Ateam Holdings (3662) Q2 2025 earnings summary

Executive summary

• H1 FY2025 revenue fell 3.1% YoY to ¥11,540m; operating, ordinary and parent-attributable net income returned to profit.

• Results benefited from first-quarter improvement in Digital Marketing and Entertainment, a ¥545m crypto-asset valuation gain and a ¥212m gain on investment-security sales.

• Adjusted EBITDA was introduced as a core measure, adjusting for M&A costs and certain promotion and crypto-related items; ordinary income was cited as more comparable than operating income given crypto effects on both.

Financial highlights

• H1 revenue was ¥11,540m, gross profit ¥9,872m, operating income ¥92m versus a ¥185m loss, and ordinary income ¥775m versus a ¥133m loss.

• H1 parent-attributable net income was ¥559m versus a ¥193m loss; EBITDA was ¥260m versus negative ¥108m, and financial-results adjusted EBITDA was ¥253m.

• Q2 revenue was ¥5,862m, adjusted EBITDA ¥400m, ordinary income ¥543m and net income ¥430m.

• Cumulative adjusted EBITDA was ¥711m: EBITDA ¥260m, plus M&A expenses ¥25m, promotion allowance ¥432m and promotion expenses ¥52m, less points granted ¥60m.

• Comprehensive income was ¥253m versus a ¥156m loss; cash and cash equivalents increased to ¥8,580m from ¥8,050m at FY2024 year-end.

Outlook and guidance

• FY2025 guidance unchanged: revenue ¥25,000m (+4.5% YoY), EBITDA ¥1,250m (+75.7%), operating and ordinary income ¥1,000m each, and parent-attributable net income ¥560m (-41.3%).

• Strategy prioritizes business-support services, including web marketing consulting, advertising agencies, SaaS and customer-referral media; M&A is intended to build a “Business Boost Company.”

• Planned FY2025 dividend: ¥22 per share.