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Side-by-side financial comparison of TREASURE GLOBAL INC (TGL) and Tivic Health Systems, Inc. (TIVC). Click either name above to swap in a different company.
TREASURE GLOBAL INC is the larger business by last-quarter revenue ($182.5K vs $146.0K, roughly 1.3× Tivic Health Systems, Inc.). TREASURE GLOBAL INC runs the higher net margin — -1169.1% vs -1778.1%, a 609.0% gap on every dollar of revenue. On growth, Tivic Health Systems, Inc. posted the faster year-over-year revenue change (15.9% vs -12.0%). Tivic Health Systems, Inc. produced more free cash flow last quarter ($-2.0M vs $-2.4M). Over the past eight quarters, Tivic Health Systems, Inc.'s revenue compounded faster (-36.0% CAGR vs -83.5%).
Treasure Global Inc is a consumer technology company offering integrated digital commerce solutions, customer loyalty rewards programs, and cashless payment services. It primarily operates across Southeast Asian markets, serving individual users and small-to-medium enterprise clients.
Tivic Health Systems, Inc. is a medical technology firm that develops and sells non-invasive, drug-free bioelectronic devices for chronic health condition management. Its flagship product relieves sinus pain and congestion, serving US consumer healthcare markets, with ongoing R&D for new devices targeting other common ailments.
TGL vs TIVC — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $182.5K | $146.0K |
| Net Profit | $-2.1M | $-2.6M |
| Gross Margin | 0.7% | -99.3% |
| Operating Margin | -953.5% | -1700.7% |
| Net Margin | -1169.1% | -1778.1% |
| Revenue YoY | -12.0% | 15.9% |
| Net Profit YoY | -124.5% | -81.4% |
| EPS (diluted) | $-0.38 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 25 | $182.5K | $146.0K | ||
| Q2 25 | $1.2M | $86.0K | ||
| Q1 25 | $666.5K | $70.0K | ||
| Q4 24 | $301.9K | $180.0K | ||
| Q3 24 | $207.4K | $126.0K | ||
| Q2 24 | $293.0K | $140.0K | ||
| Q1 24 | $1.6M | $334.0K | ||
| Q4 23 | $6.7M | $357.0K |
| Q3 25 | $-2.1M | $-2.6M | ||
| Q2 25 | — | $-1.9M | ||
| Q1 25 | $1.3M | $-1.5M | ||
| Q4 24 | $-232.3K | $-1.5M | ||
| Q3 24 | $-950.7K | $-1.4M | ||
| Q2 24 | — | $-1.3M | ||
| Q1 24 | $-1.7M | $-1.5M | ||
| Q4 23 | $-1.2M | $-2.2M |
| Q3 25 | 0.7% | -99.3% | ||
| Q2 25 | 68.2% | 62.8% | ||
| Q1 25 | 73.0% | 71.4% | ||
| Q4 24 | 74.2% | -132.8% | ||
| Q3 24 | 83.0% | 34.9% | ||
| Q2 24 | 31.0% | 21.4% | ||
| Q1 24 | 13.6% | 50.0% | ||
| Q4 23 | 5.1% | 1.4% |
| Q3 25 | -953.5% | -1700.7% | ||
| Q2 25 | — | -2248.8% | ||
| Q1 25 | -6.5% | -2151.4% | ||
| Q4 24 | -229.5% | -165.6% | ||
| Q3 24 | -391.4% | -1135.7% | ||
| Q2 24 | — | -904.3% | ||
| Q1 24 | -85.9% | -443.4% | ||
| Q4 23 | -16.2% | -628.6% |
| Q3 25 | -1169.1% | -1778.1% | ||
| Q2 25 | — | -2245.3% | ||
| Q1 25 | 189.0% | -2145.7% | ||
| Q4 24 | -77.0% | -820.6% | ||
| Q3 24 | -458.5% | -1135.7% | ||
| Q2 24 | — | -904.3% | ||
| Q1 24 | -107.3% | -443.4% | ||
| Q4 23 | -17.9% | -628.3% |
| Q3 25 | $-0.38 | — | ||
| Q2 25 | — | $-2.19 | ||
| Q1 25 | $1.09 | $-2.52 | ||
| Q4 24 | $-11.32 | $3.07 | ||
| Q3 24 | $-17.62 | $-0.23 | ||
| Q2 24 | — | $-5.37 | ||
| Q1 24 | $-116.03 | $-17.15 | ||
| Q4 23 | $-2.22 | $-157.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $3.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $12.0M | $3.4M |
| Total Assets | $16.6M | $6.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $3.5M | ||
| Q2 25 | — | $1.2M | ||
| Q1 25 | $2.5K | $669.0K | ||
| Q4 24 | $504.3K | $2.0M | ||
| Q3 24 | $44.1K | $2.2M | ||
| Q2 24 | $171.6K | $3.7M | ||
| Q1 24 | — | $1.7M | ||
| Q4 23 | — | $3.4M |
| Q3 25 | $12.0M | $3.4M | ||
| Q2 25 | $10.7M | $3.3M | ||
| Q1 25 | $29.1M | $3.0M | ||
| Q4 24 | $18.4M | $2.5M | ||
| Q3 24 | $6.3M | $2.8M | ||
| Q2 24 | $3.4M | $4.2M | ||
| Q1 24 | $3.1M | $2.2M | ||
| Q4 23 | $3.7M | $3.6M |
| Q3 25 | $16.6M | $6.2M | ||
| Q2 25 | $14.9M | $4.5M | ||
| Q1 25 | $30.4M | $3.8M | ||
| Q4 24 | $19.1M | $2.8M | ||
| Q3 24 | $7.1M | $3.4M | ||
| Q2 24 | $4.3M | $4.8M | ||
| Q1 24 | $4.2M | $3.3M | ||
| Q4 23 | $4.9M | $5.2M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.8M | $-2.0M |
| Free Cash FlowOCF − Capex | $-2.4M | $-2.0M |
| FCF MarginFCF / Revenue | -1318.2% | -1374.0% |
| Capex IntensityCapex / Revenue | 353.3% | 6.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-1.8M | $-2.0M | ||
| Q2 25 | $-9.5M | $-1.8M | ||
| Q1 25 | $-4.2M | $-889.0K | ||
| Q4 24 | $-606.2K | $-1.4M | ||
| Q3 24 | $-976.3K | $-1.4M | ||
| Q2 24 | $-4.7M | $-1.3M | ||
| Q1 24 | $-1.1M | $-1.7M | ||
| Q4 23 | $-1.2M | $-1.8M |
| Q3 25 | $-2.4M | $-2.0M | ||
| Q2 25 | $-9.5M | — | ||
| Q1 25 | $-4.2M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-4.7M | — | ||
| Q1 24 | $-1.1M | — | ||
| Q4 23 | $-1.2M | — |
| Q3 25 | -1318.2% | -1374.0% | ||
| Q2 25 | -822.4% | — | ||
| Q1 25 | -635.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -1614.2% | — | ||
| Q1 24 | -67.1% | — | ||
| Q4 23 | -17.9% | — |
| Q3 25 | 353.3% | 6.8% | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.7% | — | ||
| Q1 24 | 0.0% | — | ||
| Q4 23 | 0.1% | 0.0% |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -3.36× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
