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Carna Biosciences, Inc., January-September (Third Quarter Cumulative) Net Income Loss Widens, July-September Net Income Loss Widens

Fri Nov 8, 2024 4:00 pm JST Earnings

4572 Carna Biosciences, Inc. 【J-GAAP】

Earnings Report

Carna Biosciences, Inc. <4572> [TSE-G] announced its financial results after the market closed on November 8th (16:00). The consolidated net loss for the cumulative third quarter of the fiscal year ending December 2024 (January to September) expanded to a loss of 1.58 billion yen (compared to a loss of 1.23 billion yen in the same period last 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/loss for the October to December period (4Q) is expected to turn into a loss of 637 million yen (compared to a profit of 78 million yen in the same period last year).

In the most recent three-month period, from July to September (3Q), the consolidated net loss expanded to a loss of 494 million yen (compared to a loss of 345 million yen in the same period last year). The operating profit/loss margin drastically worsened from -160.2% in the same period last year to -280.8%.

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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 1,095 -753 -735 -795 -58.6 ー Nov 7, 2022 J-GAAP
Jan - Sep, 2023 711 -1,201 -1,203 -1,230 -73.7 ー Nov 7, 2023 J-GAAP
Jan - Sep, 2024 487 -1,578 -1,579 -1,588 -90.5 ー Nov 8, 2024 J-GAAP
YoY -31.5% -31.4% -31.3% -29.1% -22.8%

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 1,125 -253 -258 -267 -15.9 0 Feb 9, 2024 J-GAAP
Jul - Dec, 2024 Guidance 610 -1,106 -1,121 -1,131 -59.2 0 Aug 7, 2024 J-GAAP
YoY -45.8% -337.2% -334.5% -323.6% -272.5%

Current Period Guidance

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 Guidance 925 -2,201 -2,208 -2,225 -116.5 0 Feb 9, 2024 J-GAAP
YoY -43.1% -97.2% -96.1% -93.1% -69.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 211 -338 -335 -345 -20.7 -160.2 Nov 7, 2023 J-GAAP
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
YoY -18.5% -42.9% -46.9% -43.2% -36.2%

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