SOPA

Society Pass Inc. (Nasdaq: SOPA) 1Q 2024 Shareholder Update and Analyst Recommendations

Retrieved on: 
Wednesday, January 10, 2024

Litchfield Hills forecasts positive EBITDA in 2024 as SOPA shifts from its early growth strategy to a focus on profitability under its new CEO.

Key Points: 
  • Litchfield Hills forecasts positive EBITDA in 2024 as SOPA shifts from its early growth strategy to a focus on profitability under its new CEO.
  • Society Pass Inc. recently executed a transformative structured financing agreement with Strattners, securing access to $40 million in funding.
  • "The financing agreement with Strattners positions Society Pass Inc. for substantial expansion, providing avenues for growth and value creation," stated Raynauld Liang, SOPA CEO.
  • A Year of Solid Achievements:
    Society Pass Inc. achieved numerous milestones over the past year, focusing on technological innovation, customer satisfaction, and shareholder value.

Society Pass Inc. (Nasdaq: SOPA): Litchfield Hills Initiates Equity Research Coverage; SOPA Growing Rapidly and Nearing Positive EBITDA Inflection

Retrieved on: 
Wednesday, December 27, 2023

NEW YORK, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Society Pass Inc. (Nasdaq: SOPA) (“SoPa” or the “Company”), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, announces that Litchfield Hills Research (“Litchfield Hills”) has initiated equity research coverage on SOPA.

Key Points: 
  • NEW YORK, Dec. 27, 2023 (GLOBE NEWSWIRE) -- Society Pass Inc. (Nasdaq: SOPA) (“SoPa” or the “Company”), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, announces that Litchfield Hills Research (“Litchfield Hills”) has initiated equity research coverage on SOPA.
  • Click Here (on Society Pass website) to view the full Litchfield Hills Equity Research Report.
  • Litchfield Hills forecasts positive EBITDA as SOPA shifts from its early growth strategy to a focus on profitability under its new CEO.
  • Based on an EV/Revenue multiple of 4.8 times its estimate 2025 revenue estimate of $25.5 million, Litchfield Hills values SOPA at $123 million.

Society Pass Inc. (Nasdaq: SOPA)/Thoughtful Media Group Inc (TMG): Greenridge Global Initiates Equity Research Coverage on TMG; TMG To Capture Significant Advertising Market Share In Southeast Asia

Retrieved on: 
Wednesday, December 13, 2023

Click Here (on Society Pass website) to view the full Greenridge Equity Research Report.

Key Points: 
  • Click Here (on Society Pass website) to view the full Greenridge Equity Research Report.
  • The low median age is significant as this age group are prevalent users of the Internet and social media.
  • • Society Pass Ecosystem: TMG is part of the Society Pass ecosystem, which includes a collection of service providers targeting middle to upper class consumers in SEA.
  • The platform is based on the Society Pass Loyalty Wallet and enables consumers to earn Society Points for purchases on platform companies.

Society Pass Inc (Nasdaq: SOPA): Ascendiant Capital Issues 3Q 2023 Equity Research Update; 3Q Results Show Solid Revenue Growth and Maintains Positive Outlook on Growth Prospects

Retrieved on: 
Thursday, December 7, 2023

Click Here (on Society Pass website) or Here (on Ascendiant website) to view the full Ascendiant Equity Research Report.

Key Points: 
  • Click Here (on Society Pass website) or Here (on Ascendiant website) to view the full Ascendiant Equity Research Report.
  • • Valuation: Ascendiant maintains a positive outlook due to SoPa’s high growth prospects and large upside opportunities.
  • • 3rd Quarter 2023 Results Shows Improvement Y-O-Y: Revenues reached $2.3 million (+11% y-o-y).
  • • Management Change: In October 2023, Raynauld Liang was appointed as the new Chief Executive Officer of the company.

Society Pass Inc (Nasdaq: SOPA) / NusaTrip Inc Partners with Vietnam-based Travel Platform, VN Travel Group, to Jointly Market to Vietnamese Customers

Retrieved on: 
Wednesday, November 29, 2023

As the leading travel technology company in Vietnam over the last 11 years, VNTravel offers over 30,000 premium accommodation options and partners with more than 200 global airlines.

Key Points: 
  • As the leading travel technology company in Vietnam over the last 11 years, VNTravel offers over 30,000 premium accommodation options and partners with more than 200 global airlines.
  • VNTravel reaches various customer segments through different sales channels: domestic retail via Mytour.vn , international retail through Dinogo.com , travel agencies via Tripi.vn , and other B2B2C channels.
  • Patrick Soetanto, Nusatrip Chief Executive Officer, explains, “NusaTrip focuses on becoming the preferred destination for all travel needs here in SEA.
  • In addition, partnering with a prominent fintech company such as SOPA truly elevates VNTravel’s market positioning here in Vietnam.”

