Core Insights - NusaTrip has entered into an exclusive strategic technology partnership with Gorilla Networks to enhance its eSIM connectivity offerings within the travel sector [1][2][3] Group 1: Partnership Details - Gorilla will serve as NusaTrip's exclusive global eSIM connectivity platform, facilitating the development and operation of NusaTrip's white-label eSIM products [2][3] - The partnership aims to position eSIM connectivity as a core, monetizable layer within the travel booking experience, enhancing customer experience and creating new revenue streams [3] Group 2: Market Potential - The global travel eSIM market is projected to grow from US$1.8 billion in 2025 to US$8.7 billion by 2030, indicating a 380% revenue growth driven by increasing consumer and business travel [2] - Factors contributing to this growth include decreasing costs, improved device compatibility, and ongoing product innovation [2] Group 3: NusaTrip Overview - NusaTrip is an integrated travel technology platform with over 500 airlines and 650,000 hotels globally, and it is the first Indonesian OTA to receive IATA accreditation [9] - The company focuses on acquiring offline travel agencies to enhance its growth strategy and expand its market presence in Southeast Asia and the Asia-Pacific region [10] Group 4: Gorilla Networks Overview - Gorilla Networks specializes in providing eSIM solutions and aims to simplify connectivity for travelers by eliminating the complexities associated with traditional SIM cards [11]

Core Insights - NusaTrip has formed a strategic partnership with Gother, enhancing its position as a leading flight content supplier in Southeast Asia's travel market [1][5] - The global Thailand tourism market is projected to grow from USD 61.4 billion in 2024 to USD 84.1 billion by 2034, at a CAGR of 3.2% [2] - NusaTrip collaborates with airlines to provide comprehensive flight content, real-time availability, and dynamic pricing, improving customer offerings for Gother [3][4] Company Overview - Society Pass Incorporated operates as an acquisition-focused holding company in Southeast Asia, with interconnected verticals in digital media, travel, lifestyle, and alternative intelligence [5][8] - NusaTrip, established in 2015, is an integrated travel technology platform with over 500 airlines and 650,000 hotels, and is the first Indonesian OTA to receive IATA accreditation [7][9] - The company aims to expand its footprint in the travel market through strategic acquisitions of travel agencies across Southeast Asia and the Asia-Pacific region [8]

Core Viewpoint - Society Pass Incorporated has made a US$1.8 million minority investment in Gorilla Networks, marking its entry into the rapidly growing eSIM market, which is projected to grow from US$11.2 billion in 2025 to US$25.0 billion by 2033 at a CAGR of 10.5% [1][2]. Company Overview - Society Pass is an acquisition-focused holding company founded in 2018, operating in the fast-growing markets of Southeast Asia, including Vietnam, Indonesia, Philippines, Singapore, and Thailand [6]. - The company operates four interconnected verticals: digital media, travel, lifestyle, and alternative intelligence [6]. Investment Details - The investment in Gorilla Networks establishes a strategic extension of Society Pass's travel and online travel agency (OTA) strategy, allowing for the embedding of mobile connectivity into the travel purchase journey [2][5]. - Gorilla's platform provides API-driven, white-label eSIM infrastructure, enabling travel platforms to bundle connectivity with flights, hotels, and ancillary services at the moment of booking [3]. Market Dynamics - The global eSIM ecosystem is highly fragmented, with many small operators lacking distribution scale and integration capabilities. Gorilla aims to aggregate demand through large digital partners and pursue selective consolidation opportunities [4]. - Society Pass plans to integrate Gorilla's eSIM services across its travel vertical, starting with NusaTrip, to enhance customer experience and generate recurring revenue with minimal incremental cost [5]. Strategic Vision - The integration of eSIM services is seen as a logical extension of Society Pass's OTA and travel strategy, internalizing a critical travel service that is digital and globally scalable [5]. - Gorilla is positioned to evolve from an infrastructure provider into a regional connectivity platform, unlocking scale, data, and recurring demand through partnerships [4].

