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Liberaware (218A) investor relations material
Liberaware Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record revenue growth and first-ever recurring profit, driven by expansion in the indoor drone inspection market and increased recognition of products like IBIS.
Focused on providing drone and data solutions for industrial infrastructure inspection, especially in confined, hazardous environments.
Major growth in both domestic and overseas markets, with new industry applications such as sewer inspections and expansion into Korea, Hong Kong, and Malaysia.
Advanced three major government-backed SBIR projects, including disaster response and railway inspection solutions.
Established a wholly owned Korean subsidiary to expand overseas presence.
Financial highlights
FY2025 revenue: ¥1,406.9 million (+72% YoY); gross profit: ¥669 million (+86% YoY); gross margin: 47% (+3pts YoY).
Operating and recurring profit turned positive, with recurring profit at ¥46.9 million, a ¥480 million improvement YoY.
Q4 revenue hit a record ¥426 million, driven by strong sales of IBIS2 and large inspection projects.
Cash and equivalents at year-end were ¥751.9 million.
No dividends declared for the fiscal year.
Outlook and guidance
FY2026 revenue forecast: ¥2,220 million (+57.8% YoY); gross profit: ¥1,123 million (+67% YoY); gross margin target: 50%.
Operating loss expected to widen to ¥2,412 million; net loss forecast at ¥178 million, reflecting significant R&D and SBIR project costs.
Continued high growth expected, with investments prioritized for future expansion, especially in R&D and overseas markets.
Adjusted recurring profit (excluding SBIR grant timing and stock compensation) expected to remain positive.
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