Morpho,Inc., The Current Fiscal Year Ordinary Profit Revised Upward by 70%

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Fri Sep 13, 2024 4:00 pm JST Earnings

3653 Morpho,Inc. 【J-GAAP】

Earnings Report

Morpho,Inc. <3653> [TSE-G] announced its financial results after the market closed on September 13th (16:00). The consolidated ordinary profit/loss for the cumulative third quarter of the fiscal year ending October 2024 (November 2023 to July 2024) turned into a profit of 194 million yen (compared to a loss of 347 million yen in the same period last year).

In addition, the full-year consolidated ordinary profit has been revised upward by 70.0%, from the previous forecast of 200 million yen to 340 million yen (compared to a loss of 192 million yen in the previous period).

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the May to October period (second half) is expected to increase by 3.5 times, from the previous forecast of 57 million yen to 197 million yen (compared to 99 million yen in the same period of the previous year), turning to a 99.0% increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from May to July (3Q), the consolidated ordinary profit/loss turned to a profit of profit of 51 million yen (compared to a loss of 56 million yen in the same period last year). The operating profit/loss margin drastically improved from -15.7% in the same period last year to 4.3%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Nov - Jul, 2021	1,406	-486	-439	-479	-93.2	ー	Sep 9, 2022	J-GAAP
Nov - Jul, 2022	1,517	-359	-347	-437	-85.4	ー	Sep 8, 2023	J-GAAP
Nov - Jul, 2023	2,353	136	194	160	31.2	57.1	Sep 13, 2024	J-GAAP
YoY	+55.1%	－	－	－	－

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May - Oct, 2024 Prev	1,359	99	57	21	4.0	0	Jun 14, 2024	J-GAAP
May - Oct, 2024 New	1,759	179	197	152	29.1	0	Sep 13, 2024	J-GAAP
Revision Rate	+29.4%	+80.8%	+245.6%	+623.8%	+623.6%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct, 2024 Prev	2,900	200	200	139	26.6	0	Dec 15, 2023	J-GAAP
Oct, 2024 New	3,300	280	340	270	51.7	0	Sep 13, 2024	J-GAAP
Revision Rate	+13.8%	+40.0%	+70.0%	+94.2%	+94.2%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
May - Oct, 2023	1,388	33	99	57	11.1	0	Dec 15, 2023	J-GAAP
May - Oct, 2024 Guidance	1,759	179	197	152	29.1	0	Sep 13, 2024	J-GAAP
YoY	+26.7%	+442.4%	+99.0%	+166.7%	+161.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct, 2022	1,997	-588	-510	-668	-130.0	0	Dec 9, 2022	J-GAAP
Oct, 2023	2,383	-244	-192	-300	-58.5	0	Dec 15, 2023	J-GAAP
Oct, 2024 Guidance	3,300	280	340	270	51.7	0	Sep 13, 2024	J-GAAP
YoY	+38.5%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
May - Jul, 2023	522	-82	-56	-80	-15.6	-15.7	Sep 8, 2023	J-GAAP
Aug - Oct, 2023	866	115	155	137	26.7	13.3	Dec 15, 2023	J-GAAP
Nov - Jan, 2023	655	-73	-77	-86	-16.8	-11.1	Mar 15, 2024	J-GAAP
Feb - Apr, 2024	886	174	220	204	39.9	19.6	Jun 14, 2024	J-GAAP
May - Jul, 2024	812	35	51	42	8.2	4.3	Sep 13, 2024	J-GAAP
YoY	+55.6%	－	－	－	－