TechCreate Group Ltd. Reports Fiscal Year 2025 Financial and Operational Results
SINGAPORE–(BUSINESS WIRE)–TechCreate Group Ltd. (NYSE American: TCGL) (“TechCreate” or the “Company”), a technology consultancy and advanced software solutions provider specializing in payment solutions, cybersecurity, and digital services, announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission (the “SEC”) on April 29, 2026.
The annual report on Form 20-F can be accessed on the SEC’s website at www.sec.gov and on the Company’s investor relations website at https://investor.techcreategroup.com/.
The Company will provide a hard copy of its annual report, including its complete audited consolidated financial statements, free of charge to its shareholders upon request.
Recent Operational Highlights
- Announced intent to collaborate on one of the first quantum-safe QR hybrid POS terminal with pQCee Pte Ltd
- Appointed Sibil Thomas as Financial Controller and Chief Accounting Officer
- Rang the Opening Bell on the New York Stock Exchange
- Completed successful initial public offering (“IPO”) and sale of option shares in October 2025, raising gross proceeds of $11.73 million, prior to deducting underwriting discounts and other offering expenses. TechCreate’s Class A Ordinary Shares began trading on the NYSE American on October 2025 under the ticker symbol “TCGL”
Fiscal Year 2025 Financial Results
Total Revenues increased 54% to S$4.8 million (US $3.7 million) for the fiscal year ended December 31, 2025 compared to S$3.1 million in the same period last year. The increase was primarily due to an increase in Provision of Professional Services attributable to the addition of new clients and increased activity under newly secured contracts, and an increase in Sale of Hardware Solutions stemming from the deployment of dedicated key personnel under the hardware solutions offering resulting in greater volume of completed deliverables and higher revenue recognized, offset by a decrease in Sale of Software Licenses and Maintenance Licenses and Provision of Hosting and Supporting Service revenue.
Cost of Revenue increased to S$3.0 million (US $2.3 million) for the fiscal year ended December 31, 2025 compared to S$2.2 million in the same period last year. The increase was primarily due to higher contractor service fees and higher costs associated with third-party hardware solutions, reflecting increased activity in this segment and in line with the growth in revenue during the year.
Gross Profit Margins increased to 37% for the fiscal year ended December 31, 2025 compared to 29% in the same period last year. The increase was primarily due to higher revenue during the year relative to cost of revenue, driven by increased revenue from professional services and hardware solutions, partially offset by increased contractor service fees and costs associated with third-party hardware solutions.
Total Operating Expenses increased to S$2.7 million (US $2.1 million) for the fiscal year ended December 31, 2025 compared to S$1.8 million in the same period last year. The increase was primarily due to an increase in general and administrative expenses offset by a decrease in selling and distribution expenses.
Net Loss was approximately S$1.1 million (US $0.8 million) for the fiscal year ended December 31, 2025 compared to a loss of S$1.0 million in the same period last year.
As of December 31, 2025, cash and cash equivalents were approximately S$7.4 million (US $5.7 million).
Management Commentary
TechCreate CEO Heng Hai Lim commented: “We recognize that the temporary trading halt of our shares remains top of mind for many of our shareholders. At this moment, we are continuing to work with the appropriate regulatory authorities to address and resolve this matter as soon as possible. During this period of regulatory review, we are confined and limited to what we can share regarding the investigation, including specific timing or progress updates. That said, we are working diligently to help bring this matter to a resolution. To the extent we are able to, we intend to provide additional information through the appropriate Regulation Fair Disclosure channels once the halt is lifted. Transparency remains a core component of TechCreate, and we will continue to share updates with our shareholders to the extent we are permitted to do so.
“In the meantime, we remain focused on operating business as usual. For the year, we delivered encouraging top-line growth, driven by strong client growth in our professional services business and renewed momentum in our hardware solutions offerings and capabilities. Provision of professional services and sale of hardware solutions revenue grew 106% and 100% year-over-year, respectively. More recently, we announced a collaboration with pQCee to explore incorporating a NIST-approved post-quantum cryptography algorithm into our QR Hybrid POS Terminal. As quantum-safe security becomes increasingly important to digital payments infrastructure, we aim to be early in demonstrating how post-quantum encryption can be integrated into real-time payment systems such as ours.
