TROO
TROO
TROOPS, Inc.Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q2-2025 | $7.62M ▲ | $2.36M ▼ | $-966K ▲ | -12.68% ▲ | $-0.01 ▲ | $-1.1M ▲ |
| Q4-2024 | $7.46M ▲ | $5.49M ▲ | $-12.06M ▼ | -161.54% ▼ | $-0.12 ▼ | $-10.75M ▼ |
| Q2-2024 | $2.61M ▲ | $2.18M ▲ | $-1.36M ▼ | -51.97% ▼ | $-0.01 ▼ | $-427K ▼ |
| Q4-2023 | $1.74M ▼ | $1.16M ▼ | $-681K ▲ | -39.25% ▲ | $-0.01 ▲ | $278.5K ▲ |
| Q2-2023 | $1.83M | $1.47M | $-1.04M | -56.6% | $-0.01 | $-74K |
What's going well?
The company cut its losses dramatically this quarter, with both net and operating losses much smaller than before. Revenue is steady and there were no big one-time charges.
What's concerning?
Gross margins are shrinking, and overhead costs are rising faster than sales. The business is still losing money and share dilution is hurting existing shareholders.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q2-2025 | $5.23M ▲ | $88.39M ▲ | $8.46M ▼ | $79.92M ▲ |
| Q4-2024 | $5.17M ▲ | $79.19M ▼ | $10.94M ▼ | $68.25M ▲ |
| Q2-2024 | $1.5M ▼ | $83.59M ▲ | $24.37M ▲ | $59.22M ▼ |
| Q4-2023 | $3.11M ▼ | $70.34M ▼ | $9.77M ▲ | $60.58M ▼ |
| Q2-2023 | $3.16M | $70.56M | $9.4M | $61.16M |
What's financially strong about this company?
TROO has almost no debt, lots of cash and receivables, and a large base of physical assets. The company can easily cover its bills and has increased its equity position this quarter.
What are the financial risks or weaknesses?
Retained earnings are deeply negative, showing a history of losses. Receivables are rising faster than before, which could mean customers are taking longer to pay.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2024 | $-12.06M ▼ | $0 | $0 | $0 | $0 | $0 |
| Q2-2024 | $-1.36M ▼ | $0 | $0 | $0 | $0 | $0 |
| Q4-2023 | $-681K ▲ | $0 | $0 | $0 | $0 | $0 |
| Q2-2023 | $-1.04M ▼ | $0 | $0 | $0 | $0 ▼ | $0 |
| Q4-2022 | $831K | $0 | $0 | $0 | $424K | $0 |
5-Year Trend Analysis
A comprehensive look at TROOPS, Inc.'s financial evolution and strategic trajectory over the past five years.
TROO’s main strengths lie in its cleaner balance sheet and recent operational improvements. It has dramatically reduced debt, holds more cash than it owes, and maintains healthy liquidity, giving it room to absorb shocks. Gross margins have improved from negative to solidly positive, and the most recent year shows a welcome rebound in revenue, operating cash flow, and free cash flow. These factors together suggest that, despite ongoing losses, the company is not under immediate financial distress and has some flexibility to pursue its strategy.
The key risks are centered on profitability, sustainability, and strategic clarity. TROO has never established consistent profits, continues to accumulate losses, and saw its bottom‑line results worsen again even as revenue surged. Operating costs, especially overhead, remain high and rising, undermining the benefits of better sales and gross margins. The large build‑up of goodwill and intangibles from a recent acquisition raises integration and asset‑quality questions. On top of this, the lack of visible R&D and limited public information about the business model and product strategy add uncertainty about its long‑term viability in a competitive software market.
Looking ahead, TROO appears to be in a transition phase. The recent acquisition and revenue growth indicate an attempt to reshape or scale the business, but it is too early to judge whether this will translate into durable profits and stable cash generation. The strong balance sheet buys time, yet the company still needs to prove that it can control costs, extract value from acquired assets, and carve out a defensible niche. Until there is clearer evidence of consistent earnings and a visible, innovation‑driven strategy, the outlook remains uncertain and heavily dependent on successful execution of its recent strategic moves.
