Treasure Global

TGL

Software - Application · Technology

Exchange

NASDAQ Capital Market

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Weak

Growth

Good

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Winston Score History

The full picture

Treasure Global Inc. is a small technology company based in Malaysia that provides digital commerce and software solutions. Its core products include a mobile app platform that connects merchants with consumers, helping small businesses manage sales, loyalty programs, and payments. The company primarily serves retail merchants and everyday shoppers in Southeast Asia.

Treasure Global earns revenue by charging merchants fees to use its platform and software services. It operates mainly in Malaysia and is a very small company, with a market cap near zero, meaning it is considered a micro-cap or nano-cap stock. The company has no meaningful competitive moat at this stage — its operating margin of nearly negative 800% shows it spends far more than it earns, which is a serious financial risk. The biggest challenge facing Treasure Global is achieving enough merchant and user adoption to generate sustainable revenue before it runs out of funding.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+125.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-227.6% YoY

YoY Growth Rate

Earnings declining

Insider Activity

6.8%ownership

Insiders own a meaningful stake in the company

Cash Runway

~17 months

$3M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Adequate runway but may need to raise capital within 2 years

Revenue accelerating

Treasure Global grew revenue 125% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

0.4%

Thin — 0.4% gross margin

Profit after running costs

Operating Margin

-278.9%

Losing money on operations — -278.9%

Return on the money invested

ROCE

-198.0%

Weak — -198.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+166.8%

Fast-growing sales (+166.8% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-257.9%

Burning cash (-257.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.00

Conservative — low debt load (0.00)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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