Executive Summary

Q3 2025 revenue was $5.54M (+10.4% YoY; -1.6% QoQ). Operating loss improved YoY to $(0.52)M (from $(1.10)M), while GAAP net loss was $(0.71)M vs $(0.46)M in Q3 2024; Adjusted EBITDA was ~$0.01M vs $0.95M in Q3 2024, reflecting much lower other income YoY .
Broadband scaled sharply: $1.25M revenue in Q3 (+~$1.0M YoY) on 25,000 new internet connections; telecom minutes rose to 214M (+17.6% YoY), partially offset by a decline in technology/other services to ~$0.01M .
Cost discipline and lower rates helped: finance cost fell to $0.40M (from $0.45M) as KIBOR declined; depreciation also fell with certain intangibles fully amortized .
Strategic catalysts: (i) $1.4M convertible notes financing to fund AI and data platforms ; (ii) President appointment to deepen U.S. leadership ; (iii) World Mobile Chain agreement to deploy blockchain infrastructure and build a WMTx digital asset treasury .
No formal guidance was issued. Management emphasized building toward 2026 with commercialization of BillCare, CADNZ, compliance AI tools, and Thrivo.AI e‑commerce/ERP, positioning the company “at the intersection of connectivity, compliance, and data intelligence” .

What Went Well and What Went Wrong

What Went Well
- Broadband acceleration: revenue rose to $1.25M in Q3 2025 vs $0.25M in Q3 2024 on 25,000 new connections, shifting mix toward higher-margin services .
- Telecom volumes up: international termination minutes climbed to 214M from 182M YoY, supporting telecom revenue growth to $4.57M from $4.37M .
- Cost tailwinds: finance cost declined to $0.40M (from $0.45M) on lower KIBOR; D&A fell as certain intangibles fully amortized, aiding operating loss improvement YoY .
- Quote: “Our third quarter reflected continued top-line growth and steady execution of our transformation toward a service- and technology-centric business.” — CEO Dan Green .
What Went Wrong
- Non-operational tailwind faded: other income fell to $0.27M from $1.19M YoY, a key driver of the sharp YoY drop in Adjusted EBITDA ($0.01M vs $0.95M) despite better operating results .
- Technology/other services revenue dropped to ~$0.01M from $0.40M YoY, offsetting gains elsewhere in mix .
- Profitability still thin: GAAP net loss of $(0.71)M, gross margin ~13.1%, and ongoing NCI drag highlight execution still required to reach sustained profit .

Financial Results

Consolidated results vs prior year, prior quarter, and Adjusted EBITDA

Metric	Q3 2024	Q2 2025	Q3 2025
Revenue ($)	$5,017,195	$5,628,068	$5,540,550
Operating Income (Loss) ($)	$(1,099,408)	$(957,947)	$(516,438)
Net Income (Loss) ($)	$(455,818)	$(1,121,670)	$(713,086)
Diluted EPS ($)	$(0.007)	$(0.008)	$(0.005)
Adjusted EBITDA ($)	$945,641	$(1,839,120)	$10,295
Direct Operating Costs ($)	$4,647,157	$5,111,388	$4,816,398
Gross Profit ($)	$370,038	$516,680	$724,152
Gross Margin (%)	7.4%	9.2%	13.1%

Segment revenue mix (Q3 YoY)

Segment	Q3 2024	Q3 2025
Telecom Services ($)	$4.37M	$4.57M
Broadband Services ($)	$0.25M	$1.25M
Technology & Other Services ($)	$0.40M	$0.01M

Key performance indicators

KPI	Q3 2024	Q3 2025
International Termination Minutes	182M	214M
New Internet Connections (Quarter)	—	25,000
Finance Cost ($)	$0.45M	$0.40M
Cash & Cash Equivalents (9/30)	—	$1,069,413
Restricted Cash (9/30)	—	$2,761,779
Cash & CE including Restricted (9/30)	—	~$3.8M

Non-GAAP note: Adjusted EBITDA and non‑GAAP operating loss exclude interest, taxes, D&A and certain other items (e.g., exchange effects). Management cautions on limitations and comparability of non‑GAAP metrics and provides reconciliations in the 8‑K .

