Reported Earnings • Mar 01
Full year 2025 earnings released: EPS: ฿0.01 (vs ฿0.013 in FY 2024) Full year 2025 results: EPS: ฿0.01 (down from ฿0.013 in FY 2024). Revenue: ฿912.1m (down 33% from FY 2024). Net income: ฿17.8m (down 20% from FY 2024). Profit margin: 1.9% (up from 1.6% in FY 2024). Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 56% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 14
Third quarter 2025 earnings released: ฿0.024 loss per share (vs ฿0.006 profit in 3Q 2024) Third quarter 2025 results: ฿0.024 loss per share (down from ฿0.006 profit in 3Q 2024). Revenue: ฿206.0m (down 43% from 3Q 2024). Net loss: ฿41.3m (down ฿50.9m from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 55% per year, which means it is significantly lagging earnings. Annuncio • Oct 20
Tvd Holdings Public Company Limited Approves Resignation of Tussanee Khonkan from the Position of Director, Effective on October 16, 2025 TVD Holdings Public Company Limited (the "Company") hereby notifies that the meeting of the Company's Board of Directors No. 7/2025, which held on October 16, 2025, has the significant resolutions as follow: Acknowledgment of resignation and Change in Authorized Director, detail as follow: - Acknowledgment of resignation of Miss Tussanee Khonkan from the position of Director due to a personal matter, effective on October 16, 2025. The Company has 9 directors as follows: Mr. Pongpanu Svetarundra- Chairman of the Board of Director, Independent Director and Chairman of the Audit Committee, Mr. Wirasack Wirojwattanakul- Director, Chairman of the Risk Management Committee, Chairman of the Executive Committee and Nomination and Remuneration Committee, Mr. Vorasit Leelaaburanapong- Director, Nomination and Remuneration Committee, Executive Committee and Chief Executive Officer, Mr. Lertpong Yongthanarat-Director, Mr. Anit Norkeo-Director, Mr. Napong Sirikantayakul-Independent Director and Audit Committee Member, Miss Anunya Ngamwannakul- Independent Director, Audit Committee and Risk Management Committee, Mr. Akkakit Maiket- Director, Nomination and Remuneration Committee, Executive Committee and Chief Business Officer, Ms. Jiraporn Pinijnorachai- Director, Risk Management Committee, Nomination and Remuneration Committee, Executive Committee, Acting of Chief Financial Officer and Acting of Company Secretary. Reported Earnings • Aug 14
Second quarter 2025 earnings released: ฿0.016 loss per share (vs ฿0.007 profit in 2Q 2024) Second quarter 2025 results: ฿0.016 loss per share (down from ฿0.007 profit in 2Q 2024). Revenue: ฿291.3m (down 15% from 2Q 2024). Net loss: ฿28.8m (down 325% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 58% per year, which means it is significantly lagging earnings. Annuncio • Jul 10
TVD Holdings Public Company Limited has filed a Follow-on Equity Offering. TVD Holdings Public Company Limited has filed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 525,710,577
Transaction Features: Rights Offering New Risk • Jun 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Market cap is less than US$10m (฿122.7m market cap, or US$3.76m). Minor Risk Large one-off items impacting financial results. New Risk • May 20
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (฿210.3m market cap, or US$6.36m). Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Large one-off items impacting financial results. Annuncio • Apr 22
Tvd Holdings Public Company Limited Appoints Supot Arevart as Director TVD Holdings Public Company Limited at Annual General Meeting of Shareholders Year 2025 which was held on April 21, 2025, has resolved the following agenda: Appointment of Supot Arevart as Director. Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: ฿0.013 (vs ฿0.24 loss in FY 2023) Full year 2024 results: EPS: ฿0.013 (up from ฿0.24 loss in FY 2023). Revenue: ฿1.35b (down 24% from FY 2023). Net income: ฿22.1m (up ฿441.1m from FY 2023). Profit margin: 1.6% (up from net loss in FY 2023). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings. Annuncio • Mar 01
TVD Holdings Public Company Limited Announces Directorate Changes TVD Holdings Public Company Limited announced that Miss WATCHARAPORN SUWINCHAI Resigned as director due to engaged in other task and unable to fully dedicate time to work. The company announced appointment of Miss Tussanee Khonkan and Mr. Anit Norkeo as directors. Annuncio • Feb 28
TVD Holdings Public Company Limited, Annual General Meeting, Apr 21, 2025 TVD Holdings Public Company Limited, Annual General Meeting, Apr 21, 2025, at 13:00 SE Asia Standard Time. New Risk • Jan 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Thai stocks, typically moving 8.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.8% average weekly change). Earnings have declined by 40% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿350.5m market cap, or US$10.2m). New Risk • Oct 07
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ฿333.0m (US$9.95m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 51% per year over the past 5 years. Market cap is less than US$10m (฿333.0m market cap, or US$9.95m). Minor Risk Share price has been volatile over the past 3 months (7.9% average weekly change). New Risk • Sep 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Thai stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 51% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Market cap is less than US$100m (฿350.5m market cap, or US$10.8m). Reported Earnings • May 18
