Greenpro Capital Corp. Reports 46.4% Revenue Decline and Increased Net Loss in Q1 2025

Greenpro Capital Corp. reported a significant decline in financial performance for the first quarter of 2025, with total revenues of $352,755, down from $658,399 in the same period of 2024. This represents a decrease of approximately 46.4%. The decline was primarily attributed to a substantial drop in service revenue, which fell to $310,853 from $633,792 year-over-year. The company also generated $26,256 in digital revenue, a new revenue stream that did not exist in the previous year, and rental revenue decreased to $15,646 from $24,607.

The company's net loss for the quarter was $635,576, compared to a net loss of $272,910 in the first quarter of 2024, marking an increase in losses of 133.3%. The loss from operations also increased to $688,933 from $473,713, driven by higher general and administrative expenses, which totaled $948,046, down from $1,051,238 in the prior year. The increase in losses was largely due to the significant drop in service revenue and a rise in costs associated with service delivery.

In terms of operational developments, Greenpro Capital Corp. has been focusing on expanding its digital business segment through its subsidiary, Green-X Corp., which operates a digital asset exchange. The company has also made strategic moves in its real estate segment, acquiring full ownership of Forward Win International Limited, which previously had non-controlling interests. This acquisition is expected to streamline operations and enhance profitability in the real estate sector.

As of March 31, 2025, the company reported total assets of $6,319,391, a decrease from $6,473,923 at the end of 2024. Current liabilities increased significantly to $1,731,800 from $1,269,400, largely due to a rise in deferred revenue, which jumped to $722,908 from $213,000. The company’s cash and cash equivalents also decreased to $885,924 from $1,124,818, raising concerns about liquidity and the ability to meet short-term obligations.

Looking ahead, Greenpro Capital Corp. faces challenges in regaining compliance with NASDAQ's minimum bid price requirement, as it received a notice of non-compliance in April 2025. The company has until October 8, 2025, to meet the requirement. Management is optimistic about exploring new markets to recover service revenue and is focused on improving profitability through strategic initiatives in its digital and real estate segments. However, the company acknowledges that its ability to continue as a going concern is contingent upon improving financial performance and securing ongoing support from shareholders.