Enigmatig Limited Announces First Six Months of Fiscal Year 2025 Unaudited Financial Results
Rhea-AI Summary
Enigmatig Limited (NYSE American: EGG) reported strong financial results for H1 FY2025, marking a significant turnaround with a net profit of US$1.2 million compared to a net loss in the previous year. The company's corporate services income surged by 112.1% YoY to US$2.9 million, driven by robust growth in license application services (158% increase) and corporate secretarial services (90.2% increase).
The company demonstrated substantial margin improvement, with gross profit increasing by 192.1% to US$2.2 million and gross margin expanding to 74.8% from 54.3%. Following its NYSE American IPO in June 2025, which raised US$15.0 million, Enigmatig has strengthened its global presence with offices in Singapore, Hong Kong, Shanghai, London, and a Bangkok representative desk.
Positive
- None.
Negative
- High dependence on corporate secretarial services (60.7% of revenue)
- Geographic concentration risk with operations limited to five locations
News Market Reaction – EGG
In the trading session that priced this news, EGG gained 2.16%, reflecting a moderate positive market reaction. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility.
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Corporate services income increased significantly by
Net profit reached US
SINGAPORE, July 22, 2025 (GLOBE NEWSWIRE) -- Enigmatig Limited (NYSE American: EGG) ("Enigmatig" or the "Company"), an international consultancy firm providing one-stop cross-border licensing solutions and related services, today announced its unaudited financial results for the first six months of fiscal year 2025, ended March 31, 2025.
First Six Months of Fiscal Year 2025 Financial Highlights
- Total corporate services income increased by
112.1% to US$2.9 million for the six months ended March 31, 2025, compared with US$1.4 million in the same period of fiscal year 2024. - Cost of sales remained stable at US
$0.7 million for the six months ended March 31, 2025, compared with US$0.6 million in the same period of fiscal year 2024. - Gross profit increased by
192.1% to US$2.2 million for the six months ended March 31, 2025, compared with US$0.7 million in the same period of fiscal year 2024. - Profit from operations was US
$1.2 million for the six months ended March 31, 2025, marking a significant turnaround from a loss of US$0.2 million in the same period of fiscal year 2024. - Net profit was US
$1.2 million for the six months ended March 31, 2025, marking a significant turnaround from a net loss of US$0.1 million in the same period of fiscal year 2024.
Business Updates
- In June 2025, the Company completed its initial public offering on the NYSE American, raising gross proceeds of approximately US
$15.0 million , including proceeds from the partial exercise of the underwriters’ over-allotment option. - As of March 31, 2025, the Company has established a presence across key international markets, with four offices located in Singapore, Hong Kong, Shanghai, and London, as well as a representative desk in Bangkok. These locations support the Company’s global operations and enhance its ability to serve a diverse and growing client base.
- During the six months ended March 31, 2025, the Company consistently expanded its client roster for regtech services (“RegTech”), including KYC, AML and transaction monitoring functions, which are integrated into the Company’s proprietary CRM platform. As of March 31, 2025, the Company had completed onboarding for five RegTech services clients, following the initial rollout of these services in late 2024. The Company is actively marketing its RegTech offerings to both new and existing clients, positioning RegTech as a strategic growth pillar for the future.
Desmond Foo, Founder and CEO of Enigmatig, commented, "We are incredibly encouraged by our performance in the first half of fiscal 2025, particularly as we navigated a dynamic and fast-evolving business environment. Our successful listing on the NYSE American in June marked a pivotal milestone, not just in terms of capital markets access, but as a strong reaffirmation of Enigmatig’s long-term vision for bold, global expansion. With this solid foundation, we are advancing our strategic priorities with clarity and conviction: expanding our international footprint, deepening our value proposition through innovation and technology, pursuing selective M&A opportunities, and investing in global talent to better serve our diverse, growing client base."
Mingwen Teo, the Company’s Director and CFO, added, "We delivered a strong financial performance in the first six months of fiscal 2025, with revenue more than doubling year-on-year and profitability significantly improving across all key metrics. Our operating leverage is beginning to materialize, as demonstrated by gross margin expansion driven by more efficient absorption of fixed costs over a larger revenue base. Following our IPO, we also strengthened our capital position, providing the financial flexibility to invest in future growth, accelerate development of our technology platforms, and create long-term value for our shareholders."
First Six Months of Fiscal Year 2025 Financial Results
Corporate Services Income
Corporate services income grew by
The table below sets forth the breakdown of our corporate services income for the periods indicated:
| For the Six Months Ended March 31, | |||||
| 2024 | 2025 | ||||
| US$ | % | US$ | % | ||
| Corporate services income: | |||||
| License application and renewal services | 441,118 | 1,138,271 | |||
| Corporate secretarial and other services | 926,227 | 1,761,745 | |||
| Total | 1,367,345 | 100.0 | 2,900,016 | 100.0 | |
- License application and renewal services. Income from license application and renewal services increased by
158.0% to US$1.1 million , compared to US$0.4 in the prior-year period. The growth was primarily driven by a higher number of projects, supported by an expanding client base. - Corporate secretarial and other services. Income from corporate secretarial and other services rose by
90.2% to US$1.8 million from US$0.9 million in the same period of fiscal year 2024. This was mainly attributable to increased new client engagements, particularly from larger accounts with higher average revenue contributions.
