Treasure Global, Inc. (TGL) AI Stock Analysis

• Market Cap: $7.49M
• Dividend Yield: N/A
• Average Volume (3M): 4.34M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.46
• Revenue Growth: -73.83%
• EPS Growth: 98.11%
• Country: US
• Employees: 25
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): -0.38
• Shares Outstanding: 1,526,364
• 10 Day Avg. Volume: 1,269,950
• 30 Day Avg. Volume: 4,339,695
• PEG Ratio: 0.01
• Price to Book (P/B): 2.41
• Price to Sales (P/S): 11.11
• P/FCF Ratio: -2.73
• Enterprise Value/Market Cap: 2.34
• Enterprise Value/Revenue: 7.62
• Enterprise Value/Gross Profit: 11.72
• Enterprise Value/Ebitda: -4.94
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: $4.50 ▼(-33.63% Downside)

The score is held down primarily by weak financial performance (declining revenue, continued losses, and negative operating/free cash flow). Technicals also signal a sustained downtrend (price below key moving averages with negative MACD). Valuation provides limited support due to a negative P/E and no dividend, while corporate events are mixed with a notable delisting-risk headline.

Positive Factors

Strategic refocus to asset-light fintech

The company’s divestiture of a non-core F&B platform to concentrate on asset-light fintech and digital-asset businesses is a durable strategic shift. Redirecting capital and management attention toward higher-margin, scalable digital operations can improve long-term revenue mix and operational leverage over months.

AI deal amendment converts excess payment to equity

Converting an overpayment into an equity stake in its AI partner and eliminating future cash obligations materially reduces near-term cash drain and aligns incentives with the technology provider. This improves cost predictability for AI capabilities and supports long-term product development without recurring cash outflows.

Low debt and improved equity position

A low debt-to-equity ratio and recovery from negative to positive equity provide structural financial flexibility. With limited leverage, the company has greater capacity to fund operations, negotiate partnerships, or absorb shocks while pursuing strategic initiatives, important given current profitability challenges.

Negative Factors

Negative operating and free cash flows

Persistent negative operating and free cash flows indicate the business is not self-funding core activities. Over 2-6 months this constrains investment in growth, forces management to prioritize liquidity actions, and increases dependency on external financing or asset sales to sustain operations and execution.

Nasdaq listing and compliance risk

A Nasdaq delisting notice due to persistent bid-price noncompliance is a material structural risk. Even with an appeal, potential delisting can impair access to capital markets, reduce institutional investor interest, and damage credibility with partners and customers, affecting long-term financing and growth options.

Reliance on external financing / dilution risk

A recent $2.5M direct equity raise underscores reliance on external capital to fund operations. Repeated financings dilute existing shareholders and signal limited internal cash generation. Over months, this constrains capital allocation, increases financing risk, and can hinder long-term investor confidence.

Treasure Global, Inc. Business Overview & Revenue Model

Company Description

Treasure Global, Inc. (TGL) is a technology-driven company focused on enhancing the retail and e-commerce experience through its innovative payment solutions and digital wallet services. Operating primarily in the fintech sector, TGL offers a suite of products that enables consumers and merchants to transact seamlessly and securely. Its core services include digital payment processing, loyalty programs, and advanced analytics that empower businesses to maximize customer engagement and retention.

How the Company Makes Money

TGL generates revenue through multiple streams. The primary revenue model is based on transaction fees charged to merchants for processing payments through its platform. Additionally, the company earns income from subscription services offered to businesses for access to advanced analytics and customer insights. TGL also benefits from partnerships with financial institutions and retail networks, which help to expand its customer base and enhance service offerings. Furthermore, the company may generate additional revenue through advertising and promotional services integrated within its digital wallet platform, leveraging user engagement to drive further monetization.

Treasure Global, Inc. Financial Statement Overview

Summary

Weak fundamentals: declining revenues, ongoing losses (negative net profit and EBIT margins), and negative operating/free cash flow. Low debt-to-equity and improved equity position are positives, but overall profitability and cash generation remain major risks.

Income Statement

Treasure Global, Inc. has experienced declining revenues over the periods, with a negative revenue growth rate in the TTM. The company also shows negative net profit and EBIT margins, indicating ongoing losses. The gross profit margin is relatively high, but the overall profitability is severely impacted by high operating losses.

Balance Sheet

The balance sheet shows a low debt-to-equity ratio, which is positive, but the return on equity is negative, reflecting poor profitability. The equity ratio is also low, indicating limited shareholder equity relative to total assets. The company has improved its equity position from negative to positive, which is a positive sign.