“Looking ahead into the rest of 2026, we remain focus on creating Innovative solutions through our Research and Development efforts in areas like Post Quantum Computing, Atomic Delivery versus Payment Use Case and the adoption of AI in both our development processes and our core Real-Time Engine Product Offerings. In addition, the Company is actively expanding our Sales and Marketing capabilities to build our sales channels and market reach.”
About TechCreate Group Ltd.
TechCreate Group Ltd. is a Singapore-based payment software solutions provider. Founded in 2015, the Company delivers digital payment and infrastructure solutions to financial institutions, telecommunications, deposit insurance, and enterprises. TechCreate’s offerings include real-time payment systems, digital banking platforms, API management, cybersecurity, and cloud computing. Its proprietary Artificial Intelligence Real-Time Engine (AI-RTE) is designed to enable fast, secure, and efficient payment processing. For more information, visit https://www.techcreate.com.sg/.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and TechCreate Group Ltd. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
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TECHCREATE GROUP LTD. |
||||||||||||
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CONSOLIDATED BALANCE SHEETS |
||||||||||||
|
As of December 31, |
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|
2024 |
2025 |
2025 |
||||||||||
|
S$ |
S$ |
US$ |
||||||||||
|
ASSETS |
|
|
|
|
|
|
|
|
|
|||
|
Current Assets |
|
|
|
|
|
|
|
|
|
|||
|
Deferred Cost |
|
|
576,562 |
|
|
|
76,237 |
|
|
|
59,287 |
|
|
Contract Assets |
|
|
145,383 |
|
|
|
– |
|
|
|
– |
|
|
Accounts and Other Receivable, net |
|
|
276,734 |
|
|
|
4,442,220 |
|
|
|
3,454,561 |
|
|
Amount Due from Shareholders |
|
|
4,900 |
|
|
|
4,903 |
|
|
|
3,813 |
|
|
Amount Due from Related Party |
|
|
11,772 |
|
|
|
– |
|
|
|
– |
|
|
Cash and Cash Equivalents |
|
|
1,205,951 |
|
|
|
7,370,340 |
|
|
|
5,731,659 |
|
|
Deferred Offering Costs |
|
|
457,718 |
|
|
|
– |
|
|
|
– |
|
|
Total Current Assets |
|
|
2,679,020 |
|
|
|
11,893,700 |
|
|
|
9,249,320 |
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
Non-Current Assets |
|
|
|
|
|
|
|
|
|
|||
|
Property, Plant and Equipment, net |
|
|
7,929 |
|
|
|
5,968 |
|
|
|
4,641 |
|
|
Right-of-Use Assets – Operating Leases |
|
|
83,288 |
|
|
|
42,688 |
|
|
|
33,197 |
|
|
Deferred Cost |
|
|
57,400 |
|
|
|
– |
|
|
|
– |
|
|
Total Non-Current Assets |
|
148,617 |
|
|
48,656 |
|
|
37,838 |
|
|||
|
TOTAL ASSETS |
|
|
2,827,637 |
|
|
|
11,942,356 |
|
|
|
9,287,158 |
|
|
Commitments and Contingencies** |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
|||
|
Current Liabilities |
||||||||||||
|
Contract Liabilities |
|
|
981,651 |
|
|
|
94,307 |
|
|
|
73,339 |
|
|
Account and Other Payables |
|
|
100,653 |
|
|
|
425,500.00 |
|
|
|
330,897.00 |
|
|
Amount Due to Directors |
|
|
14,907 |
|
|
|
– |
|
|
|
– |
|
|
Operating Lease Liability |
|
|
39815 |
|
|
|
31171 |
|
|
|
24,241 |
|
|
Income Tax Payables |
