Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 127

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 127
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 we use the following non-GAAP financial measures
for our consolidated results: EBITDA which represents net income (loss) before interest expense, provision for income taxes, depreciation
and amortization expenses. We believe that EBITDA helps understand and evaluate our core operating performance.

EBITDA does not represent
net income, as that term is defined under GAAP, and should not be considered as an alternative to net income (loss) as an indicator of
our operating performance. Additionally, EBITDA is not intended to be measures of free cash flow available for management or discretionary
use as such measures do not consider certain cash requirements such as capital expenditures, tax payments and debt service requirements.
In light of the foregoing limitations, you should not consider EBITDA as substitutes for, or superior to, net income (loss) prepared in
accordance with U.S. GAAP. We encourage our shareholders and investors and others to review its financial information in its entirety
and not rely on any single financial measure.

EBITDA is presented to enhance investors’
overall understanding of our financial performance and should not be considered a substitute for, or superior to, the financial information
prepared and presented in accordance with U.S. GAAP. Investors are encouraged to review the reconciliation of the historical non-GAAP
financial measures to their most directly comparable GAAP financial measures. As EBITDA has material limitations as analytical metrics
and may not be calculated in the same manner by all companies, they may not be comparable to other similarly titled measures used by other
companies.

|                                        |     | For the years ended March 31, |            |     |      |            |   |     |      |           |
|                                        |     |                          2025 |            |     | 2024 |            |   |     | 2023 |           |
|                                        |     |                           US$ |            |     |  US$ |            |   |     |  US$ |           |
| Net income / (loss)                    |     |                               |  5,049,421 |     |      | (1,960,956 | ) |     |      | 2,140,670 |
| Interest expense, net                  |     |                               |  2,255,934 |     |      |    507,803 |   |     |      |   191,154 |
| Provision for income taxes             |     |                               |  1,128,672 |