Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 98

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4A
Chunk 98
---
 revenues from our revenue categories are
summarized as follows:

                                  For the Years Ended March 31,                                                                                    
                                  2025                                                                                                             
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Console game                    $                                  123,263,543       86.8      91,018,804       93.3      32,244,739       35.4  
  Game publishing                                                     16,029,523       11.2       3,431,680        3.5      12,597,843      367.1  
  Media advertising services                                           2,238,364        1.6       2,716,089        2.8        (477,725      (17.6  
  Others                                                                 541,156        0.4         368,128        0.4         173,028       47.0  
  Total revenues                  $                                  142,072,586      100.0      97,534,701      100.0      44,537,885       45.7  

Our revenues are mainly derived
from sale of console games, game publishing, and media advertising service. The total revenue increased by approximately $44.5 million,
or 45.7%, to approximately $142.1 million for the year ended March 31, 2025 from approximately $97.5 million for the same period in 2024.
The increase was mainly attributed to the following:

Sale of Console Game

Our revenue from sale of
console games increased by approximately $32.2 million, or 35.4%, to approximately $123.3 million for the year ended March 31, 2025 from
approximately $91.0 million for the year ended March 31, 2024. The increase was primarily attributable to increase in revenue from sales
of console game codes of approximately $34.6 million, representing an 65.8% increase in revenue from sales of console game codes. The
reason for the increase in revenue from sales of console game codes was that we experienced higher demand for game downloads from online
stores, allowing us to sell 4,656,893 copies of game codes for the year ended March 31, 2025, compared to 3,787,922 copies for the same
period in 2024. The increase