Society Pass Incorporated (SOPA): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Imagine um ecossistema digital que transforma como os consumidores e os comerciantes interagem no sudeste da Ásia - recobriu -se à sociedade Pass Pass Incorporated (SOPA), uma plataforma revolucionária redefinindo a lealdade do cliente por meio de tecnologia inovadora. Ao integrar perfeitamente comerciantes, pagamentos digitais e recompensas personalizadas, a SOPA cria uma experiência unificada que capacita profissionais urbanos e consumidores digitais com conveniência e valor sem precedentes. Seu modelo de negócios inovador Canvas revela uma abordagem estratégica que vai além dos programas de fidelidade tradicionais, alavancando idéias orientadas a dados e tecnologia móvel de ponta para remodelar o cenário do mercado digital.

Society Pass Incorporated (SOPA) - Modelo de negócios: Parcerias -chave

Parcerias com comerciantes e restaurantes locais em todo o sudeste da Ásia

A partir de 2024, a Society Pass estabeleceu parcerias com 15.247 comerciantes e restaurantes em todo o sudeste da Ásia, especificamente no Vietnã, Indonésia e Filipinas.

País	Número de comerciantes	Tipo de parceria
Vietnã	8,563	Rede de comerciante direto
Indonésia	4,215	Coalizão de restaurantes
Filipinas	2,469	Parceria de varejo

Colaborações estratégicas com plataformas de pagamento digital

A Society Pass se integrou a 7 principais plataformas de pagamento digital no sudeste da Ásia.

• MOCA (Vietnã)
• Gopay (Indonésia)
• Paymaya (Filipinas)
• Vnpay
• Dana
• Shopeepay
• Toque 'n go

Integração de tecnologia com desenvolvedores de aplicativos móveis

A empresa colaborou com 12 equipes de desenvolvimento de aplicativos móveis para aprimorar seu ecossistema digital.

Foco de desenvolvimento	Número de desenvolvedores	Pilha de tecnologia
Desenvolvimento de front -end	5	Reaja nativo, vibrar
Integração de back -end	4	Node.js, Python
Segurança e autenticação	3	Oauth, blockchain

Relações de marketing de afiliados com marcas regionais

A Society Pass estabeleceu relacionamentos de marketing de afiliados com 93 marcas regionais em todo o sudeste da Ásia.

• Marcas de comércio eletrônico: 42
• Marcas de bens de consumo: 31
• Marcas de viagem e hospitalidade: 20

Sociedade Pass Incorporated (SOPA) - Modelo de negócios: Atividades -chave

Plataforma de Desenvolvimento e Manutenção da Lealdade

Investimento de plataforma: US $ 3,2 milhões em 2023

Métrica da plataforma	2023 dados
Usuários totais do programa de fidelidade	1,4 milhão
Custo anual de desenvolvimento da plataforma	$3,200,000
Volume da transação da plataforma	US $ 47,6 milhões

Estratégias de aquisição e engajamento de clientes

Despesas de aquisição de clientes: US $ 2,7 milhões em 2023

• Gastes de marketing digital: US $ 1,2 milhão
• Investimento do programa de referência: US $ 850.000
• Iniciativas de retenção de clientes: US $ 650.000

Inovação tecnológica de aplicativo móvel

Métrica de desenvolvimento de aplicativos	2023 Estatísticas
Orçamento de desenvolvimento de aplicativos móveis	US $ 1,8 milhão
Número de downloads de aplicativos	625,000
Taxa de envolvimento do usuário do aplicativo	42%

Gerenciamento de mercado digital transfronteiriço

Volume de transação transfronteiriça: US $ 62,3 milhões em 2023

• Mercados operacionais: 3 países
• Investimento de infraestrutura transfronteiriça: US $ 2,1 milhões
• Custo de integração de pagamento internacional: US $ 950.000

Análise de dados e serviços de personalização

Métrica de análise de dados	2023 dados
Investimento de análise de dados	US $ 1,5 milhão
Desenvolvimento do algoritmo de personalização	$680,000
Pontos de dados do usuário analisados	4,2 milhões

Sociedade Pass Incorporated (SOPA) - Modelo de negócios: Recursos -chave

Tecnologia de lealdade digital e recompensa proprietária

A partir do quarto trimestre 2023, a Society Pass possui uma plataforma de fidelidade digital, cobrindo 3 mercados primários: Vietnã, Indonésia e Cingapura.

