AI CROSS Inc., January-September (Third Quarter Cumulative) Ordinary Profit Increases by 45%, Exceeds Full-Year Plan

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Thu Nov 14, 2024 3:30 pm JST Earnings

4476 AI CROSS Inc. 【J-GAAP】

Earnings Report

AI CROSS Inc. <4476> [TSE-G] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 345 million yen, an increase of 45.0% compared to the same period last year. The progress rate against the full-year plan of 295 million yen is 116.9%, already exceeding the target and also exceeding the five-year average of 76.1%.

Based on the third-quarter cumulative performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to December period (4Q) is expected to turn into a loss of 50 million yen (compared to a profit of 53 million yen in the same period last year).

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased by 42.6% from the same period last year, reaching 134 million yen. The operating profit margin rose from 11.0% in the same period last year to 13.9%.

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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	2,457	146	141	86	22.0	64.7	Nov 14, 2022	J-GAAP
Jan - Sep, 2023	2,453	238	238	120	30.5	81.8	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	2,721	347	345	192	51.1	116.9	Nov 14, 2024	J-GAAP
YoY	+10.9%	+45.8%	+45.0%	+60.0%	+67.6%

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	1,601	142	147	94	23.8	0	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	1,487	85	84	50	13.3	0	Sep 12, 2024	J-GAAP
YoY	-7.1%	-40.1%	-42.9%	-46.8%	-44.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	3,305	223	218	95	24.1	0	Feb 14, 2023	J-GAAP
Dec, 2023	3,254	292	291	156	39.5	0	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	3,260	300	295	175	46.6	0	Sep 12, 2024	J-GAAP
YoY	+0.2%	+2.7%	+1.4%	+12.2%	+17.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	800	88	94	58	14.7	11.0	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	801	54	53	36	9.1	6.7	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	885	118	116	72	19.2	13.3	May 15, 2024	J-GAAP
Apr - Jun, 2024	888	97	95	53	14.1	10.9	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	948	132	134	67	17.8	13.9	Nov 14, 2024	J-GAAP
YoY	+18.5%	+50.0%	+42.6%	+15.5%	+21.0%