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GCL Global Holdings Ltd (GCL) stock

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NASDAQ: GCL Nasdaq Application Software

C+ Fundamentals grade

GCL Global Holdings Ltd is a US-listed company in the application software industry. Its financial year ends in March.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: cash-flow, stock-pay or share-count figures missing or out of date.

Price vs value

Under review: cash-flow, stock-pay or share-count figures missing or out of date. We'll show the comparison once resolved.

GCL Global Holdings Ltd valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds4 adding, 4 cuttingOf 1 active managers that changed their stake, 1 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter GCL Global Holdings files

Where GCL Global stands after its latest Filing

Revenue for the twelve months was $239m. That growth ranks 13 of 183 among the application software companies we cover. Free-cash-flow margin held at -4.9%. The diluted share count is up 15.0% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 5 financial-health checks.

Our model value for GCL Global Holdings is under review, so past values are not shown until it is resolved.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

GCL Global Holdings Ltd's trailing-twelve-month revenue grew 68.2% year on year, with a free-cash-flow margin of -4.9%. Where it stands out: stock pay as % of revenue of 0.0% ranks 1 of 177 application software companies we cover. Where it lags: gross margin of 10.3% ranks 155 of 160 application software companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 68.2% (+22.5pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 68.2% over the last 12 months, against a median of 12.0% for application software companies we cover.
  • Growth speeding up. The growth rate is 22.5 points higher than a quarter earlier.

Things to watch

  • Loss-making. Operating margin is -5.6%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 7.8 points on a year ago.
  • Burning cash. Free cash flow was -4.9% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 15.0% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 129% and a beta of 2.1 against the S&P 500.
  • Gross margin slipping. Gross margin is down 4.6 points on a year ago.

Price chart

  • 1 day+1.9%
  • 1 week-1.9%
  • 1 month+18.7%
  • This year-15.9%
  • 1 year-48.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$239M
Operating margin
-5.6%
Net margin
-10.5%
EPS (TTM, diluted)
$-0.20

Growth

Revenue growth
+68.2%
Change in growth rate
+22.5 pts
Share count change
+15.0%

Cash

Free cash flow (TTM)
-$11.6M
FCF margin
-4.9%
Stock pay % of revenue
0.0%

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for GCL from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

GCL Global Holdings Ltd valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: cash-flow, stock-pay or share-count figures missing or out of date.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value GCL Global Holdings Ltd as an operating company, with every model that fits that kind of business. Cost of equity 8.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.82 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$8.2 ~$6.6–$10 Left out: out of range vs price (9.09x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$0.1 ~$2.8–$11 Left out: out of range vs price (0.11x)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare GCL Global Holdings Ltd with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2023202420252026
Share price$10.29$10.81$1.95$0.59
Market value$1.1bn$1.1bn$209m$73m
+ Net debt (− = net cash)−$3m$15m$4m$39m
Enterprise value$1.1bn$1.2bn$213m$112m
Multiples
Price / sales 13.9x11.6x1.5x0.3x
Price / earnings n/m—37.4x—
Price / free cash flow —n/m——
EV / EBITDA n/m—59.8x—

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for GCL Global Holdings Ltd: too few analysts cover it.

Positioning

Short interest
0.7%
of tradable shares
Days to cover
1.84
at average volume
Short interest, 1 month
+13%
to October 15, 2026
Held by institutions
1%
of shares
Held by insiders
71.4%
of shares
Employees
331
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 2023202420252026 to date
Return
GCL+6%+7%−91%−16%
Industry peers (median)+19%+2%−20%−14%
S&P 500+26%+25%+18%+11%
Months that ended higher
GCL100%92%33%55%
S&P 50067%75%75%46%
Largest fall from a high during the year
GCL−1%−1%−91%−69%
S&P 500−10%−8%−19%−9%

Worst fall since April 20, 2022: 97% from December 4, 2024 to July 13, 2026. Getting back needed a 2911% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.38 – $1.79
From 52-week high
−49.7%
vs 50-day average
+23.9%
vs 200-day average
+45.3%
Volatility (1 year)
129%
Beta vs S&P 500
2.08

