Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K
Rhea-AI Filing Summary
Ticketplus Ltd. (TP) reports strong interim growth for the six months ended June 30, 2026. Revenue rose to $22.8 million from $13.6 million, while net profit increased to $4.1 million from $1.6 million. Gross profit margin expanded from 38.7% to 49.0%, and EBITDA nearly doubled to $9.6 million, with EBITDA margin improving to 42.1%.
Cash and cash equivalents were $3.8 million against bank loans of about $14.7 million, reflecting continued use of debt to fund growth and software investment, including $9.7 million of capitalized development. After period-end, Ticketplus completed an IPO and partial over-allotment, raising net proceeds of roughly $15.7 million, which would have lifted pro forma cash to about $19.4 million, above total bank debt.
Positive
- Revenue grew 68.0% year over year to $22.8 million, showing rapid top-line expansion.
- Net profit rose 150.5% to $4.1 million, with results from continuing operations margin improving to 18.0%.
- EBITDA increased to $9.6 million with EBITDA margin of 42.1%, up from 33.9%.
- Total Platform Sales (GMV) reached $280.3 million, up about 124%, supporting scalable platform economics.
- Post-period IPO and over-allotment generated net proceeds of approximately $15.5–15.7 million, significantly strengthening liquidity.
Negative
- Bank loans totaled about $14.7 million, with financial costs up 78.8% to $1.1 million, increasing leverage and interest burden.
- Net cash used in investing activities was $9.8 million, mainly for capitalized software development, exceeding operating cash inflows.
- Effective tax rate rose to 26.8% from 14.9%, lifting income tax expense to $1.5 million.