Society Pass Inc (Nasdaq: SOPA) Granted Extension until 20 May 2024 to Regain Compliance with Nasdaq Listing Rules

Retrieved on: 
Friday, November 24, 2023

NEW YORK, Nov. 24, 2023 (GLOBE NEWSWIRE) -- Society Pass Inc. (Nasdaq: SOPA) (“SoPa” or the “Company”), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem announces that it has received an extension until 20 May 2024 to regain compliance with NASDAQ Listing Rules.

Key Points: 
  • NEW YORK, Nov. 24, 2023 (GLOBE NEWSWIRE) -- Society Pass Inc. (Nasdaq: SOPA) (“SoPa” or the “Company”), Southeast Asia’s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem announces that it has received an extension until 20 May 2024 to regain compliance with NASDAQ Listing Rules.
  • The NASDAQ extension letter was filed in a Form 8-K with the U.S. Securities and Exchange Commission (“SEC”) on 22 November 2023.
  • This determination is pursuant to the discretionary authority granted to NASDAQ by the SEC and is subject to compliance with other continued listing requirements.
  • Ray Liang, Society Pass Inc CEO, states, "We are pleased with the extension granted by NASDAQ, which provides us with an additional six months to meet the minimum bid price requirement.

Society Pass Inc (Nasdaq: SOPA): Maxim Issues 3Q 2023 Equity Research Update; Maintains Positive Outlook on Organic Growth & M&A

Retrieved on: 
Wednesday, November 22, 2023

Click Here (on Society Pass website) or Here (on Maxim website) to view the full Maxim Equity Research Report.

Key Points: 
  • Click Here (on Society Pass website) or Here (on Maxim website) to view the full Maxim Equity Research Report.
  • • Valuation: SOPA trades at an EV/revenue multiple of 0.1x Maxim’s 2024 revenue estimate vs. the peer average of 2.4x.
  • Maxim’s positive outlook is supported by the attractive SE Asian markets and opportunities to consolidate smaller companies.
  • • 3rd Quarter 2023 Results Beat Estimates: 3Q 2023 results showed revenues of $2.3M, up from $2.1M in the prior year quarter and $2.2M in 2Q 2022.

Greenridge Global: Society Pass Inc’s (Nasdaq: SOPA) 3Q 2023 Financial Results Inline with Estimates; Maintains Optimistic View of SOPA’s Business Plan

Retrieved on: 
Tuesday, November 21, 2023

Click Here (on Society Pass website) to view the full Greenridge Global Equity Research Report.

Key Points: 
  • Click Here (on Society Pass website) to view the full Greenridge Global Equity Research Report.
  • • Valuation: Greenridge Global’s valuation is based on an EV/Revenue multiple of roughly 3 times its 2025 Revenue estimate of $33.32 million, discounted back one year at 20%.
  • • 3rd Quarter 2023 Results Inline with Estimates: SoPa reported third quarter results with Revenue of $2.3 million, a 10.6% improvement from the year ago period.
  • Given SoPa’s history of acquisitions, a successful integration could ultimately result in an investment or acquisition directly into Junwei.

Society Pass Inc’s (Nasdaq: SOPA) 9 Mths 2023 Financials : Revenues Increased 117% yoy; Gross Profit Margin Improved to 28.1%; Cash Operating Expenses Declined 32.6% yoy

Retrieved on: 
Wednesday, November 15, 2023

• 9 months 2023 gross profit margin grew to 28.1% in 9 months 2023 from 9.8% in 9 months 2022.

Key Points: 
  • • 9 months 2023 gross profit margin grew to 28.1% in 9 months 2023 from 9.8% in 9 months 2022.
  • • 3Q 2023 gross profit margin declined to 24.8% in 3Q 2023 from 26.4% in 2Q 2023.
  • • While 3Q 2023 revenues grew 10.7% year on year, 3Q 2023 cash operating expenses declined 54.6% year on year (from $7,426,684 in 3Q 2022 to $3,368,443 in 3Q 2023).
  • • While 3Q 2023 revenues grew 3.7% quarter on quarter, 3Q 2023 cash operating expenses increased 15.1% quarter on quarter (from $2,927,505 in 2Q 2023 to $3,368,443 in 3Q 2023).

Society Pass Inc (Nasdaq: SOPA) Applies to Extend An Additional 180 Days to Meet the $1.00 Minimum Bid Price Requirement

Retrieved on: 
Tuesday, November 14, 2023

NEW YORK, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Society Pass Incorporated (Nasdaq: SOPA) (“SoPa”), Southeast Asia (SEA)’s next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that it has applied to The Nasdaq Stock Market (“Nasdaq”) requesting an additional 180 days to comply with the $1.00 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2).

Key Points: 
  • NEW YORK, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Society Pass Incorporated (Nasdaq: SOPA) (“SoPa”), Southeast Asia (SEA)’s next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that it has applied to The Nasdaq Stock Market (“Nasdaq”) requesting an additional 180 days to comply with the $1.00 minimum bid price required for continued listing on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2).
  • With the exception of the bid price requirement, SoPa believes it meets the continued listing requirements for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market including stockholders’ equity, publicly held shares, public holders and market makers.