KHEOBA Ltd transformed its business model in early 2025, shifting from a tourism entity to a software and Web3 consulting firm focused on SMEs in Asia-Pacific. This strategic pivot fueled approximately 28-fold revenue growth to over $1.16 million and positive net income in fiscal 2025. Its operating leverage and improved working capital management enabled a robust operating margin above 40%, supported by a project-based pricing model and commission revenues. However, the company’s concentrated client base—top five clients accounted for 83% of revenue—poses risk amid competitive pressures and regulatory complexity. Looking ahead, expansion in Singapore and Hong Kong markets and modular software development signal growth potential but require more diversification and ongoing capital investment.