NusaTrip Incorporated

What they do

Nusatrip acts as an intermediary between travelers and travel suppliers such as airlines and hotels, offering a one-stop platform to search, compare, and book flights, hotels, car rentals, and other travel-related services. It operates in Indonesia, Singapore, Vietnam, the Philippines and Thailand, and earns revenue through commissions, service fees, and advertising partnerships. The company negotiates agreements with airlines, hotels and other suppliers to access inventory and offer competitive prices. Its ultimate holding company is Society Pass Incorporated, which holds the travel business through Nusatrip Inc following a November 2023 restructuring.

Revenue drivers

• Online ticketing and reservation services — Core OTA business across Indonesia, Singapore, Vietnam, the Philippines and Thailand, generating commissions and service fees as an intermediary between travelers and airlines and hotels.
• Advertising partnerships — An additional revenue stream alongside commissions and service fees, though no separate revenue figure is disclosed in the excerpts.
• Travel agency subsidiaries — Vietnam operations via Mekong Leisure Travel Company Limited and Vietnam International Travel and Service Joint Stock Company, acquired in 2023, contribute to the group's travel services revenue.
• Telecommunications reseller — Nusatrip Comm Pte. Ltd., acquired September 1, 2025 for S$10,000, is engaged in telecommunication resellers; no revenue contribution is quantified.

Recent performance

Quarterly revenue was $993,041 for the quarter ended June 30, 2025, up from $173,500 in the prior-year quarter. Revenue for the quarter ended September 30, 2025 was $768,674, compared with $173,446 a year earlier. As of September 30, 2025, total assets were $27.0 million, total liabilities $16.4 million, and shareholders' equity $12.5 million, with $5.1 million in cash and equivalents. No profitability, margin, or expense figures are provided in the excerpts.

Strategy

The company has been assembling a regional travel group under Nusatrip Inc through a series of common-control reorganizations and acquisitions completed under SOPA. In 2025 it added Nusatrip Technology (Beijing) Co., Ltd. in May, Nusatrip (Hong Kong) Limited for HK$1 in July, and Nusatrip Comm Pte. Ltd. in September, extending its footprint into China, Hong Kong, and Singapore telecommunications resale. The filings describe Nusatrip as an OTA offering a one-stop booking platform across Southeast Asia, competing by negotiating supplier inventory access and competitive prices. No capital expenditure, marketing budget, or other forward investment plans are quantified in the excerpts.

Risks

• Listing-rule and delisting risk — The company disclosed delisting notices or listing-rule failures in 8-K filings dated June 1, 2026 and August 7, 2026.
• Control by parent SOPA — Ultimate holding company Society Pass Incorporated controls the group, and the reorganization and acquisitions were executed as common-control transactions at parent direction.
• Accounting and management turnover — The company changed accountants twice in June 2026 (June 8 and June 15) and reported director or officer changes in May and June 2026.
• Travel-demand and supplier dependence — Revenue depends on commissions from airlines, hotels and other travel suppliers across Southeast Asia and China, leaving results exposed to travel demand and supplier terms.

Outlook

The excerpts do not include specific forward guidance from management. The MD&A consists primarily of boilerplate forward-looking-statement language and the company's reorganization history, and it states that the report is intended to update the Form 10-K for the year ended December 31, 2024. Management notes that forward-looking statements speak only as of the date of the quarterly report and that it assumes no responsibility to update them.