First quarter 2024 earnings released: ฿0.012 loss per share (vs ฿0.017 loss in 1Q 2023) First quarter 2024 results: ฿0.012 loss per share (improved from ฿0.017 loss in 1Q 2023). Revenue: ฿283.9m (down 51% from 1Q 2023). Net loss: ฿21.4m (loss narrowed 28% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 34% per year, which means it is performing significantly worse than earnings. Reported Earnings • Mar 01
Full year 2023 earnings released: ฿0.24 loss per share (vs ฿0.23 loss in FY 2022) Full year 2023 results: ฿0.24 loss per share (further deteriorated from ฿0.23 loss in FY 2022). Revenue: ฿1.78b (down 16% from FY 2022). Net loss: ฿419.0m (loss widened 20% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 31% per year whereas the company’s share price has fallen by 33% per year. Annuncio • Feb 29
TVD Holdings Public Company Limited, Annual General Meeting, Apr 30, 2024 TVD Holdings Public Company Limited, Annual General Meeting, Apr 30, 2024, at 13:00 SE Asia Standard Time. Agenda: To consider to adopt the Minutes of the Extraordinary General Meeting of Shareholders No. 2/2023;to consider to acknowledge the Company's operating results for the year 2023;to consider and approve the balance sheet (Statements of financial position) and statements of income for the year 2023 and acknowledge the report of the Board of Directors' responsibilities to financial reporting;to consider and approve not allocating the net profits for the year 2023 as the legal reserve and the omission of the dividend payment from the operating result for the year 2023;to consider the appointment of directors in replacement of the retiring directors by rotation;and to consider other matters. Annuncio • Jan 05
TVD Holdings Public Company Limited has completed a Derivatives Offering in the amount of THB 14.313935 million. TVD Holdings Public Company Limited has completed a Derivatives Offering in the amount of THB 14.313935 million.
Security Name: Warrants
Security Type: Equity Warrant
Securities Offered: 143,139,345
Price\Range: THB 0.1
Transaction Features: Rights Offering Annuncio • Nov 02
TVD Holdings Public Company Limited Announces Resignation of Suttipong Kanakakorn from the Position of the Director and Independent Director TVD Holdings Public Company Limited informed that Mr. Suttipong Kanakakorn has resigned from the position of the Director and Independent Director of the Company for a personal matter. This resignation will be effective from November 1, 2023, onwards. The Company has 10 directors as follows:Mr. Pongpanu Svetarundra: Chairman of the Board, Independent Director and Chairman of the Audit Committee, Mr. Vorasit Leelaaburanapong Acting Chief Executive Officer and Director, Mr. Wirasack Wirojwattanakul Director, Mr. Lertpong Yongthanarat: Director, Mr. Itti Thongtang Director, Miss Watcharaporn Suwinchai: Director, Miss Jiraporn Pinijnorachai: Director, Mr. Napong Sirikantayakul: Independent Director and Audit Committee Member, Miss Anunya Ngamwannakul: Independent Director and Audit Committee Member, . Mr. Akkakit Maiket: Chief Business Officer /Director. New Risk • Oct 06
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.4% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-฿294m free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 69% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (2.4% increase in shares outstanding). Market cap is less than US$100m (฿630.9m market cap, or US$17.1m). Annuncio • Sep 29
TVD Holdings Public Company Limited Announces Resignation of Songpol Shanmatkit from the Board of Directors and Sub-Committees TVD Holdings Public Company Limited hereby notifies that the meeting of the Board of Directors No. 11/2023, which held on September 28, 2023 has resolved the following agendas: Approved the amendment and change of directors who have authority to sign to bind the company as follows: As Mr. Songpol Shanmatkit has announced his resignation from the Board of Directors position and sub-committees of TVD Holdings Public Company Limited, making the company currently have 11 directors as follows: Mr. Pongpanu Svetarundra: Chairman of the Board /Independent Director /Chairman of the Audit Committee; Mr. Wirasack Wirojwattanakul: Director, Chairman of the Risk Management Committee and Nomination and Remuneration Committee Member; Mr. Lertpong Yongthanarat: Director; Mr. Itti Thongtang: Director and Chairman of the Investment Committee; Miss Watcharaporn Suwinchai: Director, Investment Committee Member, and Nomination and Remuneration Committee Member; Mr. Vorasit Leelaburanapong: Director, Investment Committee Member, Nomination and Remuneration Committee Member and Acting Chief Executive Officer; Miss Jiraporn Pinijnorachai: Director and Risk Management Committee Member; Mr. Suttipong Kanakakorn: Independent Director; Mr. Napong Sirikantayakul: Independent Director and Member of the Audit Committee; Miss Anunya Ngamwannakul: Independent Director, Audit Committee Member and Risk Management Committee; Mr. Akkakit Maiket: Director, Investment Committee Member, Nomination and Remuneration Committee Member and Chief Business Officer and approved changes in directors who have authority to bind the company, the details are as follows: From the beginning, Mr. Songpol Shanmatkit or Mr. Wirasack Wirojwattanakul or Mr. Lertpong Yongthanarat, two out of three people jointly sign and affix the company seal Changed to Mr. Wirasack Wirojwattanakul or Mr. Vorasit Leelaburanapong or Mr. Akkakit Maiket, co-signed with Miss Jiraporn Pinijnorachai or Miss Watcharaporn Suwinchai, a total of two people, and affixed with the company's seal. New Risk • Aug 14
