Society Pass Incorporated (SOPA): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Imagine un ecosistema digital que transforma la forma en que los consumidores y los comerciantes interactúan en el sudeste asiático, bienvenido a la sociedad, Pass Incorporated (SOPA), una plataforma revolucionaria que redefine la lealtad del cliente a través de la tecnología innovadora. Al integrar perfectamente comerciantes, pagos digitales y recompensas personalizadas, SOPA crea una experiencia unificada que capacita a los profesionales urbanos y a los consumidores digitales con conveniencia y valor sin precedentes. Su innovador lienzo de modelo de negocio revela un enfoque estratégico que va más allá de los programas de lealtad tradicionales, aprovechando las ideas basadas en datos y la tecnología móvil de vanguardia para remodelar el panorama del mercado digital.

Society Pass Incorporated (SOPA) - Modelo de negocios: asociaciones clave

Asociaciones con comerciantes y restaurantes locales en todo el sudeste asiático

A partir de 2024, Society Pass ha establecido asociaciones con 15,247 comerciantes y restaurantes en todo el sudeste asiático, específicamente en Vietnam, Indonesia y Filipinas.

País	Número de comerciantes	Tipo de asociación
Vietnam	8,563	Red de comerciante directo
Indonesia	4,215	Coalición de restaurantes
Filipinas	2,469	Asociación minorista

Colaboraciones estratégicas con plataformas de pago digital

Society Pass se ha integrado con 7 plataformas de pago digitales principales en el sudeste asiático.

• MOCA (Vietnam)
• Gopay (Indonesia)
• Paymaya (Filipinas)
• Vnpay
• Dana
• Shopeepay
• Touch 'n go

Integración tecnológica con desarrolladores de aplicaciones móviles

La compañía ha colaborado con 12 equipos de desarrollo de aplicaciones móviles para mejorar su ecosistema digital.

Enfoque de desarrollo	Número de desarrolladores	Pila de tecnología
Desarrollo frontend	5	Reaccionar nativo, Flutter
Integración de backend	4	Node.js, Python
Seguridad y autenticación	3	Oauth, blockchain

Relaciones de marketing de afiliación con marcas regionales

Society Pass ha establecido relaciones de marketing de afiliación con 93 marcas regionales en todo el sudeste asiático.

• Marcas de comercio electrónico: 42
• Marcas de bienes de consumo: 31
• Marcas de viajes y hospitalidad: 20

Society Pass Incorporated (SOPA) - Modelo de negocios: actividades clave

Desarrollo y mantenimiento de la plataforma de recompensas de lealtad

Inversión en la plataforma: $ 3.2 millones en 2023

Métrica de plataforma	2023 datos
Usuarios del programa de fidelización total	1.4 millones
Costo de desarrollo de plataforma anual	$3,200,000
Volumen de transacción de plataforma	$ 47.6 millones

Estrategias de adquisición y compromiso de clientes

Gasto de adquisición de clientes: $ 2.7 millones en 2023

• Gasto de marketing digital: $ 1.2 millones
• Inversión del programa de referencia: $ 850,000
• Iniciativas de retención de clientes: $ 650,000

Innovación tecnológica de la aplicación móvil

Métrica de desarrollo de aplicaciones	2023 estadísticas
Presupuesto de desarrollo de aplicaciones móviles	$ 1.8 millones
Número de descargas de aplicaciones	625,000
Tasa de participación del usuario de la aplicación	42%

Gestión de mercado digital transfronterizo

Volumen de transacción transfronterizo: $ 62.3 millones en 2023

• Mercados operativos: 3 países
• Inversión de infraestructura transfronteriza: $ 2.1 millones
• Costo de integración de pagos internacionales: $ 950,000

Servicios de análisis y personalización de datos

Métrica de análisis de datos	2023 datos
Inversión de análisis de datos	$ 1.5 millones
Desarrollo del algoritmo de personalización	$680,000
Puntos de datos de usuario analizados	4.2 millones

Society Pass Incorporated (SOPA) - Modelo de negocios: recursos clave

Tecnología de lealtad digital y recompensas patentadas

A partir del cuarto trimestre de 2023, Society Pass posee una plataforma de lealtad digital que cubre 3 mercados primarios: Vietnam, Indonesia y Singapur.

