Society Pass Reports 46% Q2 Revenue Growth Raises 2025 Forecast to $8.8M

Society Pass Inc. (NASDAQ: SOPA), a Southeast Asian e-commerce ecosystem, reported strong second quarter 2025 financial results, with revenues of $2.5 million, representing a 46% year-on-year growth, and earnings per share of $0.10, surpassing prior estimates. Ascendiant Capital Markets has responded by raising its 2025 revenue estimate to $8.8 million from $6.2 million and improving its EPS forecast to a loss of $0.42 from a previously expected loss of $1.04. Notably, Society Pass’s market capitalization is around $5 to $8.6 million, significantly undervaluing the company given it holds an estimated $29 million in cash, including $17 million raised from the August 2025 IPO of its subsidiary NusaTrip (ticker NUTR), which is currently trading at about $8 per share, double its IPO price. Ascendiant expects another subsidiary, Thoughtful Media, to complete an IPO by the end of 2025 with a valuation comparable to NusaTrip, potentially serving as a catalyst for SOPA’s share price. The research firm maintains a "buy" rating and has raised the 12-month price target for SOPA shares to $18, citing growth prospects and valuation disconnects as key factors. Despite some short-term liquidity concerns, the company’s strong growth, improving profitability, and undervaluation present high reward potential for investors.