Jasmine International Public Company Limited (SET: JAS) reported sales and service income of THB 1,277 million for the third quarter of 2026, representing a 29% year-over-year increase driven by an aggressive expansion into live sports broadcasting.
However, heavy upfront investments in premium broadcasting rights resulted in a net loss attributable to equity holders of THB 723 million. This compares to a net profit of THB 1,861 million in 3Q25, which was significantly boosted by a non-recurring THB 2,619 million interest payment from a legal settlement. Sequentially, net losses narrowed by 10% from THB 800 million in 2Q26.
Key Financial Highlights
- Sales & Service Income: THB 1,277 million, up 29% YoY (+68% YoY to THB 4,172 million for 9M26).
- Net Profit / (Loss): THB (723) million, compared to THB 1,861 million in 3Q25 (+10% QoQ recovery).
- Media & Content Revenue: THB 653 million, surging 83% YoY.
- Cash & Equivalents: Decreased by THB 2,259 million year-to-date due to content rights acquisition.
The company’s Media and Content division anchored growth, generating THB 653 million in revenue—an 83% jump year-over-year. The gain was propelled by robust subscriber acquisition in Thailand and content rights monetization in Vietnam across flagship properties, including Premier League football and international volleyball.
Conversely, the Digital Asset and Technology Solution segment slipped 0.2% YoY to THB 583 million. A smaller internet subscriber base and lower Bitcoin mining output under a flexible cost-optimization strategy were partially offset by enterprise demand for international leased lines.
Core operational profitability was impacted by a 35% YoY increase in cost of sales and services to THB 1,731 million, reflecting broadcasting rights expense recognition. On the non-operating side, JAS recorded a THB 65 million foreign exchange gain.
JAS closed the quarter with total assets of THB 12,971 million. Cash balances fell by THB 2,259 million to fund strategic content acquisitions, while cryptocurrency asset disposals generated THB 1,368 million to reallocate capital toward core operations. Total liabilities stood at THB 7,660 million against THB 5,311 million in equity.
Management remains focused on monetizing its multi-year sports rights, leveraging anti-piracy initiatives to convert illicit viewers into paid streaming subscribers while building year-round audience engagement.
