G-Able Public Company Limited (SET: GABLE) has delivered a robust financial performance for the first quarter of 2026, reporting a net profit of THB 82.79 million. This represents a staggering 1,226.39% increase compared to the first quarter of 2025, when the group recorded a net loss of THB 7.35 million.
This dramatic shift was driven by a combination of robust revenue growth, improved margins, and significant reductions in operating expenses.
The group’s total revenue for 1Q26 reached THB 1,519.73 million, marking a 9.62% increase from the same period last year. The primary engine of this growth was the Enterprise Solution and Services segment—the group’s main income source—which grew by 16.73% to THB 1,159.03 million.
This segment benefited from high demand for cloud modernization, cybersecurity, and digital business applications as customers sought to enhance competitiveness. Additionally, the Software Platform business grew by 17.17%, while other income tripled to THB 15.28 million due to fair value adjustments on forward contracts.
Efficiency gains were evident across the board. G-Able’s gross profit margin improved to 19.29%, up from 16.93% in 1Q25, leading to a total gross profit of THB 290.25 million—a 24.14% year-on-year rise.
Meanwhile, the group exercised tight cost control; administrative and other expenses dropped from 10.33% of total revenue last year to just 6.81% in 1Q26. This was partly due to the absence of a one-time management restructuring expense of THB 33.44 million that weighed on the previous year’s results.
The company’s financial position remains strong, with no interest-bearing debt and a total shareholders’ equity of THB 2,407.90 million. Despite slight revenue dips in some segments, G-Able maintains a backlog of over THB 1.4 billion in its Value-added Distribution and Business Application businesses, providing a solid foundation for future revenue recognition.
