Bridge Consulting Group (9225) Q1 2025 earnings summary

Executive summary

• Achieved over 20% year-over-year growth in IPO support, with a cumulative 106 supported IPOs and a 20.9% market share in 2024.

• Launched Bridge Executive Search and restructured into a group management system to focus on specialized business areas.

• Introduced "会計士プレミアム" (Accountant Premium) service, enhancing matching for certified accountants and maximizing partner utilization.

• Expanded professional talent database to over 5,100 registrants and revised segment structure to focus on CPA and HR businesses.

• Formed strategic alliances with G-FAS and SUNDRED to strengthen IPO/M&A support and broaden client solutions.

Financial highlights

• Q1 FY2025 revenue: ¥553.6M, up 20.5% year-over-year; operating income: ¥62.1M, up 69.4% year-over-year; net income: ¥42.3M, up 70.7% year-over-year.

• Gross profit margin improved to 53.7% in Q1 FY2025; operating margin rose to 11.2%; net margin at 7.7%.

• FY2025 full-year guidance: revenue ¥2,430M (+20.4%), gross profit ¥1,314M (+20.7%), net income ¥105M (-38.2% due to increased investments), EPS ¥51.40.

• No dividend declared for Q1; full-year dividend forecast remains at ¥0.

Outlook and guidance

• No revision to full-year guidance; expects continued investment in talent and platform development.

• Plans to strengthen recruitment and expand "会計士.job" and "会計士プレミアム" services.

• Aims for 2030 targets: ¥10B revenue, 2,000 clients, 10,000 accountant registrations.