Core Viewpoint - Society Pass Incorporated (SOPA) is undergoing a strategic transformation from a consumer e-commerce model to a platform holding company focused on scalable, cash-generative businesses and AI infrastructure optionality, as highlighted by Litchfield Hills Research [2][3]. Valuation Analysis - Litchfield Hills Research identifies a significant sum-of-the-parts valuation disconnect, with SOPA's market capitalization of $18.0 million reflecting a substantial discount to its operating assets and cash, valued at approximately 1,300% of the parent company [2]. Strategic Transformation - The company is shifting its focus towards higher-margin, infrastructure-oriented assets due to increasing competition and margin pressure in consumer e-commerce, alongside a growing global demand for AI inference capacity [3]. Revenue Growth - SOPA's consolidated sales are projected to increase from $7.0 million in 2025 to $10 million by 2027, driven by its subsidiaries Thoughtful Media and NusaTrip [4]. Thoughtful Media Insights - Thoughtful Media is transitioning to premium advertising and social commerce, with a forecasted revenue CAGR of 17% through 2027, positioning it as a key asset in SOPA's new model [5]. Thoughtful Media IPO - Thoughtful Media filed for an IPO in August 2024, proposing a price range of $4.00–$5.00 per share for 3.75 million shares, which could imply a pro forma equity valuation of approximately $86 million to $107 million, significantly enhancing SOPA's valuation [6]. NusaTrip Overview - NusaTrip, a majority-owned subsidiary, is pivoting to the higher-margin hotel sector and accounted for about 55% of SOPA's consolidated revenue in the last reported quarter, processing approximately $250 million GMV in 2025 [7]. AI Infrastructure Investments - The company is making minority, non-consolidated investments in AI infrastructure in Central & Eastern Europe, which offer high-margin optionality despite limited near-term financial visibility [8]. Company Background - Society Pass was founded in 2018 and operates in Southeast Asia across four interconnected verticals: digital media, travel, lifestyle, and alternative intelligence infrastructure [9].

Core Insights - The global artificial intelligence market is projected to grow from US$371 billion in 2025 to US$2.4 trillion by 2032, with a CAGR of 30.6% from 2025 to 2032 [1] - Society Pass Incorporated has made a US$8.8 million minority investment in Sapience AI, an emerging AI data center startup, to access the growing AI data center market in Southeast Asia [1] Company Overview - Society Pass Incorporated, founded in 2018, operates in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore, and Thailand, focusing on an e-commerce ecosystem [4] - The company is an acquisition-focused holding entity with four interconnected verticals: digital media, travel, lifestyle, and alternative intelligence [4] Sapience AI Partnership - Sapience AI collaborates with Taiwan-based semiconductor suppliers to build a next-generation GPU cloud, initially launching as a GPU-as-a-Service provider [2] - The company aims to serve the rapidly growing European market by deploying state-of-the-art Nvidia hardware in high-performance data centers [2][3] - The long-term vision of Sapience AI includes transitioning to owning and constructing purpose-built data centers across Europe, enhancing performance and operational expertise [3] Market Strategy - Sapience AI's strategy focuses on capturing demand from European AI innovators while building customer relationships and operational expertise [3] - The company emphasizes ultra-low latency infrastructure to support high-throughput operations for intensive workloads [3] - The SailFlow platform is designed to streamline provisioning and management for machine learning engineers, reducing setup time and complexity [3]

Core Viewpoint - NusaTrip Incorporated has received consent from its IPO underwriter, Cathay Securities, to grant an early release to Society Pass Incorporated from its securities lock-up agreement related to NusaTrip's initial public offering, which took place in August 2025 [1][2]. Company Overview - NusaTrip Incorporated, established in 2015 and headquartered in Jakarta, Indonesia, operates as a travel ecosystem focused on Southeast Asia (SEA) and Asia-Pacific (APAC) [3]. - The company employs an acquisitions-focused growth strategy, emphasizing mergers and acquisitions of offline travel agencies to enhance its business operations [3]. - NusaTrip has successfully acquired travel companies such as VLeisure and VIT in Vietnam and is actively seeking to acquire additional travel agencies in various countries including PRC, Hong Kong, Philippines, Thailand, Singapore, Malaysia, India, and UAE [3]. Industry Position - NusaTrip is recognized as the first Indonesian-based online travel agent (OTA) to receive International Air Transport Association (IATA) accreditation, which provides access to all airline fares and inventories [4]. - This accreditation allows NusaTrip to offer competitive pricing from both full-service and low-cost carriers, enhancing its market position in the travel industry [4].

Core Viewpoint - NusaTrip has formed a strategic partnership with Bookcabin to enhance travel distribution in Southeast Asia, providing regional travelers with more accommodation choices and better rates while expanding hotel partners' reach [2][3]. Group 1: Partnership Details - The partnership aims to integrate NusaTrip's extensive hotel and travel inventory onto Bookcabin's platform, creating new opportunities for hotels and travelers [2]. - This collaboration aligns with the long-term vision of building a connected travel ecosystem in Southeast Asia through technology-driven distribution [2]. Group 2: Market Potential - Indonesia's travel market is projected to reach a size of US$115 billion (or IDR 1,828 trillion) by 2034, driven by increased cross-border trips and improved air connectivity [3]. - The partnership is expected to support this growth by providing reliable and efficient distribution solutions [3]. Group 3: Company Background - Society Pass Incorporated, founded in 2018, operates in fast-growing Southeast Asian markets and focuses on e-commerce, travel, and lifestyle sectors [6]. - NusaTrip, established in 2015, is an integrated travel technology platform with over 500 airlines and 650,000 hotels on its marketing platform [8].

