Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 189

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 189
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 respectively. For the years ended
March 31, 2025, 2024, and 2023, revenue recognized that was included in the beginning period contract liabilities balance amounted to
$209,903, $363,726, and $433,924, respectively. As of March 31, 2025 and 2024, there were no contracts with performance obligations
beyond twelve months for revenue recognition.

Disaggregated information of revenues by products/services
are as follows:

                                            For                                                                                             
                                            the Years Ended March 31,                                                                       
                                            2025                                            2024                      2023                  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Console game                              $                               36,082,735      $         38,429,942      $         39,499,316  
  Console game code                                                         87,180,808                52,588,862                28,575,826  
  Console game– subtotal                                                   123,263,543                91,018,804                68,075,142  
  Game publishing                                                           16,029,523                 3,431,680                 6,103,312  
  Video marketing campaign services                                          1,815,420                 2,128,589                 2,486,844  
  Social media advertising services                                            422,944                   587,500                   778,857  
  Media advertising services- subtotal                                       2,238,364                 2,716,089                 3,265,701  
  Other revenue                                                                541,156                   368,128                         —  
  Total revenues                            $                              142,072,586      $         97,534,701      $         77,444,155  

Warranty

The Company generally provides
limited warranties for its products sold. At the time a sale is recognized, the Company records estimated future warranty costs under
ASC 460. Such estimated costs for warranties are estimated at time of delivery and these warranties are not service warranties separately
sold by the Company. Generally, the estimated claim rates of warranty are based on actual warranty experience or the Company’s best
estimate. As the historical claim rates of warranty were immaterial, the Company did not accrue warranty reserves as of March 31,
2025 and 2024.

Advertisement expense

Advertising is mainly through
online and offline promotion activities. Advertisement