Cost of Sales
Cost of sales was US
Gross Profit
Gross profit jumped by
Operating Expenses
Operating expenses totaled US
Profit from Operations
Profit from operations reached US
Other Income
Other income totaled US
Net Profit
The Company reported net profit of US
Cash and Cash Equivalents
As of March 31, 2025, the Company had cash and cash equivalents of US
About Enigmatig Limited
Enigmatig is an international business enabler dedicated to helping small and medium-sized enterprises (SMEs) achieve their international ambitions. Since 2010, we have connected businesses with the expertise, infrastructure, and regulatory support needed to succeed in cross-border markets.
With deep capabilities in FX brokerage consultancy, licensing, RegTech, FinTech, and corporate services, Enigmatig delivers tailored solutions across the full business lifecycle – from company incorporation to ongoing compliance. Our experienced team specializes in navigating complex regulatory environments across global financial hubs and key offshore centers, including London, Cyprus, and Belize
Headquartered in Singapore with a strategic presence in Hong Kong, Shanghai, London, and a representative desk in Bangkok, Enigmatig supports a diverse and growing international client base.
For more information, please visit: https://enigmatig.com
Safe Harbor Statement
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “aim,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “is/are likely to,” “potential,” “project” or “continue” or the negative of these terms or other comparable or similar terminology. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC, which are available for review at www.sec.gov.
For investor and media inquiries, please contact:
Enigmatig Investor Relations
Email: investors@enigmatig.com
| ENIGMATIG LIMITED UNAUDITED CONSOLIDATED BALANCE SHEETS (In U.S. dollars, except for share and per share data, or otherwise noted) | |||||
| As of | |||||
| September 30, 2024 | March 31, 2025 | ||||
| ASSETS | |||||
| Current assets | |||||
| Cash and cash equivalents | $ | 1,593,037 | $ | 3,375,833 | |
| Accounts receivable, net | 1,081,866 | 592,128 | |||
| Contract assets | 528,342 | 85,416 | |||
| Other current assets | 153,241 | 240,379 | |||
| Total current assets | 3,356,486 | 4,293,756 | |||
| Non-current assets | |||||
| Property and equipment, net | 731 | 217,503 | |||
| Right-of-use assets, net | 104,911 | 845,235 | |||
| Deposits | 21,549 | 181,192 | |||
| Total non-current assets | 127,191 | 1,243,930 | |||
| Total assets | $ | 3,483,677 | $ | 5,537,686 | |
| LIABILITIES | |||||
| Current liabilities | |||||
| Accounts payable | $ | 327,992 | $ | 384,825 | |
| Accrual and other liabilities | 205,875 | 150,781 | |||
| Contract liabilities | 1,048,934 | 972,490 | |||
| Operating lease liabilities, current | 58,561 | 295,042 | |||
| Income taxes payable | 28,230 | 281,207 | |||
| Total current liabilities | 1,669,592 | 2,084,345 | |||
| Non-current liabilities | |||||
| Operating lease liabilities, non-current | 33,557 | 538,001 | |||
| Total non-current liabilities | 33,557 | 538,001 | |||
| Total liabilities | $ | 1,703,149 | $ | 2,622,346 | |
| ENIGMATIG LIMITED UNAUDITED CONSOLIDATED BALANCE SHEETS (In U.S. dollars, except for share and per share data, or otherwise noted) | |||||
| As of | |||||
| September 30, 2024 | March 31, 2025 | ||||
| COMMITMENTS AND CONTINGENCIES | |||||
| SHAREHOLDERS’ EQUITY | |||||
| Class A ordinary shares, US | 19 | 19 | |||
| Class B ordinary shares, US | 31 | 31 | |||
| Additional paid-in capital | $ | 117,320 | $ | 117,320 | |
| Retained earnings | 1,519,286 | 2,752,846 | |||
| Accumulated other comprehensive (loss) income | 143,872 | 45,125 | |||
| Total shareholders’ equity | 1,780,528 | 2,915,345 | |||
| Total liabilities and shareholders’ equity | $ | 3,483,677 | $ | 5,437,686 | |
| ENIGMATIG LIMITED UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (In U.S. dollars, except for share and per share data, or otherwise noted) | |||||
| For the Six Months Ended March 31, | |||||
| 2024 | 2025 | ||||
| Corporate services income | $ | 1,367,345 | $ | 2,900,016 | |
| Cost of sales | (624,227) | (729,724) | |||
| Gross profit | 743,118 | 2,170,292 | |||
| Operating expenses: | |||||
| Payroll and employee benefits | (210,950) | (217,665) | |||
| Depreciation expenses | (2,954) | (8,273) | |||
| Operating lease expenses | (49,084) | (38,662) | |||
| Other operating expenses | (644,775) | (659,126) | |||
| Total operating expenses | (907,763) | (923,726) | |||
| Profit/(loss) from operations | (164,645) | 1,246,566 | |||
| Other income: | |||||
| Other income, net | 21,556 | 244,337 | |||
| Total other income | 21,556 | 244,337 | |||
| Profit/(loss) before tax expense | (143,089) | 1,490,903 | |||
| Income tax expense | - | (257,343) | |||
| Net profit/(loss) | (143,089) | 1,233,560 | |||
| Other comprehensive income: | |||||
| Foreign currency translation adjustment, net of income tax | 58,265 | (98,747) | |||
| Total comprehensive income/(loss) | $ | (84,824) | $ | 1,134,813 | |
| Net Income (loss) per share attributable to ordinary shareholders | |||||
| Basic and diluted | (0.01) | 0.05 | |||
| Weighted average number of ordinary shares used in computing net income per share | |||||
| Basic and diluted | 25,000,000 | 25,000,000 | |||