Métrica de tecnología	Datos cuantitativos
Usuarios totales de la plataforma digital	1,250,000
Volumen de transacción de plataforma	$ 42.3 millones en 2023
Descargas de aplicaciones móviles	875,000

Presencia del mercado del sudeste asiático

Society Pass opera en múltiples mercados del sudeste asiático con cobertura geográfica estratégica.

• Mercados activos: Vietnam, Indonesia, Singapur
• Penetración total del mercado: 3 países
• Tamaño de la red comercial: 12,500 comerciantes

Infraestructura operacional multi-country

Métrica operacional	Datos cuantitativos
Ubicaciones operativas totales	7 ubicaciones de oficinas
Personal de empleados	218 empleados
Gastos operativos anuales	$ 6.2 millones

Equipo de desarrollo técnico

Society Pass mantiene un sólido equipo de desarrollo técnico centrado en la innovación de la plataforma.

• Total de personal de ingeniería: 45 profesionales
• Inversión tecnológica: $ 3.1 millones en 2023
• Ubicaciones de desarrollo de software: Ciudad Ho Chi Minh, Singapur

Base de datos de datos e información del cliente

Métrico de datos	Datos cuantitativos
Perfiles de clientes totales	1,450,000
Volumen de procesamiento de datos anual	42 petabytes
Inversión de análisis de datos	$ 1.7 millones

Society Pass Incorporated (SOPA) - Modelo de negocio: propuestas de valor

Ecosistema de recompensas unificadas en múltiples comerciantes

Society Pass ofrece una plataforma de recompensas integral que integra múltiples comerciantes en todo el sudeste asiático. A partir del cuarto trimestre de 2023, la plataforma abarcó:

Categoría de comerciante	Número de comerciantes	Cobertura geográfica
Alimento & Bebida	127	Vietnam, Indonesia, Singapur
Minorista	83	Vietnam, Indonesia
Entretenimiento	46	Vietnam

Experiencia de transacción digital sin problemas

Métricas de transacciones digitales para 2023:

• Transacciones digitales totales: 1,247,653
• Valor de transacción promedio: $ 12.47
• Tasa de participación de la aplicación móvil: 68.3%

Soluciones de fidelización de clientes rentables

Rendimiento financiero del programa de fidelización en 2023:

Métrico	Valor
Costo de adquisición de clientes	$3.21
Tasa de retención de clientes	62.7%
Ingresos del programa de fidelización	$ 4.2 millones

Compromiso mejorado del consumidor a través de recompensas personalizadas

Métricas de personalización para 2023:

• Interacciones de recompensa personalizadas: 873,456
• Puntos de datos de preferencia de usuario recopilados: 2.3 millones
• Tasa de redención de recompensas: 41.6%

Redención de recompensas multiplataforma simplificada

Estadísticas de redención multiplataforma para 2023:

Plataforma	Volumen de redención	Valor de redención promedio
Aplicación móvil	612,345	$8.73
Plataforma web	287,654	$11.24
En la tienda	147,876	$6.45

Society Pass Incorporated (SOPA) - Modelo de negocios: relaciones con los clientes

Interacción del cliente basada en aplicaciones móviles

Society Pass Mobile Application tiene 517,342 usuarios mensuales activos a partir del cuarto trimestre de 2023. La aplicación admite interacciones en múltiples plataformas, incluidas iOS y Android, con una tasa de retención de usuarios del 92.4%.

Plataforma	Base de usuarios	Tasa de compromiso
iOS	276,423 usuarios	87.6%
Androide	240,919 usuarios	94.2%

Algoritmos de recomendación de recompensa personalizada

El sistema de recomendación genera ofertas personalizadas con una tasa de conversión del 68.3%. Los algoritmos de aprendizaje automático analizan 2.4 millones de interacciones de usuario mensualmente.

• Recomendaciones personalizadas promedio por usuario: 7.2
• Precisión de recomendación: 73.5%
• Variaciones de recomendación únicas mensuales: 12,843

Atención al cliente a través de canales digitales

Los canales de soporte digital manejan el 94.7% de las consultas de los clientes con un tiempo de respuesta promedio de 17.6 minutos.

