TechCreate Group Ltd. Reports First Half Fiscal Year 2025 Financial and Operational Results

SINGAPORE--(BUSINESS WIRE)-- TechCreate Group Ltd. (NYSE American: TCGL) (“TechCreate” or the “Company”), a technology consultancy and advanced software solutions provider specializing in payment solutions, cybersecurity, and digital services, announced its financial and operational results for the six months ended June 30, 2025.

Recent Operational Highlights

• Secured a new Real-Time Engine Project in Singapore and Real-Time Engine enhancement by an existing Brunei customer
• Secured and fulfilled the QR Soundbox Terminal Business Line work for a Cambodia bank
• Completed successful initial public offering (“IPO”) and sale of option shares in October 2025, raising gross proceeds of $11.73 million, prior to deducting underwriting discounts and other offering expenses. TechCreate’s Class A Ordinary Shares began trading on the NYSE American on October 2025 under the ticker symbol “TCGL”

First Half 2025 Financial Results

Total Revenues increased 10.4% to S$1.9 million (US $1.5 million) for the six months ended June 30, 2025 compared to S$1.8 million in the same period last year. The increase was primarily due to an increase in Provision of Professional Services stemming from a new Real-Time Engine Project in Singapore and Real-Time Engine enhancement by existing Brunei Customer, an increase in Sale of Hardware Solutions as the Company’s Cambodian team successfully started the QR Soundbox Terminal Business Line, and an increase in Provision of Hosting and Supporting Service, offset by a decrease in Sale of Software Licenses and Maintenance Licenses.

Cost of Revenue decreased 22.7% to S$0.6 million (US $0.4 million) for the six months ended June 30, 2025 compared to S$0.7 million in the same period last year. The decrease was primarily due to a decrease in sales of license maintenance for third party software.

Gross Profit Margins increased to 70.5% for the six months ended June 30, 2025 compared to 57.8% in the same period last year. The increase was primarily due to an increase in revenue from provision of professional fees, and a decrease in sales of software licenses and maintenance licenses which lowers external vendor costs.

Total Operating Expenses increased 2.2% to S$1.3 million (US $1.0 million) for the six months ended June 30, 2025 compared to S$1.3 million in the same period last year. The slight increase was primarily due to an increase in general and administrative expenses and selling and distribution expenses offset by a decrease in research and development expenses.

Net Loss was approximately S$20,000 (US $16,000) for the six months ended June 30, 2025 compared to a loss of S$0.4 million in the same period last year, primarily due to the increase in gross profit and gross profit margin.

As of June 30, 2025, cash and cash equivalents were approximately S$1.3 million (US $1.0 million).

Management Commentary

“I am pleased to announce our first half fiscal 2025 results, highlighted by our growth seen in the provision of professional services revenue,” said TechCreate CEO Heng Hai Lim. “During this period, we were awarded a handful of notable deals with valued customers, including a new Real-Time Engine project in Singapore, a Real-Time Engine enhancement by an existing Brunei customer, and a new contract to provide QR Terminal to a Cambodia bank. We also continued to lower our focus on the sale of software and maintenance licenses, which are lower margin in nature. The progress made towards our bottom-line results was encouraging to see, and we look forward to continuing to pursue professional services work with new and existing customers as we grow our global presence.”

About TechCreate Group Ltd.

TechCreate Group Ltd. is a Singapore-based payment software solutions provider. Founded in 2015, the Company delivers digital payment and infrastructure solutions to financial institutions, telecommunications, deposit insurance, and enterprises. TechCreate’s offerings include real-time payment systems, digital banking platforms, API management, cybersecurity, and cloud computing. Its proprietary Artificial Intelligence Real-Time Engine (AI-RTE) is designed to enable fast, secure, and efficient payment processing. For more information, visit https://www.techcreate.com.sg/.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and TechCreate Group Ltd. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

TECHCREATE GROUP LTD CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
		As at December 31,				As at June 30,
		2024				2025 (Unaudited)				2025 (Unaudited)
		S$				S$				US$
ASSETS
Current Assets
Deferred Cost			576,562				312,458				244,911
Contract Assets			145,383				65,680				51,481
Accounts and Other Receivable			276,734				110,930				85,950
Amount Due from Shareholders			4,900				4,900				3,841
Amount Due from Related Party			11,772				-				-
Cash and Cash Equivalents			1,205,951				1,305,991				1,023,664
Deferred Offering Costs			457,718				711,848				557,962
Total Current Assets			2,679,020				2,511,807				1,968,809
Non-Current Assets
Property, Plant and Equipment, net			7,929				6,438				5,046
Right-of-Use Assets – Operating Leases			83,288				62,699				49,145
Deferred Cost			57,400				96,014				75,258
Total Non-Current Assets			148,617				165,151				129,449
TOTAL ASSETS			2,827,637				2,676,958				2,098,258
Commitments and Contingencies			-				-				-
LIABILITIES
Current Liabilities
Contract Liabilities			981,651				660,699				517,870
Account and Other Payables			100,653				363,183				284,672
Amount Due to Directors			14,907				3,646				2,858
Operating Lease Liability			39,815				37,890				29,699
Income Tax Payables			277				260				204
Working Capital Loans			151,714				156,155				122,398
Total Current Liabilities			1,289,017				1,221,833				957,701
Non-Current Liabilities:
Operating Lease Liability			47,233				28,742				22,529
Contract Liabilities			8,247				49,293				38,636
Working Capital Loans			608,416				503,249				394,458
Total Non-Current Liabilities			663,896				581,284				455,623
TOTAL LIABILITIES			1,952,913				1,803,117				1,413,324
SHAREHOLDERS’ EQUITY
Class A Ordinary Shares, US$0.0002 par value, 225,000,000 shares authorized, 14,927,250 shares issued and outstanding as of December 31, 2024 and June 30, 2025 respectively.*			-				-				-
Class B Ordinary Shares, US$0.0002 par value, 25,000,000 shares authorized, 2,572,750 shares issued and outstanding as of December 31, 2024 and June 30, 2025 respectively.*			-				-				-
Additional Paid-in Capital			1,351,540				1,351,540				1,059,367
Accumulated Other Comprehensive Loss			(7,875	)			11,389				8,924
Retained Earnings/ (Accumulated Losses)			(468,941	)			(489,088	)			(383,357	)
Total Shareholders’ Equity			874,724				873,841				684,934
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY			2,827,637				2,676,958				2,098,258

