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ispace (9348) investor relations material
ispace Q1 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved first-ever net sales from Mission 2 data service, despite a hard lunar landing due to a hardware malfunction, with corrective actions underway for future missions.
Q1 FY2026 net sales rose 83.5% year-over-year to ¥1,165MM, driven by Mission 2 payload and Mission 3 development progress.
Net loss for Q1 was ¥2.88Bn, mainly due to interest expenses and foreign exchange losses, with operating loss at ¥2.24Bn.
Mission 3 and 4 development is on track for 2027 launches, with subsystem and design tests proceeding as scheduled.
Liquidity was strengthened with ¥15Bn in new loans from SMBC and Mizuho Bank in May, ensuring operational stability.
Financial highlights
Net sales: ¥1,165MM (up 83.5% year-over-year).
Gross profit increased 115.9% year-over-year to ¥231MM, with a margin of 19.8%.
Net loss attributable to owners: ¥2,879MM (vs. ¥1,579MM loss year-over-year).
SG&A rose 3% year-over-year to ¥2,475MM, with higher personnel costs offsetting reduced R&D expenses.
Cash and deposits at end of June 2025 totaled ¥26.46Bn, up ¥13.34Bn from prior year-end.
Outlook and guidance
Full-year net sales forecast is ¥6,200MM, with Q1 progress at 18.8% of target.
Project income (net sales plus SBIR grant) expected to roughly double year-over-year in FY2026/3.
No change to previously announced full-year guidance.
Focus on improving profitability through new contract acquisitions and cost reductions.
Full-year operating loss forecast is ¥11,500MM, net loss forecast is ¥8,300MM.
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