Q2 2024 Treasure Global Inc Earnings Call

Good day, everyone and welcome to Treasury Global Inc. Second quarter of fiscal year, 'twenty 'twenty four call conference call.

At this time.

Participants are in a listen only mode.

This conference call is being recorded.

A replay of today's call will be available on the Investor Relations section of T. G. L website and will remain posted there for the next 30 days.

I will now hand, the call over to Eric Okay, Vice President Investor Relations of KC SA for instructions on the reading of the Safe Harbor statement.

Go ahead.

Thank you operator, good morning, everyone and welcome to the tragic global second quarter fiscal 2024 results conference call with US on today's call are <unk>, Chief Executive Officer, Michael Chang, Chief Financial Officer, and Jeremy Robert Independent Director before we begin I would like to remind you that today's call.

Contains certain forward looking statements from Treasury management made within the meaning of section 27 of the Securities Act of 1933 as amended and section 21 E of the Securities and Exchange Act of 1934, as a mandate concerning future events.

Words, such as May should project expects intends plans believes anticipates hopes estimates and variations of such words and similar expressions are intended to identify forward looking statements. These statements are subject to numerous conditions many of which are beyond the control of the company, including those set forth in there.

Risk factors section of the Companys Form 10-K for the year ended June 30, plenty twenty-three and subsequent filings filed with the FCC copies of these documents are available on Sec's website at Www Dot dot com actual results may differ materially from those expressed or implied by such.

Forward looking statements. The company undertakes no obligation to update these statements, where we bedrooms or changes after the date of this call except as required by law.

Now, it's my pleasure to introduce Sam T O P E. L. F T. G. L. M. Please go ahead.

Thanks, Erica and thank you everyone for joining us today on our second quarter of fiscal 'twenty 'twenty fall on these conference calls for that Peter.

That's the first December 'twenty to 'twenty three.

I'm pleased to be with you today to update you on the progress that we are making towards tried should go but business strategy and to provide you with our results for the quarter.

Before I review some of the exciting innovation.

During the quarter I want to update you on some stuff that'd be too that we believe will help tricia quota to achieve our goal and handshake Hodo video. This I shouldn't we shouldn't center on our ability to leverage new cutting edge artificial intelligent kept that PTT further our strategy to be a leading.

Nobody does in our region create new opportunities for profitable growth.

We believe this action.

A stronger company and will lead to a new state.

Tricia robot.

Supporting our operations growth in the second quarter.

A public offering raising 4 million U S daughter, less fee and asbestos we used a portion of the fun to retire the remaining U S dollar $2 1 million of convertible notes.

This action helped us to fortify our financial position and to optimize our capital structure.

A fun so that we can continue to develop new innovative product.

We support customer.

Our focus to higher margin business that muscle of a trade show called Buzzsaw 50 spilt.

Could it be two in the week.

Throughout the quarter, we announced several other initiatives that you did last artificial intelligence AI.

Our product offering and to get more meaningful with our customer.

Our use of AI, we have to be able to anticipate shifts in consumer demand, which has led to increases in market share for our businesses.

This effort has allowed us to identify new business opportunities.

US to focus our growth on.

The higher margin product.

Last call, we announced that we have to deal with it and AI robot should the acquisition.

Technology of Tencent.

We believe this would transform the ecommerce landscape on Tictoc offering dynamic interactive shopping experience for customers across the region.

This innovative pushed the product marketing has been successful as these catch the attention of the tick tock community and create a unique shopping speeded fovea work by providing a platform that can answer customer carry all that product Youtube and offer personalized recommendation.

This new way of shopping was a space that do not need drive increased revenue funds actually our e-commerce subsidiary, but is setting new standards in the last call Ms industry, let's start in the quarter, we messaged story by Haas the first event.

That's it he became the first to be stressed in Malaysia to contact and life homeless section kicked off this well attended event, that's what's caused by human and AI robot surpassed internet, but they shouldn't with over 6400 <unk>, we're participating in that section.

Because of the potential of this innovative technology and reshaping the way consumers interact with Bryan we demonstrated our ability to enhance consumer shopping speed, it leading to more consumer and gershwin.

1100 up a case that you read what's a significant leap forward for digital shopping SD Lan.

Cost of popularity picked up like almost provide a significant opportunity for Tricia Goldberg to diversify our revenue stream and showcase product on this activity in a more innovative and engaging manner picked.

Victor status at the World I, Yes traffic like Commerce platform the idea stage for.

It's actually to unveil, our groundbreaking technology and to showcase exited products and services.

Throughout the quarter, we continue to look for new ways to reach consumers and to push the tradition that boundary of E Commerce.

Following the success of our first like how much do you bank with another.

Event on May top platform with an irobot equate with wash linked question capability to earn cash with thousands of people in multiple languages.

Dow Languish barrier.

Haven't seen accessibility these.

This successful event.

Into lucrative market that are reshaping the future of E. Commerce. This militia e-commerce market correlated to U S. Dollar 20.9 billion by 'twenty 'twenty nine Tricia Gaba District did you cut E plus you should pay a law in just anticipate the explanation growth in the second quarter.

The news that C D Prime Minster.

Oh funding and English spelling bee diverse package, including top painful our strategy partner.

A robust and diversified offerings for user powered by our cutting edge technology that is actually the previous fall off like you know what if feature such as personalized recommendation.