Group 1: Fintech Stocks Overview - Five fintech stocks to watch include Rocket Companies, UP Fintech, Joint Stock Company Kaspi.kz, DeFi Development, and Society Pass, identified by MarketBeat's stock screener tool [2] - Fintech stocks represent companies that utilize technology to provide financial services, such as payment processing, digital banking, and online lending, offering exposure to innovation-driven growth in finance [2] Group 2: Rocket Companies (RKT) - Rocket Companies, Inc. is a fintech holding company that provides mortgage lending, title and settlement services, and other financial technology services in the U.S. and Canada [3] - The company operates through two segments: Direct to Consumer and Partner Network, with solutions including Rocket Mortgage, Amrock, Rocket Homes, and Rocket Loans [3] Group 3: UP Fintech (TIGR) - UP Fintech Holding Limited focuses on providing online brokerage services primarily for Chinese investors, offering a platform for trading stocks, options, and other financial instruments [4] - The company also provides value-added services such as investor education and community engagement [4] Group 4: Joint Stock Company Kaspi.kz (KSPI) - Joint Stock Company Kaspi.kz offers payments, marketplace, and fintech solutions in Kazakhstan, operating through three segments: Payments Platform, Marketplace Platform, and Fintech Platform [5] - The Payments Platform facilitates transactions between customers and merchants [5] Group 5: DeFi Development (DFDV) - DeFi Development is a B2B fintech marketplace that connects commercial property borrowers and lenders, aiming to enhance efficiency and transparency in the commercial real estate lending market [6] - The platform provides technology to assist borrowers in refinancing, building, or purchasing commercial properties [6] Group 6: Society Pass (SOPA) - Society Pass Incorporated operates fintech and e-commerce platforms across multiple countries, including Singapore, Vietnam, and the U.S., focusing on various segments such as online grocery delivery and digital marketing [7][8] - The company aims to serve both consumers and merchants through its diverse range of services [8]

Core Viewpoint - Premarket trading is showing significant activity with notable price movements indicating potential investment opportunities before the market opens [1] Premarket Gainers - Ventyx Biosciences, Inc. (VTYX) increased by 57% to $15.79 [3] - Cardio Diagnostics Holdings, Inc. (CDIO) rose by 36% to $4.02 [3] - Monte Rosa Therapeutics, Inc. (GLUE) saw a 28% increase to $20.54 [3] - Momentus Inc. (MNTS) gained 27% reaching $12.50 [3] - BioAge Labs, Inc. (BIOA) went up by 13% to $17.50 [3] - Neumora Therapeutics, Inc. (NMRA) increased by 11% to $2.03 [3] - Mobileye Global Inc. (MBLY) rose by 10% to $13.45 [3] - Society Pass Incorporated (SOPA) increased by 10% to $3.47 [3] - SU Group Holdings Limited (SUGP) saw an 8% rise to $6.32 [3] - Critical Metals Corp. (CRML) gained 7% reaching $12.73 [3] Premarket Losers - Evolution Metals & Technologies Corp. (EMAT) decreased by 28% to $15.20 [4] - Ascent Solar Technologies, Inc. (ASTI) fell by 12% to $4.65 [4] - Apogee Enterprises, Inc. (APOG) saw a 10% decline to $33.30 [4] - Next Technology Holding Inc. (NXTT) dropped by 8% to $8.49 [4] - AST SpaceMobile, Inc. (ASTS) decreased by 7% to $90.45 [4] - Nomadar Corp. (NOMA) fell by 7% to $3.66 [4] - EZGO Technologies Ltd. (EZGO) decreased by 7% to $1.99 [4] - Cohen & Company Inc. (COHN) saw a 6% decline to $28.30 [4] - PMGC Holdings Inc. (ELAB) dropped by 4% to $5.34 [4] - Anghami Inc. (ANGH) decreased by 3% to $4.49 [4]

Core Viewpoint - Society Pass Incorporated has successfully closed a public offering of 1,500,000 shares at a price of $2.00 per share, raising gross proceeds of $3 million, which will be used for working capital and general corporate purposes [1][2]. Group 1: Offering Details - The public offering consisted of 1,500,000 shares priced at $2.00 each, resulting in total gross proceeds of $3 million before expenses [1]. - Rodman & Renshaw LLC served as the exclusive placement agent for the offering [2]. - The offering was conducted under a registration statement on Form S-1, which was declared effective by the SEC on December 29, 2025 [3]. Group 2: Company Overview - Society Pass was founded in 2018 and operates in the fast-growing e-commerce markets of Southeast Asia, including Vietnam, Indonesia, Philippines, Singapore, and Thailand, which collectively represent over 80% of the region's population [5]. - The company operates three interconnected verticals: digital media, travel, and lifestyle, leveraging technology to enhance customer experiences [5]. - Society Pass began trading on Nasdaq under the ticker SOPA in November 2021 [6].