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EBRAINS, INC., First Half Ordinary Profit Decreases by 35%, July-September Ordinary Profit Decreases by 45%

Wed Nov 13, 2024 3:30 pm JST Earnings

6599 EBRAINS, INC. 【J-GAAP】

Earnings Report

EBRAINS, INC. <6599> [TSE-S] announced its financial results after the market closed on November 13th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) dropped by 34.8% from the same period last year to 189 million yen. The progress rate against the 530 million yen full-year plan was 35.7%, also falling below the five-year average of 51.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to expand by 70.5% from the same period last year, reaching 341 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 79 million yen, a 45.1% decrease compared to the same period last year. The operating profit margin significantly dropped from 13.6% in the same period last year to 8.5%.

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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
Apr - Sep, 2022 2,052 300 289 186 123.3 44.2 Nov 10, 2022 J-GAAP
Apr - Sep, 2023 2,055 287 290 192 127.5 59.2 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 1,930 188 189 124 82.6 35.7 Nov 13, 2024 J-GAAP
YoY -6.1% -34.5% -34.8% -35.4% -35.2%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 1,900 210 210 140 92.8 0 May 13, 2024 J-GAAP
Apr - Sep, 2024 Results 1,930 188 189 124 82.6 0 Nov 13, 2024 J-GAAP
Revision Rate +1.6% -10.5% -10.0% -11.4% -11.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 1,932 199 200 140 92.8 38 May 13, 2024 J-GAAP
Oct - Mar, 2024 Guidance 2,170 342 341 226 149.8 40 Nov 13, 2024 J-GAAP
YoY +12.3% +71.9% +70.5% +61.4% +61.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 4,258 656 654 426 282.4 27 May 12, 2023 J-GAAP
Mar, 2024 3,987 486 490 332 220.1 38 May 13, 2024 J-GAAP
Mar, 2025 Guidance 4,100 530 530 350 232.0 40 May 13, 2024 J-GAAP
YoY +2.8% +9.1% +8.2% +5.4% +5.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 1,043 142 144 100 66.4 13.6 Nov 13, 2023 J-GAAP
Oct - Dec, 2023 1,027 122 121 82 54.5 11.9 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 905 77 79 58 38.4 8.5 May 13, 2024 J-GAAP
Apr - Jun, 2024 1,020 111 110 70 47.0 10.9 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 910 77 79 54 36.0 8.5 Nov 13, 2024 J-GAAP
YoY -12.8% -45.8% -45.1% -46.0% -45.8%

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