|
|
277 |
|
|
|
7,475 |
|
|
|
5,813 |
|
|
Working Capital Loans |
|
151,714 |
|
|
62,370 |
|
|
48,503 |
|
|||
|
Total Current Liabilities |
|
|
1,289,017 |
|
|
|
620,823 |
|
|
|
482,793 |
|
|
Non-Current Liabilities: |
|
|
|
|
|
|
|
|
|
|||
|
Operating Lease Liability |
|
|
47,233 |
|
|
|
14,616.00 |
|
|
|
11,366.36 |
|
|
Contract Liabilities |
|
|
8,247 |
|
|
|
0 |
|
|
|
0 |
|
|
Working Capital Loans |
|
608,416 |
|
|
191,039 |
|
|
148,564 |
|
|||
|
Total Non-Current Liabilities |
|
|
663,896 |
|
|
|
205,655 |
|
|
|
159,931 |
|
|
TOTAL LIABILITIES |
|
1,952,913 |
|
|
826,478 |
|
|
642,724 |
|
|||
|
|
|
|
|
|
|
|
|
|
|
|||
|
SHAREHOLDERS’ EQUITY |
||||||||||||
|
Class A Ordinary Shares, US$0.0002 par value, 225,000,000 shares authorized, 14,927,250 and 17,859,750 shares issued and outstanding as of December 31, 2024 and 2025 respectively.* |
|
|
– |
|
|
|
4,587 |
|
|
|
3,567 |
|
|
Class B Ordinary Shares, US$0.0002 par value, 25,000,000 shares authorized, 2,572,750 share issued and outstanding as of December 31, 2024 and 2025 respectively.* |
– |
|
661 |
|
514 |
|
||||||
|
Additional Paid-in Capital |
|
|
1,351,540 |
|
|
|
12,624,119 |
|
|
|
9,817,341 |
|
|
Accumulated Other Comprehensive Loss/(income) |
(7,875 |
) |
26,363 |
|
20,502 |
|
||||||
|
Retained Earnings/ (Accumulated Losses) |
|
|
(468,941 |
) |
|
|
(1,539,852 |
) |
|
|
(1,197,490 |
) |
|
Total Shareholders’ Equity |
|
874,724 |
|
|
11,115,878 |
|
|
8,644,434 |
|
|||
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
2,827,637 |
|
|
|
11,942,356 |
|
|
|
9,287,158 |
|
|
TECHCREATE GROUP LTD. |
||||||||||||||||
|
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS |
||||||||||||||||
|
For the years ended December 31, |
||||||||||||||||
|
2023 |
2024 |
2025 |
2025 |
|||||||||||||
|
Reclassification** |
|
|
|
|
|
|
||||||||||
|
S$ |
S$ |
S$ |
US$ |
|||||||||||||
|
Revenue |
|
2,879,645 |
|
|
|
3,104,324 |
|
|
|
4,772,866 |
|
|
|
3,711,693 |
|
|
|
Cost of revenue |
|
(1,460,778 |
) |
|
|
(2,210,508 |
) |
|
|
(3,019,959 |
) |
|
|
(2,348,518 |
) |
|
|
Gross profit |
|
1,418,867 |
|
|
|
893,816 |
|
|
|
1,752,907 |
|
|
|
1,363,175 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Selling and distribution expenses |
|
(704,128 |
) |
|
|
(786,428 |
) |
|
|
(499,694 |
) |
|
|
(388,595 |
) |
|
|
Research and development expenses |
|
(7,000 |
) |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
General and administrative expenses |
|
(754,802 |
) |
|
|
(976,411 |
) |
|
|
(2,237,593 |
) |
|
|
(1,740,099 |
) |
|
|
Total operating expenses |
|
(1,465,930 |
) |
|
|
(1,762,839 |
) |
|
|
(2,737,287 |
) |
|
|
(2,128,694 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Loss from operations |
|
(47,063 |
) |
|
|
(869,023 |
) |
|
|
(984,380 |
) |
|
|
(765,519 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Other income (expenses) |
||||||||||||||||
|
Other income, net |
|
52,375 |
|
|
|
30,828 |
|
|
|
27,571 |
|
|
|
21,441 |
|
|
|
Interest expense |
|
– |
|
|
(41,952 |
) |
|
(52,061 |
) |
|
(40,486 |
) |
||||
|
Total other income (expenses) |
|
52,375 |
|
|
