Raynauld Liang, Society Pass Inc Chief Executive Officer, explains, “Our compelling revenue growth and dramatic profit margin expansion, as evidenced in the Company’s 9 months 2023 financial performance, substantiate our acquisitions-focused business plan to build the next generation digital ecosystem and fintech loyalty platform here in SEA. Despite 9 months 2023 revenues growing 117% year-on-year in the five largest economies of SEA, our 9 months 2023 cash operating expenses DECLINED by 32.6%. Just as importantly, our profit margins are materially improving on a year-to-year basis. We realized 28.1% gross profit margin in 9 months 2023, markedly improving from 9.8% in 9 months 2022.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SOPA:
- Society Pass Inc’s (Nasdaq: SOPA) 9 Mths 2023 Financials : Revenues Increased 117% yoy; Gross Profit Margin Improved to 28.1%; Cash Operating Expenses Declined 32.6% yoy
- Society Pass applies to extend an additional 180 days to meet minimum bid price
- Society Pass Inc (Nasdaq: SOPA) Applies to Extend An Additional 180 Days to Meet the $1.00 Minimum Bid Price Requirement
- Society Pass Inc (Nasdaq: SOPA) / NusaTrip Inc Expands Geographic Coverage Through Strategic Partnership with China-based Guangzhou Junwei International Travel Service Co. Ltd to Enhance Travel Experience for Customers in Southeast Asia and China
- Society Pass’ NusaTrip expands coverage through partnership with Jun Wei