Cookpad (2193) Q3 2025 earnings summary

Executive summary

• Q3 FY2025 and the nine months ended 30 September 2025 saw continued declines in sales revenue and Premium Services membership, with cost reductions partially offsetting revenue losses.

• Operating income remained positive but dropped sharply year-over-year and sequentially, reaching ¥201 million for the nine months.

• Profit attributable to shareholders surged to ¥501 million in Q3 FY2025 but decreased 39.5% year-over-year to ¥538 million for the nine months.

• The company continued investments in global cooking-related services and AI culinary coaching.

Financial highlights

• Sales revenue for Q3 FY2025 decreased by 9.5% year-over-year and 2.5% sequentially, totaling ¥4,040 million for the nine months.

• SG&A expenses declined by 2.9% year-over-year, with system usage fees down 6.0% quarter-on-quarter.

• Operating income fell 63.6% year-over-year and 44.5% sequentially, reaching ¥201 million for the nine months and ¥39 million in Q3.

• Cash and cash equivalents at quarter end dropped 45.8% sequentially and 52.1% year-over-year to about ¥5,545 million.

• Basic EPS for the period was ¥6.83, up 259.5% year-over-year in Q3 but down from ¥10.29 for the nine months.

Outlook and guidance

• No earnings forecast disclosed due to ongoing investments and difficulty in making reasonable estimates amid changing business conditions.