Troops, Inc. /Cayman Islands/
For the period ended Dec 31, 2025. Filed Apr 30, 2026.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2025 · Filed Apr 30, 2026
Contents
A. Selected Financial Data
The following tables set forth selected consolidated financial information for the fiscal year ended December 31, 2025, 2024 and 2023, which have been derived from our audited financial statements for those periods. Our historical results are not necessarily indicative of the results that may be expected in the future. You should read this data together with our consolidated financial statements and related notes as well as “Management’s Discussion and Analysis of Financial Condition and Results of Operations” appearing elsewhere in this annual report.
Consolidated Statement of Income
| | | | | | | |
|---|---|---|---|---|---|---|
| · · For the Years Ended December 31, | ||||||
| | | 2025 | | 2024 | | 2023 |
| REVENUES | | 17,096 | | 10,073 | | 3,569 |
| COST OF REVENUES | | (15,532) | (8,132) | (2,793) | ||
| GROSS PROFIT | | 1,564 | 1,941 | 776 | ||
| Selling expenses | | (317) | — | — | ||
| General and administrative expenses | | (17,932) | (3,956) | (2,754) | ||
| Reversal of impairment loss (Impairment loss) of trade receivables | | 241 | (243) | — | ||
| Reversal of impairment loss (Impairment loss) of loan and interest receivables | | 453 | (3,468) | 49 | ||
| Reversal of impairment loss (Impairment loss) of other receivables, prepayments and deposits | | (99) | (2) | 127 | ||
| Impairment loss of property, plant and equipment | | (13,444) | — | — | ||
| Total operating expenses | | (31,098) | (7,669) | (2,578) | ||
| | | | | | | |
| OPERATING LOSS | | (29,534) | (5,728) | (1,802) | ||
| | | | | | | |
| Interest income | | 62 | | 10 | | 14 |
| Interest expense | | — | | — | | (62) |
| Other income (expense), net | | 65 | | 22 | | (9) |
| Loss on change in fair value of convertible notes | | — | | (7,690) | | — |
| Total other income (expenses), net | | 127 | | (7,658) | | (57) |
| | | | | | | |
| LOSS BEFORE PROVISION FOR INCOME TAXES | | (29,407) | (13,386) | (1,859) | ||
| INCOME TAX (EXPENSE) BENEFIT | | 1,502 | (27) | 140 | ||
| NET LOSS | | (27,905) | (13,413) | (1,719) | ||
| | | | | | | |
| Loss per share: | | |||||
| Basic | | (0.23) | (0.13) | (0.02) | ||
| Diluted | | (0.23) | (0.13) | (0.02) | ||
| | | | | | | |
| Weighted average shares used in calculating loss per share: | | | ||||
| Basic | | 120,705,660 | 102,240,818 | 101,597,998 | ||
| Diluted | | 120,705,660 | 102,240,818 | 101,597,998 | ||
Consolidated Balance Sheet Data
(In thousands of U.S. Dollars)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · As of December 31, | ||||||
| | | 2025 | | 2024 | | 2023 |
| | | | | | | |
| Total assets | | 69,066 | | 79,185 | | 70,345 |
| Total liabilities | 20,042 | | 10,936 | | 9,766 | |
| Total equity | 49,024 | | 68,249 | | 60,579 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.