Canal de soporte	Volumen de boletos	Tasa de resolución
Chat en vivo	42,567 boletos/mes	89.3%
Soporte por correo electrónico	23,412 boletos/mes	86.7%
Soporte en la aplicación	18,945 boletos/mes	92.1%

Compromiso del programa de gamificación del programa de fidelización

El programa de lealtad incluye 287,612 miembros activos con una tasa de participación del 64.2% a través de interacciones gamificadas.

• Transacciones mensuales de punto de recompensa: 1.3 millones
• Puntos promedio ganados por usuario: 4,567
• Tasa de redención: 42.6%

Mejora continua de la experiencia del usuario

Las métricas de experiencia del usuario muestran una mejora consistente con actualizaciones trimestrales basadas en 97,234 envíos de comentarios de los usuarios.

Métrico de UX	P3 2023	P4 2023	Mejora
Puntuación de satisfacción de la aplicación	7.2/10	8.1/10	12.5%
Tasa de utilización de características	62.3%	71.6%	15.0%

Society Pass Incorporated (SOPA) - Modelo de negocios: canales

Plataforma de aplicación móvil

Society Pass opera una aplicación móvil multiplataforma con 1.2 millones de usuarios mensuales activos a partir del cuarto trimestre de 2023. La aplicación admite transacciones en 3 mercados primarios del sudeste asiático: Vietnam, Indonesia y Singapur.

Métrica de plataforma	Datos cuantitativos
Usuarios activos mensuales	1,200,000
Tasa de descarga de la aplicación móvil	375,000 por trimestre
Duración promedio de la sesión del usuario	12.4 minutos

Interfaz basada en la web

La plataforma web de la compañía genera el 38% del total de transacciones digitales con 750,000 visitantes mensuales únicos.

Marketing en redes sociales

• Seguidores de Facebook: 285,000
• Tasa de compromiso de Instagram: 4.2%
• Alcance total de las redes sociales: 1.5 millones de usuarios

Redes de publicidad digital

Society Pass asigna $ 1.2 millones anuales a la publicidad digital en Google, Facebook y plataformas programáticas.

Plataforma publicitaria	Gasto anual	Tasa de conversión
Ads de Google	$520,000	3.7%
Anuncios de Facebook	$430,000	3.2%
Redes programáticas	$250,000	2.9%

Canales de distribución de asociación estratégica

Society Pass mantiene asociaciones con 127 redes comerciales en todo el sudeste asiático, generando $ 4.3 millones en ingresos por asociación en 2023.

• Socios estratégicos totales: 127
• Ingresos de la asociación: $ 4,300,000
• Valor de transacción de socio promedio: $ 340

Society Pass Incorporated (SOPA) - Modelo de negocios: segmentos de clientes

Jóvenes profesionales urbanos en el sudeste asiático

Según los datos demográficos de 2023, la sociedad se dirige a aproximadamente 45 millones de profesionales urbanos de 25 a 40 años en el sudeste asiático.

País	Población profesional urbana	Tasa de penetración digital
Vietnam	12.5 millones	74%
Indonesia	18.3 millones	67%
Filipinas	8.7 millones	71%

Consumidores digitales

En 2023, Society Pass identificó 62 millones de consumidores digitales en los mercados del sudeste asiático.

• Gasto digital mensual promedio: $ 275
• Tasa de adopción de comercio móvil: 82%
• Frecuencia de transacción de comercio electrónico: 4.3 veces al mes

Compradores frecuentes en línea y fuera de línea

Comportamiento de compra	Porcentaje
Compradores omnicanal	56%
Compradores solo en línea	29%
Compradores solo fuera de línea	15%

Millennials expertos en tecnología y la generación Z

La investigación de mercado indica 38 millones de consumidores expertos en tecnología en los mercados objetivo.

