f-code Inc., January-September (Third Quarter Cumulative) Net Income Increases by 2.1 times, July-September Net Income Increases by 53%

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Thu Nov 14, 2024 4:00 pm JST Earnings

9211 f-code Inc. 【J-GAAP】

Earnings Report

f-code Inc. <9211> [TSE-G] announced its financial results (based on IFRS) 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) surged by 2.1 times that of the same period last year, reaching 593 million yen. The progress rate against the 775 million yen full-year plan was 76.5%, also surpassing the progress rate of 58.1% 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 consolidated net income for the October to December period (4Q) is expected to decrease by 10.3% from the same period last year to 182 million yen.

In the most recent three-month period, from July to September (3Q), the consolidated net income increased by 53.5% from the same period last year, reaching 221 million yen. The operating profit margin jumped from 26.7% in the same period last year to 35.9%.

Kabutan News

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	802	196	193	174	21.1	156.9	Nov 14, 2022	J-GAAP
Jan - Sep, 2023	1,580	415	390	281	27.5	64.6	Nov 14, 2023	IFRS
Jan - Sep, 2024	3,077	1,016	939	593	51.9	73.7	Nov 14, 2024	IFRS
YoY	+94.7%	+144.8%	+140.8%	+111.0%	+88.6%

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	1,618	420	394	342	33.2	0	Feb 14, 2024	IFRS
Jul - Dec, 2024 Guidance	2,596	707	679	403	33.1	0	Aug 14, 2024	IFRS
YoY	+60.4%	+68.3%	+72.3%	+17.8%	-0.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	1,071	131	123	69	8.4	0	Feb 14, 2023	IFRS
Dec, 2023	2,482	644	604	479	46.5	0	Feb 14, 2024	IFRS
Dec, 2024 Guidance	4,633	1,350	1,274	775	63.7	0	Feb 14, 2024	IFRS
YoY	+86.7%	+109.6%	+110.9%	+61.8%	+37.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	716	191	180	144	14.1	26.7	Nov 14, 2023	IFRS
Oct - Dec, 2023	902	229	214	198	19.2	25.4	Feb 14, 2024	IFRS
Jan - Mar, 2024	1,035	337	316	196	18.6	32.6	May 15, 2024	IFRS
Apr - Jun, 2024	1,002	306	279	176	15.9	30.5	Aug 14, 2024	IFRS
Jul - Sep, 2024	1,040	373	344	221	19.3	35.9	Nov 14, 2024	IFRS
YoY	+45.3%	+95.3%	+91.1%	+53.5%	+37.1%