17Live, Singapore's only special purpose acquisition company (SPAC) listing, has turned profitable in its 2HFY2025 ended December 2025 results. It reported earnings of US$3.68 milion compared to a loss of US$5.21 million the same period a year ago.
On a full-year basis, the group is still in the red, but losses have narrowed to to US$924,000 from US$3.27 million in FY2024.
Revenue however did not see growth. The group posted operating revenue of US$158.8 million for 2025, a decrease of 16.8% y-o-y, primarily from Liver live streaming. The group’s revenue from V-Liver live streaming increased slightly from US$11.0 million in FY2024 to US$11.1 million in FY2025.
Revenue for 2HFY2025 came in at US$77.6 million, a decline from US$89.7 million a year ago.
In FY2025, the group improved its gross profit margin from 43.3% to 43.5%. The group continues to pursue cost optimisation initiatives to improve operational efficiency across key areas such as IT infrastructure, marketing and organisational optimisation. These extensive efforts, initiated last year, yielded positive outcome in FY2025. As a result, the group recorded a 10.4% decrease in operating expenses from US$73.6 million to US$65.9 million.
Accordingly, the group maintained a positive operating income of US$3.1 million in FY2025, although this was lower compared to the US$9.0 million recorded in FY2024. The group recorded other losses of US$1.9 million in FY2025, an improvement of US$8.0 million from US$9.9 million in FY2024. This was primarily due to the absence of a non-recurring expense incurred in FY2024, despite higher unrealised foreign exchange losses from the foreign exchange rate fluctuations in FY2025.
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The group achieved a profit before tax (PBT) of US$1.2 million for FY2025, compared to a loss of US$1.0 million in FY2024. This marks the first time the group has recorded a positive full-year PBT since its listing on the Singapore Exchange (SGX).
The group’s cash and cash equivalents at the end of 2025 amounted to US$73.4 million,
17Live declared a final dividend of 0.5 cents per share. Including its interim dividend of 1.5 cents per share, the total dividend payout for FY2025 is 2.0 cents.
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On the outlook, the group says that it will be building on the operational momentum and structural profitability achieved in FY2025 and will continue to execute its Forward Strategy with a focus on strengthening core business, diversified revenue growth, and sustainable profitability.
Shares in 17Live last traded at 91 cents.
