GlobalTech Corporation Announces First Quarter 2025 Results

Core Viewpoint - GlobalTech Corporation reported significant growth in its broadband services and overall financial performance for Q1 2025, highlighting a strategic focus on expanding its telecommunications services in Pakistan [1][4]. Recent Corporate Highlights - The company entered into an acquisition agreement with Crickslab to acquire a core engine with complete source code for the development of a baseball league management system [2]. Q1 Financial Highlights - Net revenue increased to $4.3 million, representing a 17.3% growth compared to Q1 2024 [7]. - Telecom service revenue rose by 4.9% year-over-year [7]. - Broadband services revenue surged by 195.6%, now accounting for 16% of gross revenue, up from 6.3% in Q1 2024 [4][7]. - Operating loss improved to $(0.9) million from $(1.2) million in the previous year [7]. - Operating margins improved to negative 21.7%, a 930 basis point increase from negative 31% in the year-ago period [4][7]. - Net loss decreased to $1.1 million in 2025, down from $1.4 million in the prior year [7]. - Total cash and cash equivalents stood at $3.0 million as of March 31, 2025, including $2.7 million in restricted cash [7]. Company Overview - GlobalTech Corporation is a technology investment holding company based in the USA, focusing on providing growth capital and technological innovation in sectors such as AI, Big Data, and telecommunications [6]. - The company holds approximately 55% of Worldcall Telecom Limited, a telecom and media operator in Pakistan, which has extensive deployments in broadband and metro fiber optic networks [5].