Cookpad (2193) Q3 2024 earnings summary

Executive summary

• Focus remains on making everyday cooking enjoyable through technology and product development.

• Sales revenue for the nine months ended 30 September 2024 was ¥4,465 million, down 25.6% year-over-year, mainly due to a decline in premium memberships and discontinued operations.

• Operating income reached ¥552 million, reversing a loss of ¥3,085 million a year earlier, driven by significant reductions in SG&A expenses.

• Net profit attributable to shareholders was ¥890 million, compared to a loss of ¥2,725 million in the prior year period.

• Comprehensive income was ¥1,298 million, up from a loss of ¥1,849 million year-over-year.

Financial highlights

• Sales revenue for Q3 FY2024 fell 20.3% year-over-year to 1,446 million yen, with a 25.6% drop for the first nine months.

• SG&A expenses dropped 54.9% year-over-year, mainly due to a 64.7% reduction in personnel costs and company-wide streamlining.

• Operating income remained positive but declined sequentially due to increased costs from headquarters relocation and business investments.

• Basic earnings per share improved to ¥10.29 from a loss of ¥28.13 year-over-year.

• Cash and cash equivalents at quarter end were 11,579 million yen, down 5.4% year-over-year.

Outlook and guidance

• No earnings forecast disclosed due to ongoing investments and alignment with external environment developments.