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Photosynth inc., The Current Fiscal Year Ordinary Profit Revised Upward by 7.0 times

Mon Nov 11, 2024 3:30 pm JST Earnings

4379 Photosynth inc. 【J-GAAP】

Earnings Report

Photosynth inc. <4379> [TSE-G] announced its financial results after the market closed on November 11th (15:30). The consolidated ordinary profit/loss for the cumulative third quarter of the fiscal year ending December 2024 (January to September) turned into a profit of 114 million yen (compared to a loss of 134 million yen in the same period last year).

In addition, the full-year consolidated ordinary profit has been revised upward by 7.0 times, from the previous forecast of 10 million yen to 70 million yen (compared to a loss of 222 million yen in the previous period).

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit/loss for the July to December period (second half) has been revised upward from an expected loss of 101 million yen to a loss of 41 million yen (compared to a loss of 130 million yen in the same period of the previous year), indicating a reduction in the loss margin.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit/loss turned to a profit of profit of 3 million yen (compared to a loss of 42 million yen in the same period last year). The operating profit/loss margin drastically improved from -6.8% in the same period last year to 0.1%.

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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 1,445 -489 -477 -459 -29.8 ー Nov 10, 2022 J-GAAP
Jan - Sep, 2023 1,794 -136 -134 -102 -6.6 ー Nov 10, 2023 J-GAAP
Jan - Sep, 2024 2,189 109 114 165 10.7 162.9 Nov 11, 2024 J-GAAP
YoY +22.0% － － － －

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 1,461 -98 -101 -119 -7.7 0 Aug 9, 2024 J-GAAP
Jul - Dec, 2024 New 1,511 -48 -41 -34 -2.2 0 Nov 11, 2024 J-GAAP
Revision Rate +3.4% +51.0% +59.4% +71.4% +71.5%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 Prev 2,900 10 10 25 1.6 0 Feb 13, 2024 J-GAAP
Dec, 2024 New 2,950 60 70 110 7.1 0 Nov 11, 2024 J-GAAP
Revision Rate +1.7% +500.0% +600.0% +340.0% +338.5%

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 1,327 -128 -130 -96 -6.2 0 Feb 13, 2024 J-GAAP
Jul - Dec, 2024 Guidance 1,511 -48 -41 -34 -2.2 0 Nov 11, 2024 J-GAAP
YoY +13.9% +62.5% +68.5% +64.6% +64.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2022 1,994 -609 -600 -578 -37.5 0 Feb 13, 2023 J-GAAP
Dec, 2023 2,493 -221 -222 -175 -11.3 0 Feb 13, 2024 J-GAAP
Dec, 2024 Guidance 2,950 60 70 110 7.1 0 Nov 11, 2024 J-GAAP
YoY +18.3% － － － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 628 -43 -42 -23 -1.5 -6.8 Nov 10, 2023 J-GAAP
Oct - Dec, 2023 699 -85 -88 -73 -4.7 -12.2 Feb 13, 2024 J-GAAP
Jan - Mar, 2024 704 59 61 75 4.9 8.4 May 15, 2024 J-GAAP
Apr - Jun, 2024 735 49 50 69 4.5 6.7 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 750 1 3 21 1.4 0.1 Nov 11, 2024 J-GAAP
YoY +19.4% － － － －

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