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GLXG

Galaxy Payroll Group Limited

GLXG

Galaxy Payroll Group Limited • NASDAQ
$2.82 ▲ 1.39% (+0.04)
Market Cap $5.08 M
52w High $21.60
52w Low $2.50
Dividend Yield 0%
P/E -0.14
Volume 252
Outstanding Shares 1.80M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $883.553K ▲ $213.981K ▼ $-129.662K ▲ -14.675% ▲ $-0.076 ▲ $-124.1K ▲
Q1-2025 $882.761K ▼ $832.521K ▲ $-504.467K ▼ -57.146% ▼ $-0.29 ▼ $-511.393K ▼
Q4-2024 $966.991K ▲ $276.56K ▲ $55.374K ▼ 5.726% ▼ $0.035 ▼ $84.685K ▼
Q3-2024 $964.957K ▲ $275.978K ▼ $215.969K ▲ 22.381% ▲ $0.13 ▲ $283.54K ▲
Q2-2024 $961.923K $309.244K $34.798K 3.618% $0.02 $46.632K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $539.893K ▼ $965.53K ▼ $189.196K ▼ $776.333K ▼
Q1-2025 $32.577M ▲ $58.259M ▲ $11.416M ▼ $46.843M ▲
Q4-2024 $10.855M $26.586M $20.111M $6.475M
Q3-2024 $10.855M ▲ $26.586M ▲ $20.111M ▲ $6.475M ▲
Q2-2024 $7.42M $21.637M $18.547M $3.089M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $55.374K ▲ $70.524K ▲ $0 ▲ $-34.081K ▲ $37.25K ▲ $70.52K ▲
Q2-2024 $34.798K ▼ $39.632K ▼ $-973 ▼ $-183.539K ▼ $-143.331K ▼ $38.66K ▼
Q4-2023 $90.658K ▲ $130.12K ▼ $-190.111 ▲ $-48.551K ▲ $0 $129.929K ▼
Q2-2023 $56.057K $131.757K $-221.82 $-156.474K $0 $131.54K

Five-Year Company Overview

Income Statement

Income Statement Galaxy Payroll operates on a very small revenue base, but it has been consistently profitable over the past few years. Sales have been fairly steady rather than rapidly growing, which suggests a business that is still niche and focused rather than scaled up. Profit levels have held up well relative to the size of the business, indicating decent cost control and a clear service model. Earnings per share have bounced around a lot, which likely reflects changes in share count and capital structure around the IPO and stock split rather than big swings in the underlying business. Overall, this looks like a small but economically viable operation, with the key question being whether it can convert its stable foundation into meaningful growth.

Balance Sheet

Balance Sheet The balance sheet is light and simple. The company runs with relatively modest assets and a small equity base, consistent with a service and software-focused model that does not require heavy physical investment. Cash balances have been generally healthy for a company of this size, and financial debt is minimal to nonexistent in recent years, which reduces balance sheet risk. This lean structure gives flexibility but also highlights that the company is still quite small in scale, so shocks to the business or client losses could matter more than for a larger, more diversified firm.

Cash Flow

Cash Flow Cash flow from operations has been consistently positive, which is a strong point for a young, small company. Free cash flow has broadly tracked operating cash flow because capital spending needs have been very low; the business model does not require large ongoing investment in physical assets. This means that most cash generated can, in principle, be used for technology spending, geographic expansion, or strengthening the balance sheet. However, the absolute level of cash generation is still modest, so funding more ambitious growth will likely depend on how efficiently the company deploys its IPO proceeds and manages future costs.

Competitive Edge

Competitive Edge Galaxy Payroll’s competitive position is built around deep knowledge of payroll and employment rules across the Asia-Pacific region, combined with a one-stop service model. Its offerings span payroll outsourcing, Employer of Record services, tax and accounting support, and corporate secretarial work, which is attractive to multinational clients that want a single regional partner rather than many local vendors. Longstanding client relationships and a reputation for reliability help support recurring revenue. On the flip side, the company is heavily focused on Asia and appears to rely meaningfully on a limited number of key customers, which raises concentration risk. The staffing and HR services space is also competitive, with global players and local specialists, so continued differentiation through technology, service quality, and regional expertise will be critical.

Innovation and R&D

Innovation and R&D Innovation efforts center on the company’s own HR software platform and a series of technology partnerships. The HR system integrates payroll, performance tracking, and compliance monitoring, and is designed to be highly customizable for different client needs. Partnerships with HR tech firms and an AI solutions provider suggest a clear push toward more automated, data-driven HR and payroll tools, which could deepen the company’s value proposition if executed well. At the same time, delays in launching a new software product highlight execution risk: the strategy is ambitious relative to the company’s size, and the market will likely judge it on whether new tools roll out on time, work reliably, and are adopted by clients. Overall, the direction is forward-looking, but the benefits are still partly prospective rather than fully proven.

Summary

Galaxy Payroll is a small, newly listed HR and payroll services company with consistent profitability, clean finances, and positive cash generation, all on a modest scale. Its strength lies in specialized knowledge of the Asia-Pacific market, integrated HR solutions, and a growing technology ecosystem around its core software platform. The balance sheet is light and largely unlevered, and the business does not require heavy capital spending, which reduces financial strain. Key opportunities include expanding into more APAC markets, deepening AI and software capabilities, and broadening the client base to reduce dependence on a few customers. The main risks are its small size, customer and geographic concentration, and the need to successfully execute on software rollouts and tech partnerships. Over time, the story will hinge less on past stability and more on whether the company can scale its niche strengths into broader, durable growth.