Treasure Global Inc. Q2 FY2024 earnings call

• Leveraged AI capabilities to enhance product offerings and engage with customers, leading to increased market share. - Announced a public offering raising $4 million, used part to retire $2.1 million of convertible notes to fortify financial position. - ZCITY conducted first Live Commerce section on TikTok, co-hosted by human and AI robot with over 6,400 viewers and ~1,100 purchasers. - Unveiled ZCITY premium store with personalized recommendations, AI-driven discounts, etc. - Launched 10 mini games in ZCITY 3D World powered by AI Game Creator. - Entered strategic alliance with AIO synergy to develop next-gen AI solutions and data centers for AI applications.

For the second quarter of fiscal year 2024 ended December 31, 2023, total revenue was $6.7 million, down from $20.4 million in the same period of 2022. Gross profit was approximately $346,000, up from $234,000 in the same period last year. ZCITY had over 2.68 million registered users and over 2,027 registered merchants as of December 31, 2023. Quarterly active users were 156,979, paid users were down by 64%, and total transactions by registered users over the quarter were $0.58 million.

• Focused on growing higher-margin businesses, with initiatives like TAZTE and ZCITY's AI-driven offerings expected to translate to increased revenue and margins in the long term. - Expect further improvement in gross profit and margins as they continue to expand TAZTE and add higher-margin solutions for ZCITY.

• Forward-looking statements are subject to numerous conditions beyond the company's control, as outlined in the Risk Factors section of the company's Form 10-K and subsequent filings with the SEC.