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Globaltech Corporation Reports Fiscal Year 2025 Financial Results
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| Net revenue | $ | 22,068,599 | $ | 18,255,248 | ||||
| Adjusted EBITDA | $ | 892,877 | $ | 2,473,516 | ||||
| Loss from Operations | $ | (1,463,735 | ) | $ | (401,281 | ) |
Set forth below is a presentation and reconciliation of our Adjusted EBITDA and non-GAAP loss from operations for the years ended December 31, 2025 and 2024 to GAAP net loss and GAAP loss from operations, respectively:
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| Loss from operations | $ | (3,730,391 | ) | $ | (4,057,349 | ) | ||
| Plus, other income | $ | 2,266,656 | $ | 3,656,068 | ||||
| Non-GAAP loss from operations | $ | (1,463,735 | ) | $ | (401,281 | ) | ||
| December 31, | ||||||||
| 2025 | 2024 | |||||||
| Net revenue | $ | 22,068,599 | $ | 18,255,248 | ||||
| GAAP net loss attributable to GlobalTech Corporation | (3,147,248 | ) | (2,946,293 | ) | ||||
| Add back (subtract) | ||||||||
| Depreciation and amortization | 2,134,459 | 2,804,936 | ||||||
| Finance cost | 1,395,710 | 2,365,281 | ||||||
| Income taxes | 287,802 | 179,733 | ||||||
| Exchange loss | 222,153 | 69,859 | ||||||
| Adjusted EBITDA | $ | 892,877 | $ | 2,473,516 |
Non-GAAP loss from operations is defined as GAAP operating loss plus other income.
Adjusted EBITDA is defined as net income attributable to GlobalTech Corporation shareholders plus net income attributable to non-controlling interest, net interest expense, income taxes, depreciation and amortization, and other operating (income) expenses, net, such as exchange loss/(gain).
FORWARD-LOOKING STATEMENTS
Certain of the matters discussed in this press release which are not statements of historical fact constitute forward-looking statements that involve a number of risks and uncertainties. Words such as“strategy,”“expects,”“continues,”“plans,”“anticipates,”“believes,”“would,”“will,”“estimates,””intends,”“projects,”“goals,”“targets” and other words of similar meaning are intended to identify forward-looking statements, but are not the exclusive means of identifying these statements. Any statements made in this press release other than those of historical fact, about an action, event or development, are forward-looking statements. The important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation: our ability to obtain approval from Nasdaq for an uplisting of our common stock onto Nasdaq, as well as our ability to meet Nasdaq's initial listing criteria, which we do not currently meet; the fact that we are exposed to foreign currency exchange loss, and fluctuation and translation risks related to our business in Pakistan; the international economic environment, geopolitical developments and unexpected global events could cause our business to decline; investing in emerging markets, where our operations are located, is subject to greater risks than investing in more developed markets, including significant political, legal and economic risks; our revenue performance can be unpredictable by nature, as a large majority of our customers have not entered into long-term fixed contracts with us; we operate in highly competitive markets, which we expect only to become more competitive, and as a result, we may have difficulty expanding our customer base or retaining existing customers; we may be unable to keep pace with technological changes and evolving industry standards, which could harm our competitive position and, in turn, materially harm our business; we are exposed to cyber-attacks and other cybersecurity threats that may lead to compromised or inaccessible tele-communications, digital and financial services, and/or leaks or unauthorized processing of confidential information, and perceptions of such threats may cause customers to lose confidence in our services; the telecommunications industry is highly capital-intensive and requires substantial and ongoing expenditures of capital; our ability to profitably provide telecommunications services depends in part on the terms of our interconnect agreements and access to third-party-owned infrastructure and networks, over which we have no direct control; we may be subject to increases in license fees for some of our licenses or to obtain new licenses; the loss of important intellectual property rights, as well as third-party claims that we have infringed on their intellectual property rights, could significantly harm our business; our substantial amounts of indebtedness and debt service obligations could materially decrease our cash flow, which could adversely affect our business