Treasure Global Inc. (TGL) Stock

Treasure Global Inc. (TGL) is a Technology stock trading at $2.25 (as of 2026-08-21), with a market capitalization of $3.77M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Treasure Global Inc. operates a Malaysian e-commerce platform that enables subscribers to find and engage with local merchants through activities, travel-related offerings, goods, services, and rewards. It also provides z-city, a profit-sharing promotion platform where business owners market products and connect with others to earn profits and rewards.

Understand Treasure Global Inc.: how it makes money

Treasure Global Inc. builds an e-commerce platform in Malaysia (including z-city) that helps subscribers discover and connect with local merchants through offers, activities, travel, goods, services, and rewards, and it monetizes through a cross profit-sharing setup where business owners promote products and participate in the profits and rewards.

The business profit model is a marketplace engine, where engagement (active users) must convert into transactions, which then drives value to merchants that participate through z-city’s cross profit-sharing structure.

Business quality (Weak): The latest provided quarter shows very weak profitability (gross margin 0.4%, operating margin -278.9%) along with operational engagement metrics (for example, Monthly Active Users and Active User Retention Rate). The core investor question is whether strong engagement can continue to translate into profitable monetization.

Bull case

  • Retention looks strong: Active User Retention Rate is 98.1%, suggesting users keep coming back to the platform.
  • Engaged users convert at a meaningful rate: Conversion Rate from Active Users is 22.0%, and Users Transacting Three Times or More is 46.7%, indicating repeat activity among users.

Bear case

  • Monetization may be inefficient: Conversion Rate from Paid Users is 6.0%, and the latest gross margin is 0.4% with an operating margin of -278.9%.
  • Profitability is currently heavily negative: The latest provided operating margin of -278.9% indicates substantial losses, and the latest provided revenue figure is shown as 0.0B.
Valuation — source: SEC EDGAR (first-party)
Price$2.25
Market Cap$3.77M
Price / Book0.24
Price / Sales1.10
FCF Yield-535.0%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$2.33M
Net Margin-1003.1%
Revenue Growth (YoY)125.2%
EPS Growth (YoY)-227.5%
FCF Growth (YoY)7.1%
Financial Health — source: SEC EDGAR
Altman Z-Score-7.59 (distress)
Valuation vs Sector & Industry
Sector P/E (Technology)33.9
Industry P/E (Business Services)29.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderJANE STREET GROUP, LLC ($175434.00)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryBusiness Services
CEOCarlson Thow
Employees25
CountryUS
IPO Date2022-08-11

Related Companies (Business model: IT Services / Consulting and Managed Services; 8 closest by market cap; US-domiciled)

  • Bridger Aerospace Group Holdings, Inc. Common Stock (BAER)
  • Heritage Global Inc. (HGBL)
  • XBP Global Holdings, Inc. (XBP)
  • TEN Holdings, Inc. Common Stock (XHLD)
  • Future FinTech Group Inc. (FTFT)
  • CALLAN JMB INC. (CJMB)
  • SPAR Group, Inc. (SGRP)
  • Smart Powerr Corp. (CREG)
TGL earnings history · TGL institutional & insider holders · TGL KPIs & operating metrics · TGL financials · TGL investor presentations & press releases · TGL SEC filings · TGL peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.