CYND (4256) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended December 31, 2024, increased 14.7% year-over-year to ¥1,653 million, driven by share expansion, new customer acquisition, and steady growth in contracted stores and recurring revenue streams.

• EBITDA for 3Q reached ¥436 million, a 27.1% increase year-over-year, with an EBITDA margin of 26.4%.

• Net income for 3Q was ¥58 million, a significant increase from ¥7 million in the prior year period, reflecting improved operational efficiency and lower extraordinary losses.

• Operating income rose 76.4% year-over-year to ¥184 million.

• The company completed a headquarters relocation in November 2024 to support business expansion and efficiency.

Financial highlights

• 3Q revenue grew 13.2% year-over-year to ¥572 million; subscription revenue rose 15.6% year-over-year.

• EBITDA for the period was ¥436 million, up 27.1% year-over-year.

• Gross profit margin improved to 77.6% in 3Q, up 1.3 points year-over-year, as sales growth outpaced cost increases.

• Extraordinary loss of ¥25 million was recorded due to headquarters relocation.

• EPS for the period was ¥10.07, compared to ¥1.29 in the prior year.

Outlook and guidance

• FY2025 full-year revenue forecast is ¥2,244 million (+15.0% YoY), with EBITDA projected at ¥540 million (+12.5% YoY).

• Full-year operating income expected to reach ¥223 million, up 37.9% year-over-year.

• Net income guidance remains at ¥40 million, reflecting anticipated growth investments and one-time costs.

• Mid-term target: consolidated revenue of ¥3 billion and EBITDA margin of 20–30% by FY2027.

• Dividend forecast remains at ¥0 per share.