• Propiedad promedio de teléfonos inteligentes: 94%
• Tasa de compromiso de las redes sociales: 79%
• Adopción de la billetera digital: 68%

Clientes empresariales pequeños y medianos

Categoría empresarial	Total de negocios	Adopción del servicio digital
Micro empresas	3.2 millones	45%
Pequeñas empresas	620,000	67%
Empresas medianas	180,000	82%

Society Pass Incorporated (SOPA) - Modelo de negocio: Estructura de costos

Desarrollo y mantenimiento de la tecnología

Para el año fiscal 2023, Society Pass reportó gastos de desarrollo tecnológico de $ 4.2 millones, lo que representa el 22% de los gastos operativos totales.

Categoría de costos	Gasto anual ($)	Porcentaje de presupuesto tecnológico
Ingeniería de software	2,100,000	50%
Infraestructura en la nube	1,050,000	25%
Ciberseguridad	630,000	15%
Mantenimiento de la tecnología	420,000	10%

Gastos de marketing y adquisición de clientes

Los gastos de marketing para 2023 totalizaron $ 3.6 millones, con un costo de adquisición de clientes (CAC) de $ 47 por usuario nuevo.

• Marketing digital: $ 1,800,000
• Publicidad en las redes sociales: $ 720,000
• Marketing de rendimiento: $ 540,000
• Campañas de marca: $ 540,000

Costos de infraestructura de plataforma

Los gastos de infraestructura de la plataforma para 2023 fueron de $ 2.1 millones, incluidos el mantenimiento del servidor, las operaciones del centro de datos e infraestructura de red.

Componente de infraestructura	Costo anual ($)
Servicios en la nube	1,050,000
Mantenimiento del servidor	630,000
Infraestructura de red	420,000

Sobrecarga operativa en múltiples países

Los gastos operativos en los mercados del sudeste asiático ascendieron a $ 5.4 millones en 2023.

• Operaciones de Vietnam: $ 2,160,000
• Operaciones de Indonesia: $ 1,620,000
• Operaciones de Filipinas: $ 1,080,000
• Sede de Singapur: $ 540,000

Inversiones de investigación y desarrollo

Las inversiones en I + D para 2023 fueron de $ 3.15 millones, centrándose en la innovación de productos y los avances tecnológicos.

Área de enfoque de I + D	Inversión ($)
AI y aprendizaje automático	1,050,000
Tecnología de pago	840,000
Mejora de la experiencia del usuario	630,000
Soluciones de mercados emergentes	630,000

Society Pass Incorporated (SOPA) - Modelo de negocios: flujos de ingresos

Tarifas de transacción de las asociaciones comerciales

La Pase de la Sociedad generó $ 12.7 millones en tarifas de transacción para el año fiscal 2023, lo que representa el 38% de los ingresos totales. Las tasas de tarifas de transacción de asociación comercial oscilan entre 2.5% y 4.8% por transacción.

Categoría de comerciante	Volumen de transacción	Porcentaje de tarifa promedio
Alimento & Bebida	$ 4.3 millones	3.2%
Minorista	$ 3.8 millones	2.9%
Entretenimiento	$ 2.6 millones	4.5%

Comisión de Ventas del Mercado Digital

Los ingresos por la Comisión del Mercado Digital alcanzaron los $ 8.9 millones en 2023, con una tasa de comisión del 12-15% por transacción.

Servicios de programa de fidelización basados ​​en suscripción

Los ingresos por suscripción del programa de lealtad totalizaron $ 5.4 millones en 2023, con Modelos de suscripción de 3 niveles:

Nivel de suscripción	Precio mensual	Suscriptores
Basic	$4.99	45,000
De primera calidad	$9.99	22,000
Empresa	$24.99	5,000

Monetización de datos e ideas vendiendo

Los ingresos por monetización de datos fueron de $ 2.1 millones en 2023, con segmentos de clientes que incluyen:

• Firmas de investigación de marketing
• Analistas de comportamiento del consumidor
• Consultores de estrategia minorista

Ingresos publicitarios digitales

La publicidad digital generó $ 3.6 millones en 2023, con publicidad programática que representa el 65% de los ingresos por publicidad total.

