APT Medical (688617) Q4 2025 earnings summary

Executive summary

• Achieved revenue of ¥2.58 billion in 2025, up 25.08% year-over-year, with net profit attributable to shareholders of ¥820.64 million, up 21.91% year-over-year.

• Maintained strong growth in both domestic and international markets, with domestic revenue up 26.09% and international revenue up 20.25% year-over-year.

• Continued product innovation and market expansion, especially in electrophysiology (PFA) and vascular intervention segments.

• Board approved a cash dividend of ¥10 per 10 shares and significant share repurchase, totaling 29.13% of net profit.

Financial highlights

• Revenue: ¥2,583,927,321.09 (+25.08% YoY); Net profit attributable to shareholders: ¥820,636,582.43 (+21.91% YoY).

• Operating cash flow: ¥967,759,658.78 (+30.18% YoY).

• Gross margin: 73.18% (+0.47ppt YoY); R&D investment: ¥364.80 million, 14.12% of revenue.

• Basic EPS: ¥5.82 (+21.25% YoY); Weighted average ROE: 28.77%.

• Total assets: ¥3,651,856,647.08 (+22.52% YoY); Net assets: ¥3,088,667,057.76 (+22.74% YoY).

Outlook and guidance

• Plans to accelerate R&D and product line expansion, focusing on clinical needs and global market penetration.

• Will leverage digitalization, AI, and supply chain optimization to enhance operational efficiency.

• Expects continued growth in electrophysiology and vascular intervention, driven by domestic substitution and international expansion.