Global Technologies Reports 121.9% Revenue Growth but Faces Net Loss and Financial Challenges

Global Technologies, Ltd. reported significant financial changes in its latest 10-Q filing for the quarter ending March 31, 2025. The company generated revenues of $1,001,944 for the three months ended March 31, 2025, a substantial increase of 121.9% compared to $451,509 in the same period last year. For the nine months ending March 31, 2025, total revenues reached $2,588,452, marking a 473.3% increase from $451,509 in the prior year. However, the company reported a net loss of $193,197 for the quarter, a stark contrast to the net income of $2,756,900 recorded in the same quarter of 2024. The nine-month net income also decreased to $250,059 from $526,230 year-over-year.

The financial performance reflects a notable increase in operating expenses, which rose to $241,380 for the three months ended March 31, 2025, compared to $113,257 in the previous year. This increase was driven primarily by higher costs associated with consulting and marketing services, as well as executive compensation. The company’s gross profit for the quarter was $53,991, down from $87,310 in the prior year, indicating challenges in managing costs relative to revenue growth.

Strategically, Global Technologies has shifted its focus from electric vehicle (EV) infrastructure, represented by its subsidiary GOe3, to health and wellness initiatives through 10 Fold Services, LLC. This pivot comes in response to market saturation and operational challenges within the EV sector. The company has decided to limit further investments in GOe3, which has faced significant operational headwinds, including delays in software development and changes in federal policy affecting EV infrastructure funding. As a result, the company recorded a goodwill impairment of $3,842,818 related to the GOe3 acquisition.

Operationally, Global Technologies has seen a rise in accounts receivable, which increased to $450,738 as of March 31, 2025, from $184,692 a year earlier. The company’s cash position has also deteriorated, with cash and cash equivalents dropping to $29,913 from $115,747 at the end of the previous fiscal year. The company reported a net cash inflow from operating activities of $302,506 for the nine months ended March 31, 2025, but faced cash outflows from investing and financing activities, leading to an overall decrease in cash.

Looking ahead, Global Technologies aims to enhance liquidity through revenue expansion and cost optimization strategies. However, the company acknowledges substantial doubt about its ability to continue as a going concern, given its accumulated deficit of $166,416,237 and ongoing negative cash flows. Management is actively pursuing additional funding sources and partnerships to stabilize its financial position, but the success of these efforts remains uncertain.