I, driven discounts and Ria type transaction trucking, providing user defined I'm para and seamless shopping speed at the premise and to drive trips I shouldn't as well as increased gross profit for <unk> robot.

<unk> announced the launch of mini games in Zacks T. D. V. D was powered by Tricia grow, but I again create that we incorporate that and AI powered again created within the sexy D. Treaty works, so that use like a customer and trade the pen game integrated many gifts. These.

This strategy must not only enhance the gaming experience for us, but also positions actually deep.

The rapidly growing U S dollar to have the shelf billion global gaming market by offering in games with Chase and what should go.

Our interest into gaming and aligned with our commitment to diversifying our revenue stream.

I would just say that our reputation for innovation has been recognized during the quarter Trisha Grubber exactly did we shift the CEVA Trophy for best ecommerce solution at marketing Interactive Asia e-commerce than deep and retreat.

Oh, what recognize our commitment to excellence in the dynamic landscape of digital Commerce. Finally, we recently announced that we have entered into strategy aligned with I O synergy Hi, Neely I T Slim he's just Ebola, but.

Company through this collaboration we are focused on reshaping the landscape.

By working through what the development of next generation AI solution and developing an exclusive especially after update Austin that created specifically for vacation Vichy this stuff as a hub for cutting edge.

Data analytics and the creation of a I generate the human experience.

The initial focus of this partnership is on the Malaysia market, where both Tricia and I also see that you are committed to providing transformative AI solution to be success across our various industry. We expect to capitalize on the south East Asian market projected growth and regulation.

Region burgeoning interest in investment in.

This collaboration on the map.

A milestone for the two company, but it is also a significant step to let fostering innovation and knowledge in the South East Asia region.

<unk> alright.

For the first half of our fiscal year 'twenty 'twenty fall, we have demonstrated our commitment to developing innovative products.

Advancing new market opportunity truth strategy partnership.

We continue to make progress on our key part D. Grubbing, I dressed up a market and developing innovative new revenue generation opportunity. We have clearly established ourselves as the leader in E Commerce, and cognitive to released innovative services, offering which increasing user and gershwin.

I believe this opportunity has policy shouldn't Tricia robot to deliver continued growth and innovation and allow us to pursue higher margin activity in closing them.

I'm pleased with the progress that we have met.

Our business strategy and I am excited about the opportunity to have a Cheshire girl, but we continue to prove ourselves as the leading innovator in the region positioning us to continue a new customer.

More partner and Investor I believe we are well positioned for the future and we will continue to innovate and generally more profitable growth I will now pass the call over to Michael to discuss our financial results in greater detail.

Thank you Sam and good morning, everyone. Today, I will review our financial results for the second bucket of fiscal year 2024.

Zimbra or do your first 2023 compared to the same period in 2022 for the second quarter.

<unk> was $6 7 million compared with $20 4 million for the same period last year.

Revenue was down year over year as we continue to shift our focus to growing our higher margin business channel.

In case, that's call it new higher margin offerings.

S. B these costs last quarter cake offering offer higher margin, increasing user engagement and stickiness by providing mushrooms.

They come to rely on for a bit.

As Sam mentioned, we are also focused on growing our <unk> product.

Through our utilization of leap.

The increased revenue and higher margins. We believe these actions will translate into increased revenue and higher marketing for the company in the long term.

Gross profit for the second quarter of fiscal 2020 fall was approximately 346000 up from 234000 compared to the same period last year.

Striking that the initiative to grow gross profit that'd be implemented have already started to work.

Our net loss for Xbox one.

One 2 million for the second quarter of fiscal year <unk>.

And then 'twenty fall compared to approximately 2 million in the second quarter of fiscal year 2023.

As of December 31st 2023, our cash balance was approximately $1 2 million compared to a cash balance of approximately $4 7 million as of December 31st 2022.

Thanks T D.

Well work through six 8 million registered users and over 2027, but he said listen.

December 31st 2023.

Luckily you that for the quarter ending December 31st.

And then for any tweaks or 156979, while paid you live went down by 64% at buckle up Needlepoint Fi 8 million transaction well it sounds like.

You said user or the current quarter as we can.

I have mentioned, we remain laser focused on increasing gross profit and margin.

Yes, we have introduced so far are already working and we expect further improvement going forward.

As we continue to expand case and how you might use solution for the next T D.

Now I will turn the call back to Sam to highlight our growth strategy.

Thanks Micah.

Hum.

The opportunity I have what shashank rubber we have made significant progress on our business strategy and remain a leading innovator in the region. The success of our growth initiative has allowed us to a new customer.

New partner and Investor who support our business.

We are very spun and retire all of the COVID-19, but in this particular.

On sound footing for the future I believe we are well positioned for the future and remain focused on achieving profitable growth.

As part of this focus over the last five months you have seen us intentionally moved away from our lower margin solutions like our <unk> products Wow. This naturally lead us.

Two a decrease in growth and did you say user.

He was the this most strategically allow us to reserve more working capital. So that we can invest in developing our peace smartphone embarrass system, our one stop solution for food and beverage outlet.

And in our SSD solution that Judy Lastly, I L L bean.

To leverage this technology to capture higher margin as we move through fiscal 2020 for you guys.

US continue to innovate and develop new products and services with a focus on solution that will generate more profitable growth. Thank you again to everyone for joining us on todays call and for your continued support this concludes our prepared remarks.

I'll ask the operator to close the line. Thank you and have a great day.

Thank you for joining today and we'll now close the line.

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