TECHCREATE GROUP LTD CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited)
		For the six months ended June 30,
		2024				2025				2025
		S$				S$				US$
Revenue			1,754,439				1,936,539				1,507,856
Cost of revenue			(740,039	)			(571,893	)			(445,296	)
Gross profit			1,014,400				1,364,646				1,062,560
Selling and distribution expenses			(106,054	)			(109,739	)			(85,447	)
Research and development expenses			(84,350	)			-				-
General and administrative expenses			(1,090,100	)			(1,199,192	)			(933,836	)
Total operating expenses			(1,280,504	)			(1,308,931	)			(1,019,283	)
Profit / (loss) from operations			(266,104	)			55,715				43,277
Other income (expenses)
Other income			12,787				7,247				5,643
Interest expense			(16,315	)			(28,409	)			(22,120	)
Total other income (expenses)			(3,528	)			(21,162	)			(16,477	)
Income/ (Loss) before income tax			(269,632	)			34,533				26,800
Income tax expense			(84,286	)			(54,699	)			(42,591	)
Net loss			(353,918	)			(20,146	)			(15,791	)
Other comprehensive loss, net of tax
Currency translation differences arising from consolidation			(2,539	)			11,389				8,924
Net comprehensive loss			(356,457	)			(8,757	)			(6,867	)
Net loss per share attributable to ordinary shareholders
Basic and diluted			(0.0200	)			(0.0005	)			(0.0004	)
Weighted average number of ordinary shares used in computing net loss per share
Basic and diluted*			17,500,000				17,500,000				17,500,000

TECHCREATE GROUP LTD CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
		For the six months ended June 30,
		2024				2025				2025
		S$				S$				US$
Cash flows from operating activities
Net loss			(353,919	)			(20,146	)			(15,791	)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation			4,577				3,993				3,130
Operating lease expenses			9,617				20,976				16,441
Working capital loan interest			16,315				28,409				22,268
Changes in operating assets and liabilities
Deferred cost			161,345				225,490				176,744
Contract assets			44,050				79,703				62,473
Trade and other receivables			(240,353	)			165,804				129,960
Amount due from directors			-				-				-
Amount due from related parties			56,887				11,772				9,227
Contract liabilities			(598,163	)			(279,907	)			(219,397	)
Trade and other payables			(59,865	)			262,530				205,777
Lease liabilities			(68,032	)			(20,803	)			(16,306	)
Income tax payable			(75	)			(17	)			(13	)
Net cash generated from/ (used in) operating activities			(1,027,616	)			477,804				(374,512	)
Cash flow from investing activities:
Acquisition of property, plant and equipment			(2,473	)			(2,502	)			(1,961	)
Net cash used in investing activities			(2,473	)			(2,502	)			(1,961	)
Cash flows from financing activities:
Dividend paid to equity holders			-				-				-
Amount due to shareholders			8,666				(11,261	)			(8,827	)
Repayment of working capital loans			(30,482	)			(129,135	)			(101,219	)
Proceeds from working capital loans			850,000				-				-
Proceeds from issuance of shares			-				-				-
Deferred offering costs			-				(254,130	)			(199,193	)
Net cash (used in)/ generated from financing activities			828,185				(394,526	)			(309,239	)
Effects of changes in foreign exchange of cash			(382	)			19,264				15,100
Net (decrease)/ increase in cash and cash equivalents			(201,904	)			80,776				63,313
Cash and cash equivalents at beginning of financial year			997,845				1,205,951				945,251
Cash and cash equivalents at June 30, 2024			795,559				1,301,991				1,023,664
Supplemental cash flow information
Income taxes paid			(25,360	)			-				(18,826	)
Withholding taxes paid			(59,001	)			(54,441	)			-
Cash paid for interest			(16,315	)			(28,409	)			(22,268	)
Capital contribution subscription receivable from shareholder			4,900				4,900				3,841

 

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Investor Relations

John Yi and Steven Shinmachi

Gateway Group, Inc.

949-574-3860

TCGL@gateway-grp.com

Source: TechCreate Group Ltd.