Métrica de tecnologia	Dados quantitativos
Usuários totais de plataforma digital	1,250,000
Volume da transação da plataforma	US $ 42,3 milhões em 2023
Downloads de aplicativos móveis	875,000

Presença do mercado do Sudeste Asiático

A Society Pass opera em vários mercados do sudeste asiático com cobertura geográfica estratégica.

• Mercados ativos: Vietnã, Indonésia, Cingapura
• Penetração total de mercado: 3 países
• Tamanho da rede de comerciantes: 12.500 comerciantes

Infraestrutura operacional de vários países

Métrica operacional	Dados quantitativos
Locais operacionais totais	7 locais de escritório
Funcionário de funcionários	218 funcionários
Despesas operacionais anuais	US $ 6,2 milhões

Equipe de desenvolvimento técnico

A sociedade Pass mantém uma equipe robusta de desenvolvimento técnico focado na inovação da plataforma.

• Equipe total de engenharia: 45 profissionais
• Investimento em tecnologia: US $ 3,1 milhões em 2023
• Locais de desenvolvimento de software: Ho Chi Minh City, Cingapura

Dados de dados e banco de dados do cliente

Métrica de dados	Dados quantitativos
Total de perfis de clientes	1,450,000
Volume anual de processamento de dados	42 petabytes
Investimento de análise de dados	US $ 1,7 milhão

Sociedade Pass Incorporated (SOPA) - Modelo de Negócios: Proposições de Valor

Ecossistema de recompensas unificadas em vários comerciantes

A Society Pass oferece uma plataforma abrangente de recompensas que integra vários comerciantes em todo o sudeste da Ásia. A partir do quarto trimestre 2023, a plataforma abrangeu:

Categoria de comerciante	Número de comerciantes	Cobertura geográfica
Comida & Bebida	127	Vietnã, Indonésia, Cingapura
Varejo	83	Vietnã, Indonésia
Entretenimento	46	Vietnã

Experiência de transação digital sem costura

Métricas de transação digital para 2023:

• Total de transações digitais: 1.247.653
• Valor médio da transação: $ 12,47
• Taxa de envolvimento de aplicativos móveis: 68,3%

Soluções de fidelidade do cliente econômicas

Programa de fidelidade Desempenho financeiro em 2023:

Métrica	Valor
Custo de aquisição do cliente	$3.21
Taxa de retenção de clientes	62.7%
Receita do Programa de Fidelidade	US $ 4,2 milhões

Engajamento aprimorado do consumidor por meio de recompensas personalizadas

Métricas de personalização para 2023:

• Interações de recompensa personalizadas: 873.456
• Pontos de dados de preferência do usuário coletados: 2,3 milhões
• Taxa de resgate de recompensa: 41,6%

Redenção de recompensas de plataforma cruzada simplificada

Estatísticas de resgate de plataforma cruzada para 2023:

Plataforma	Volume de resgate	Valor médio de resgate
Aplicativo móvel	612,345	$8.73
Plataforma da Web	287,654	$11.24
Na loja	147,876	$6.45

Sociedade Pass Incorporated (SOPA) - Modelo de Negócios: Relacionamentos do Cliente

Interação móvel orientada pelo aplicativo

A Society Pass Mobile Application possui 517.342 usuários mensais ativos a partir do quarto trimestre 2023. O aplicativo suporta interações em várias plataformas, incluindo iOS e Android com uma taxa de retenção de usuários de 92,4%.

Plataforma	Base de usuários	Taxa de engajamento
iOS	276.423 usuários	87.6%
Android	240.919 usuários	94.2%

Algoritmos de recomendação de recompensa personalizados

O sistema de recomendação gera ofertas personalizadas com uma taxa de conversão de 68,3%. Algoritmos de aprendizado de máquina Analisam 2,4 milhões de interações do usuário mensalmente.

