High-Frequency Users on ZCITY Surge to 70%, ARPU Grows SevenfoldKUALA LUMPUR, Malaysia, March 26, 2026 (GLOBE NEWSWIRE) -- Treasure Global Inc. (NASDAQ: TGL) (“Treasure Global” or the “Company”), a Southeast Asia–anchored technology company, today announced record engagement and monetization on its ZCITY Super App platform, alongside a strategic redevelopment of its TAZTE platform to strengthen its digital ecosystem. ZCITY Delivers Record Engagement and MonetizationFor the quarter ended December 2025: High- ...

Key Takeaways AT&T built TGL's network from scratch at the SoFi Center for uninterrupted gameplayDedicated Internet, Wi-Fi, and NetBond ensure fast, secure and reliable connectivity.AT&T's Virtual Private Networks and cybersecurity protect operations and enhance communication.AT&T Inc. (T) has partnered with The Golf League (“TGL”), a tech-driven golf league, to bring advanced connectivity to modern sports entertainment. AT&T will provide fast, secure and reliable technology to support gameplay, live broadc ...

Core Insights - Treasure Global Inc. has been recognized for its leadership in fintech innovation and digital platform development, receiving the ASEAN Fintech Icon Award at the 2nd ASEAN Banking & Finance Summit 2026 [1][5] - The summit focused on the evolving role of financial institutions and fintech companies in enhancing economic resilience and advancing financial inclusion across the ASEAN region [2] Company Overview - Treasure Global is a technology solutions provider based in Malaysia, specializing in platforms that drive digital transformation in retail and services [8] - The company's flagship product, the ZCITY Super App, integrates e-payment solutions with customer loyalty rewards, boasting 2.71 million registered users as of December 2025 [8] Strategic Initiatives - The company is expanding its technology ecosystem through platforms like ZCITY, which combines digital payment solutions and customer engagement features [6] - Treasure Global aims to contribute to discussions on stronger digital infrastructure and improved user experiences in the financial and commercial ecosystem [7] Leadership Engagement - CEO Carlson Thow participated in a leadership panel discussing trust, governance, and talent development within financial institutions, highlighting the importance of adapting to technological changes and global economic dynamics [3]

Core Insights - Treasure Global Inc. reported significant financial progress in Q2 FY2026, with revenue reaching USD 1.08 million, up from USD 0.30 million in Q2 FY2025, driven by growth in gift-card transactions on the ZCITY platform [9] - The company experienced a net loss of USD 3.11 million, compared to a loss of USD 0.23 million in the same quarter last year, although this was partially offset by favorable fair-value adjustments [9] - Cash and cash equivalents increased to USD 5.45 million from USD 0.24 million as of June 30, 2025, supported by financing activities [9] Financial Highlights - Revenue for Q2 FY2026 was USD 1.08 million, a significant increase from USD 0.30 million in Q2 FY2025 [9] - Net loss was USD 3.11 million, compared to USD 0.23 million in Q2 FY2025 [9] - Loss per share improved to USD (3.47) from USD (11.32) in Q2 FY2025 [9] - Cash and cash equivalents rose to USD 5.45 million from USD 0.24 million as of June 30, 2025 [9] Management Commentary - The CEO highlighted the company's progress in strengthening its financial position and advancing technology initiatives [3] - Emphasis was placed on enhancing digital commerce capabilities and expanding higher-value opportunities within the ecosystem [3] - The company is focused on sustainable growth and scaling operations across Southeast Asia [3] Operational Updates - Treasure Global is enhancing its digital commerce ecosystem, particularly through the ZCITY platform [4] - The company is improving product development processes and operational efficiency while expanding merchant partnerships [5] - These efforts aim to diversify revenue streams and strengthen the company's position in Southeast Asia's digital economy [5] Business Outlook - The company plans to continue developing the OXI Wallet initiative, which supports its long-term fintech strategy [6] - OXI Wallet is expected to expand digital asset capabilities and create new revenue opportunities [6] - The company remains committed to optimizing its business model and enhancing operational efficiency [7]

