Photosynth inc., The Current Fiscal Year Ordinary Profit Revised Upward by 7.0 times

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Mon Nov 11, 2024 3:30 pm JST Earnings

4379 Photosynth inc. 【J-GAAP】

Earnings Report

Photosynth inc. <4379> [TSE-G] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit/loss for the cumulative third quarter of the fiscal year ending December 2024 (January to September) turned into a profit of 114 million yen (compared to a loss of 134 million yen in the same period last year).

In addition, the full-year consolidated ordinary profit has been revised upward by 7.0 times, from the previous forecast of 10 million yen to 70 million yen (compared to a loss of 222 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/loss for the July to December period (second half) has been revised upward from an expected loss of 101 million yen to a loss of 41 million yen (compared to a loss of 130 million yen in the same period of the previous year), indicating a reduction in the loss margin.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit/loss turned to a profit of profit of 3 million yen (compared to a loss of 42 million yen in the same period last year). The operating profit/loss margin drastically improved from -6.8% in the same period last year to 0.1%.

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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
Jan - Sep, 2022	1,445	-489	-477	-459	-29.8	ー	Nov 10, 2022	J-GAAP
Jan - Sep, 2023	1,794	-136	-134	-102	-6.6	ー	Nov 10, 2023	J-GAAP
Jan - Sep, 2024	2,189	109	114	165	10.7	162.9	Nov 11, 2024	J-GAAP
YoY	+22.0%	－	－	－	－

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024 Prev	1,461	-98	-101	-119	-7.7	0	Aug 9, 2024	J-GAAP
Jul - Dec, 2024 New	1,511	-48	-41	-34	-2.2	0	Nov 11, 2024	J-GAAP
Revision Rate	+3.4%	+51.0%	+59.4%	+71.4%	+71.5%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	2,900	10	10	25	1.6	0	Feb 13, 2024	J-GAAP
Dec, 2024 New	2,950	60	70	110	7.1	0	Nov 11, 2024	J-GAAP
Revision Rate	+1.7%	+500.0%	+600.0%	+340.0%	+338.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2023	1,327	-128	-130	-96	-6.2	0	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	1,511	-48	-41	-34	-2.2	0	Nov 11, 2024	J-GAAP
YoY	+13.9%	+62.5%	+68.5%	+64.6%	+64.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	1,994	-609	-600	-578	-37.5	0	Feb 13, 2023	J-GAAP
Dec, 2023	2,493	-221	-222	-175	-11.3	0	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	2,950	60	70	110	7.1	0	Nov 11, 2024	J-GAAP
YoY	+18.3%	－	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	628	-43	-42	-23	-1.5	-6.8	Nov 10, 2023	J-GAAP
Oct - Dec, 2023	699	-85	-88	-73	-4.7	-12.2	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	704	59	61	75	4.9	8.4	May 15, 2024	J-GAAP
Apr - Jun, 2024	735	49	50	69	4.5	6.7	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	750	1	3	21	1.4	0.1	Nov 11, 2024	J-GAAP
YoY	+19.4%	－	－	－	－