Ateam Holdings (3662) Q4 2025 earnings summary

Executive summary

• FY2025 revenue was ¥23,917m, flat YoY; Adjusted EBITDA rose 132.2% to ¥1,719m, supported by improved profitability and operating portfolio and management changes.

• Ordinary income was ¥1,585m, up 160.3% YoY; net income was ¥1,036m, up 8.7% YoY.

• All Prime Market listing-maintenance criteria were met as of July 31, 2025; free-float market capitalization was ¥13.9bn.

• Profit included ¥610m in crypto-asset valuation gains and a ¥304m gain on the Life. business sale; crypto promotions, shareholder benefits and M&A amortization also raised expenses.

Financial highlights

• FY2025 operating income was ¥845m, up 50.3% YoY; EBITDA was ¥1,273m, up 79.0%, and Adjusted EBITDA was ¥1,719m, up 132.2% and 114.6% of forecast.

• FY2025 revenue was 95.7% of forecast; adjusted EBITDA, ordinary income and net income met or exceeded revised forecasts.

• Q4 revenue was ¥5,948m (103.7% YoY; 92.5% QoQ); Adjusted EBITDA was ¥306m (63.4% YoY; 43.6% QoQ).

• Q4 operating loss was ¥79m; ordinary income was ¥318m and net income ¥8m.

• Operating cash flow was ¥1,624m versus ¥808m; year-end cash and cash equivalents were ¥6,301m, down ¥1,749m YoY.

Outlook and guidance

• FY2026 forecast: revenue ¥24,500m, Adjusted EBITDA ¥1,500m, EBITDA ¥1,300m, operating income ¥900m, ordinary income ¥900m and net income ¥600m.

• FY2026 is a foundation-building year; forecasts reflect the end of an entertainment collaboration contract and expenses from a new share-based compensation plan.

• M&A and upgrades to marketing and business functionality are intended to improve profit; FY2027 onward growth remains a focus, with a medium-term Adjusted EBITDA target of ¥4bn.

• Strategy aims to become a Business Boost Company by combining outsourcing, consulting, digital customer-attraction tools and service management.