Share count
2Mpeak FY2025
← All companies ← GIB Manual GIL → ← GENVR Software GLBE →
GIBO, GIBO Holdings Limited
GIBO.ai offers a suite of AI-powered animation content creation tools through GIBO Create , our integrated suite of AI-powered content creation tools which enables content creators on our platform to improve their productivity and effortlessly become pros at content production.
As of the same date, we had an average of approximately 34.5 million MAUs on our platform since its launch in September 2023.
On our platform, young people create AI-powered content, discover the things they love, and interact and engage with one another.
The business
What it sells, where the money comes from, the kind of company it is.
Revenue · FY2024
$30M
Vital signs · TTM
Cash burn · annual $121M
Gross margin 85%
The business in brief
read the 10-K →What this business is and what moves its needle, from its own SEC filings.
- Situation
- Unprofitable. No meaningful revenue yet; the record is the cash on hand against the burn.
- What moves the needle
- Retention and the cost of growth. What decides it: whether customers expand rather than churn, how much of revenue is spent winning the next one, and whether software's gross margin holds as it scales. On its own account, the filing leans hardest on pricing power & competition, set against the numbers in what the filing emphasizes, below.
Every line is arithmetic on the company's filings, shown in full in the sections below.
The record
Ten years of arithmetic, read across the cycle.
The record, charted
FY2023–2025Each measure over its full record; the current point and the worst year marked.
Net income is the accountant's number; owner earnings is the cash an owner could take out. The walk between them, off the cash-flow statement, and whether the gap is widening or holding.
In fiscal 2024 the business earned $23M of owner earnings, the operating cash left after the $209K it takes just to hold its position. It put $30M more into growth; free cash flow, after that spending, was ($6M).
| FY2024 | |
|---|---|
| Reported net income | ($25M) |
| Depreciation & amortizationnon-cash charge added back | +$209K |
| Working capital & othertiming of cash in and out, other non-cash items | +$48M |
| Cash from operations | $24M |
| Maintenance capital expenditurethe spending needed just to hold position and volume | −$209K |
| Owner earnings | $23M |
| Growth capital expenditurediscretionary; spent to get bigger, not to stand still | −$30M |
| Free cash flow | ($6M) |
| Owner-earnings marginowner earnings ÷ revenue | 78% |
Owner earnings is the cash an owner could pull out without starving the business: operating cash less the maintenance capital it must spend to hold its position (here about $209K, roughly its depreciation, the rate its assets wear out). The other $30M of its capital spending is growth it chose, not upkeep it owed; charged only with the maintenance it must do, the business earns well more than the year's free cash flow shows.
Maintenance capex is estimated as depreciation where a growing business invests above it; free cash flow is the figure the scorecard's free-cash margin reads.
Quality & stewardship
Returns, the balance sheet, capital allocation, and pay.
Owner’s Scorecard
FY2024 20-F · source on SEC EDGAR →
Will it survive?
- Can it pay its interest? -280.4×Does not cover its interestOperating income ($231M) ÷ interest expense $824K
What this means
A full year of operating profit didn't cover the interest bill. This is the zombie zone: the business depends on refinancing, asset sales, or forbearance to service its debt.
- Not enough data
What this means
The filing data didn't include the inputs for this check.
- Not enough data
What this means
The filing data didn't include the inputs for this check.
Is it a good business?
- Not enough dataIndustry peers: median -40%
What this means
The filing data didn't include the inputs for this check.
- Owner-earnings margin -444%Consumes cashOwner earnings ($133M) = operating cash ($121M) − maintenance capex $12MIndustry peers: median -34%
What this means
What an owner could take out without starving the business: operating cash less the maintenance capital it must spend to hold its position — Buffett's owner earnings. That's -444% of revenue this year. It chose to put $18M more into growth, so free cash flow this year was ($151M) — the gap is investment, not weakness.
- Are earnings backed by cash? ($121M)Loss, and burning cashNet income ($232M) · cash from operations ($121M)
What this means
The company reported a net loss, so a conversion ratio isn't meaningful. What matters then is whether operations still threw off cash, here, they did not.
How is the cash used?
- Not enough data
What this means
The filing data didn't include the inputs for this check.
- Investing or harvesting? 2.56×ExpandingCapex $30M ÷ depreciation $12M
What this means
Descriptive, not a grade. Above ~1× means investing faster than assets wear out (growth, or, sustained for years, today's earnings carrying less depreciation than tomorrow's will). Below means spending less than it's wearing out (efficiency, or a melting asset base). The ratio won't tell you which; the filings will.
Graham’s defensive tests · 0 of 2 met
Graham’s numerical criteria for the defensive investor (The Intelligent Investor, ch. 14), run on the filings. A floor of safety, not a buy signal; many fine modern businesses fail his strictest liquidity rules by design.
- Adequate size MissRevenue ≥ $2B · $30M
What this means
Big enough to weather a storm. Graham's 1972 floor was ~$100M of sales (≈ $700M today); we use a $2B revenue line as a conservative modern stand-in.
- Strong liquidity MissCurrent ratio ≥ 2× · 0.35×
What this means
Current assets at least twice current liabilities, near-term bills covered without touching the business. Strict by design: many cash-rich modern firms run leaner and miss it, holding their cushion in longer-dated securities.
