OpenWork Inc., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 21%, July-September Ordinary Profit Increases by 78%

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Wed Nov 13, 2024 12:00 pm JST Earnings

5139 OpenWork Inc. 【J-GAAP】

Earnings Report

OpenWork Inc. <5139> [TSE-G] announced its financial results at noon (12:00) on November 13th. The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending December 2024 (January to September) increased by 21.3% from the same period last year, reaching 923 million yen. The progress rate against the 1 billion yen full-year plan was 92.3%, also surpassing the progress rate of 89.1% from the same period of the previous year.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to December period (4Q) is expected to decrease by 17.2% from the same period last year to 77 million yen.

In the most recent three-month period, from July to September (3Q), the ordinary profit increased by 78.3% from the same period last year, reaching 453 million yen. The operating profit margin jumped from 33.9% in the same period last year to 47.3%.

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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
Jan - Sep, 2023	2,198	763	761	524	24.7	89.1	Nov 13, 2023	J-GAAP
Jan - Sep, 2024	2,646	922	923	644	30.3	92.3	Nov 13, 2024	J-GAAP
YoY	+20.4%	+20.8%	+21.3%	+22.9%	+22.4%

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	1,474	347	347	265	12.5	0	Feb 13, 2024	J-GAAP
Jul - Dec, 2024 Guidance	1,712	531	530	364	17.1	0	Aug 9, 2024	J-GAAP
YoY	+16.1%	+53.0%	+52.7%	+37.4%	+36.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	2,037	611	590	403	21.6	0	Feb 13, 2023	J-GAAP
Dec, 2023	2,922	856	854	613	28.9	0	Feb 13, 2024	J-GAAP
Dec, 2024 Guidance	3,400	1,000	1,000	685	32.2	0	Feb 13, 2024	J-GAAP
YoY	+16.4%	+16.8%	+17.1%	+11.7%	+11.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	750	254	254	176	8.3	33.9	Nov 13, 2023	J-GAAP
Oct - Dec, 2023	724	93	93	89	4.2	12.8	Feb 13, 2024	J-GAAP
Jan - Mar, 2024	778	69	70	45	2.1	8.9	May 14, 2024	J-GAAP
Apr - Jun, 2024	910	400	400	276	13.0	44.0	Aug 9, 2024	J-GAAP
Jul - Sep, 2024	958	453	453	323	15.2	47.3	Nov 13, 2024	J-GAAP
YoY	+27.7%	+78.3%	+78.3%	+83.5%	+82.8%