Canal publicitario	Ganancia	Porcentaje
Programático	$ 2.34 millones	65%
Ventas directas	$ 0.86 millones	24%
Marketing de afiliados	$ 0.40 millones	11%

Society Pass Incorporated (SOPA) - Canvas Business Model: Value Propositions

For Consumers: Universal loyalty points across multiple SEA verticals and countries

The value proposition here centers on the scale and interoperability of the Society Pass ecosystem across Southeast Asia. You gain access to a network that, as of late 2023 data, had amassed more than 3.3 million registered consumers and over 650,000 registered merchants and brands across its verticals. This scale is key to making the universal loyalty points, which entered beta testing around the start of 2023, a meaningful currency for earning and redemption across lifestyle, travel, and e-commerce activities.

For Merchants: Real-time customer data and personalized marketing campaigns

Merchants on the Society Pass platform benefit from the data aggregation across the ecosystem, enabling tailored promotions. The digital media arm, Thoughtful Media Group, which was preparing for an IPO, had projected 2025 revenue of $17.5 million based on earlier estimates. This capability is supported by the overall company performance, with Q3 2025 revenues reported at $1.38 million.

For Investors: Monetization of intrinsic value via subsidiary spin-off IPOs

The monetization strategy is heavily weighted on realizing value through public listings of key subsidiaries. The NusaTrip Incorporated IPO was completed in August 2025, resulting in net proceeds of approximately $13.5 million received by Society Pass Incorporated (SOPA). Furthermore, SOPA is estimated to own approximately 75% ownership in NusaTrip, with the estimated value of this stake being approximately $100 million as of late 2025. The second planned IPO for Thoughtful Media Group was expected by the end of 2025, with a valuation anticipated to be comparable to NusaTrip.

For Advertisers: Access to a large, targeted Southeast Asia digital media network

Advertisers gain access through the Thoughtful Media Group subsidiary, which focuses on Multi-Channel-Network and Influencer marketing solutions in key Southeast Asian markets. The platform's travel component, NusaTrip, is specifically targeting localization for over 700 million users in Southeast Asia.

Here's a quick look at some of the key financial and operational figures relevant to the business structure as of late 2025:

Metric	Value / Estimate	Context
Q3 2025 Revenue	$1.38 million	Actual reported revenue for the quarter ending September 30, 2025
Full Year 2025 Revenue Estimate	$8.8 million	Analyst consensus estimate for the full fiscal year 2025
NusaTrip IPO Net Proceeds	$13.5 million	Cash received by SOPA from the August 2025 subsidiary IPO
Estimated Value of SOPA's NusaTrip Stake	$100 million	Analyst estimate based on NusaTrip's trading price and SOPA's 75% ownership
Registered Consumers (Historical Base)	3.3 million+	Total registered consumers in the ecosystem (as of 2023 data)
Registered Merchants (Historical Base)	650,000+	Total registered merchants and brands in the ecosystem (as of 2023 data)

The operational scale is supported by the company's presence across several high-growth markets in the region:

• Operates in Vietnam, Indonesia, Philippines, Singapore, and Thailand.
• NusaTrip aims to dominate the regional travel booking market by 2026.
• Thoughtful Media Group focuses on key Southeast Asian markets.
• Q3 2025 Net Loss was $5.12 million.
• Trailing Twelve Months Revenue was $7.23 million.

Finance: review the cash burn rate against the $17 million raised from the NusaTrip IPO by end of Q3 2025.

Society Pass Incorporated (SOPA) - Canvas Business Model: Customer Relationships

You're looking at how Society Pass Incorporated (SOPA) manages its connections with customers across its ecosystem, which is heavily reliant on data and its loyalty program.

Automated, data-driven personalization via the loyalty platform

Society Pass Incorporated (SOPA) ties its offerings together under its Society Points loyalty program, where members earn and redeem points. Society Pass Incorporated (SOPA) leverages technology to tailor a more personalised experience for customers in the purchase journey. The loyalty program members receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour.

Self-service merchant tools for direct marketing and data tracking

The foundation of the merchant relationship involves onboarding to the ecosystem where they can issue loyalty points. At one point, Society Pass Incorporated (SOPA) had onboarded over 650,000 registered merchants and brands, though a prior report from Q3 2022 cited over 5,500 registered merchant/brands.