- Moderate price —P/E ≤ 15 and P/E × P/B ≤ 22.5 · decided by the price
What this means
Graham's valuation gate, the wall he kept between a sound business and a sound investment. Three-year average earnings are $-37.24/share (latest year $-96.36), the averaged base the calculator's gate runs on, and book value is $-59.99/share. Enter a price in “What the price implies” just below for the P/E, P/B, and whether it clears. But this is the rule Buffett outgrew: there's no hard P/E law, and a wonderful business can deserve a far richer multiple if the thesis holds, treat it as the bargain-hunter's floor, not a verdict on the price.
Does AI threaten the moat?
Elevated contestabilityThe product is software or information, the very thing capable AI now produces more cheaply, so the moat is more contestable than the record alone implies.
In its own filing A competitive risk, new this year
Its FY2025 10-K names artificial intelligence as a competitive threat, in language that was not in the prior year's filing.
“Similar to many disruptive innovations, AI technologies present risks and challenges that could affect user perception and public opinion.”
AI has collapsed the cost of building a capable substitute for the very thing this business sells. When a credible alternative can be assembled for a fraction of the incumbent's price, it is pricing power that erodes first, not revenue tomorrow. The live question is whether the moat survives that, not whether it held in the past. Whether that question is answerable at all is yours to decide, against your own circle of competence.
Read from the filing's own risk factors, paired with the industry's structure under its SIC code; the durability is read above, the price below.
All figures as filed; the source filing is linked above.
Current Position
as of fiscal year-end, Dec 31, 2025Can the business pay what it owes this year, off the freshest balance sheet: the quality of the assets, the debt actually coming due, and what a low ratio means here.
Current assets$616K
- Other current assets$616K
Current liabilities$2M
- Other current liabilities$2M
Current ratio0.35×all current assets ÷ what's due · Graham looked for 2×
Quick ratio0.35×stricter: inventory excluded
Cash ratio0.00×strictest: cash alone against what's due
Working capital($1M)the cushion left after near-term bills
Deeper floors
Tangible book value($145M)equity stripped of goodwill & intangibles
Net current asset value($145M)Graham's net-net: current assets less all liabilities
Debt incl. operating leases$31K$31K of it operating leases
From the company's latest filing.
Peers, Software
The same industry, side by side on owner economics. Each figure is a through-cycle median, so a peak or trough year can’t distort it; the group median at the foot is the line to read each against.
| Company | Revenue | Gross margin | Op. margin | ROIC | Owner earn. margin |
|---|---|---|---|---|---|
| RDVTRed Violet Inc. Common Stock | $90M | — | -3.0% | -3% | 20% |
| SVCOSilvaco Group Inc. | $63M | 80% | -67.5% | -40% | -34% |
| RCATRed Cat Holdings Inc. | $41M | 18% | -562.0% | -53% | -250% |
| GIBOGIBO Holdings Limited | $30M | 85% | -770.3% | — | -444% |
| DUOTDuos Technologies Group Inc. | $27M | 29% | -64.1% | -240% | -57% |
| QXLQuantum X Labs Inc. | $27M | 95% | -9.4% | -2% | 3% |
| QBTSD-Wave Quantum Inc. | $25M | 68% | -724.6% | -1142% | -582% |
| GEGGLGreat Elm Group, Inc. | $16M | 93% | -46.5% | -12% | -3% |
| Group median | — | 80% | -65.8% | — | -45% |
The price
What a price has to assume.
What the price implies
reverse-DCFEnter the US price, in dollars: the NYSE/Nasdaq quote you hold. GIBO Holdings Limited's US listing is the ordinary share itself. The record tables elsewhere on this page remain as filed.
GIBO Holdings Limited is profitable, but owner earnings are negative this year because capital spending currently outruns operating cash, a build-out, so the owner-earnings reverse-DCF has no positive base to grow. We read the price from both ends instead: type a price to see the steady-state profitability it demands, then set the mature margin you would believe and weigh the two against each other. Nothing leaves your browser unless you enter it in your notebook.
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The assumptions
Enter a price to run it.
Owner earnings it must reach—
Margin the price demands—
Owner-earnings margin today−505%
A dated snapshot of the price you typed, the assumptions you set, and what the page showed for them. A snapshot is never edited after it is saved. Your notebook is yours alone — the commitment states what is stored and what we will never do.
Two reads of one future. From your price: the owner earnings the company must reach, valued at a mature multiple and discounted back at your rate, expressed as the margin it implies on revenue grown at your rate. From your belief: the mature margin you would credit, set on the dial above. When the margin the price demands runs above the one you would believe, you are paying for a future taken on faith. For a deep cyclical at a trough, normalized through-cycle earnings are the better lens; this mode is for the genuinely unprofitable, and for the profitable business whose capital spending currently outruns its cash.
Cite: Owner Scorecard, "GIBO Holdings Limited (GIBO), the owner's record," https://ownerscorecard.com/c/GIBO, data as of 2026-07-09.
Manual order: ← GIB its page in the Manual GIL →
Industry order: ← GENVR the Software chapter GLBE →