Appirits Inc., First Half Net Income Turns to Loss, 2Q (May-July) Net Income Turns to Loss

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Fri Sep 13, 2024 3:00 pm JST Earnings

4174 Appirits Inc. 【J-GAAP】

Earnings Report

Appirits Inc. <4174> [TSE-S] announced its financial results after the market closed on September 13th (15:00). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending January 2025 (February to July) turned into a loss of 16 million yen (compared to a profit of 151 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 consolidated net income for the August to January period (second half) is expected to decrease by 25.5% from the same period last year to 175 million yen.

In the most recent three-month period, from May to July (2Q), the consolidated net income/loss turned to a loss of 92 million yen (compared to a profit of 89 million yen in the same period last year). The operating profit/loss margin drastically worsened from 7.2% in the same period last year to -5.3%.

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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	3,131	167	153	92	23.1	34.4	Sep 13, 2022	J-GAAP
Feb - Jul, 2023	4,137	258	257	151	37.0	43.1	Sep 14, 2023	J-GAAP
Feb - Jul, 2024	4,221	13	10	-16	-3.9	3.4	Sep 13, 2024	J-GAAP
YoY	+2.0%	-95.0%	-96.1%	－	－

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	4,221	13	10	-16	-3.9	8	Sep 9, 2024	J-GAAP
Feb - Jul, 2024 Results	4,221	13	10	-16	-3.9	8	Sep 13, 2024	J-GAAP
Revision Rate	0.0%	0.0%	0.0%	0.0%	-1.0%

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	4,290	341	339	235	57.4	6	Mar 15, 2024	J-GAAP
Aug - Jan, 2024 Guidance	4,779	288	285	175	43.0	8	Sep 9, 2024	J-GAAP
YoY	+11.4%	-15.5%	-15.9%	-25.5%	-25.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan, 2023	7,323	462	445	210	52.2	10	Mar 17, 2023	J-GAAP
Jan, 2024	8,427	599	596	386	94.3	12	Mar 15, 2024	J-GAAP
Jan, 2025 Guidance	9,000	301	295	159	39.1	16	Sep 9, 2024	J-GAAP
YoY	+6.8%	-49.7%	-50.5%	-58.8%	-58.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	2,125	153	152	89	21.8	7.2	Sep 14, 2023	J-GAAP
Aug - Oct, 2023	2,180	191	190	120	29.4	8.8	Dec 15, 2023	J-GAAP
Nov - Jan, 2023	2,110	150	149	115	28.1	7.1	Mar 15, 2024	J-GAAP
Feb - Apr, 2024	2,136	124	123	76	18.5	5.8	Jun 14, 2024	J-GAAP
May - Jul, 2024	2,085	-111	-113	-92	-22.5	-5.3	Sep 13, 2024	J-GAAP
YoY	-1.9%	－	－	－	－