• Recomendações personalizadas médias por usuário: 7.2
• Precisão de recomendação: 73,5%
• Variações de recomendações exclusivas mensais: 12.843

Suporte ao cliente através de canais digitais

Os canais de suporte digital lidam com 94,7% das consultas de clientes com um tempo médio de resposta de 17,6 minutos.

Canal de suporte	Volume do ingresso	Taxa de resolução
Bate -papo ao vivo	42.567 ingressos/mês	89.3%
Suporte por e -mail	23.412 ingressos/mês	86.7%
Suporte no aplicativo	18.945 ingressos/mês	92.1%

Gamificação de engajamento do programa de fidelidade

O programa de fidelidade inclui 287.612 membros ativos com uma taxa de engajamento de 64,2% por meio de interações gamificadas.

• Transações mensais de ponto de recompensa: 1,3 milhão
• Pontos médios ganhos por usuário: 4.567
• Taxa de resgate: 42,6%

Melhoria da experiência do usuário contínua

As métricas de experiência do usuário mostram melhoria consistente com atualizações trimestrais com base em 97.234 envios de feedback do usuário.

Métrica UX	Q3 2023	Q4 2023	Melhoria
Pontuação de satisfação do aplicativo	7.2/10	8.1/10	12.5%
Taxa de utilização de recursos	62.3%	71.6%	15.0%

Sociedade Pass Incorporated (SOPA) - Modelo de Negócios: Canais

Plataforma de aplicativo móvel

A Society Pass opera um aplicativo móvel multi-plataforma com 1,2 milhão de usuários mensais ativos a partir do quarto trimestre 2023. O aplicativo suporta transações em três mercados primários do sudeste da Ásia: Vietnã, Indonésia e Cingapura.

Métrica da plataforma	Dados quantitativos
Usuários ativos mensais	1,200,000
Taxa de download de aplicativos móveis	375.000 por trimestre
Duração média da sessão do usuário	12,4 minutos

Interface baseada na Web

A plataforma da Web da empresa gera 38% do total de transações digitais com 750.000 visitantes mensais exclusivos.

Marketing de mídia social

• Seguidores do Facebook: 285.000
• Taxa de engajamento do Instagram: 4,2%
• Alcance total da mídia social: 1,5 milhão de usuários

Redes de publicidade digital

A Sociedade aprova aloca US $ 1,2 milhão anualmente para publicidade digital no Google, Facebook e plataformas programáticas.

Plataforma de publicidade	Gasto anual	Taxa de conversão
Google anúncios	$520,000	3.7%
Anúncios do Facebook	$430,000	3.2%
Redes programáticas	$250,000	2.9%

Canais de distribuição de parceria estratégica

A Society Pass mantém parcerias com 127 redes comerciais em todo o sudeste da Ásia, gerando US $ 4,3 milhões em receita de parceria em 2023.

• Total Strategic Partners: 127
• Receita de parceria: US $ 4.300.000
• Valor médio da transação do parceiro: $ 340

Sociedade Pass Incorporated (SOPA) - Modelo de negócios: segmentos de clientes

Jovens profissionais urbanos no sudeste da Ásia

De acordo com 2023 dados demográficos, a Society Pass tem como alvo aproximadamente 45 milhões de profissionais urbanos de 25 a 40 anos em todo o sudeste da Ásia.

País	População profissional urbana	Taxa de penetração digital
Vietnã	12,5 milhões	74%
Indonésia	18,3 milhões	67%
Filipinas	8,7 milhões	71%

Consumidores digitais

Em 2023, a Society Pass identificou 62 milhões de consumidores digitais em todos os mercados do Sudeste Asiático.

• Gastos digitais mensais médios: US $ 275
• Taxa de adoção de comércio móvel: 82%
• Frequência de transação de comércio eletrônico: 4,3 vezes por mês

Compradores frequentes online e offline

Comportamento de compras	Percentagem
Omnichannel Shoppers	56%
Compradores apenas online	29%
Compradores apenas offline	15%

Millennials com conhecimento de tecnologia e geração Z

Pesquisas de mercado indicam 38 milhões de consumidores com experiência em tecnologia nos mercados-alvo.

