Nulab Inc., First Half Ordinary Profit Increases by 58%, July-September Ordinary Profit Increases by 40%

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Thu Nov 14, 2024 3:30 pm JST Earnings

5033 Nulab Inc. 【J-GAAP】

Earnings Report

Nulab Inc. <5033> [TSE-G] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 375 million yen, an increase of 58.2% compared to the same period last year. The progress rate against the 406 million yen full-year plan was 92.4%, also surpassing the progress rate of 71.8% from the same period of the previous year.

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 significant drop by 66.7% from the same period last year to 31 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased by 40.0% from the same period last year, reaching 196 million yen. The operating profit margin rose from 15.8% in the same period last year to 19.1%.

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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	1,289	8	-5	-2	-0.5	ー	Nov 14, 2022	J-GAAP
Apr - Sep, 2023	1,735	239	237	198	30.7	71.8	Nov 14, 2023	J-GAAP
Apr - Sep, 2024	2,019	374	375	265	40.9	92.4	Nov 14, 2024	J-GAAP
YoY	+16.4%	+56.5%	+58.2%	+33.8%	+33.1%

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	ー	ー	ー	ー	－	0	May 14, 2024	J-GAAP
Apr - Sep, 2024 Results	2,019	374	375	265	40.9	0	Nov 14, 2024	J-GAAP
Revision Rate	－	－	－	－	－

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	1,927	93	93	110	17.1	0	May 14, 2024	J-GAAP
Oct - Mar, 2024 Guidance	1,918	32	31	22	3.4	0	Nov 14, 2024	J-GAAP
YoY	-0.5%	-65.6%	-66.7%	-80.0%	-80.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,706	101	92	88	14.0	0	May 12, 2023	J-GAAP
Mar, 2024	3,662	332	330	308	47.7	0	May 14, 2024	J-GAAP
Mar, 2025 Guidance	3,937	406	406	287	44.3	0	May 14, 2024	J-GAAP
YoY	+7.5%	+22.3%	+23.0%	-6.8%	-7.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	896	142	140	104	16.1	15.8	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	944	198	198	168	26.1	21.0	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	983	-105	-105	-58	-9.0	-10.7	May 14, 2024	J-GAAP
Apr - Jun, 2024	998	179	179	131	20.3	17.9	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	1,021	195	196	134	20.7	19.1	Nov 14, 2024	J-GAAP
YoY	+14.0%	+37.3%	+40.0%	+28.8%	+28.1%