|
(11,124 |
) |
|
|
(24,490 |
) |
|
|
(19,045 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Income/ (Loss) before income tax |
|
5,312 |
|
|
|
(880,147 |
) |
|
|
(1,008,870 |
) |
|
|
(784,564 |
) |
|
|
Income tax expense |
|
(200,107 |
) |
|
|
(132,679 |
) |
|
|
(62,041 |
) |
|
|
(48,247 |
) |
|
|
Net loss |
|
(194,795 |
) |
|
|
(1,012,826 |
) |
|
|
(1,070,911 |
) |
|
|
(832,811 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Other comprehensive loss, net of tax |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Currency translation differences arising from consolidation |
|
6,421 |
|
|
|
(5,717 |
) |
|
|
34,238 |
|
|
|
26,626 |
|
|
|
Net comprehensive loss |
|
(188,374 |
) |
|
|
(1,018,543 |
) |
|
|
(1,036,673 |
) |
|
|
(806,185 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Net loss per share attributable to ordinary shareholders |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Basic and diluted |
|
(0.01 |
) |
|
|
(0.06 |
) |
|
|
(0.06 |
) |
|
|
(0.05 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Weighted average number of ordinary shares used in computing net loss per share |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Basic and diluted* |
|
17,500,000 |
|
|
|
17,500,000 |
|
|
|
18,110,952 |
|
|
|
18,110,952 |
|
|
|
TECHCREATE GROUP LTD. |
||||||||||||||||
|
CONSOLIDATED STATEMENTS OF CASH FLOWS |
||||||||||||||||
|
For the years ended December 31, |
||||||||||||||||
|
2023 |
2024 |
2025 |
2025 |
|||||||||||||
|
S$ |
S$ |
S$ |
US$ |
|||||||||||||
|
Cash flows from operating activities |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Net loss |
|
(194,795 |
) |
|
|
(1,012,826 |
) |
|
|
(1,070,911 |
) |
|
|
(832,810 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Adjustments to reconcile net loss to net cash provided by operating activities |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Depreciation |
|
7,450 |
|
|
|
8,933 |
|
|
|
7,813 |
|
|
|
6,076 |
|
|
|
Operating lease expenses |
|
27,711 |
|
|
|
40,408 |
|
|
|
42,256 |
|
|
|
32,861 |
|
|
|
Working capital loan interest |
|
– |
|
|
|
41,952 |
|
|
|
52,060 |
|
|
|
40,485 |
|
|
|
Changes in operating assets and liabilities |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Deferred cost |
|
(80,766 |
) |
|
|
437,106 |
|
|
|
435,325 |
|
|
|
338,537 |
|
|
|
Contract assets |
|
188,760 |
|
|
|
(69,226 |
) |
|
|
350,465 |
|
|
|
272,545 |
|
|
|
Trade and other receivables |
|
58,179 |
|
|
|
(146,179 |
) |
|
|
(4,237,718 |
) |
|
|
(3,295,527 |
) |
|
|
Amount due from directors |
|
176,685 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
Amount due from related parties |
|
(41,479 |
) |
|
|
45,115 |
|
|
|
20,010 |
|
|
|
15,561 |
|
|
|
Contract liabilities |
|
(13,939 |
) |
|
|
(553,690 |
) |
|
|
(978,920 |
) |
|
|
(761,272 |
) |
|
|
Trade and other payables |
|
55,098 |
|
|
|
(9,970 |
) |
|
|
331,216 |
|
|
|
257,575 |
|
|
|
Lease liabilities |
|
(26,231 |
) |
|
|
(40,856 |
) |
|
|
(42,794 |
) |
|
|
(33,279 |
) |
|
|
Share based compensation |
|
– |
|
|
|
– |
|
|
|
55,270 |
|
|
|
42,982 |
|
|
|
Income tax payable |
