Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 97

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4A
Chunk 97
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 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.

Results of Operations

Comparison of the Years Ended March 31, 2025
and 2024

                                     For the Years Ended March 31,                                                                                      
                                     2025                                                2024                      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                      (34,190        (1.3  
  General and administrative                                             15,438,447                13,109,638                    2,328,809        17.8  
  Income (loss) from operations                                           3,236,212                (2,394,072                    5,630,284      (235.2  
  Other income, net                                                       2,941,881                   486,407                    2,455,474       504.8  
  Income tax expense                                                      1,128,672                    53,291                    1,075,381      2017.9  
  Net income (loss)                  $                                    5,049,421      $         (1,960,956      $             7,010,377      (357.5  

Revenues

Our