High-touch relationship management for key advertising clients (TMG)

For its digital advertising arm, Thoughtful Media Group (TMG), relationship management is key. TMG boasts a client list of over 500 brands, ranging from local to globally recognized entities. The client satisfaction rate reported for TMG was 98%. A late 2023 projection estimated TMG's 2025 Revenue at $23 million for valuation purposes, while another projection put it at $17.5 million for 2025.

Digital, app-based interactions for travel and lifestyle services

Interactions for travel and lifestyle services are heavily channeled through digital properties like NusaTrip, which completed its NASDAQ IPO in August 2025, raising $17 million. The revenue contribution from the online ticketing and reservation segment in 2Q 2025 was $431,699. The digital marketing segment, also a key digital interaction point, generated $2.06 million in 2Q 2025 revenue.

Here's a quick look at the scale metrics that underpin these relationships:

Metric Category	Specific Data Point	Amount/Value
Registered Consumers (Prior Data)	Total Registered Consumers	Over 3.3 million
Registered Merchants (Prior Data)	Total Registered Merchants/Brands	Over 650,000
2Q 2025 Revenue Segment	Digital Marketing Revenue	$2.06 million
2Q 2025 Revenue Segment	Online Ticketing and Reservation Revenue	$431,699
TMG Client Base (Prior Data)	Brands Serviced by TMG	Over 500

The overall reported revenue for Society Pass Incorporated (SOPA) in 2Q 2025 was $2.5 million.

Society Pass Incorporated (SOPA) - Canvas Business Model: Channels

Subsidiary-specific e-commerce and travel platforms (e.g., NusaTrip)

NusaTrip Incorporated, which completed its NASDAQ IPO in August 2025, raised $17 million in the offering. Society Pass Incorporated received net proceeds of approximately $13.5 million from the transaction as of June 30, 2025. Society Pass Incorporated owns an estimated 75% ownership stake, equating to approximately 12 million shares of NusaTrip Incorporated. Prior to the IPO, NusaTrip had onboarded over 1.2 million registered users and connected with over 80 million unique visitors. The platform offers over 500 airlines and over 650,000 hotels. Technical re-platforming aims to increase its potential market size by up to 800% and offer linguistic localization for over 700 million users in Southeast Asia. NusaTrip targets becoming the leading travel booking platform by market share in Southeast Asia by 2026.

Metric	Pre-IPO/2023 Figure	2025 Target/Goal
Registered Users	Over 1.2 million	Localization for 700 million users
Airlines Listed	Over 500	N/A
Hotels Listed	Over 650,000	N/A
Unique Visitors Connected	Over 80 million	N/A
Potential Market Size Increase	N/A	Up to 800%

Digital media network and social commerce channels (Thoughtful Media Group)

Thoughtful Media Group (TMG) is expected to complete its IPO by the end of 2025, with a valuation projected to be comparable to NusaTrip's $17 million raised. TMG recorded revenues of $5.8 million in 2021, and its revenue for the twelve months ending June 30, 2024, was $7.37 million. In 2023, TMG had annual revenue of $6.84 million with 10.98% growth. Management believed TMG's revenue would double and reach profitability in 2023, with roughly $5.4 million in revenue reported in the last four reported quarters prior to June 30, 2024. As of 2022, the network included 263 YouTube channels, onboarding over 85 million subscribers, achieving an average monthly viewership of over 600 million views.

• TMG Network YouTube Channels: 263
• Subscribers Onboarded: Over 85 million
• Average Monthly Viewership: Over 600 million views

Direct-to-consumer mobile applications and websites

Society Pass Incorporated reported total revenues of $2.5 million for 2Q 2025, a 46% year-on-year increase. The revenue breakdown for 2Q 2025 shows digital marketing contributed $2.06 million, and online ticketing and reservation generated $431,699. As of late 2023, Society Pass had amassed over 3.6 million registered consumers across its ecosystem. The company's overall 2025 revenue estimate was raised to $8.8 million from $6.2 million following 2Q 2025 results.

Merchant-facing sales and onboarding teams across SEA

The merchant base across the Society Pass ecosystem reached over 650,000 registered merchants and brands as of late 2023. The digital marketing segment, which serves merchants and brands, was the strongest contributor to 2Q 2025 revenue at $2.06 million. The online ticketing and reservation segment contributed $431,699 to the 2Q 2025 revenue, indicating direct merchant/service provider engagement.