User Metrics - As of November 10, 2025, the ZCITY App had 2,708,782 registered users and 2,027 registered merchants[258] - The company reported a total of 21,734 new registered users in the quarter ended December 31, 2024, with active users decreasing to 4,799 by December 31, 2025[282] - As of December 31, 2025, the company recorded 2,709,077 registered users, with a decline in active users averaging 23.9% over the last five quarters[284] Revenue Streams - The company initiated a new revenue stream by offering customized software development services, targeting enterprise clients, with a partnership established in January 2025[264] - The company experienced a 258.1% increase in total revenues, rising to approximately $1.1 million for the three months ended December 31, 2025, compared to approximately $0.3 million for the same period in 2024[289] - Product and loyalty program revenue increased by approximately $0.8 million or 302.0% to approximately $1.1 million for the three months ended December 31, 2025, driven by higher demand for e-voucher products[290] - For the six months ended December 31, 2025, total revenues increased by approximately $754,250 or 148.1% to approximately $1.3 million from approximately $509,269 in the same period of 2024[305] - Product and loyalty program revenue surged by approximately $909,932 or 260.0% to approximately $1.3 million for the six months ended December 31, 2025, driven by higher demand for e-voucher products[306] Revenue Declines - Transaction revenue decreased by 91.0%, falling to approximately $3,000 for the three months ended December 31, 2025, compared to approximately $28,000 for the same period in 2024[292] - Member subscription revenue decreased by 100.0% to $0 for the three months ended December 31, 2025, from approximately $5,000 for the same period in 2024[293] - Transaction revenue decreased by approximately $67,975 or 95.0% to approximately $4,000 for the six months ended December 31, 2025, compared to approximately $72,000 for the same period in 2024[308] - Member subscription revenue dropped by 100.0% to $0 for the six months ended December 31, 2025, from approximately $88,000 in the same period of 2024, due to a slowdown in acquiring new customers[309] Cost and Expenses - Total cost of revenue increased by approximately $1.0 million, or 1,285.7%, for the three months ended December 31, 2025, compared to the same period in 2024[294] - General and administrative expenses increased by approximately $3.0 million or 389.3% for the three months ended December 31, 2025, driven by higher administrative costs and impairment losses[299] - Selling expenses decreased by approximately $15,000 or 37.8% for the three months ended December 31, 2025, primarily due to reduced marketing and promotion expenses[298] - Total cost of revenue increased by approximately $1.1 million or 1,014.8% for the six months ended December 31, 2025, compared to the same period in 2024, primarily due to increased product and loyalty program revenue[311] - General and administrative expenses rose by approximately $3.1 million or 196.3% to approximately $4.6 million for the six months ended December 31, 2025, driven by higher administrative costs and professional service fees[316] - Research and development expenses increased by approximately $720,000 or 899.0% to approximately $800,000 for the six months ended December 31, 2025, reflecting higher spending on A.I. related infrastructure[317] Profit and Loss - Gross profit for the three months ended December 31, 2025, was approximately $1,000, reflecting a decrease of approximately $223,044 or 99.6% compared to approximately $0.2 million for the same period in 2024[295] - Gross profit for the six months ended December 31, 2025, amounted to approximately $2,193, reflecting a decrease of approximately $393,930 or 99.4% from approximately $396,123 in the same period of 2024[312] - Net loss for the six months ended December 31, 2025, was approximately $5.2 million, representing an increase of approximately $4.1 million from a net loss of $1.2 million in the same period of 2024[321] - The company reported a net loss of approximately $5.2 million for the six months ended December 31, 2025[332] Cash and Financing - As of December 31, 2025, the company had approximately $5.5 million in cash and cash equivalents, a significant increase from approximately $0.2 million as of June 30, 2025[324] - The company issued 17,242 shares of common stock for a total cash consideration of $400,000 as of December 31, 2025[328] - A registered direct offering resulted in net proceeds of $2,160,000 after deducting offering-related costs of $340,000[329] - Net cash used in operating activities for the six months ended December 31, 2025 was approximately $4.7 million, compared to $1.6 million for the same period in 2024[331][333] - The company recorded a net cash provided by financing activities of approximately $10.96 million for the six months ended December 31, 2025, compared to $3.94 million in 2024[331][336] Impairments and Allowances - As of December 31, 2025, the company recorded an impairment for long-lived assets of $22,562,180[344] - The company has provided an allowance for credit loss of $2,423,937 for other receivables as of December 31, 2025[343] - The company recorded an unrealized holding loss on marketable securities of $0 for the six months ended December 31, 2025, compared to an unrealized holding gain of approximately $0.3 million in 2024[345] Going Concern - The company has substantial doubt about its ability to continue as a going concern due to recurring losses and insufficient funds to meet working capital requirements[330] - The company is exploring equity financing to support working capital needs, but there is no guarantee that this will alleviate the going concern risk[330] Stock-Based Compensation - Stock-based compensation for the six months ended December 31, 2025, amounted to approximately $0.5 million, compared to $0.1 million for the same period in 2024[351] - The fair value of stock-based compensation is recognized over the requisite service period, with performance-based compensation for subsequent years[351] Internal Controls - Management identified material weaknesses in internal control over financial reporting, including inadequate U.S. GAAP expertise and lack of a functional internal audit department[360] - Plans to address identified weaknesses include hiring qualified accounting personnel and implementing regular U.S. GAAP training programs[360] - The company has not identified any changes in internal control over financial reporting that materially affected its internal control during the quarter ended December 31, 2025[359] - Disclosure controls and procedures were deemed ineffective as of December 31, 2025, due to material weaknesses[357] Corporate Governance - The company plans to strengthen corporate governance as part of its remedial measures[360]

