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Carna Biosciences, Continue Net Income Turns to Loss

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 -112.2 0 Feb 10, 2025 J-GAAP
YoY +13.5% -2.7% -2.7% +1.4% +7.8%

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% － － － －

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