Treasure Global

TGL

Software - Application · Technology

Price

$3.08

+0.30 (+10.77%)

Market Cap

$5.2M

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 9, 2026 · filings through Mar 31, 2026

Share count rising — dilution

+38967.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 3K (2021) → 1.2M (2025)

Treasure Global Inc. is a small technology company based in Malaysia that provides digital commerce and software solutions. Its core products include a mobile app platform that connects merchants with consumers, helping small businesses manage sales, loyalty programs, and payments. The company primarily serves retail merchants and everyday shoppers in Southeast Asia.

Treasure Global earns revenue by charging merchants fees to use its platform and software services. It operates mainly in Malaysia and is a very small company, with a market cap near zero, meaning it is considered a micro-cap or nano-cap stock. The company has no meaningful competitive moat at this stage — its operating margin of nearly negative 800% shows it spends far more than it earns, which is a serious financial risk. The biggest challenge facing Treasure Global is achieving enough merchant and user adoption to generate sustainable revenue before it runs out of funding.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+125.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-227.6% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$215,900/ year

↓ Declining (-58% vs prior year)

9.3% of revenue

Below sector average (15%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

6.8%ownership

Insiders own a meaningful stake in the company

Cash Runway

~17 months

$3M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

Treasure Global grew revenue 125% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

0.4%

Thin — 0.4% gross margin

Operating Margin

-278.9%

Losing money on operations — -278.9%

ROCE

-26.7%

Weak — -26.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+166.8%

Fast-growing sales (+166.8% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-257.9%

Burning cash (-257.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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