Troops, Inc. /Cayman Islands/ (TROO)
Troops, Inc. /Cayman Islands/ reported revenue of $17.1M in fiscal 2025, up 69.7% from a year earlier. It posted a net loss of $27.9M. Operating cash flow minus capital spending left $690K of free cash flow in fiscal 2025. At December 31, 2025 it held $4M in cash. Its latest periodic report to the SEC is the annual report (foreign issuer) (20-F) filed on April 30, 2026.
Key facts about Troops, Inc. /Cayman Islands/
- Net worth
- Troops, Inc. /Cayman Islands/ has a market value (market cap) of $240.7M at the latest share price, and shareholders' equity of $49M on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $17.1M (+69.7% year on year), with a net loss of $27.9M.
- Cash flow
- In fiscal 2025 operations brought in $807K of cash; after $117K of capital spending, free cash flow was $690K.
- Latest report
- The latest periodic report (annual report (foreign issuer), 20-F) was filed with the SEC on April 30, 2026 and covers the period to December 31, 2025. Open on SEC EDGAR
What Troops, Inc. /Cayman Islands/ does
Troops, Inc. /Cayman Islands/ is registered with the SEC under industry code SIC 6159 (Miscellaneous Business Credit Institution). Its shares trade on NASDAQ under the ticker TROO.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $17.1M | -$27.9M | -$0.23 | $690K |
| 2024 | $10.1M | -$13.4M | -$0.13 | $1.7M |
| 2023 | $3.6M | -$1.7M | -$0.02 | -$6.8M |
| 2022 | $3.9M | -$346K | -$0.01 | -$524K |
| 2021 | $3.7M | -$8.4M | -$0.08 | $11.9M |
| 2020 | $4.3M | -$67.9M | -$0.69 | $21.7M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where TROO ranks in Finance
Latest SEC filings
What Troops, Inc. /Cayman Islands/ has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 30, 2026
- October 15, 2026
- October 14, 2026Activist stake (5% or more) SCHEDULE 13D
- October 13, 2026
- September 24, 2026Activist stake (5% or more) SCHEDULE 13D
- September 24, 2026Activist stake (5% or more) SCHEDULE 13D
- September 18, 2026Activist stake (5% or more) SCHEDULE 13D
- April 30, 2026Annual report (foreign issuer) 20-F · period to December 31, 2025Revenue rose 70% to $17.1M versus the prior year; diluted EPS -$0.23 versus -$0.13.
- March 27, 2026
- March 27, 2026
Insider trades
What the people running Troops, Inc. /Cayman Islands/ did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
Who owns TROO
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Jmd Corporate Services Limited13D, may seek influence | 14.7% | September 18, 2026 |
| Prime Ocean Holdings Limited13D, may seek influence | 9% | October 14, 2026 |
| Lianteng Limited13D, may seek influence | 8.9% | September 24, 2026 |
| WANG & LEE Holdings, Inc.13D, may seek influence | 7.9% | September 24, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 13 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Geode Capital Management, LLC | 78,624 | +4,545 |
| XTX Topco Ltd | 66,106 | +46,696 |
| UBS Group AG | 55,019 | -3,264 |
| Morgan Stanley | 54,799 | new |
| Jane Street Group, LLC | 33,910 | -3,077 |
| Marshall Wace, Llp | 23,900 | new |
| Two Sigma Investments, LP | 14,116 | 0 |
| Renaissance Technologies LLC | 10,500 | new |
| Two Sigma Securities, LLC | 10,016 | new |
| Group One Trading LLC | 4,596 | -7,144 |
| Hrt Financial LP | 47,684 | +27,639 |
| Caitong International Asset Management Co., Ltd | 11 | +9 |
| SBI Securities Co., Ltd. | 7 | 0 |
Insiders
Questions about TROO
What does Troops, Inc. /Cayman Islands/ do?
Troops, Inc. /Cayman Islands/ is a company in the Finance sector, listed on NASDAQ as TROO. Its shares trade on NASDAQ under the ticker TROO.
What is Troops, Inc. /Cayman Islands/'s net worth?
Troops, Inc. /Cayman Islands/ has a market value (market cap) of $240.7M at the latest share price, and shareholders' equity of $49M on its balance sheet at December 31, 2025. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Troops, Inc. /Cayman Islands/ profitable?
No. In fiscal 2025 it reported a net loss of $27.9M on revenue of $17.1M.
How much revenue does Troops, Inc. /Cayman Islands/ make?
In fiscal 2025 Troops, Inc. /Cayman Islands/ reported revenue of $17.1M. That is 69.7% more than a year earlier.
When did Troops, Inc. /Cayman Islands/ last report?
Its most recent periodic report is the annual report (foreign issuer) (20-F) filed on April 30, 2026. It covers the period to December 31, 2025. Its newest filing of any kind is the foreign issuer update from October 30, 2026.
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Where the numbers come from
Financial figures are the values Troops, Inc. /Cayman Islands/ tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.