TRaaS On Product Inc., First Half Ordinary Profit Loss Narrows, 2Q (May-July) Ordinary Profit Loss Narrows

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Tue Sep 10, 2024 3:00 pm JST Earnings

6696 TRaaS On Product Inc. 【J-GAAP】

Earnings Report

TRaaS On Product Inc. <6696> [TSE-G] announced its financial results after the market closed on September 10th (15:00). The ordinary loss (non-consolidated) for the cumulative second quarter of the fiscal year ending January 2025 (February to July) was a reduced loss of 18 million yen (compared to a loss of 65 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit/loss for the August to January period (second half) is expected to turn into a profit of 7 million yen (compared to a loss of 11 million yen in the same period last year).

In the most recent three-month period, from May to July (2Q), the ordinary loss improved to a deficit of loss of 10 million yen (compared to a loss of 45 million yen in the same period last year). The operating profit/loss margin drastically improved from -81.3% in the same period last year to -12.5%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Feb - Jul, 2022	259	-8	-15	-16	-4.4	ー	Sep 6, 2022	J-GAAP
Feb - Jul, 2023	122	-58	-65	-65	-14.6	ー	Sep 12, 2023	J-GAAP
Feb - Jul, 2024	162	-18	-18	-20	-4.2	ー	Sep 10, 2024	J-GAAP
YoY	+32.8%	+69.0%	+72.3%	+69.2%	+70.9%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb - Jul, 2024 Guidance	ー	ー	ー	ー	－	0	Mar 13, 2024	J-GAAP
Feb - Jul, 2024 Results	162	-18	-18	-20	-4.2	0	Sep 10, 2024	J-GAAP
Revision Rate	－	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug - Jan, 2023	188	-11	-11	-20	-4.4	0	Mar 13, 2024	J-GAAP
Aug - Jan, 2024 Guidance	246	7	7	5	1.0	0	Sep 10, 2024	J-GAAP
YoY	+30.9%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	496	-6	-15	-16	-4.3	0	Mar 7, 2023	J-GAAP
Jan, 2024	310	-69	-76	-85	-18.5	0	Mar 13, 2024	J-GAAP
Jan, 2025 Guidance	408	-11	-11	-15	-3.1	0	Mar 13, 2024	J-GAAP
YoY	+31.6%	+84.1%	+85.5%	+82.4%	+83.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	48	-39	-45	-45	-10.1	-81.3	Sep 12, 2023	J-GAAP
Aug - Oct, 2023	74	-17	-17	-17	-3.7	-23.0	Dec 7, 2023	J-GAAP
Nov - Jan, 2023	114	6	6	-3	-0.7	5.3	Mar 13, 2024	J-GAAP
Feb - Apr, 2024	82	-8	-8	-9	-2.1	-9.8	Jun 7, 2024	J-GAAP
May - Jul, 2024	80	-10	-10	-11	-2.3	-12.5	Sep 10, 2024	J-GAAP
YoY	+66.7%	+74.4%	+77.8%	+75.6%	+76.9%