Cash Flow

The cash flow statement reveals negative operating and free cash flows, with a slight improvement in free cash flow growth in the TTM. However, the operating cash flow to net income ratio is negative, indicating cash flow issues. The free cash flow to net income ratio is slightly above 1, suggesting that cash flow is somewhat aligned with net income.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.31M	2.33M	22.07M	69.41M	79.67M	14.02M
Gross Profit	1.50M	1.67M	816.06K	523.28K	476.19K	139.94K
EBITDA	-3.56M	-4.37M	-5.35M	-10.10M	-10.06M	-7.51M
Net Income	-24.56M	-23.38M	-6.59M	-11.73M	-11.75M	-7.92M
Balance Sheet
Total Assets	16.59M	14.87M	4.28M	6.37M	2.70M	3.69M
Cash, Cash Equivalents and Short-Term Investments	1.25M	236.90K	371.65K	4.59M	1.85M	2.84M
Total Debt	115.35K	159.24K	64.71K	5.03M	14.89M	5.07M
Total Liabilities	4.62M	4.13M	897.85K	6.50M	18.30M	10.21M
Stockholders Equity	11.97M	10.74M	3.38M	-130.33K	-15.60M	-6.52M
Cash Flow
Free Cash Flow	-11.12M	-9.48M	-4.92M	-9.65M	-8.98M	-6.88M
Operating Cash Flow	-10.46M	-9.48M	-4.71M	-9.56M	-8.66M	-6.80M
Investing Cash Flow	-5.11M	-5.77M	-252.61K	-61.24K	-311.74K	-84.85K
Financing Cash Flow	16.78M	15.43M	350.47K	12.66M	8.16M	9.80M

Treasure Global, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.78
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TGL, the sentiment is Negative. The current price of 6.78 is above the 20-day moving average (MA) of 6.29, below the 50-day MA of 8.62, and below the 200-day MA of 21.27, indicating a bearish trend. The MACD of -0.99 indicates Negative momentum. The RSI at 36.98 is Neutral, neither overbought nor oversold. The STOCH value of 9.90 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TGL.

Treasure Global, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
LGCL	53 Neutral	$5.89M	0.04	2.46%	―	―	―
QH	49 Neutral	$886.98K	0.43	0.62%	―	-28.50%	―
GITS	47 Neutral	$13.85M	―	―	―	―	―
SGN	44 Neutral	$2.94M	-0.05	―	―	-36.45%	82.61%
TGL	41 Neutral	$7.49M	-0.04	-269.14%	―	-73.83%	98.11%

Treasure Global, Inc. Corporate Events

Treasure Global Amends AI Services Deal, Gains Equity Stake

On December 26, 2025, Treasure Global, Inc. entered into a third supplemental letter agreement with V Gallant SDN BHD to amend their existing services arrangement for generative AI solutions and AI digital human technology, reducing the total consideration from $16 million to $10.8 million. As the company had already paid $16 million under the original terms, the amended consideration is deemed fully satisfied, and the $5.2 million excess will be converted into V Gallant Limited shares at $4.00 per share, giving Treasure Global an equity stake in its AI technology partner and eliminating any further payment obligations for these services.

The most recent analyst rating on (TGL) stock is a Sell with a $9.50 price target. To see the full list of analyst forecasts on Treasure Global, Inc. stock, see the TGL Stock Forecast page.

Treasure Global Divests Non-Core Platform to Refocus Strategy

Treasure Global, Inc. has entered into a Share Sale Agreement dated December 22, 2025, to divest a non-core food and beverage platform, after which it will no longer own any equity interest in the target or its subsidiary nor manage or operate that business. The transaction, which is not deemed a disposition of a significant amount of assets under applicable regulations, is intended to streamline and simplify the company’s corporate and operating structure and reallocate capital and management attention toward its core, asset-light, and more scalable fintech and digital-asset initiatives, aligning its asset base with its growth, capital markets, and listing objectives and enabling a greater share of resources to be directed to higher-margin digital operations over time.

The most recent analyst rating on (TGL) stock is a Sell with a $9.50 price target. To see the full list of analyst forecasts on Treasure Global, Inc. stock, see the TGL Stock Forecast page.

Treasure Global Names New CFO Amid Leadership Shift

On December 15, 2025, Treasure Global, Inc. announced the resignation of its Chief Financial Officer, Ms. Chan See Wah, effective December 31, 2025, and the promotion of Mr. Pusparajan a/l Vadiveloo as her replacement, effective December 17, 2025. Mr. Pusparajan, who has over 11 years of experience in accounting and finance, brings expertise in IT, telecommunications, and manufacturing, positioning the company to benefit from his leadership. This transition reflects the company’s continuity in operations with no significant changes to compensation terms, ensuring stability for stakeholders and clients alike.