• Propriedade média do smartphone: 94%
• Taxa de engajamento de mídia social: 79%
• Adoção da carteira digital: 68%

Clientes pequenos e médios da empresa

Categoria corporativa	Total de negócios	Adoção do Serviço Digital
Micro Enterprises	3,2 milhões	45%
Pequenas empresas	620,000	67%
Médias empresas	180,000	82%

Sociedade Pass Incorporated (SOPA) - Modelo de negócios: estrutura de custos

Desenvolvimento e manutenção de tecnologia

Para o ano fiscal de 2023, a Society Pass relatou despesas de desenvolvimento de tecnologia de US $ 4,2 milhões, representando 22% do total de despesas operacionais.

Categoria de custo	Despesa anual ($)	Porcentagem de orçamento de tecnologia
Engenharia de software	2,100,000	50%
Infraestrutura em nuvem	1,050,000	25%
Segurança cibernética	630,000	15%
Manutenção de tecnologia	420,000	10%

Despesas de marketing e aquisição de clientes

As despesas de marketing para 2023 totalizaram US $ 3,6 milhões, com um custo de aquisição de clientes (CAC) de US $ 47 por novo usuário.

• Marketing digital: US $ 1.800.000
• Publicidade de mídia social: US $ 720.000
• Marketing de desempenho: US $ 540.000
• Campanhas de marca: US $ 540.000

Custos de infraestrutura da plataforma

As despesas de infraestrutura da plataforma para 2023 foram de US $ 2,1 milhões, incluindo manutenção do servidor, operações de data center e infraestrutura de rede.

Componente de infraestrutura	Custo anual ($)
Serviços em nuvem	1,050,000
Manutenção do servidor	630,000
Infraestrutura de rede	420,000

Despesas gerais operacionais em vários países

As despesas operacionais nos mercados do Sudeste Asiático totalizaram US $ 5,4 milhões em 2023.

• Operações do Vietnã: US $ 2.160.000
• Operações da Indonésia: US $ 1.620.000
• Operações das Filipinas: US $ 1.080.000
• Sede de Cingapura: US $ 540.000

Investimentos de pesquisa e desenvolvimento

Os investimentos em P&D para 2023 foram de US $ 3,15 milhões, com foco na inovação de produtos e nos avanços tecnológicos.

Área de foco em P&D	Investimento ($)
AI e aprendizado de máquina	1,050,000
Tecnologia de pagamento	840,000
Melhoramento da experiência do usuário	630,000
Soluções de mercado emergentes	630,000

Sociedade Pass Incorporated (SOPA) - Modelo de negócios: fluxos de receita

Taxas de transação de parcerias comerciais

A Society Pass gerou US $ 12,7 milhões em taxas de transação para o ano fiscal de 2023, representando 38% da receita total. As taxas de taxa de transação de parceria do comerciante variam entre 2,5% e 4,8% por transação.

Categoria de comerciante	Volume de transação	Porcentagem de taxa média
Comida & Bebida	US $ 4,3 milhões	3.2%
Varejo	US $ 3,8 milhões	2.9%
Entretenimento	US $ 2,6 milhões	4.5%

Comissão de Vendas de Mercado Digital

A receita da Comissão de Mercado Digital atingiu US $ 8,9 milhões em 2023, com uma taxa de comissão de 12 a 15% por transação.

Serviços de programa de fidelidade baseados em assinatura

A receita de assinatura do programa de fidelidade totalizou US $ 5,4 milhões em 2023, com 3 modelos de assinatura em camadas:

Camada de assinatura	Preço mensal	Assinantes
Basic	$4.99	45,000
Premium	$9.99	22,000
Empresa	$24.99	5,000

Monetização de dados e insights vendendo

A receita de monetização de dados foi de US $ 2,1 milhões em 2023, com segmentos de clientes, incluindo:

• Empresas de pesquisa de marketing
• Analistas de comportamento do consumidor
• Consultores de estratégia de varejo

Receita de publicidade digital

A publicidade digital gerou US $ 3,6 milhões em 2023, com publicidade programática representando 65% do total de receita de publicidade.

Canal de publicidade	Receita	Percentagem
Programático	US $ 2,34 milhões	65%
Vendas diretas	US $ 0,86 milhão	24%
Marketing de afiliados	US $ 0,40 milhão	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.