Society Pass Incorporated (SOPA) - Canvas Business Model: Customer Segments

You're looking at the core groups Society Pass Incorporated (SOPA) serves across its ecosystem in late 2025. It's a mix of end-users and business partners, all tied together by the universal loyalty points concept.

Consumers in high-growth Southeast Asia (SEA) markets

Society Pass Incorporated (SOPA) focuses squarely on the massive consumer base in Southeast Asia. The geographic footprint covers Vietnam, Indonesia, Philippines, Singapore, and Thailand, which together represent more than 80% of the SEA population.

The scale of the registered user base is a key metric here. As of the reports around May 2025, Society Pass Incorporated (SOPA) had amassed more than 3.3 million registered consumers. To give you a sense of the scale of the business activity, the company reported second-quarter 2025 revenues totaling $2.5 million, which was a 46% year-on-year growth. The trailing twelve months (TTM) revenue as of late 2025 was reported at $7.52 Million USD.

Here are the primary markets Society Pass Incorporated (SOPA) targets:

• Vietnam
• Indonesia
• Philippines
• Singapore
• Thailand

Small to large merchants and brands seeking customer loyalty and data

The merchant side is crucial because they issue and accept the universal loyalty currency. Society Pass Incorporated (SOPA) connects with a substantial network of businesses. As of the May 2025 data, the ecosystem included over 650,000 registered merchants and brands. These businesses use the platform for customer loyalty programs, allowing members to earn and redeem Society Points based on purchasing behavior.

The business model integrates these merchants across its six interconnected verticals, which include loyalty, digital media, travel, telecoms, lifestyle, and F&B. The subsidiary NusaTrip Incorporated, which completed its IPO in August 2025, is an example of a platform serving both corporate and retail customers across SEA.

The merchant and brand segment can be visualized by the scale of the ecosystem:

Segment Metric	Reported Figure (as of late 2025 context)
Registered Merchants and Brands	Over 650,000
Registered Consumers	More than 3.3 million
2Q 2025 Revenue (Total Company)	$2.5 million
2025 (TTM) Revenue	$7.52 Million USD

Advertisers targeting SEA's digital and social media users

This segment is primarily served through the digital advertising ecosystem, Thoughtful Media Group Inc (TMG). TMG is positioned as the premier digital advertising network in SEA, operating across Thailand, Vietnam, Indonesia, and the Philippines. They connect advertisers and brands with targeted audiences via social media channels.

The reach of this segment is quantified by the influencer network. TMG connects clients with over 10,000 influencers or creators registered on its platform. Before its expected IPO by the end of 2025, TMG had a revenue forecast for 2025 of $18 million. This suggests a significant portion of the overall ecosystem's value proposition is directed at advertisers looking for efficient return on ad spend in SEA.

Institutional and retail investors participating in subsidiary IPOs

You, as an investor, are a key segment, especially given the corporate restructuring strategy to unlock shareholder value through spin-offs. The first major event was the August 2025 IPO of the subsidiary NusaTrip Incorporated (ticker NUTR), which raised net proceeds of approximately $17 million for Society Pass Incorporated (SOPA). This cash influx is material; as of October 2025, SOPA's estimated cash on hand was $29 million, while its market capitalization was only approximately $5 million.

The second planned IPO, for Thoughtful Media Group, is expected by the end of 2025, with a valuation anticipated to be comparable to NusaTrip's. Analyst sentiment reflects this investor focus, with the 12-month price target raised to $18 from $15 based on a Net Present Value (NPV) analysis. The current consensus rating from analysts covering Society Pass Incorporated (SOPA) is 'Hold,' based on 1 sell, 1 hold, and 1 buy rating.

Key investor-relevant figures as of late 2025:

• NusaTrip IPO Proceeds Received: $17 million
• SOPA Estimated Cash on Hand: $29 million
• SOPA Market Capitalization: Approximately $5 million
• Analyst 12-Month Price Target: $18.00

Finance: draft 13-week cash view by Friday.

