CALGARY, AB / ACCESS Newswire / May 12, 2026 / GINSMS Inc. (TSXV:GOK) ("GINSMS" or the "Corporation") has announced its financial results for the first quarter ended March 31, 2026.
This news release is being filed pursuant to Coordinated Blanket Order 51 - 933 Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers (the "Quarterly Reporting Exemption"). GINSMS does not intend to file an interim financial report and related MD&A in reliance on the Quarterly Reporting Exemption for this first quarter ended March 31, 2026.
The financial information for this first quarter contained in this press release is disclosed to allow GINSMS' ultimate holding company, Beat Holdings Limited ("BHL"), a public company in Japan, to use certain of GINSMS' financial information in the preparation of BHL's financial statements and announcements.
The Corporation's financial information for the three months ended March 31, 2026, is prepared in accordance with IFRS Accounting Standards. All amounts are expressed in Canadian Dollars unless otherwise noted.
Highlights include:
Revenue of $345,898 for the three-month period ended March 31, 2026, as compared of $345,893 for the three-month period ended March 31, 2025.
Gross Profit of $130,101 for the three-month period ended March 31, 2026, as compared to gross profit of $105,982 for the three-month period ended March 31, 2025.
Operating expenses and finance costs of $440,833 for the three-month period ended March 31, 2026, increased from $403,107 for the three-month period ended March 31, 2025.
Net loss of $310,732 for three-month period ended March 31, 2026 as compared to a net loss of $297,125 for three-month period ended March 31, 2025.
Selected Profit and Loss Information
Financial Highlights |
| Three-month period ended March 31, 2026 (Unaudited) |
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| Three-month period ended March 31, 2025 (Unaudited) |
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| Twelve-month period ended December 31, 2025 (Audited) |
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| Twelve-month period ended December 31, 2024 (Audited) |
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Revenues $ |
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A2P Messaging Service |
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| 63,766 |
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| 73,365 |
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| 263,721 |
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|
| 715,934 |
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Software Products & Services |
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| 282,132 |
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| 272,528 |
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| 1,194,269 |
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|
| 1,790,173 |
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| 345,898 |
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| 345,893 |
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| 1,457,990 |
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| 2,506,107 |
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Cost of sales $ |
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A2P Messaging Service |
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| 42,484 |
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| 66,482 |
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| 198,084 |
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| 344,322 |
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Software Products & Services |
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| 173,313 |
|
|
| 173,429 |
|
|
| 721,938 |
|
|
| 1,006,829 |
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|
| 215,797 |
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| 239,911 |
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|
| 920,022 |
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| 1,351,151 |
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Gross profit $ |
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A2P Messaging Service |
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| 21,282 |
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| 6,883 |
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| 65,637 |
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| 371,612 |
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Software Products & Services |
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| 108,819 |
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| 99,099 |
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| 472,331 |
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| 783,344 |
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| 130,101 |
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| 105,982 |
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| 537,968 |
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| 1,154,956 |
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Gross margin % |
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A2P Messaging Service |
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| 33.4 | % |
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| 9.4 | % |
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| 24.9 | % |
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| 51.9 | % |
Software Products & Services |
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| 38.6 | % |
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| 36.4 | % |
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| 39.5 | % |
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| 43.8 | % |
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| 37.6 | % |
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| 30.6 | % |
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| 36.9 | % |
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| 46.1 | % | |
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Adjusted EBITDA(1) $ |
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| (297,331 | ) |
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| (273,498 | ) |
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| (512,553 | ) |
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| 188,6617.5 | % |
Adjusted EBITDA margin |
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| (86.0) | % |
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| (79.1) | % |
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| (35.2) | % |
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| 7.5 | % |
Net (loss)/profit $ |
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| (310,732 | ) |
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| (297,125 | ) |
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| (596,278 | ) |
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| 21,4850.9 |
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Net (loss)/profit margin |
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| (89.8) | % |
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| (85.9) | % |
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| (40.9) | % |
|
| 0.9 | % |
Net (loss)/earnings per share $ |
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| (0.166 | ) |
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| (0.158 | ) |
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| (0.317 | ) |
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| 0.012 |
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Basic and Diluted (in Canadian cents) |
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(1) Adjusted EBITDA is a non-IFRS measure which does not have any standardized meaning under IFRS Accounting Standards. Adjusted EBITDA is related to cash earnings and is defined for these purposes as earnings before income taxes, depreciation and amortisation (in both cost of sales and general and administration expenses), interest expenses and also excludes certain non-recurring or non-cash expenditure and income. This non-IFRS measure is not recognised under IFRS Accounting Standards and accordingly, shareholders are cautioned that this measure should not be construed as an alternative to net income determined in accordance with IFRS Accounting Standards. The non-IFRS measure presented is unlikely to be comparable to similar measure presented by other issuers. The Corporation believes that Adjusted EBITDA is a meaningful financial metric as it measures cash generated from operations which the Corporation can use to fund working capital requirements, service interest and principal debt repayment and fund future growth initiatives.