Guidance Changes

Metric	Period	Previous Guidance	Current Guidance	Change
Revenue	FY/Quarter	None	None	n/a
Margins/OpEx/Tax/Segments	FY/Quarter	None	None	n/a
Capital/Dividend	FY/Quarter	None	None	n/a

No formal quantitative guidance was provided in the Q3 materials; management commentary focused on product commercialization roadmaps (BillCare U.S. launch, CADNZ nearing launch, compliance AI tools ready for market, Thrivo.AI demos in Q4 2025, ERP integration targeted for Q2 2026) .

Earnings Call Themes & Trends

(No Q3 earnings call transcript was available; themes reflect press releases and the 10‑Q.)

Topic	Previous Mentions (Q1 & Q2 2025)	Current Period (Q3 2025)	Trend
AI/compliance tech	Investment/holding co approach; early product portfolio referenced	EntityScan, EDFI‑AI, HyperLocal PEP Scan “ready for commercialization”	Advancing to commercialization
Broadband buildout	Rapid growth, rising mix and margin improvement	$1.25M revenue (+~$1.0M YoY); 25k new connections	Accelerating
Telecom volumes	Strong LDI; minutes up YoY	214M minutes (+17.6% YoY)	Improving
Blockchain/DePIN	—	Agreement with World Mobile Chain; plan for WMTx treasury; enterprise on‑chain services	New initiative
Leadership & U.S. presence	—	Appointment of President Frank R. Parrish to strengthen U.S. leadership	Strengthening governance
Macro/FX & rates	FX noted as a risk; finance costs elevated in 2024	Finance cost down on KIBOR decline; FX remains a factor	Mixed tailwinds

Management Commentary

“Our third quarter reflected continued top-line growth and steady execution of our transformation toward a service- and technology-centric business…These initiatives…position GlobalTech at the intersection of connectivity, compliance, and data intelligence, laying the foundation for expected sustainable, growth in 2026 and beyond.” — CEO Dan Green .
“By integrating World Mobile Chain’s blockchain infrastructure with our technology portfolio, we expect to create a secure and scalable foundation for digital asset innovation that enhances operational efficiency and unlocks new revenue opportunities.” — President Frank R. Parrish .
MD&A highlights: telecom minutes growth, broadband subscriber gains, lower KIBOR reducing finance cost, and D&A decline due to full amortization of certain intangibles .

Q&A Highlights

No Q3 2025 earnings call transcript was available; therefore, Q&A themes and clarifications are not accessible from primary sources [ListDocuments showed no earnings-call-transcript for 2025].

Estimates Context

S&P Global consensus estimates for GLTK were not available for Q3 2025 (no published EPS or revenue consensus; no target price or recommendation shown). Values retrieved from S&P Global.*

Estimate Metric	Q3 2025
Primary EPS Consensus Mean	NA*
Revenue Consensus Mean	NA*
Target Price Consensus Mean	NA*
Consensus Recommendation (Text)	NA*

Key Takeaways for Investors

Mix is improving: broadband and higher-quality telecom volumes are growing; gross margin expanded to ~13.1% (from 7.4% YoY; 9.2% QoQ), but remains thin—continued mix shift and operating efficiency are critical .
Non-operating tailwinds normalized: other income dropped materially YoY, which masked core operating improvement and depressed Adjusted EBITDA vs the prior year .
Execution roadmap: multiple software assets (BillCare, CADNZ, compliance AI suite, Thrivo.AI) are nearing commercialization; successful monetization could structurally raise margins in 2026+ .
Strategic optionality: the World Mobile Chain agreement and WMTx treasury plan create optionality in decentralized infrastructure and on‑chain services, though execution, regulatory, and treasury risks must be monitored .
Balance sheet and funding: $1.4M convertible notes closed in September support investment; cash and restricted cash totaled ~$3.8M at quarter‑end .
Watch list into Q4–FY: (i) broadband momentum and pricing/unit economics; (ii) telecom minutes resiliency; (iii) commercialization milestones (Thrivo.AI demos, CADNZ launch); (iv) FX/KIBOR impacts on finance cost; and (v) progress toward operating breakeven .

Sources: Q3 2025 8‑K press release and financials ; Q2/Q1 2025 8‑K press releases ; 10‑Q Q3 2025 MD&A and financials ; WMC agreement 8‑K ; Leadership appointment 8‑K ; Convertible notes financing 8‑K .

GlobalTech Corp (GLTK)·Q3 2025 Earnings Summary