Cyber Security Cloud, Inc., The Current Fiscal Year Net Income Revised Downward by 3%

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Thu Nov 14, 2024 4:00 pm JST Earnings

4493 Cyber Security Cloud, Inc. 【J-GAAP】

Earnings Report

Cyber Security Cloud, Inc. <4493> [TSE-G] announced its financial results after the market closed on November 14th (16:00). The consolidated net income for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to 471 million yen, an increase of 38.1% compared to the same period last year.

However, the full-year consolidated net income has downwardly by 2.9%, from the previous forecast of 485 million yen to 471 million yen (compared to 427 million yen in the previous period), leading to a reduction in the profit growth rate from 13.6% to 10.3%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income for the July to December period (second half) has downwardly by 12.4%, from the previous forecast of 113 million yen to 99 million yen (compared to 207 million yen in the same period of the previous year), leading to an increase in the profit decline rate from 45.4% to 52.2%.

In the most recent three-month period, from July to September (3Q), the consolidated net income decreased to 99 million yen, a 18.2% decrease compared to the same period last year. However, the operating profit margin rose from 21.4% in the same period last year to 21.7%.

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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	1,626	258	276	217	23.2	69.9	Nov 14, 2022	J-GAAP
Jan - Sep, 2023	2,220	468	497	341	36.2	88.9	Nov 14, 2023	J-GAAP
Jan - Sep, 2024	2,801	697	698	471	51.1	99.7	Nov 14, 2024	J-GAAP
YoY	+26.2%	+48.9%	+40.4%	+38.1%	+41.3%

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	2,057	211	151	113	12.3	0	Aug 14, 2024	J-GAAP
Jul - Dec, 2024 New	1,957	211	151	99	10.8	0	Nov 14, 2024	J-GAAP
Revision Rate	-4.9%	0.0%	0.0%	-12.4%	-12.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Prev	3,900	700	700	485	52.7	0	Feb 14, 2024	J-GAAP
Dec, 2024 New	3,800	700	700	471	51.2	0	Nov 14, 2024	J-GAAP
Revision Rate	-2.6%	0.0%	0.0%	-2.9%	-2.9%

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	1,605	245	237	207	22.0	0	Feb 14, 2024	J-GAAP
Jul - Dec, 2024 Guidance	1,957	211	151	99	10.8	0	Nov 14, 2024	J-GAAP
YoY	+21.9%	-13.9%	-36.3%	-52.2%	-51.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	2,275	385	395	306	32.6	0	Feb 14, 2023	J-GAAP
Dec, 2023	3,060	549	559	427	45.3	0	Feb 14, 2024	J-GAAP
Dec, 2024 Guidance	3,800	700	700	471	51.2	0	Nov 14, 2024	J-GAAP
YoY	+24.2%	+27.5%	+25.2%	+10.3%	+13.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	765	164	175	121	12.8	21.4	Nov 14, 2023	J-GAAP
Oct - Dec, 2023	840	81	62	86	9.1	9.6	Feb 14, 2024	J-GAAP
Jan - Mar, 2024	953	315	342	235	25.2	33.1	May 15, 2024	J-GAAP
Apr - Jun, 2024	890	174	207	137	14.9	19.6	Aug 14, 2024	J-GAAP
Jul - Sep, 2024	958	208	149	99	10.7	21.7	Nov 14, 2024	J-GAAP
YoY	+25.2%	+26.8%	-14.9%	-18.2%	-16.3%