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Institute for Q-shu Pioneers of Space (5595) investor relations material
Institute for Q-shu Pioneers of Space Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 revenue reached ¥425 million, up 21.5% year-over-year, driven by steady development, research projects, and progress in satellite data sales.
Achieved two successful commercial satellite launches, expanding the operational constellation to four satellites and supporting business growth.
The business model centers on developing, manufacturing, and operating small SAR satellites, with data sales primarily to government agencies and growing private/overseas interest.
The company is actively investing in satellite launches and R&D, aiming to expand its SAR satellite constellation to 10 operational satellites by fiscal year-end.
Operating loss widened to ¥410 million due to higher depreciation and cost of sales from increased satellite operations.
Financial highlights
Q1 revenue: ¥425 million, up from ¥350 million year-over-year (21.5% increase).
Operating loss for Q1: ¥410 million (vs. ¥228 million loss year-over-year); net loss: ¥487 million (vs. ¥1,903 million loss year-over-year).
Full-year revenue forecast: ¥4 billion (up 49.2% year-over-year).
Full-year operating loss forecast: ¥2.2 billion; net profit forecast: ¥500 million; EBITDA forecast: ¥2.8 billion.
Q1 EBITDA: negative ¥212 million; EPS: -¥10.18 (improved from -¥51.91 year-over-year).
Outlook and guidance
Full-year net profit expected at ¥500 million, with a turnaround from Q1 losses due to anticipated government subsidies and increased sales in later quarters.
Major revenue and profit contributions are expected in Q4, with a back-loaded earnings structure.
No change to previously announced guidance.
Expansion of satellite constellation and manufacturing capacity to support future growth.
Full-year operating profit forecast: ¥600 million; net profit forecast: -¥2,200 million.
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