The most recent analyst rating on (TGL) stock is a Sell with a $9.50 price target. To see the full list of analyst forecasts on Treasure Global, Inc. stock, see the TGL Stock Forecast page.

Treasure Global Raises $2.5M in Direct Offering

On December 10, 2025, Treasure Global Inc. announced the pricing of a registered direct offering, raising USD 2,500,000 through the sale of 250,000 shares of common stock. The offering, which closed on December 12, 2025, was conducted under the company’s shelf registration statement and involved D. Boral Capital LLC as the exclusive placement agent. This capital raise is expected to support Treasure Global’s ongoing efforts to expand its digital platforms and enhance its market position in Southeast Asia.

The most recent analyst rating on (TGL) stock is a Sell with a $9.50 price target. To see the full list of analyst forecasts on Treasure Global, Inc. stock, see the TGL Stock Forecast page.

Treasure Global Announces Reverse Stock Split for Nasdaq Compliance

Treasure Global Inc. announced a 1-for-20 reverse stock split of its common stock, effective December 5, 2025, to comply with Nasdaq’s minimum bid price requirement. This move consolidates every 20 shares into one, reducing the total outstanding shares and adjusting equity awards proportionately, while maintaining the same par value and authorized shares. The reverse split aims to stabilize the stock’s trading price and ensure continued Nasdaq listing compliance.

The most recent analyst rating on (TGL) stock is a Hold with a $24.50 price target. To see the full list of analyst forecasts on Treasure Global, Inc. stock, see the TGL Stock Forecast page.

Treasure Global Faces Nasdaq Delisting Notice

On December 2, 2025, Treasure Global Inc. received a delisting notice from Nasdaq due to non-compliance with the minimum bid price requirement and previous reverse stock splits exceeding a 250-for-1 ratio. The company plans to appeal this decision and present a compliance plan to a Nasdaq Hearings Panel, allowing its stock to continue trading on Nasdaq during the appeal process. The delisting notice does not impact the company’s business operations or reporting obligations.

The most recent analyst rating on (TGL) stock is a Sell with a $0.49 price target. To see the full list of analyst forecasts on Treasure Global, Inc. stock, see the TGL Stock Forecast page.

Treasure Global Approves Reverse Stock Split Amendment

On November 24, 2025, Treasure Global Inc. held its virtual 2025 Special Stockholders Meeting, where a quorum was present with 53.47% of the voting shares represented. During the meeting, stockholders approved an amendment to the Company’s Certificate of Incorporation to allow the Board to effect a reverse stock split to maintain compliance with Nasdaq Listing Rule 5550(a)(2), and also approved the potential adjournment of the meeting to solicit additional proxies if necessary.

The most recent analyst rating on (TGL) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Treasure Global, Inc. stock, see the TGL Stock Forecast page.

Treasure Global Announces Intent to Acquire Quarters Elite

On November 18, 2025, Treasure Global Inc. announced its intention to acquire 51% of Quarters Elite Advisory Sdn Bhd by entering into a letter of intent with Tee Chee Siong. The proposed transaction, valued at approximately $1.2 million, is subject to due diligence and the signing of a definitive agreement. While the letter of intent is largely non-binding, it indicates Treasure Global’s strategic move to expand its market presence, though the completion of the transaction remains uncertain.

The most recent analyst rating on (TGL) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Treasure Global, Inc. stock, see the TGL Stock Forecast page.

Treasure Global Inc Enters Lock-Up Agreement for Stability

On November 14, 2025, Treasure Global Inc entered into a Lock-Up Agreement with certain stockholders to support market stability and enhance long-term shareholder value. The agreement restricts stockholders from selling or transferring shares of the company’s common stock for one year, with limited exceptions, aiming to stabilize the stock price and build investor confidence.

The most recent analyst rating on (TGL) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Treasure Global, Inc. stock, see the TGL Stock Forecast page.

Treasure Global Enters $5M Agreement with Myviko Holding

On November 10, 2025, Treasure Global Inc entered into a service agreement with Myviko Holding Sdn Bhd to provide services related to a digital currency wallet and exchange platform. The agreement, valued at $5,000,000, includes a payment of $3,500,000 through cash and company stock, with the stock subject to a six-month restriction period.

The most recent analyst rating on (TGL) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Treasure Global, Inc. stock, see the TGL Stock Forecast page.