About TROOPS, Inc.
https://www.troops.coTROOPS, Inc., together with its subsidiaries, engages in the money lending business in Hong Kong and Australia. The company provides mortgage, personal, and corporate loans.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q2-2025 | $7.62M ▲ | $2.36M ▼ | $-966K ▲ | -12.68% ▲ | $-0.01 ▲ | $-1.1M ▲ |
| Q4-2024 | $7.46M ▲ | $5.49M ▲ | $-12.06M ▼ | -161.54% ▼ | $-0.12 ▼ | $-10.75M ▼ |
| Q2-2024 | $2.61M ▲ | $2.18M ▲ | $-1.36M ▼ | -51.97% ▼ | $-0.01 ▼ | $-427K ▼ |
| Q4-2023 | $1.74M ▼ | $1.16M ▼ | $-681K ▲ | -39.25% ▲ | $-0.01 ▲ | $278.5K ▲ |
| Q2-2023 | $1.83M | $1.47M | $-1.04M | -56.6% | $-0.01 | $-74K |
What's going well?
The company cut its losses dramatically this quarter, with both net and operating losses much smaller than before. Revenue is steady and there were no big one-time charges.
What's concerning?
Gross margins are shrinking, and overhead costs are rising faster than sales. The business is still losing money and share dilution is hurting existing shareholders.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q2-2025 | $5.23M ▲ | $88.39M ▲ | $8.46M ▼ | $79.92M ▲ |
| Q4-2024 | $5.17M ▲ | $79.19M ▼ | $10.94M ▼ | $68.25M ▲ |
| Q2-2024 | $1.5M ▼ | $83.59M ▲ | $24.37M ▲ | $59.22M ▼ |
| Q4-2023 | $3.11M ▼ | $70.34M ▼ | $9.77M ▲ | $60.58M ▼ |
| Q2-2023 | $3.16M | $70.56M | $9.4M | $61.16M |
What's financially strong about this company?
TROO has almost no debt, lots of cash and receivables, and a large base of physical assets. The company can easily cover its bills and has increased its equity position this quarter.
What are the financial risks or weaknesses?
Retained earnings are deeply negative, showing a history of losses. Receivables are rising faster than before, which could mean customers are taking longer to pay.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2024 | $-12.06M ▼ | $0 | $0 | $0 | $0 | $0 |
| Q2-2024 | $-1.36M ▼ | $0 | $0 | $0 | $0 | $0 |
| Q4-2023 | $-681K ▲ | $0 | $0 | $0 | $0 | $0 |
| Q2-2023 | $-1.04M ▼ | $0 | $0 | $0 | $0 ▼ | $0 |
| Q4-2022 | $831K | $0 | $0 | $0 | $424K | $0 |
5-Year Trend Analysis
A comprehensive look at TROOPS, Inc.'s financial evolution and strategic trajectory over the past five years.
TROO’s main strengths lie in its cleaner balance sheet and recent operational improvements. It has dramatically reduced debt, holds more cash than it owes, and maintains healthy liquidity, giving it room to absorb shocks. Gross margins have improved from negative to solidly positive, and the most recent year shows a welcome rebound in revenue, operating cash flow, and free cash flow. These factors together suggest that, despite ongoing losses, the company is not under immediate financial distress and has some flexibility to pursue its strategy.
The key risks are centered on profitability, sustainability, and strategic clarity. TROO has never established consistent profits, continues to accumulate losses, and saw its bottom‑line results worsen again even as revenue surged. Operating costs, especially overhead, remain high and rising, undermining the benefits of better sales and gross margins. The large build‑up of goodwill and intangibles from a recent acquisition raises integration and asset‑quality questions. On top of this, the lack of visible R&D and limited public information about the business model and product strategy add uncertainty about its long‑term viability in a competitive software market.
Looking ahead, TROO appears to be in a transition phase. The recent acquisition and revenue growth indicate an attempt to reshape or scale the business, but it is too early to judge whether this will translate into durable profits and stable cash generation. The strong balance sheet buys time, yet the company still needs to prove that it can control costs, extract value from acquired assets, and carve out a defensible niche. Until there is clearer evidence of consistent earnings and a visible, innovation‑driven strategy, the outlook remains uncertain and heavily dependent on successful execution of its recent strategic moves.

CEO
Damian Thurnheer
Compensation Summary
(Year )
Split Record
| Date | Type | Ratio |
|---|---|---|
| 2016-01-25 | Reverse | 1:4 |
Ratings Snapshot
Rating : C+
Price Target
Institutional Ownership
GEODE CAPITAL MANAGEMENT, LLC
Shares:59.28K
Value:$180.8K
XTX TOPCO LTD
Shares:36.66K
Value:$111.8K
GOLDMAN SACHS GROUP INC
Shares:22.61K
Value:$68.97K
Summary
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