Byhealth (300146) Q3 2024 earnings summary

Executive summary

• Operating income for January–September 2024 was ¥5.73 billion, down 26.33% year-over-year, with net profit attributable to shareholders at ¥869 million, down 54.31% year-over-year.

• Performance was pressured by delayed product upgrades, operational adjustments, and intensified industry competition.

• Main brands and both online and offline channels saw significant revenue declines compared to the same period last year.

Financial highlights

• Q3 operating income: ¥1.12 billion, down 48.76% from the previous quarter; net profit: -¥22.42 million, down 106.30% sequentially.

• Basic and diluted EPS for Q3: -¥0.01, down 104.76% sequentially; YTD EPS: ¥0.51, down 54.46% year-over-year.

• Net cash flow from operating activities for the period: ¥341 million, down 74.66% year-over-year.

• Total assets at period end: ¥13.55 billion, down 10.24% from year-end 2023.

• Owner's equity: ¥11.33 billion, down 6.92% from year-end 2023.

Outlook and guidance

• 2024 marks the first year of a new three-year plan focused on technology, brand strength, and professional product innovation.

• The company is prioritizing operational quality, core brands, and channels, with ongoing adjustments to strategy and resource allocation.