Enterprise technology provider G-Able Public Company Limited (SET: GABLE) posted strong third-quarter 2026 financial results, driven by steady demand for enterprise digital transformation and enhanced internal cost management.
Key Financial Highlights
- Total Revenue: THB 1,866.66 million, up 16% YoY (+14.87% QoQ).
- Net Profit: THB 148.09 million, up 27.36% YoY (+144.86% QoQ).
- Net Profit Margin: 7.93%, expanding from 7.23% in 3Q25 and 3.72% in 2Q26.
- Gross Profit: THB 380.44 million (+10.35% YoY) with a 20.46% margin.
- Balance Sheet Strength: Zero interest-bearing debt with THB 2,599.95 million in unearned revenue visibility.
Total revenue rose 16% year-on-year to THB 1,866.66 million, while net profit jumped 27.36% YoY to THB 148.09 million. On a sequential basis, net profit leaped 144.86%, expanding net profit margins to 7.93% from 3.72% in the preceding quarter.
Revenue growth was driven primarily by core enterprise IT operations. The primary Enterprise Solution and Services segment generated THB 1,353.12 million (72.76% of sales), reflecting a 15.24% YoY increase due to ongoing expansion across cloud and data center modernization, digital business, and managed tech Services.
The Value-added Distribution division grew 24.91% YoY to THB 364.85 million. The Software Platforms segment recorded the fastest growth rate, expanding 70.35% YoY to THB 61.99 million. Conversely, the Business Application segment contracted 17.58% YoY to THB 79.79 million.
Earnings expansion was driven by core operational scaling and cost containment. Gross profit climbed 10.35% YoY to THB 380.44 million. Operational efficiency gains were reflected in lower overhead ratios: selling and distribution expenses fell to 5.54% of total revenue (down from 6.49% in 3Q25), while administrative expenses declined to 5.62% of revenue (down from 6.58% in 3Q25).
GABLE maintains a conservative capital structure with zero interest-bearing debt and a zero debt-to-equity ratio. Cash and cash equivalents represent 17.52% of total assets, which stood at THB 6,504.78 million. In addition, unearned revenue reached THB 2,599.95 million—accounting for 63.15% of total liabilities—providing predictable multi-period contract backlog across maintenance and SaaS offerings.
Management continues to shift focus toward high-margin, high-quality growth under its “AI-Powered Tech Enabler” strategy. Group subsidiary Blendata recently launched “Blendata Apollo,” an enterprise AI data interface, while initiating international market expansion across Southeast Asia to capitalize on regional enterprise AI spending.
