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Money Forward
Money Forward (3994) investor relations material
Money Forward Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary15 Oct, 2026
Executive summary
Q3 net sales were ¥17.916bn, up 48% reported and 66% excluding SMARTCAMP deconsolidation; 9M sales rose 32.9% to ¥46,909mn.
Q3 adjusted EBITDA was ¥4.802bn, with a record 26.8% margin; 9M adjusted EBITDA rose 196.5% to ¥9,896mn.
Q3 operating profit reached ¥1.895bn versus a ¥387mn loss YoY; 9M operating profit was ¥1,686mn and parent-attributable profit was ¥498mn.
Growth initiatives emphasized AI-enabled back-office workflows, agents and managed services, alongside planned subscription price revisions.
Financial highlights
Q3 consolidated EBITDA was ¥4.732bn; adjusted EBITDA increased ¥3.360bn YoY to ¥4.802bn. EBITDA excluding HIRAC FUND rose ¥1.608bn YoY to ¥2.997bn.
9M gross profit was ¥32,386mn versus ¥23,929mn YoY; SG&A was ¥30,699mn versus ¥25,909mn.
9M ordinary profit was ¥328mn versus a ¥2,375mn loss, and comprehensive income was ¥2,552mn versus a ¥2,715mn loss.
Q1–Q3 adjusted EBITDA reached ¥9.90bn; business cash flow excluding Card business impact improved ¥2.619bn YoY.
Outlook and guidance
FY26 net sales guidance is ¥60.5–62.3bn, SaaS ARR ¥49.742–52.505bn and adjusted EBITDA ¥10.5–11.5bn; sales growth excluding Nexsol and SMARTCAMP is 33.1%–37.1%.
FY26 operating profit guidance is -¥500mn to ¥1.5bn; ordinary profit -¥2.2bn to -¥200mn; parent-attributable loss ¥3.2bn to ¥700mn.
FY26 business cash flow guidance is ¥2–4bn; EPS guidance is -¥57.82 to -¥12.65 per share.
Medium-term FY28 targets: net sales ¥90bn+, SaaS ARR ¥80bn+, EBITDA ¥27bn+, business cash flow ¥18bn+ and Business segment EBITDA margin 30%+.
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Latest events from Money Forward
- AI-led back-office expansion pairs 8.5x midmarket ARR growth with a 40%+ long-term EBITDA margin target.3994
Investor presentation - Accelerating SaaS and AI-driven growth with strong recurring revenue and global ambitions.3994Investor presentation
- Net sales and ARR surged, profitability improved, and guidance was raised on strong segment growth.3994Q2 2026
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- Record EBITDA and strong ARR growth, with narrowing losses and robust outlook.3994Q3 2025
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Next Money Forward earnings date
Q4 202612 Jan, 2027
Money Forward
Next Money Forward earnings date
Q4 202612 Jan, 2027
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