Cost of Sales
| Three-month period ended March 31, 2026 (Unaudited) |
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| Three-month period ended March 31, 2025 (Unaudited) |
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| Twelve-month period ended December 31, 2025 (Audited) |
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| Twelve-month period ended December 31, 2024 (Audited) |
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Depreciation - Property, plant and equipment |
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| 1,271 |
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| 9,560 |
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| 30,447 |
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| 44,891 |
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Salaries and wages |
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| 168,531 |
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| 159,956 |
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| 658,533 |
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| 906,724 |
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Subcontractor costs |
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| 38,804 |
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| 63,342 |
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| 199,519 |
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| 367,611 |
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Others |
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| 7,191 |
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| 7,053 |
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| 31,523 |
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| 31,925 |
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| 215,797 |
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| 239,911 |
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| 920,022 |
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| 1,351,151 |
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Operating Expenses and Finance Costs
| Three-month period ended March 31, 2026 (Unaudited) |
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| Three-month period ended March 31, 2025 (Unaudited) |
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| Twelve-month period ended December 31, 2025 (Audited) |
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| Twelve-month period ended December 31, 2024 (Audited) |
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Salaries and wages |
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| 140,771 |
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| 161,794 |
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| 432,223 |
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| 377,658 |
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Directors' fees |
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| 10,000 |
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| 10,000 |
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| 40,000 |
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| 40,000 |
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Professional fees |
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| 86,343 |
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| 85,541 |
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| 287,029 |
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| 301,269 |
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Foreign currency exchange loss/(gain) |
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| 118,028 |
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| 34,171 |
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| (66,515 | ) |
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| 3,913 |
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Other general & administrative expenses |
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| 55,411 |
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| 57,914 |
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| 231,768 |
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| 254,414 |
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Allowance for doubtful debts |
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| 5,899 |
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| - |
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| 24,000 |
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| 33,932 |
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Research & development costs |
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| 12,251 |
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| 39,620 |
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| 121,871 |
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| 69,184 |
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Depreciation |
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- Property, plant and equipment |
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| 164 |
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| 364 |
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| 1,432 |
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| 778 |
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- Right-of-use assets |
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| 11,474 |
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| 12,318 |
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| 47,539 |
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| 46,250 |
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Property, plant and equipment write off |
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| - |
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| - |
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| 10,592 |
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| - |
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Interest expenses on lease liabilities |
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| 492 |
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| 1,385 |
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| 4,122 |
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| 3,607 |
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|
| 440,833 |
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| 403,107 |
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|
| 1,134,061 |
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| 1,131,005 |
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Selected Balance Sheet Information
The figures reported below are based on the unaudited consolidated financial statements of the Corporation which have been prepared in accordance with IFRS Accounting Standards.
| March 31, 2026 (Unaudited) $ |
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| December 31, 2025 (Audited) $ |
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Current Assets |
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Accounts receivable |
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| 567,830 |
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| 578,804 |
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Deposits and prepayments |
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| 42,294 |
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| 39,875 |
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Current tax assets |
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| - |
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| - |
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Bank and cash balances |
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| 90,803 |
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| 156,385 |
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| 700,927 |
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| 775,064 |
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Non-Current Assets |
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Property, plant and equipment |
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| 7,039 |
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| 8,481 |
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Right-of-use assets |
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| 19,134 |
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| 31,355 |
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TOTAL ASSETS |
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| 727,100 |
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| 814,900 |
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Current Liabilities |
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Accounts payable and accrued liabilities |
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| 823,059 |
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| 815,278 |
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Advances from related parties |
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| 1,198,879 |
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| 1,091,163 |
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Loans from related parties |
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| 1,471,453 |
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| 1,458,077 |
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Promissory note payable |
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| 580,000 |
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| 580,000 |
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Lease liabilities |
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| 12,194 |
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| 24,761 |
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TOTAL LIABILITIES |
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| 4,085,585 |
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| 3,969,279 |
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Equity |
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Share capital |
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| 15,148,160 |
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| 15,148,160 |
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Deficit |
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| (18,795,016 | ) |
|
| (18,484,945 | ) |
Accumulated other comprehensive income |
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| 307,600 |
|
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| 200,274 |
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Total deficiency attributable to equity shareholders of the Corporation |
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| (3,339,256 | ) |
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| (3,136,511 | ) |
Non-controlling interests |
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| (19,229 | ) |
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| (17,868 | ) |
TOTAL DEFICIENCY |
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| (3,358,485 | ) |
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| (3,154,379 | ) |
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TOTAL LIABILITIES & EQUITY |
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| 727,100 |
|
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| 814,900 |
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Total assets of GINSMS including bank and cash balances, accounts receivable, deposits and prepayments, current tax assets, property, plant and equipment and right-of-use assets as at March 31, 2026 amounted to $727,100 compared to $814,900 as at December 31, 2025. Bank and cash balances amounted to $90,803 as at March 31, 2026, a decrease of 41.9% compared to $156,385 as at December 31, 2025. The decrease was mainly due to more net cash outflow from operating activities, and less net cash inflow from financing activities during the period.
About GINSMS
GINSMS is a mobile technology and services company with a diversified focus on Application-to-Person (A2P) Messaging Services and Software Products and Services.
A2P Messaging Service
Through its cloud-based platform, GINSMS enables the delivery of SMS messages to mobile subscribers across more than 200 mobile operators worldwide. While this business has provided global connectivity, GINSMS faces sustained competitive pressures and uncertain profitability.
Software Products and Services
GINSMS designs, develops, and distributes innovative software solutions for mobile operators and enterprises. With more than 100 successful deployments worldwide, the company has established a proven track record in delivering scalable and reliable technologies. Leveraging cost-efficient development hubs in Indonesia and Malaysia, GINSMS continues to expand its customer base and strengthen its position in the enterprise solutions market.
Global
Headquartered in Asia, GINSMS maintains offices in China, Singapore, Hong Kong, Malaysia, and Indonesia, providing regional expertise and supporting cross-border technology deployments.
For further information, please contact:
GINSMS Inc.
Joel Chin, CEO
Tel: +65-6441-1029
Email: investor.relations@ginsms.com
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: GINSMS, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/telecommunications/ginsms-announces-financial-results-for-the-three-months-ended-march-31-2026-1166084
