Society Pass reports 46% revenue growth in second quarter

Society Pass Inc. (NASDAQ: SOPA) reported second quarter 2025 revenue of $2.5 million, representing a 46% increase compared to the same period last year, according to an equity research report from Ascendiant Capital Markets.

The Southeast Asian e-commerce company posted earnings per share of $0.10 for the quarter, compared to analyst estimates of a $0.24 loss per share. The revenue figure exceeded previous estimates of $1.5 million.

Ascendiant Capital Markets raised its 2025 revenue estimates for the company to $8.8 million from $6.2 million and adjusted the earnings per share forecast to a loss of $0.42 from a previously estimated loss of $1.04. The firm also increased its 2026 revenue projection to $10.0 million from $9.0 million.

In August 2025, Society Pass subsidiary NusaTrip completed an initial public offering on NASDAQ under ticker NUTR, raising $17 million. The research firm expects another subsidiary, Thoughtful Media, to complete an IPO by the end of 2025.

According to the research report, Society Pass holds approximately 12 million shares of NusaTrip, representing about 75% ownership. NusaTrip shares currently trade at approximately $8.00 per share, double its IPO price.

Ascendiant Capital Markets maintained its buy rating on Society Pass and raised its 12-month price target to $18 from $15. The firm noted that Society Pass has an estimated $29 million in cash while maintaining a market capitalization of approximately $5 million.

Society Pass operates as an acquisition-focused holding company with three verticals covering digital media, travel and lifestyle services across Vietnam, Indonesia, Philippines, Singapore and Thailand.

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