Carna Biosciences, Continue Net Income Turns to Loss

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Mon Feb 10, 2025 4:00 pm JST Earnings

4572 Carna Biosciences, Inc. 【J-GAAP】

Earnings Report

Carna Biosciences, Inc. <4572> [TSE Growth] announced its financial results after the market closed on February 10th (16:00). The consolidated net loss for the fiscal year ending December 2024 expanded to a loss of 2.17 billion yen (compared to a loss of 1.15 billion yen in the previous period). In the fiscal year ending December 2025, the loss is nearly flat with a slight decrease of loss of 2.14 billion yen. This will mark the sixth consecutive term of losses.

In the most recent three-month period, from October to December (4Q), the consolidated net income/loss turned to a loss of 0.59 billion yen (compared to a profit of 0.07 billion yen in the same period last year). The operating profit/loss margin drastically worsened from 9.3% in the same period last year to -334.2%.

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Actual Results

Historical Performance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2022	1,386	-1,269	-1,278	-1,349	-99.1	0	Feb 10, 2023	J-GAAP
Dec, 2023	1,625	-1,116	-1,126	-1,152	-68.6	0	Feb 9, 2024	J-GAAP
Dec, 2024	636	-2,076	-2,080	-2,178	-121.6	0	Feb 10, 2025	J-GAAP
YoY	-60.9%	-86.0%	-84.7%	-89.1%	-77.3%

Full Year Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2024 Guidance	630	-2,153	-2,168	-2,180	-114.2	0	Dec 19, 2024	J-GAAP
Dec, 2024 Results	636	-2,076	-2,080	-2,178	-121.6	0	Feb 10, 2025	J-GAAP
Revision Rate	+1.0%	+3.6%	+4.1%	+0.1%	-6.6%

Current Period Guidance

H1 Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jan - Jun, 2024	315	-1,095	-1,087	-1,094	-63.3	0	Aug 7, 2024	J-GAAP
Jan - Jun, 2025 Guidance	ー	ー	ー	ー	－	0	Feb 10, 2025	J-GAAP
YoY	－	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2023	1,625	-1,116	-1,126	-1,152	-68.6	0	Feb 9, 2024	J-GAAP
Dec, 2024	636	-2,076	-2,080	-2,178	-121.6	0	Feb 10, 2025	J-GAAP
Dec, 2025 Guidance	722	-2,133	-2,137	-2,147	-112.4	0	Feb 10, 2025	J-GAAP
YoY	+13.5%	-2.7%	-2.7%	+1.4%	+7.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	914	85	77	78	4.7	9.3	Feb 9, 2024	J-GAAP
Jan - Mar, 2024	180	-416	-394	-398	-23.3	-231.1	May 10, 2024	J-GAAP
Apr - Jun, 2024	135	-679	-693	-696	-40.2	-503.0	Aug 7, 2024	J-GAAP
Jul - Sep, 2024	172	-483	-492	-494	-28.2	-280.8	Nov 8, 2024	J-GAAP
Oct - Dec, 2024	149	-498	-501	-590	-33.0	-334.2	Feb 10, 2025	J-GAAP
YoY	-83.7%	－	－	－	－