and financial condition; we may not be able to raise additional capital, or we may only be able to raise additional capital at significantly increased costs; if WorldCALL Telecom Limited issues more shares, our ownership could go below 50%; risks associated with our ability to continue to conduct our activities in a manner so as not to be deemed an investment company under the Investment Company Act of 1940, as amended; our ability to maintain ownership control of 123 Investments Limited and other key subsidiaries; economic downturns in Pakistan and globally, inflationary pressures, changes in interest rates, increased borrowing costs and reduced financing availability; risks relating to future divestitures, asset sales, joint ventures and acquisitions; and our future operating results, financial performance and growth prospects; provisions in our certificate of incorporation, our by-laws and Nevada law might discourage, delay, or prevent a change in control of our company or changes in our management and, therefore, depress the trading price of the common stock; we are a controlled company, no active trading market for our common stock exists, and an active trading market may not develop or be sustained in the future; stockholders may be diluted significantly through our efforts to obtain financing and satisfy obligations through the issuance of additional shares of the common stock; we have not and do not expect to declare any cash dividends to our shareholders in the foreseeable future; concentration of ownership among our existing executive officers, directors and their affiliates may prevent new investors from influencing significant corporate decisions; our officers and directors may have conflicts of interest, which may not be resolved in the favor of our shareholders; if we are unable to establish appropriate internal financial reporting controls and procedures, it could cause us to fail to meet our reporting obligations, resulting in the restatement of our financial statements, harm our operating results, subject us to regulatory scrutiny and sanction, cause investors to lose confidence in our reported financial information and have a negative effect on the market price for shares of the common stock; we will incur increased costs and demands upon management as a result of complying with the laws and regulations affecting public companies, which could adversely affect our operating results; the telecommunications industry is a highly regulated industry, and we are subject to an extensive variety of laws and operate in uncertain judicial and regulatory environments, which may result in unanticipated outcomes that could harm our business; violations of and changes to applicable sanctions and embargo laws, including export control restrictions, may harm our business; we could be subject to tax claims and repeated tax audits that could harm our business; changes in tax treaties, laws, rules or interpretations could have significantly adverse effects on our business, and the unpredictable tax systems in the markets in which we operate give rise to significant uncertainties and risks that could complicate our tax and business decisions; anti-terror legislation passed in Pakistan and other jurisdictions could result in additional operating costs and capital expenditures; regulatory developments and government action on climate change issues may drive medium-to-long term increases in our operational costs; certain of our subsidiaries are incorporated in Pakistan and the UK, and their assets are in Pakistan and the UK, which may affect shareholder rights, including a shareholder's ability to enforce civil liabilities under U.S. securities laws; we are, and may in the future be, involved in, associated with, or otherwise subject to legal liability in connection with disputes and litigation with regulators, competitors, and third parties, which, when concluded, could have an adverse impact on our business; and our licenses are granted for specific periods and may be suspended, revoked, or we may be unable to extend or replace these licenses upon expiration, and we may be fined or penalized for alleged violations of law, regulations, or license terms.
Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in the Company's publicly filed reports, including, but not limited to, the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and future Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. These reports are available at The Company cautions that the foregoing list of important factors is not complete. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this press release, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
