Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 133

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 133
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3. Atomic Heartgenerated approximately $6.1 million in game publishing revenue during the year ended March 31, 2023, compared to approximately $3.3 million for the same period in 2024, as sales typically peak shortly after a game’s release due to initial excitement and high demand, then decline over time as the market becomes saturated and player interest wanes. Media advertising Service Revenue from media advertising services consisted of video marketing campaign service and social media advertising service. Our revenue from advertising services decreased approximately $0.6 million, or 16.8 %, to approximately $2.7 million for the year ended March 31, 2024 from approximately $3.3 million for the same period of 2023. The decrease was driven partially by a decrease in revenue from social media advertising service for approximately $0.2 million due to reduced earnings from our YouTube channel, which is highly dependent on video views. It was also caused by a decreased revenue from video marketing campaign services of approximately $0.4 million due to fewer service contracts entered when compared to the same period in 2023. Other revenue Other revenue comprised sales of fashion jewelry through our online e-commerce platform. For the year ended March 31, 2024, this revenue amounted to approximately $0.4 million. Going forward into 2025 and beyond, we anticipate that this source of revenue will continue to remain insignificant to our overall operations. Cost of Revenues Our cost of revenues from our revenue categories are summarized as follows:

|                        |     | For the Years Ended March 31, |       2024 |     |     |     % |   |     |   |       2023 |     |     |     % |   |     | Change |        USD |   |     | Change |     % |    |
|:-----------------------|:----|:------------------------------|-----------:|:----|:----|------:|:--|:----|:--|-----------:|:----|:----|------:|:--|:----|:-------|-----------:|:--|:----|:-------|------:|:---|
| Console game           |     | $                             | 80,340,157 |     |     |  95.4 | % |     | $ | 58,005,203 |     |     |  91.2 | % |     | $      | 22,334,954 |   |     |