Buckle up, because market excitement is all about one unexpected winner: Treasure Global Inc. (NASDAQ: TGL). This Malaysian e-commerce company is making serious waves, with its stock surging after a surprising earnings report flipped red ink into real profit. Investors are paying attention — and for good reason.
As of the latest trading session, Treasure Global Inc. (NASDAQ: TGL) closed the regular trading session at $2.10, marking a 15.38% gain on the day. The momentum didn’t stop there—in after-hours trading, the stock surged another 30.77% to hit $2.38 as of 8:30 PM.
The company has a market cap of approximately $3.42 million, supported by a relatively small float of 1.63 million shares and a free float percentage of 80.35%. Trading volume reached 22.19 million shares, highlighting strong investor interest.
Treasure Global stock’s trailing twelve-month earnings per share (EPS) stands at $26.50, with a notably low price-to-earnings (P/E) ratio of 0.08. However, its cash flow per share remains in the red at -$0.22, and the book value per share is just $0.10—underscoring the stock’s speculative and high-risk nature despite its recent rally.
So, what’s fueling the frenzy?
Treasure Global just released its Q3 fiscal 2025 results, and they stunned the market. The company posted $1.26 million in net income, compared to a $1.71 million loss in the same quarter last year. That’s not just a rebound — it’s a full-on turnaround. Over the past nine months, TGL stock swung from a $5 million loss to profitability, with earnings per share (EPS) of $1.09. A year ago, it was a staggering $116.03 loss per share. That kind of comeback gets Wall Street’s attention fast.
But it’s not all perfect. Revenue dropped 58% year-over-year, from $1.6 million to $0.67 million. However, the company’s gross profit margin surged to 73%, up from just 14% a year ago. That shift shows TGL is focusing on more profitable parts of its business instead of just chasing sales volume. Even though a $1.78 million non-cash gain helped boost results, the bigger picture is about smarter, leaner operations — and the market likes what it sees.
What does Treasure Global actually do?
If you’re new to the name, Treasure Global runs the ZCITY Super App, a popular digital platform in Malaysia that combines payments, rewards, and online-to-offline shopping. With 2.9 million registered users as of March 2025, ZCITY plays a key role in Malaysia’s digital economy. But TGL isn’t stopping there.
In 2025, it’s been making bold moves to expand. The company partnered with Reveillon Group to launch a software development arm and teamed up with Mezzofy (Hong Kong) to launch a digital coupon platform. It also acquired a 51% stake in Tien Ming Distribution, helping it break into logistics and consumer goods distribution. These efforts aim to build a fully integrated digital ecosystem, and the pieces are starting to fit together.
But don’t ignore the risks.
TGL stock is not for the faint of heart. The share price has swung wildly this year, down more than 99% from its 52-week high of $261.00 to under $2 today. Small-cap stocks like this are known for big moves in both directions.
Plus, while profits look good now, that steep drop in revenue raises questions about long-term growth. And with a market cap of just $2.96 million, the company is still very much in risky territory. Any bad news — from earnings to regulation — could send the stock tumbling.
Bottom line:
TGL’s dramatic turnaround is a reminder that in today’s market, profitability matters — and companies that tighten their belts and focus on margins can see their stock soar. Still, high volatility and low revenue growth make this a stock for bold investors only.
Watching from the sidelines? That’s fine too. But if TGL can deliver on its vision, today’s price could eventually look like a bargain.