| GLOBALTECH CORPORATION | ||||||||
| CONSOLIDATED BALANCE SHEETS | ||||||||
| AS OF DECEMBER 31, 2025 AND 2024 | ||||||||
| 2025 | 2024 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 528,717 | $ | 822,251 | ||||
| Restricted cash | 2,721,030 | 2,633,019 | ||||||
| Accounts receivable – net – Pledge | 8,283,057 | 3,780,777 | ||||||
| Short term investments – Pledge | 1,037,131 | 970,596 | ||||||
| Prepayments | 960,235 | 60,234 | ||||||
| Stores and spares – Pledge | 835,010 | 838,641 | ||||||
| Stock in trade | 5,225,746 | – | ||||||
| Advances | 4,332,758 | 4,660,122 | ||||||
| Due from related parties | 158,203 | 13,430 | ||||||
| Other receivables | 1,426,910 | 3,933,728 | ||||||
| Total current assets | 25,508,797 | 17,712,798 | ||||||
| Property, plant and equipment – Pledge | 16,074,411 | 16,936,286 | ||||||
| Operating lease right-of-use assets | 1,248,106 | 451,111 | ||||||
| Intangible assets – net – Pledge | 46,253,581 | 10,264,049 | ||||||
| Goodwill | 4,826,375 | – | ||||||
| Advance to a related party | 3,360,688 | – | ||||||
| Long term receivables and other assets | 3,232,132 | 3,123,604 | ||||||
| Deferred tax asset | 2,641,751 | 8,468,381 | ||||||
| TOTAL ASSETS | $ | 103,145,841 | $ | 56,956,229 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Trade and other payables | $ | 38,416,828 | $ | 26,721,113 | ||||
| Current portion of non-current liabilities | 8,896,008 | 8,320,104 | ||||||
| Accrued interest | 4,044,858 | 3,545,054 | ||||||
| Short term borrowings – Pledge | 2,949,049 | 1,103,560 | ||||||
| Due to related parties | 347,416 | 542,185 | ||||||
| Provision for taxation – net | 634,002 | 1,125,182 | ||||||
| Total current liabilities | 55,288,161 | 41,357,198 | ||||||
| Term finance certificates | – | – | ||||||
| Long term financing – secured | 623,629 | 1,154,484 | ||||||
| Long term financing – Convertible | 1,625,000 | – | ||||||
| Long term deposits and payable | 1,687,168 | 1,412,328 | ||||||
| License fee payable | 162,228 | 163,217 | ||||||
| Operating lease liability | 977,792 | 635,030 | ||||||
| Post employment benefits | 704,377 | 676,084 | ||||||
| Due to related parties | 2,243,820 | 709,975 | ||||||
| Total non-current liabilities | 8,024,014 | 4,751,118 | ||||||
| TOTAL LIABILITIES | $ | 63,312,175 | $ | 46,108,316 | ||||
| CONTINGENCIES AND COMMITMENTS (NOTE 18) | ||||||||
| SHAREHOLDERS' EQUITY: | ||||||||
| Preferred stock, $100 par value – authorized 50,000,000 shares of Series A Convertible Preferred Stock at December 31, 2025 and 82,800 shares issued | 8,280,000 | – | ||||||
| Common stock, $0.0001 par value – authorized 500,000,000 shares at December 31, 2025 and December 31, 2024 and issued 150,719,091 and 139,933,391 shares, respectively | 15,072 | 13,993 | ||||||
| Additional paid in capital | 11,570,321 | – | ||||||
| Accumulated other comprehensive loss | (322,182 | ) | (896,497 | ) | ||||
| Accumulated deficit | (39,824,105 | ) | (38,110,867 | ) | ||||
| SHAREHOLDERS' EQUITY ATTRIBUTABLE TO PARENT | (20,280,894 | ) | (38,993,371 | ) | ||||
| Non-controlling interest | 60,114,560 | 49,841,283 | ||||||
| TOTAL SHAREHOLDERS' EQUITY | 39,833,666 | 10,847,914 | ||||||
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ | 103,145,841 | $ | 56,956,229 |
| GLOBALTECH CORPORATION CONSOLIDATED STATEMENT OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024 | ||||||||
| 2025 | 2024 | |||||||
| NET REVENUE | $ | 22,068,599 | $ | 18,255,248 | ||||
| Direct operating costs | (20,064,066 | ) | (16,800,147 | ) | ||||
| Other operating costs | (3,274,580 | ) | (2,505,673 | ) | ||||
| Depreciation and amortization | (2,134,460 | ) | (2,804,936 | ) | ||||
| Other expenses | (325,885 | ) | (201,841 | ) | ||||
| OPERATING LOSS | (3,730,392 | ) | (4,057,349 | ) | ||||
| OTHER: | ||||||||
| Other income – net | 2,266,656 | 3,656,070 | ||||||
| Finance cost | (1,395,709 | ) | (2,365,281 | ) | ||||
| LOSS BEFORE TAXATION | (2,859,445 | ) | (2,766,560 | ) | ||||
| Taxation | (287,802 | ) | (179,733 | ) | ||||
| NET LOSS | $ | (3,147,247 | ) | $ | (2,946,293 | ) | ||
| NET LOSS ATTRIBUTABLE TO: | ||||||||
| Common shareholders of GlobalTech Corporation – (a) | (1,713,238 | ) | (1,626,354 | ) | ||||
| Non-controlling interest (NCI) | (1,434,009 | ) | (1,319,939 | ) | ||||
| (3,147,247 | ) | (2,946,293 | ) | |||||
| Loss per common share: basic and diluted – (a/b) | $ | (0.012 | ) | $ | (0.012 | ) | ||
| Weighted-average common shares used to compute basic and diluted loss per share – (b) | 147,164,898 | 139,933,391 |
Contact:
Dan Green
Chief Executive Officer
...
(775) 636-3132
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