services
• Sector Strength: 97
• Industry: Software - Application
• EPS (TTM): -3.53
• Shares Outstanding: 7,605,525
• 10 Day Avg. Volume: 1,524,774
• 30 Day Avg. Volume: 568,351
• PEG Ratio: <0.01
• Price to Book (P/B): -1.24
• Price to Sales (P/S): 0.37
• P/FCF Ratio: 1.09
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: $23.75
• Price Target Upside: 782.90% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -0.42
• Revenue Forecast (FY): $8.80M

• Rating: 41 Neutral
• Price Target: $1.50 ▼(-44.24% Downside)

Society Pass faces significant financial challenges, with consistent losses and negative equity. While there are some improvements in cash flow, the overall financial stability is weak. Technical analysis indicates bearish momentum, and the valuation is unattractive due to a negative P/E ratio. These factors contribute to a low overall stock score.

Positive Factors

Revenue Growth

Consistent revenue growth indicates expanding market presence and successful product adoption, supporting long-term business viability.

Cash Flow Improvement

Improved cash flow enhances financial flexibility, enabling investment in growth opportunities and reducing reliance on external financing.

Market Position

Strategic partnerships strengthen market position and broaden service offerings, driving customer engagement and revenue potential.

Negative Factors

Profitability Challenges

Persistent profitability issues highlight operational inefficiencies, potentially hindering long-term financial health and investor confidence.

Financial Stability

Negative equity and high liabilities indicate financial distress, limiting growth potential and increasing risk of insolvency.

Margin Sustainability

Low margins suggest pricing pressures and cost management challenges, which could impede profitability and competitive positioning.

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 through multiple streams, primarily by charging transaction fees on sales made through its e-commerce platform. Additionally, the company offers subscription-based services for merchants who utilize its digital marketing and loyalty solutions. Key partnerships with local businesses and brands enhance its service offerings and expand its merchant network, further contributing to revenue growth. Advertising revenue from featured listings and promotional campaigns also serves as a significant source of income, as companies pay to increase their visibility on the platform.

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, while the balance sheet shows negative equity and high liabilities. Cash flow improvements are a positive sign, but historical trends suggest caution. Overall, the company faces significant financial challenges, with few strengths in liquidity management.

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	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	7.23M	7.11M	8.17M	5.64M	519.88K	52.45K
Gross Profit	3.31M	1.86M	2.47M	966.97K	-190.80K	-36.21K
EBITDA	-9.85M	-9.35M	-16.80M	-30.68M	-31.60M	-2.96M
Net Income	-5.59M	-10.23M	-18.13M	-33.79M	-34.77M	-3.83M
Balance Sheet
Total Assets	33.32M	21.28M	16.36M	32.70M	35.18M	7.87M
Cash, Cash Equivalents and Short-Term Investments	6.60M	7.63M	3.63M	18.93M	23.26M	506.67K
Total Debt	973.43K	866.42K	1.43M	1.57M	629.13K	83.20K
Total Liabilities	19.60M	23.69M	11.33M	12.69M	2.85M	18.28M
Stockholders Equity	14.29M	-2.14M	5.31M	20.35M	32.43M	-10.41M
Cash Flow
Free Cash Flow	-18.89M	2.44M	-14.27M	-15.02M	-10.86M	-1.25M
Operating Cash Flow	-18.87M	2.47M	-13.91M	-14.45M	-10.81M	-1.25M
Investing Cash Flow	-24.10K	-29.96K	-340.25K	177.39K	-246.84K	0.00
Financing Cash Flow	21.34M	1.48M	-785.52K	10.18M	33.82M	1.21M

Society Pass Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.69
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SOPA, the sentiment is Positive. The current price of 2.69 is above the 20-day moving average (MA) of 2.27, above the 50-day MA of 1.82, and above the 200-day MA of 1.54, indicating a bullish trend. The MACD of 0.32 indicates Positive momentum. The RSI at 55.33 is Neutral, neither overbought nor oversold. The STOCH value of 12.41 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SOPA.

Society Pass Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
SMSI	44 Neutral	$14.63M	-0.35	-101.21%	―	-24.08%	70.11%
CXAI	43 Neutral	$10.66M	-0.50	-80.59%	―	-27.47%	83.06%
SOPA	41 Neutral	$21.37M	-1.05	-137.15%	―	4.65%	55.05%

Society Pass Corporate Events

Society Pass Prices $3 Million Best-Efforts Offering

On December 29, 2025, Society Pass announced the pricing of a best-efforts public offering of 1.5 million shares of common stock, or equivalents, at $2.00 per share, for gross proceeds of $3 million, with the transaction scheduled to close on December 31, 2025, subject to customary conditions and with Rodman & Renshaw acting as exclusive placement agent. The capital raise, conducted under an effective SEC registration, is intended to bolster the company’s working capital and fund general corporate purposes, including operating expenses and capital expenditures, providing additional financial flexibility as it pursues growth across its Southeast Asian e-commerce ecosystem.

The most recent analyst rating on (SOPA) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Society Pass stock, see the SOPA Stock Forecast page.

Society Pass Unveils Global AI-Focused M&A Expansion Strategy

Society Pass Incorporated announced a comprehensive mergers and acquisitions strategy aimed at capturing valuation-arbitrage opportunities in privately held companies across Southeast Asia, Europe and North America, particularly in AI data centers, travel, digital advertising and telecommunications, in partnership with regional and global private equity firms. The company also highlighted a December 17, 2025 equity research report from Ascendiant Capital Markets, which maintained a buy rating on Society Pass, raised its 12‑month price target, and argued that the market is significantly undervaluing Society Pass relative to the estimated per-share value of its online travel arm NusaTrip, which completed a Nasdaq IPO in August 2025 but has faced a trading halt since October amid regulatory inquiries; Ascendiant further pointed to Society Pass’s new AI-focused investment strategy, its planned spin-off IPO of digital advertising unit Thoughtful Media, and the long-term growth potential of Southeast Asia’s digital economy despite weaker-than-expected third-quarter 2025 financial results.

The most recent analyst rating on (SOPA) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Society Pass stock, see the SOPA Stock Forecast page.

Society Pass COO Resignation and Position Elimination

On October 31, 2025, Society Pass Incorporated announced the resignation of Mr. Tjin Patrick Soetanto as the Group Chief Operating Officer, effective immediately. His departure was amicable, as it was not due to any disagreements with the company, and the Board also decided to eliminate the COO position from its management structure.

The most recent analyst rating on (SOPA) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Society Pass stock, see the SOPA Stock Forecast page.

Society Pass Holds Annual Stockholders Meeting

On October 21, 2025, Society Pass Incorporated held its Annual Meeting of Stockholders, where a quorum was achieved with 84.39% of eligible votes present. During the meeting, several proposals were voted on, including the election of directors and the ratification of auditors, with most directors receiving overwhelming support except for Loic Gautier, who subsequently resigned as a director without any disagreement with the Board or the Company.

The most recent analyst rating on (SOPA) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Society Pass stock, see the SOPA Stock Forecast page.