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

GCL Global Holdings Ltd in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) GCL Global Holdings Ltd
$0 $100M $200M $300M FY23 Q4 FY24 Q4 FY25 Q4 FY26 Q4 Revenue (TTM), FY23 Q4: $77.4M Revenue (TTM), FY24 Q4: $97.5M Revenue (TTM), FY25 Q4: $142.1M Revenue (TTM), FY26 Q4: $238.9M $238.9M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY23 Q4 $77.4M
FY24 Q4 $97.5M
FY25 Q4 $142.1M
FY26 Q4 $238.9M
Operating margin (TTM) GCL Global Holdings Ltd
-10% -5% 0% 5% FY23 Q4 FY24 Q4 FY25 Q4 FY26 Q4 Operating margin (TTM), FY23 Q4: 4.6% Operating margin (TTM), FY24 Q4: -2.5% Operating margin (TTM), FY25 Q4: 2.3% Operating margin (TTM), FY26 Q4: -5.6% -5.6%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY23 Q4 4.6%
FY24 Q4 -2.5%
FY25 Q4 2.3%
FY26 Q4 -5.6%
FCF margin (TTM) GCL Global Holdings Ltd
-10% -5% 0% 5% FY23 Q4 FY24 Q4 FY25 Q4 FY26 Q4 FCF margin (TTM), FY23 Q4: -6.3% FCF margin (TTM), FY24 Q4: 1.1% FCF margin (TTM), FY25 Q4: -7.4% FCF margin (TTM), FY26 Q4: -4.9% -4.9%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY23 Q4 -6.3%
FY24 Q4 1.1%
FY25 Q4 -7.4%
FY26 Q4 -4.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 20-F/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2023 Mar 2023 2024 Mar 2024 2025 Mar 2025 2026 Mar 2026
Income
Revenue 77 98 142 239
Gross profit 14 13 21 25
EBITDA 4 −2 4 −13
Operating income 4 −2 3 −13
Net income 2 −1 6 −25
Diluted EPS $0.02 −$0.01 $0.05 −$0.20
Growth (year on year)
Revenue — +25.9% +45.7% +68.2%
EBITDA — −153.2% — −460.9%
Operating income — −166.5% — −510.1%
Net income — −169.2% — −547.3%
Diluted EPS — −150.0% — −500.0%
Margins
Gross margin 17.9% 13.7% 15.0% 10.3%
EBITDA margin 5.0% −2.1% 2.5% −5.4%
Operating margin 4.6% −2.5% 2.3% −5.6%
Net margin 2.6% −1.4% 3.9% −10.5%
Free-cash-flow margin −6.3% 1.1% −7.4% −4.9%
Cash flow
Cash from operations −4 1 −10 −10
Capital spending 1 0 0 1
Free cash flow −5 1 −10 −12
Stock-based pay — — — 0
Free cash flow after stock pay — — — −12
Balance sheet
Cash 3 3 18 37
Total debt 0 18 22 76
Net debt (negative = net cash) −3 15 4 39
Diluted shares 105m 105m 107m 123m
Returned to shareholders
Dividends — 0 — —
Total returned — 0 — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 5 checks passed · March 31, 2026
What it owns · $183m
Short-term assets $126mLonger-term assets $57m
What it owes, and who funded it · $179m
Short-term liabilities $83mLonger-term liabilities $59mShareholders' equity $37m
  • Short-term assets cover short-term liabilities $126m of assets due within a year against $83m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $126m short-term assets against $59m of longer-dated liabilities.
  • More cash than debt $37m of cash against $54m of debt.
  • Debt below 40% of shareholders' equity Debt is 147% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$10m of operating cash flow against $54m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From GCL Global Holdings Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+15.0%
year over year
Days sales outstanding
56 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated GCL VTEX PDFS DCBO AI OSPN Median
Revenue, last 12 months $239m $241m $241m $243m $232m $253m $482m
Revenue growth, last 12 months 68.2% 6.1% 23.0% 11.9% −37.5% 4.9% 12.0%
Revenue growth, 3-year average — — 14.0% — −5.3% 3.4% 11.1%
Revenue growth, latest quarter — — 18.9% — −25.5% 12.0% 11.9%
Gross margin 10.3% 77.5% 71.5% 80.3% 29.1% 74.3% 69.2%
Operating margin −5.6% 7.5% 8.2% 9.6% −203.1% 17.9% 1.1%
Operating margin, 3-year average — — −1.8% — −133.9% 17.3% −0.8%
Net margin −10.5% 8.3% 4.3% 15.5% −192.1% 27.5% 2.1%
Cash from operations / revenue −4.4% 13.9% 16.0% 11.6% −66.5% 22.6% 18.2%
Free-cash-flow margin −4.9% 13.4% −0.7% 11.2% −67.0% 17.6% 15.0%
Free-cash-flow margin, 3-year average — — −0.9% — −37.5% 17.8% 16.2%
Stock pay / revenue 0.0% 7.2% 10.6% 2.5% 111.1% 4.9% 9.3%
Change in share count 15.0% −3.8% 2.7% −5.2% 10.4% −1.4% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 68.2% 12.0% 13 of 184
Change in growth rate Growth +22.5pp +0.2pp 15 of 184
Gross margin Profitability 10.3% 69.8% 155 of 160
Operating margin Profitability -5.6% 1.1% 111 of 181
Net margin Profitability -10.5% 2.1% 121 of 185
Free-cash-flow margin Cash generation -4.9% 15.2% 138 of 180
Stock pay as % of revenue Cash generation 0.0% 9.3% 1 of 177
Long-term debt as % of assets Balance sheet 17.6% 16.9% 54 of 98
Change in share count Balance sheet 15.0% 1.7% 134 of 163
Days sales outstanding Balance sheet 56 days 57 days 80 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$158,580
Institutions reporting
7
Shares held vs prior quarter
▲ 92.3%
Positions opened / closed
4 / 2

