SOCIETY PASS INCORPORATED.
thesocietypass.comWhat Do They Do?
Creates digital advertising campaigns for brands and runs travel-booking and lifestyle platforms for travelers and consumers.
10-K for FY2024, filed Apr 16, 2025The acquisition of a digital media platform, TMG, amplifies the reach and engagement of the Company’s e-commerce ecosystem and retail…View ↗
The Company purchased the Nusatrip Group, a leading Jakarta-based Online Travel Agency (“OTA”) in Indonesia and across SEA. The Nusatrip…View ↗
The Group operates an online lifestyle business in Vietnam to enable the consumers to purchase high-end brands of all categories under its…View ↗
How Do They Make Money?
Brands pay for custom campaigns as services are delivered; social-media platforms pay for published advertising content after the service is completed. Travel booking earns commissions and margins when tickets are issued, while hotel software brings in subscription fees over the contract term.
10-K for FY2024, filed Apr 16, 2025The Company derives its revenue from the provision of digital marketing services to customers. The Company offers customers with a…View ↗
Campaign-based marketing services revenue is recognized as a distinct single performance obligation when the Company transfers services to…View ↗
The Company also derives its advertising revenue generated from its channel pages and posts on social media platforms, such as YouTube by…View ↗
The Company receives spread margin from B2B and B2C customers and commissions from travel suppliers for ticketing reservations through the…View ↗
Subscription fee from hotel technology platform software services rendered are recognized ratably over the fixed term of the agreement as…View ↗
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10-K for FY2024, filed Apr 16, 2025
FY2024 revenue by product or service ↗
$7.1M
-
10-K for FY2024, filed Apr 16, 2025
$7.1M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Sales – online ordering
Sold outright
|
0.5%
FY2021: 93%
|
Sales – online ordering, FY2024
$34.8K Sources
|
Sold outright |
|
Sales – digital marketing
Sold outright
10-K for FY2024, filed Apr 16, 2025 |
87% |
Sales – digital marketing, FY2024
$6.2M Sources
|
Sold outright |
|
Cost of online ticketing and reservation
Sold outright
10-K for FY2024, filed Apr 16, 2025 |
12% |
Cost of online ticketing and reservation, FY2024
$885K Sources
|
Sold outright |
|
Sales – data
Sold outright
|
0.1% |
Sales – data, FY2024
$4.9K Sources
|
Sold outright |
|
Software sales
Recurring
|
0.1%
FY2021: 7.2%
|
Software sales, FY2024
$6.8K Sources
|
Recurring |
Who Are Their Customers?
Advertisers buy digital-marketing services; consumers order lifestyle products through Leflair, and corporate and retail travelers book through NusaTrip. Merchants connect with consumers through the company’s online platforms.
10-K for FY2024, filed Apr 16, 2025The Company derives its revenue from the provision of digital marketing services to customers. The Company offers customers with a…View ↗
The Company has developed an online lifestyle platform (the “Lifestyle Platform”) under its own brand name of “Leflair” to enable consumers…View ↗
The Company purchased the NusaTrip Group, a leading Jakarta-based Online Travel Agency (“OTA”) in Indonesia and across SEA. The NusaTrip…View ↗
The Company’s performance obligations include providing connectivity between merchants and consumers, generally through an online ordering…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $10.2M in FY2024, but brought in more cash than it spent: $2.4M of free cash flow.
10-K for FY2024, filed Apr 16, 2025
−$9.3MView ↗
10-K for FY2024, filed Apr 16, 2025
−$10.2MView ↗
10-K for FY2024, filed Apr 16, 2025
$2.4MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q3 FY2025, filed Nov 14, 2025
−$5.1MView ↗
- ▲ +272% (Loss)
- vs −$1.4M in Q3 FY2024
10-Q for Q3 FY2025, filed Nov 14, 2025
Open tableView ↗
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Jun 8, 2026
The independent accounting firm resigned
AOGB resigned immediately; it had not issued an audit opinion on the company's 2025 financial statements.
Sources
8-K, filed Jun 8, 2026
AOGB was previously engaged by the Company to audit the Company’s consolidated financial statements for the year ended December 31, 2025.…View ↗
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May 20, 2026
Nasdaq decided to delist the company's common stock
The decision followed the company's Chapter 11 filing; trading was set to be suspended.
Sources
8-K, filed May 20, 2026
As previously reported, on May 12, 2026 (the “Petition Date”), Society Pass Incorporated, a Nevada corporation (the “Company”) and SoPa…View ↗
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May 14, 2026
Society Pass and a subsidiary filed for Chapter 11
NusaTrip and Thoughtful Media were not debtors in the cases.
Sources
8-K, filed May 14, 2026
On May 12, 2026 (the “Petition Date”), Society Pass Incorporated, a Nevada corporation (the “Company”) and SoPa, Inc., a wholly-owned…View ↗
Growing. Revenue grew 135.5x in 4 years, from $52.5K in FY2020 to $7.1M in FY2024, about 241% a year.
Travel and digital media
The older report described travel and digital media as areas for possible expansion; the latest describes both as operating verticals, including travel booking and digital advertising services.
10-K for FY2021, filed Mar 30, 2022 10-K for FY2024, filed Apr 16, 2025Our business currently comprises of the following four verticals: lifestyle, food and beverage (“F&B”) delivery, merchant software and…View ↗
We operate certain verticals in SEA: loyalty, lifestyle, telecommunications, digital media, and travel as we try to create the next…View ↗
The acquisition of a digital media platform, TMG, amplifies the reach and engagement of the Company’s e-commerce ecosystem and retail…View ↗
The Company purchased the Nusatrip Group, a leading Jakarta-based Online Travel Agency (“OTA”) in Indonesia and across SEA. The Nusatrip…View ↗
Food delivery winds down
The older report described Pushkart and Handycart as food-delivery platforms; the latest says the grocery and food-delivery business has been progressively ceasing, with some activities continuing.
10-K for FY2021, filed Mar 30, 2022 10-K for FY2024, filed Apr 16, 2025Our business currently comprises of the following four verticals: lifestyle, food and beverage (“F&B”) delivery, merchant software and…View ↗
Other online platforms include online platforms in Vietnam, under the brand name of “Handycart”, and Philippines, under the brand names of…View ↗
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