Society Pass Incorporated (SOPA) - Canvas Business Model: Cost Structure

You're looking at the hard numbers behind Society Pass Incorporated (SOPA)'s operations as of late 2025. The cost structure clearly shows where the cash is going, especially when revenue for the third quarter ended September 30, 2025, was only $1.38 million.

The primary concern in the cost structure is the sheer scale of overhead relative to revenue. For the third quarter of 2025, the total Operating Expenses hit $6.13 million. Honestly, that gap between revenue and operating costs is what drove the Net Loss of $5.12 million for that same quarter.

Here's a quick look at the major cost components for Q3 2025, based on reported figures and your required emphasis:

Cost Component	Q3 2025 Amount (USD)	Context/Notes
General and Administrative (G&A) Expenses	$6.0 million	The mandated figure, representing the vast majority of total operating costs.
Total Operating Expenses	$6.13 million	This figure encompasses G&A, R&D, and Sales & Marketing.
Revenue	$1.38 million	For comparison, this is the top-line figure for Q3 2025.
Net Loss	$5.12 million	The resulting bottom line for Q3 2025.

The structure suggests a heavy fixed-cost base, which is typical for a platform company focused on scaling through technology and market presence. You see this in the required focus areas:

• High General and Administrative (G&A) expenses, which were $6.0 million in Q3 2025.
• Technology development and re-platforming costs for subsidiaries, which contribute to the overall operating expense base as Society Pass Incorporated continues to build out its integrated ecosystem.
• Costs of acquisitions and integration of new business units. For example, the acquisition of Thoughtful Media Group (TMG) was reported at $2.1 million back in July 2022, setting a precedent for the capital outlay required for strategic growth moves.
• Sales and marketing expenses to drive consumer and merchant adoption, which, alongside Research and Development, make up the remainder of the $6.13 million in total operating expenses.

To be fair, the company is investing heavily in its future, evidenced by the analyst estimates for the full year 2025 revenue being raised to $8.8 million, up from a prior estimate of $6.2 million. Still, the cost base is what you need to watch closely.

Finance: draft 13-week cash view by Friday.

Society Pass Incorporated (SOPA) - Canvas Business Model: Revenue Streams

You're looking at how Society Pass Incorporated (SOPA) is bringing in money as of late 2025, based on their recent filings and analyst updates. It's a mix of digital services and ecosystem monetization.

The primary engine for revenue in the second quarter of 2025 was clearly digital marketing and advertising services. This segment was the strongest contributor for Q2 2025, bringing in $2.06 million. This focus on digital engagement is paying off significantly.

Next up is the revenue generated from online ticketing and reservation fees. For Q2 2025, this stream contributed $431K. It's a solid secondary earner within their lifestyle vertical.

To give you a clearer picture of the Q2 2025 revenue composition, here's the breakdown of the total $2.50 million revenue reported for that quarter:

Revenue Stream	Q2 2025 Contribution
Digital Marketing and Advertising Services	$2.06 million
Online Ticketing and Reservation Fees	$431,699
Online Ordering	$4,719
Data Segment	$167

The company also benefits from one-off, significant capital events, such as proceeds from subsidiary IPOs. Specifically, the net proceeds from the August 2025 initial public offering of NusaTrip on NASDAQ are noted at $13.5 million.

Another key area for Society Pass Incorporated (SOPA) is transaction fees from the loyalty and e-commerce ecosystem, which includes revenue generated through the use of Society Points. While specific Q2 2025 dollar amounts for this stream aren't broken out in the same detail as marketing or ticketing, it represents the monetization of their integrated user base.

Looking ahead, the full-year 2025 revenue projection has been revised upward following the strong Q2 performance. The current estimate for full-year 2025 revenue is around $8.8 million.

Here are the key financial metrics related to revenue streams as of the latest reports:

• Full-Year 2025 Revenue Estimate: $8.8 million
• Q2 2025 Total Revenue: $2.5 million
• Q2 2025 Year-over-Year Revenue Growth: 46%
• NusaTrip IPO Net Proceeds: $13.5 million

So, you see the business is leaning heavily on its digital marketing services right now, but the ecosystem fees and the capital event from the NusaTrip IPO are also material parts of the overall financial picture.

Finance: draft 13-week cash view by Friday.