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Carna Biosciences, Continue Net Income Turns to Loss

Tue Feb 10, 2026 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 ended December 2025 was loss of 2.17 billion yen, a reduction in the deficit compared to loss of 2.17 billion yen in the previous term. For the fiscal year ending December 2026, the consolidated net loss is nearly flat with a slight decrease of loss of 2.09 billion yen. This will mark the seventh consecutive term of losses.

In the most recent three-month period, from October to December (4Q), the consolidated net loss improved to a deficit of 0.57 billion yen (compared to a loss of 0.59 billion yen in the same period last year). The operating profit/loss margin improved from -334.2% in the same period last year to -284.2%.

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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, 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 579 -2,074 -2,144 -2,171 -113.6 0 Feb 10, 2026 J-GAAP
YoY -9.0% +0.1% -3.1% +0.3% +6.6%

Full Year Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Guidance 560 -2,133 -2,196 -2,223 -116.2 0 Dec 18, 2025 J-GAAP
Dec, 2025 Results 579 -2,074 -2,144 -2,171 -113.6 0 Feb 10, 2026 J-GAAP
Revision Rate +3.4% +2.8% +2.4% +2.3% +2.2%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2025 251 -1,052 -1,055 -1,056 -55.3 0 Aug 6, 2025 J-GAAP
Jan - Jun, 2026 Guidance ー ー ー ー － 0 Feb 10, 2026 J-GAAP
YoY － － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 636 -2,076 -2,080 -2,178 -121.6 0 Feb 10, 2025 J-GAAP
Dec, 2025 579 -2,074 -2,144 -2,171 -113.6 0 Feb 10, 2026 J-GAAP
Dec, 2026 Guidance 720 -2,028 -2,053 -2,090 -109.2 0 Feb 10, 2026 J-GAAP
YoY +24.4% +2.2% +4.2% +3.7% +3.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 149 -498 -501 -590 -33.0 -334.2 Feb 10, 2025 J-GAAP
Jan - Mar, 2025 143 -497 -498 -499 -26.1 -347.6 May 9, 2025 J-GAAP
Apr - Jun, 2025 108 -555 -557 -557 -29.2 -513.9 Aug 6, 2025 J-GAAP
Jul - Sep, 2025 144 -499 -535 -544 -28.5 -346.5 Nov 7, 2025 J-GAAP
Oct - Dec, 2025 184 -523 -554 -571 -29.9 -284.2 Feb 10, 2026 J-GAAP
YoY +23.5% -5.0% -10.6% +3.2% +9.3%

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