Top buyers and sellers, Q2 2026: 4 institutions bought and 4 sold ; the biggest buyer was Citadel Advisors LLC (+96K shares) and the biggest seller Geode Capital Management, LLC (−20K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Citadel Advisors LLC $43,125 96K 27.2% New
UBS Group AG $39,237 87K 24.7% ▼ 6.7%
HRT Financial LP $33,000 75K 20.8% New
Geode Capital Management, LLC $25,590 57K 16.1% ▼ 26.4%
Jane Street Group, LLC $12,787 28K 8.1% New
Ground Swell Capital, LLC $4,779 11K 3.0% New
Jones Financial Companies LLLP $62 0K 0.0% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not GCL Global Holdings Ltd's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on GCL Global Holdings Ltd was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

GCL Global Holdings Ltd in brief

What does GCL Global Holdings Ltd do?
GCL Global Holdings Ltd is a US-listed company in the application software industry. Its financial year ends in March.
What is GCL Global Holdings Ltd's stock ticker?
GCL Global Holdings Ltd trades under the ticker GCL on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is GCL Global Holdings Ltd's revenue, and how fast is it growing?
Over its most recent trailing twelve months, GCL Global Holdings Ltd reported revenue of $239M, 68.2% higher than a year earlier, according to its SEC filings.
What is GCL Global Holdings Ltd's free cash flow?
GCL Global Holdings Ltd's free-cash-flow margin is -4.9% of revenue over the trailing twelve months, ranking 138 of the 180 application software companies we cover.
Who are GCL Global Holdings Ltd's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Citadel Advisors LLC, UBS Group AG and HRT Financial LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is GCL Global Holdings Ltd's market cap?
On March 31, 2026, GCL Global Holdings Ltd's market capitalisation was about $72.7M and net debt of $39.1M. Market figures come from third-party market data and may be delayed.
How much debt does GCL Global Holdings Ltd have?
GCL Global Holdings Ltd's debt-to-equity ratio is 146.7%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are GCL Global Holdings Ltd's competitors?
In our Application Software peer group, the companies closest to GCL Global Holdings Ltd are Vtex, PDF Solutions Inc, Docebo Inc., C3.ai, Inc. and Onespan Inc. The side-by-side comparison below sets their revenue, margins and growth against GCL Global Holdings Ltd's.