Society Pass Inc - SOPA STOCK NEWS

Society Pass Inc. (Nasdaq: SOPA) is a data-driven, loyalty, fintech, and e-commerce ecosystem company in Southeast Asia. SOPA has achieved annual triple digit revenue growth over the past four years through its innovative business model and diversification strategy. Recent analyst recommendations have been bullish, emphasizing the company's potential growth, profitability, and positive EBITDA forecasts for 2024. SOPA recently executed a transformative structured financing agreement with Strattners, securing access to $40 million in funding, positioning the company for substantial expansion and providing avenues for growth and value creation.

Society Pass Inc. (Nasdaq: SOPA) is a high-growth acquisitive internet services company offering advertising, travel, retail, telecom, and fintech services in Southeast Asia. Litchfield Hills forecasts positive EBITDA as SOPA shifts from its early growth strategy to a focus on profitability under its new CEO. The SEA market is the world's fastest-growing region due to a movement away from China, young, tech-savvy populations, and business-friendly governments. SOPA's main subsidiaries include Thoughtful Media Group, NusaTrip, Next Generation Retail, Gorilla Mobile, and Society Points. Litchfield Hills values TMG at roughly $88 million and NusaTrip at roughly $65 million. SOPA is expected to spin off both TMG and NusaTrip via Nasdaq IPOs in 1H 2024, generating significant shareholder value. Ray Liang, the Co-Founder and former CFO, was promoted to CEO in October 2023 and has adopted a strategy focusing on profitability. SOPA's revenue is quickly growing, and EBITDA nears breakeven, with positive EBITDA projected in 2025. Litchfield Hills values SOPA at $123 million based on an EV/Revenue multiple of 4.8 times its estimated 2025 revenue estimate of $25.5 million.

Society Pass Inc. (Nasdaq: SOPA) and Thoughtful Media Group Inc (TMG) announce Greenridge Global LLC initiating equity research coverage on TMG. TMG aims to be SEA's premier digital advertising firm, with a valuation of $60 million and plans for a 2024 Nasdaq IPO. The company boasts a client list of over 500 brands and is part of the Society Pass ecosystem, targeting middle to upper class consumers in SEA.

Society Pass Inc. (Nasdaq: SOPA) announces equity research update by Ascendiant Capital Markets LLC. Ascendiant maintains a positive outlook due to SoPa's high growth prospects and large upside opportunities. 3rd Quarter 2023 Results show improvement Y-O-Y with revenues reaching $2.3 million (+11% y-o-y) and a strong balance sheet with $8 million in cash and no debt. The company plans to spinoff two of its businesses in IPOs in 2024, and there has been a management change with Raynauld Liang appointed as the new CEO.

NusaTrip (Nasdaq: SOPA) announces a strategic partnership with VNTravel to supply regional and international flights and hotels to Vietnamese customers. VNTravel, the leading travel technology company in Vietnam, offers over 30,000 premium accommodation options and partners with more than 200 global airlines. With Vietnam's tourism sector expecting 8% YOY growth until 2027, the partnership enables NusaTrip customers to explore the best travel offers to and from Vietnam, while empowering customers in Vietnam to transact with NusaTrip with ease and convenience.

Society Pass Inc. (SOPA) has been granted an extension by NASDAQ until 20 May 2024 to regain compliance with the minimum $1.00 per share bid price requirement. The company remains committed to executing its strategic initiatives and delivering value to its shareholders.

Society Pass Inc. (SOPA) announces Maxim Group LLC's equity research update, highlighting SOPA's low EV/revenue multiple, 3Q23 results beating estimates, positive outlook on expanding businesses geographically, and strong balance sheet with $8.2M unrestricted cash.

Society Pass Inc. (SOPA) announces that Greenridge Global LLC has issued an equity research update. The 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%. Third Quarter 2023 results show a 10.6% improvement in Revenue from the year ago period, with the bulk of the Revenue coming from Thoughtful Media and NusaTrip. The partnership with Guangzhou Junwei International Travel Service Co. Ltd creates new opportunities for NusaTrip in the SEA region.

Society Pass Incorporated (Nasdaq: SOPA) announces unaudited financial results for the third quarter ended 30 September 2023 and filing of its 3Q 2023 Form 10-Q with the SEC. The company reported cash on hand of $8.2 million, 9 months 2023 revenues grew 117.0% year on year, and gross profit margin improved to 28.1% in 9 months 2023. SoPa operates in digital advertising, travel, lifestyle, fintech/loyalty, and telecoms in five SEA countries, employing approximately 200 people. The CEO forecasts profitability for its main subsidiaries in 2023 and expects significant revenue generation through the SoPa Loyalty App and spinning out its main subsidiaries.