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Carna Biosciences, Jan-Sep (Cumulative 3Q) Net Income Loss Widens, Jul-Sep Net Income Loss Widens

Fri Nov 7, 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 November 7th (16:00). The consolidated net loss for the cumulative third quarter of the fiscal year ending December 2025 (January to September) expanded to a loss of 1.60 billion yen (compared to a loss of 1.58 billion yen in the same period last year).

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net loss for the October to December period (4Q) is expected to further decrease loss of 0.54 billion yen (compared to a loss of 0.59 billion 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 0.54 billion yen (compared to a loss of 0.49 billion yen in the same period last year). The operating profit/loss margin drastically worsened from -280.8% in the same period last year to -346.5%.

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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, 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
Jan - Sep, 2025 395 -1,551 -1,590 -1,600 -83.8 ー Nov 7, 2025 J-GAAP
YoY -18.9% +1.7% -0.7% -0.8% +7.5%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 321 -981 -993 -1,084 -60.5 0 Feb 10, 2025 J-GAAP
Jul - Dec, 2025 Guidance 471 -1,081 -1,082 -1,091 -57.0 0 Aug 6, 2025 J-GAAP
YoY +46.7% -10.2% -9.0% -0.6% +5.8%

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
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
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
YoY -16.3% -3.3% -8.7% -10.1% -1.1%

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