Webuy Global reported a sharp increase in first-half 2026 revenue as the company continued its shift away from grocery e-commerce toward travel services. Revenue from continuing operations rose 94.4% year over year to $14.31 million for the six months ended June 30, while gross profit increased 131.7% to $1.83 million, according to a Sept. 28 filing with the U.S. Securities and Exchange Commission.
The company’s gross margin improved to 12.77% from 10.71% a year earlier, an increase of 206 basis points. Total net loss narrowed 56.8% to $3.32 million from $7.69 million in the prior-year period. Webuy said the comparative figures were retrospectively reclassified to reflect the Singapore grocery business as discontinued operations following its disposal in 2025.
Packaged tours accounted for all revenue from continuing operations in the first half. Singapore packaged-tour revenue increased 106.8% to about $10.81 million, while Indonesia packaged-tour revenue rose 106.9% to approximately $3.49 million. Webuy attributed the Singapore increase partly to new contributions from its Altitude premium travel brand and Meetings, Incentives, Conferences and Exhibitions division, while it said Indonesia benefited from continued market penetration and demand for outbound travel products.
The increase in revenue came with higher direct costs associated with the expansion of the travel business. Cost of revenues from continuing operations rose 89.9% to $12.48 million, including $12.34 million in direct packaged-tour costs compared with $6.03 million a year earlier. Those costs primarily included payments to airlines, hotels, transportation operators and other travel service providers.
Webuy also reduced its general and administrative expenses by 24% to approximately $4.74 million from $6.24 million. The company attributed the decrease primarily to lower expected credit-loss provisions and the absence of penalty compensation related to loan covenant breaches that had been recognized in the prior-year period. Selling and distribution expenses, however, increased 119.2% to about $1.10 million as the company spent more on marketing, advertising and customer acquisition.
The lower net loss also reflected reduced finance costs and the absence of losses from discontinued operations. Finance costs fell to about $52,600 from $587,000 after Webuy repaid and settled interest-bearing borrowings in the second half of 2025. The company reported a $3.32 million loss from continuing operations, compared with $5.96 million a year earlier, while the 2025 period also included a $1.73 million loss from discontinued operations.
Webuy said it is now focusing on travel operations and technology-enabled services, with China inbound tourism identified as a key area for its next phase of development. Through its WeTrip platform, the company plans to offer overseas visitors private and customized China travel experiences, including itinerary planning, transportation coordination and on-trip support. It also plans to integrate artificial intelligence into sales, itinerary planning, quotations, supplier coordination and customer service.
The company reported approximately $4.76 million in preliminary, unaudited travel bookings at the August 2026 NATAS Travel Fair in Singapore, about 42% above bookings at its March event. Webuy cautioned that bookings represent the gross value of travel products reserved rather than recognized revenue and may be subject to cancellation, modification or other adjustments.
Despite the improvement in reported earnings, Webuy said it continued to incur recurring operating losses and had limited cash resources as of June 30, raising substantial doubt about its ability to continue as a going concern. Cash and cash equivalents stood at $2.44 million at the end of the first half, compared with $911,325 a year earlier, while net cash used in operating activities increased to $2.61 million from $2.22 million.
The company said it expects to improve liquidity through operating cash flow, equity financing and other fundraising activities. It also has an equity line of credit with Dogwood Partners and made its first sale under the facility in July, issuing 50,000 ordinary shares at $0.74108 each for gross proceeds of $37,054.
Webuy’s first-half results therefore reflect both a significant change in its revenue mix and continued financial pressure as it scales the travel business. The company remains loss-making and dependent on additional financing and improvements in operating cash flow while it develops its travel-focused strategy.
