Cookpad (2193) Q3 2026 earnings summary

Executive summary

• 3Q revenue was ¥1,200m, down 8.9% YoY and 3.5% QoQ, mainly due to lower Premium Services membership.

• 3Q operating profit was ¥135m, the second consecutive profitable quarter; 9M operating income was ¥138m.

Financial highlights

• 9M revenue fell 8.2% YoY to ¥3,710m; SG&A declined 6.2% to ¥3,549m, including ¥185m of one-off overseas workforce-reduction costs, mainly recorded in Q1.

• 9M operating income declined 31.2% to ¥138m as lower revenue more than offset reduced SG&A; lower finance expense helped lift profit before tax 5.6% to ¥522m.

• 9M profit attributable to shareholders was ¥519m, down 3.7% YoY; higher income tax expense offset the benefit of lower FX losses.

• 3Q SG&A was ¥1,062m, down 15.8% YoY and 2.4% QoQ; QoQ system usage fees rose ¥21m partly due to AI investment, while personnel expenses fell ¥22m and sales fees fell ¥6m.

• 9M comprehensive income was ¥477m versus ¥594m, reflecting a ¥42m other comprehensive loss.

Outlook and guidance

• No FY2026 earnings forecast was issued because investment timing and scale will be set flexibly with business conditions, making a reasonable estimate difficult.

• FY2026 forecast annual dividend remains ¥0.00 per share; continued product development investment is a priority.