Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 112

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 112
---
 the year ended March 31, 2025, while we have a net loss of approximately $2.0 million for the same period
in 2024, representing a change of approximately $7.0 million, or 357.5%. Such change mainly was a direct outcome of the reasons discussed
above.

Results of Operations

Comparison of The Years Ended March 31, 2024 and 2023

|                               |     | For the Years Ended March 31, |       2024 |   |     |   |       2023 |   |     |   |     Change |   |     |     | Percentage 
     Change |    |
|:------------------------------|:----|:------------------------------|-----------:|:--|:----|:--|-----------:|:--|:----|:--|-----------:|:--|:----|:----|-----------:|:---|
| Revenues                      |     | $                             | 97,534,701 |   |     | $ | 77,444,155 |   |     | $ | 20,090,546 |   |     |     |       25.9 | %  |
| Cost of revenues              |     | $                             | 84,216,243 |   |     | $ | 63,598,608 |   |     | $ | 20,617,635 |   |     |     |       32.4 | %  |
| Gross profit                  |     | $                             | 13,318,458 |   |     | $ | 13,845,547 |   |     | $ |   (527,089 | ) |     |     |       (3.8 | )% |
| Selling and marketing         |     | $                             |  2,602,892 |   |     | $ |  2,689,213 |   |     | $ |    (86,321 | ) |     |     |       (3.2 | )% |
| General and administrative    |     | $                             | 13,109,638 |   |     | $ |  7,555,613 |   |     | $ |  5,554,025 |   |     |     |       73.5 | %  |
| (Loss) income from operations |     | $                             | (2,394,072 | ) |     | $ |