Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 104

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 104
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 copies were sold for year ended March 31, 2025, compared
to approximately 3.8 million and 1.6 million digital copies sold for the same period in 2024 and 2023, respectively, representing an increase
of 22.9% and 129.9% for the year ended March 31, 2025, and 2024, respectively. Meanwhile, the number of physical copies sold increased
by 48.5% and 22.7% for the year ended March 31, 2025, and 2024, respectively. These changes highlight our effective adaptation to consumer
preferences for digital formats, reflecting broader industry trends towards convenient, direct access to gaming content and an increasing
environmental consciousness. Our strategic focus on enhancing digital distribution channels has successfully positioned us well for sustained
growth in the digital marketplace.

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Results of Operations

Comparison of the Years Ended March 31, 2025 and 2024

|                               |     | For the Years Ended March 31, |        2025 |     |   |       2024 |   |     |   |      Change |   |     |     | Percentage 
     Change |    |
|:------------------------------|:----|:------------------------------|------------:|:----|:--|-----------:|:--|:----|:--|------------:|:--|:----|:----|-----------:|:---|
| Revenues                      |     | $                             | 142,072,586 |     | $ | 97,534,701 |   |     | $ |  44,537,885 |   |     |     |       45.7 | %  |
| Cost of revenues              |     |                               | 120,829,225 |     |   | 84,216,243 |   |     |   | (36,612,982 | ) |     |     |       43.5 | %  |
| Gross profit                  |     |                               |  21,243,361 |     |   | 13,318,458 |   |     |   |   7,924,903 |   |     |     |       59.5 | %  |
| Selling and marketing         |     |                               |   2,568,702 |     |   |  2,602,892 |   |     |