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -฿294m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-฿294m free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 69% per year over the past 5 years. Minor Risk Market cap is less than US$100m (฿872.9m market cap, or US$24.9m). Reported Earnings • Aug 13
Second quarter 2023 earnings released: ฿0.14 loss per share (vs ฿0.078 loss in 2Q 2022) Second quarter 2023 results: ฿0.14 loss per share (further deteriorated from ฿0.078 loss in 2Q 2022). Revenue: ฿530.4m (down 1.3% from 2Q 2022). Net loss: ฿237.7m (loss widened 96% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 40 percentage points per year, which is a significant difference in performance. Annuncio • Jun 02
TVD Holdings Public Company Limited announced a financing transaction TVD Holdings Public Company Limited announced a private placement of 513,460,001 common shares on May 31, 2023. Board Change • Nov 16
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Director Napong Sirikantayakul was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • May 16
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: ฿0.15 loss per share (down from ฿0.045 loss in 1Q 2021). Revenue: ฿541.8m (down 24% from 1Q 2021). Net loss: ฿133.8m (loss widened 288% from 1Q 2021). Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 120 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 6 non-independent directors. Independent Director Suttipong Kanakakorn was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 27
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: ฿0.30 loss per share (down from ฿0.04 profit in FY 2020). Revenue: ฿2.73b (down 24% from FY 2020). Net loss: ฿259.8m (down ฿288.2m from profit in FY 2020). Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) were also behind analyst expectations. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 15
Third quarter 2021 earnings released: ฿0.096 loss per share (vs ฿0.014 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ฿663.2m (down 25% from 3Q 2020). Net loss: ฿86.2m (down ฿97.1m from profit in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 18
Second quarter 2021 earnings released: ฿0.04 loss per share (vs ฿0.062 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: ฿729.9m (down 31% from 2Q 2020). Net loss: ฿36.2m (down 189% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 43% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Reported Earnings • May 17
First quarter 2021 earnings released: ฿0.045 loss per share (vs ฿0.02 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: ฿716.0m (down 15% from 1Q 2020). Net loss: ฿34.5m (loss widened 163% from 1Q 2020). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Executive Departure • Apr 28
Independent Director has left the company On the 19th of April, Anucha Chintakanond's tenure as Independent Director ended after 10.4 years in the role. We don't have any record of a personal shareholding under Anucha's name. A total of 3 executives have left over the last 12 months. Analyst Estimate Surprise Post Earnings • Mar 03
Revenue and earnings miss expectations Revenue missed analyst estimates by 4.6%. Earnings per share (EPS) also missed analyst estimates by 43%. Over the next year, revenue is forecast to grow 16%, compared to a 58% growth forecast for the Online Retail industry in Thailand. Reported Earnings • Feb 27
Full year 2020 earnings released: EPS ฿0.04 (vs ฿0.021 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: ฿3.59b (down 14% from FY 2019). Net income: ฿28.3m (up 112% from FY 2019). Profit margin: 0.8% (up from 0.3% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 10
New 90-day high: ฿1.51 The company is up 54% from its price of ฿0.98 on 12 November 2020. The Thai market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is up 41% over the same period. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improved over the past week After last week's 15% share price gain to ฿1.28, the stock is trading at a trailing P/E ratio of 27.3x, up from the previous P/E ratio of 23.6x. This compares to an average P/E of 28x in the Online Retail industry in Asia. Total return to shareholders over the past three years is a loss of 27%. Is New 90 Day High Low • Jan 18
New 90-day high: ฿1.28 The company is up 36% from its price of ฿0.94 on 20 October 2020. The Thai market is up 26% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Online Retail industry, which is up 11% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: ฿1.22 The company is up 11% from its price of ฿1.10 on 09 September 2020. The Thai market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Online Retail industry, which is up 12% over the same period. Valuation Update With 7 Day Price Move • Dec 04
Market bids up stock over the past week After last week's 16% share price gain to ฿1.14, the stock is trading at a trailing P/E ratio of 24.3x, up from the previous P/E ratio of 20.9x. This compares to an average P/E of 26x in the Online Retail industry in Asia. Total return to shareholders over the past three years is a loss of 20%. Is New 90 Day High Low • Oct 20
New 90-day low: ฿0.94 The company is down 5.0% from its price of ฿0.99 on 22 July 2020. The Thai market is down 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Online Retail industry, which is up 23% over the same period.