Company: GCL
Filing Date: 2025-09-04
Form Type: F-1
Source: 0001213900-25-084489
Chunk: 131

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-04
Form: F-1
Chunk 131
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 in other income, net, which was primarily due to the decrease of marketing revenue recognized from our vendor who compensated our marketing expense incurred from prior period, approximately $1.8 million increase in interest expense due to increased debt financing in current period and approximately $1.6 million of finance cost related to debt issuance cost from issuance of the convertible notes, and approximately $0.3 million increase in loss from change in fair value of consideration payable related to 2Game acquisition from prior period. 82 Income taxes expense Our income tax expense increased by approximately $1.1 million, or 2017.9%, to approximately $1.1 million for the year ended March 31, 2025, compared to approximately $53,000 for the same period in 2024. This increase was primarily attributable to (i) an increase of approximately $0.6 million in current income tax expense resulting from higher taxable income in the current period, and (ii) a decrease of approximately $0.4 million in deferred income tax benefit due to the utilization of previously recognized deferred tax assets against current taxable income. Net Income (Loss) We incurred a net income of approximately $5.0 million for 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 |   |     | $ |