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LGCB

Linkage Global Inc Ordinary Shares

LGCB

Linkage Global Inc Ordinary Shares • NASDAQ
$2.03 ▲ 0.50% (+0.01)
Market Cap $20.64 M
52w High $6.83
52w Low $1.22
Dividend Yield 0%
P/E -4.72
Volume 140.00K
Outstanding Shares 10.17M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $3.502M ▼ $4.314M ▲ $-3.087M ▼ -88.161% ▼ $-0.09 ▼ $-1.113M ▼
Q4-2024 $10.257M ▲ $4.232M ▲ $-433.275K ▼ -4.224% ▲ $-0.02 ▼ $241.672K ▲
Q2-2024 $32.38K ▼ $10.957K ▼ $-6.06K ▲ -18.715% ▲ $-0.001 ▲ $-6.154K ▲
Q4-2023 $3.702M ▼ $1.281M ▲ $-1.208M ▼ -32.619% ▼ $-0.06 ▼ $-1.353M ▼
Q2-2023 $9.031M $1.277M $554.827K 6.143% $0.026 $1.003M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $328.081K ▼ $19.585M ▲ $12.643M ▲ $6.942M ▼
Q4-2024 $2.001M ▲ $12.692M ▲ $5.667M ▲ $7.025M ▲
Q2-2024 $9.803K ▼ $95.157K ▼ $50.569K ▼ $6.748M ▲
Q4-2023 $1.107M ▼ $10.634M ▼ $7.137M ▲ $3.497M ▼
Q2-2023 $3.501M $11.125M $6.363M $4.762M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-3.087M ▼ $-1.739M ▲ $0 ▲ $-3.314K ▲ $-1.673M ▲ $0 ▲
Q4-2023 $-1.208M ▼ $-2.123M ▼ $-124.51K ▼ $-192.898K ▲ $-2.394M ▼ $-2.123M ▼
Q2-2023 $554.827K $-1.76M $1.951M $-205.489K $-14.826K $-1.773M

Five-Year Company Overview

Income Statement

Income Statement The income statement shows a business that is still very small and effectively at an early, transitional stage. Revenue has stayed tiny and largely flat over the past few years, suggesting the current financials do not yet reflect a scaled operating business. Reported profits and losses move around a bit but remain close to break-even in absolute terms, so any single year’s result can be heavily influenced by one-off items rather than underlying performance. Overall, the recent shift from small profits to small losses hints at rising costs as the company builds out its platform and services, without yet seeing a meaningful jump in sales. In short, the story today is about building capacity more than delivering mature, dependable earnings.

Balance Sheet

Balance Sheet The balance sheet is very light, with a small asset base and only a thin layer of equity. There is essentially no traditional debt reported, which reduces financial leverage risk but also highlights how modest the current scale is. The lack of visible cash on hand (likely a rounding effect in the data) and minimal total assets mean the company has a limited financial cushion to absorb setbacks. This kind of profile is typical of a young or newly listed service company coming out of a SPAC structure—more of a platform being built than a balance sheet-heavy business with large tangible resources.

Cash Flow

Cash Flow Cash flow figures are effectively flat and near zero across operating, investing, and free cash flow, which suggests that, so far, there is little established, recurring cash generation. This indicates that growth and ongoing operations are likely being supported by equity funding or other financing arrangements rather than by cash generated from customers. For a company in this stage, the key question is whether new services and contracts can eventually convert into steady, positive operating cash flow; at present, the reported cash flow profile does not yet show that turning point.

Competitive Edge

Competitive Edge Linkage Global positions itself as a one-stop, integrated service partner for cross-border e-commerce, especially between Japan, China, and global marketplaces. Its strengths lie in its experience since 2011, its network of thousands of suppliers, and relationships with sellers on platforms like Amazon, Rakuten, and TikTok. The introduction of fully managed e-commerce operation services—where the company runs much of the online store for clients—offers a higher-touch, higher-margin offering that could deepen customer reliance. The large digital advertising mandate tied to Google-focused campaigns also supports its credibility in online marketing. However, the market is crowded and fragmented, and LGCB’s moat rests more on execution, relationships, and service quality than on clearly differentiated, proprietary technology. That makes ongoing innovation and client retention critical to defending its position.

Innovation and R&D

Innovation and R&D Innovation at LGCB currently appears to be more about how services are bundled and delivered than about breakthrough technology. The integrated ERP-driven operating model, fully managed e-commerce services, and sophisticated digital marketing support are the core innovations in practice. Management has flagged plans to invest IPO proceeds into technology, including enhancements to internal systems and possibly new tools, though details remain limited. There has been talk of exploring blockchain-related solutions, but this remains speculative with no concrete product disclosed. Future R&D progress is likely to show up first in better automation of cross-border workflows, smarter data analytics for clients, and tools that help scale the fully managed service model into new regions like Southeast Asia.

Summary

Overall, LGCB looks like an early-stage, service-focused enabler of cross-border e-commerce whose strategic story is more developed than its current financials. The reported income statement and cash flows are still too small and immature to offer strong conclusions about long-term profitability or resilience, and the balance sheet offers only a modest buffer. The real interest lies in its integrated service approach, supplier and platform networks, and the traction of its fully managed e-commerce operations and digital advertising capabilities. Going forward, the key things to watch are whether the company can grow revenue meaningfully, maintain high service margins, generate consistent positive cash flow, and demonstrate clear technological or process advantages that can protect it in a competitive and fast-moving market.

NEWS

November 26, 2025 · 8:00 PM UTC

Linkage Global Inc. Announces $1 Million Private Placement Financing to Support Strategic Growth and Operational Expansion

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