Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 110

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 110
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     | $                             |    366,578 |   |     | $    |    232,459 |   |     | $      |   134,117 |    |     |        |       |    |
| Gross profit percentage |     |                               |       67.7 | % |     |      |       63.1 | % |     |        |       4.6 | %  |     |        |  57.7 | %  |
| Total                   |     |                               |            |   |     |      |            |   |     |        |           |    |     |        |       |    |
| Gross profit            |     | $                             | 21,243,361 |   |     | $    | 13,318,458 |   |     | $      | 7,924,903 |    |     |        |       |    |
| Gross profit margin     |     |                               |       15.0 | % |     |      |       13.7 | % |     |        |       1.3 | %  |     |        |  59.5 | %  |

Our gross profit increased
by approximately $7.9 million, or 59.5%, to approximately $21.2 million for the year ended March 31, 2025 from approximately $13.3 million
for the same period in 2024. The increase was primarily attributable to increased gross profit from console games and game publishing
by approximately $4.0 million and $3.8 million, respectively. These increases are consistent with the corresponding growth in revenue
from console games and game publishing.

For the year ended March
31, 2025, our overall gross margin increased slightly to 15.0% from 13.7% for the year ended March 31, 2024, primarily reflecting our
ability to maintain stable pricing and cost structure across our major segments, including console game and game publishing.

Operating Expenses

Total operating expenses increased by approximately $2.3 million, or
16.5%, to approximately $18.0 million for the year ended March 31, 2025 from approximately $15.7 million for the year ended March 31,
2024. The increase was mainly attributed to the following:

Approximately $34,000, or
1.3%, decrease in selling expense was mainly attributed to a reduction of approximately $642