Society Pass Incorporated. (NASDAQ: SOPA)

Sector: Technology Industry: Software - Application CIK: 0001817511
Market Cap 11.97 Mn
P/B 0.86
P/E -1.13
P/S 1.66
ROIC (Qtr) -115.65
Div Yield % 0.00
Rev 1y % (Qtr) -17.63
Total Debt (Qtr) 963,204.00
Debt/Equity (Qtr) 0.07

About

Society Pass Incorporated, known by its ticker symbol SOPA, is a Nevada-based corporation that operates in the thriving Southeast Asian (SEA) market. The company's primary focus lies in creating a next-generation digital ecosystem and loyalty platform, encompassing a variety of sectors such as fintech, e-commerce, telecommunications, digital media, and travel. Society Pass Incorporated has established a presence in Singapore, Vietnam, Indonesia, the Philippines, and Thailand, making it a significant player in the region's digital landscape. In...

Read more

Price action

Investment thesis

Bull case

  • Healthy cash reserves of 6.60M provide 16.99x coverage of short-term debt 388699, demonstrating strong liquidity position and minimal refinancing risk.
  • Operating cash flow of (18.87M) provides exceptional 197.45x coverage of minority interest expenses (95570), showing strong core operations.
  • Strong tangible asset base of 27.83M provides 28.89x coverage of total debt 963204, indicating robust asset backing and low credit risk.
  • Tangible assets of 27.83M provide exceptional 37.08x coverage of deferred revenue 750528, showing strong service capability backing.
  • Operating cash flow of (18.87M) fully covers other non-current liabilities (681528) by 27.69x, showing strong long-term stability.

Bear case

  • Investment activities of (24096) provide weak support for R&D spending of 53184, which is -0.45x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Operating cash flow of (18.87M) provides insufficient coverage of deferred revenue obligations of 750528, which is -25.14x, raising concerns about future service delivery capabilities.
  • The company's operating cash flow of (18.87M) shows concerning coverage of stock compensation expenses of 1.11M, with a -16.97 ratio indicating potential earnings quality issues.
  • High receivables of 1.34M relative to inventory of 82131 (16.28 ratio) suggests aggressive credit terms or collection difficulties, potentially masking revenue quality issues.
  • Free cash flow of (18.89M) provides weak coverage of capital expenditures of 24096, with a -784.11 ratio suggesting additional external financing needs for growth initiatives.

Timing of Transfer of Good or Service Breakdown of Revenue (2024)

Subsegments Breakdown of Revenue (2024)

Peer comparison

Companies in the Software - Application
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SAP Sap Se 288.31 Bn 34.60 6.72 10.73 Bn
2 CRM Salesforce, Inc. 248.32 Bn 34.38 6.16 11.14 Bn
3 SHOP Shopify Inc. 212.27 Bn 119.19 19.85 1.12 Bn
4 INTU Intuit Inc. 180.73 Bn 43.89 9.30 6.78 Bn
5 UBER Uber Technologies, Inc 178.38 Bn 10.72 3.60 12.19 Bn
6 NOW ServiceNow, Inc. 146.98 Bn 84.91 11.60 2.40 Bn
7 ADBE Adobe Inc. 144.48 Bn 20.77 6.23 6.64 Bn
8 ADP Automatic Data Processing Inc 108.20 Bn 26.16 5.18 9.77 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.14 2.65
EV to Cash from Ops. EV/CFO -0.24 13.37
EV to Debt EV to Debt 4.70 57.69
EV to EBIT EV/EBIT -0.44 19.12
EV to EBITDA EV/EBITDA -0.46 15.00
EV to Free Cash Flow [EV/FCF] EV/FCF -0.24 14.69
EV to Market Cap EV to Market Cap 0.38 -92.28
EV to Revenue EV/Rev 0.63 4.60
Price to Book Value [P/B] P/B 0.86 4.26
Price to Earnings [P/E] P/E -1.13 -136.90
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -3.95
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 4.25
Dividend per Basic Share Div per Share (Qtr) 0.00 0.15
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 2.52
Interest Coverage Int. cover (Qtr) -92.04 -52.32
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 44.97 -259.78
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 54.47 9,763.58
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 1.61
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 11.37 -263.15
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 7.06 56.46
EBIT Growth (1y) % EBIT 1y % (Qtr) 11.54 -225.15
EBT Growth (1y) % EBT 1y % (Qtr) 10.89 -86.10
EPS Growth (1y) % EPS 1y % (Qtr) 53.23 123.84
FCF Growth (1y) % FCF 1y % (Qtr) -255.68 -36.82
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 68.12 95.08
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.22 0.58
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.02
Cash Ratio Cash Ratio (Qtr) 0.35 3.75
Current Ratio Curr Ratio (Qtr) 1.41 8.16
Debt to Equity Ratio Debt/Equity (Qtr) 0.07 0.17
Interest Cover Ratio Int Coverage (Qtr) -92.04 -52.32
Times Interest Earned Times Interest Earned (Qtr) -92.04 -52.32
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -135.00 -100.06
EBIT Margin % EBIT Margin % (Qtr) -143.18 -164.24
EBT Margin % EBT Margin % (Qtr) -144.73 -116.94
Gross Margin % Gross Margin % (Qtr) 45.70 58.20
Net Profit Margin % Net Margin % (Qtr) -146.00 -121.65