|
(15,431 |
) |
|
|
(27,131 |
) |
|
|
7,332 |
|
|
|
5,702 |
|
|
|
Net cash generated from/ (used in) operating activities |
|
141,242 |
|
|
|
(1,286,364 |
) |
|
|
(5,028,596 |
) |
|
|
(3,910,565 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Cash flow from investing activities: |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Acquisition of property, plant and equipment |
|
(10,651 |
) |
|
|
(7,848 |
) |
|
|
(5,852 |
) |
|
|
(4,551 |
) |
|
|
Net cash used in investing activities |
|
(10,651 |
) |
|
|
(7,848 |
) |
|
|
(5,852 |
) |
|
|
(4,551 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Dividend paid to equity holders |
|
(306,010 |
) |
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
Amount due to shareholders |
|
3,719 |
|
|
|
7,964 |
|
|
|
(8,807 |
) |
|
|
(6,849 |
) |
|
|
Repayment of working capital loans |
|
– |
|
|
|
(131,822 |
) |
|
|
(540,912 |
) |
|
|
(420,649 |
) |
|
|
Proceeds from working capital loans |
|
– |
|
|
|
850,000 |
|
|
|
– |
|
|
|
– |
|
|
|
Proceeds from issuance of shares (net of issuance cost) |
|
– |
|
|
|
1,241,740 |
|
|
|
11,914,033 |
|
|
|
9,265,132 |
|
|
|
Deferred offering costs |
|
– |
|
|
|
(457,718 |
) |
|
|
– |
|
|
|
– |
|
|
|
Net cash (used in)/ generated from financing activities |
|
(302,291 |
) |
|
|
1,510,164 |
|
|
|
11,364,314 |
|
|
|
8,837,634 |
|
|
|
Effects of changes in foreign exchange of cash |
|
6,422 |
|
|
|
(7,847 |
) |
|
|
(165,477 |
) |
|
|
(128,686 |
) |
|
|
Net (decrease)/ increase in cash and cash equivalents |
|
(165,278 |
) |
|
|
208,105 |
|
|
|
6,164,389 |
|
|
|
4,793,832 |
|
|
|
Cash and cash equivalents at beginning of financial year |
|
1,163,124 |
|
|
|
997,846 |
|
|
|
1,205,951 |
|
|
|
937,826 |
|
|
|
Cash and cash equivalents at end of financial year |
|
997,846 |
|
|
|
1,205,951 |
|
|
|
7,370,340 |
|
|
|
5,731,659 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Supplemental cash flow information |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Income taxes paid |
|
(22,597 |
) |
|
|
(25,423 |
) |
|
|
(263 |
) |
|
|
(205 |
) |
|
|
Withholding taxes paid |
|
(193,022 |
) |
|
|
(134,423 |
) |
|
|
(54,441 |
) |
|
|
(42,337 |
) |
|
|
Cash paid for interest |
|
– |
|
|
|
(41,952 |
) |
|
|
(52,061 |
) |
|
|
(40,486 |
) |
|
|
Capital contribution subscription receivable from shareholder |
|
4,900 |
|
|
|
– |
|
|
|
– |
|
|
|
– |
|
|
|
Supplemental disclosure of non-cash flow information |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Deferred IPO cost offset with additional paid-in capital |
|
– |
|
|
|
– |
|
|
|
457,718 |
|
|
|
355,951 |
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20260430945236/en/
Investor Relations
John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860
[email protected]
KEYWORDS: North America United States Asia Pacific Singapore Southeast Asia
INDUSTRY KEYWORDS: Consulting Banking Technology Professional Services Digital Cash Management/Digital Assets Security Telecommunications Software Artificial Intelligence Networks Fintech
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