Core Insights - Treasure Global Inc. has concluded its equity line facility with Alumni Capital LP, resulting in no further dilution for the company [1][3] - The equity line facility, established under a Purchase Agreement, provided discretionary access to equity financing until December 31, 2025 [2] - The completion of the facility allows the company to focus on scaling its OXI Wallet and advancing its UNIRWA real-world-asset initiatives without additional financial obligations [4] Company Overview - Treasure Global is a technology solutions provider based in Malaysia, specializing in platforms that drive digital transformation in retail and services [5] - The company's flagship product, the ZCITY Super App, integrates e-payment solutions with customer loyalty rewards, boasting over 2.7 million registered users as of June 2025 [5] - The company leverages advanced technologies such as artificial intelligence and data analytics to enhance its capabilities across e-commerce and fintech sectors [5]

Core Insights - Treasure Global Inc. has regained compliance with Nasdaq's minimum bid price requirement, allowing its common stock to continue being listed and actively traded on the Nasdaq Stock Market without interruption [1][2][3] Company Overview - Treasure Global is a Malaysia-based technology solutions provider focused on digital transformation in retail and services, with its flagship product being the ZCITY Super App, which integrates e-payment solutions and customer loyalty rewards [3] - As of June 2025, ZCITY has attracted over 2.7 million registered users, establishing Treasure Global as a significant player in Malaysia's digital economy [3] Strategic Positioning - The CEO of Treasure Global expressed satisfaction with the company's compliance status, indicating that the resolution of the listing matter positions the company to execute its strategic plans and focus on long-term shareholder value [3]

Core Viewpoint - Treasure Global Inc. has successfully closed a registered direct offering, raising a total of USD 2,500,000 through the sale of 250,000 shares of its common stock [1]. Group 1: Offering Details - The offering was facilitated by D. Boral Capital LLC, which acted as the exclusive placement agent [2]. - The offering was conducted under the Company's shelf Registration Statement on Form S-3, which was declared effective on March 29, 2024 [3]. Group 2: Company Overview - Treasure Global is a technology solutions provider based in Malaysia, focusing on digital transformation in retail and services [5]. - The flagship product, ZCITY Super App, integrates e-payment solutions with customer loyalty rewards, boasting over 2.7 million registered users as of June 2025 [5]. - The company utilizes advanced technologies such as artificial intelligence and data analytics to enhance its platform across various sectors, including e-commerce and fintech [5].

Core Insights - Treasure Global Inc. has successfully closed a registered direct offering, raising a total of USD 2,500,000 through the sale of 250,000 shares of common stock [1][2]. Company Overview - Treasure Global is a technology solutions provider based in Malaysia, focusing on digital transformation in retail and services [5]. - The company's flagship product, the ZCITY Super App, integrates e-payment solutions with customer loyalty rewards, enhancing the online-to-offline user experience [5]. - As of June 2025, ZCITY has over 2.7 million registered users, establishing Treasure Global as a significant player in Malaysia's digital economy [5]. - The company utilizes advanced technologies such as artificial intelligence and data analytics to improve its platform across various sectors, including e-commerce and fintech [5]. Offering Details - The offering was conducted under the Company's shelf Registration Statement on Form S-3, which was filed with the U.S. Securities and Exchange Commission and became effective on March 29, 2024 [3]. - D. Boral Capital LLC served as the exclusive placement agent for this offering [2].

Core Insights - Treasure Global Inc. has accelerated the launch of its OXI wallet, originally scheduled for 1H 2026, and has secured its first corporate client, Legacy Trustee Berhad, which purchased 1,000 Visa cards, generating USD 120,000 in confirmed revenue [1][5] - The OXI wallet aims to onboard 100,000 users by the end of the first year, potentially generating over USD 100 million in total revenue, indicating a 100x growth potential [2][4] - The company has entered into heads of terms for acquiring a 51% equity interest in Quarters Elite Advisory Sdn. Bhd., which manages approximately USD 150 million in client assets, enhancing its distribution capabilities [3][5] Company Strategy - The early launch of OXI wallet and the acquisition of Quarters Elite are part of the company's growth strategy to improve market penetration and accelerate corporate client onboarding [3][5] - OXI wallet supports major blockchain networks and adheres to international KYC and AML standards, featuring an AI-powered portfolio assistant for personalized insights [5][6] - The company expects OXI wallet to contribute significantly to its long-term digital asset strategy, including opportunities in payments, asset tokenization, and broader blockchain-enabled financial services [6] Market Position - Treasure Global is positioned as a key player in Malaysia's digital economy, with its flagship product, the ZCITY Super App, attracting over 2.7 million registered users as of June 2025 [7] - The combination of Legacy Trustee Berhad's reach and Quarters Elite's advisor network is expected to enhance the onboarding of OXI wallet users and generate substantial revenue [4][5]