Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 161

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 161
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 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 |     |      |     53,291 |   |     |      |   620