Quarterly ResultAug 13, 2026, 04:47 PM
GlobalTech Q2 Revenue $11.12M, Net Income $0.53M; Divests Subsidiaries
AI Summary
GlobalTech Corp. reported a significant increase in net revenue for the second quarter of 2026, reaching $11.12 million, up from $5.63 million in the prior year. The company also turned a net profit of $0.53 million for the quarter, compared to a net loss of $1.12 million in Q2 2025. For the six months ended June 30, 2026, net revenue grew to $21.54 million, though the company recorded a net loss of $3.49 million. Additionally, its subsidiary 123 Investments Limited divested two footwear-related subsidiaries, MIP Employees 1975 Limited and MIP Trading 1975 Limited, as of May 14, 2026.
Key Highlights
- Net revenue for Q2 2026 increased to $11.12 million from $5.63 million in Q2 2025.
- Net income for Q2 2026 was $0.53 million, compared to a net loss of $1.12 million in Q2 2025.
- Net loss per common share for Q2 2026 was $0.001, improving from $(0.004) in Q2 2025.
- For the six months, net revenue rose to $21.54 million from $9.97 million year-over-year.
- Total assets decreased to $96.70 million as of June 30, 2026, from $103.15 million at year-end 2025.
- 123 Investments Limited divested MIP Employees 1975 Limited and MIP Trading 1975 Limited.
- Issued $2.78 million in common stock during the first six months of 2026.
Price Impact
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