DeNA Co. (2432) Q1 2026 earnings summary

Executive summary

• Q1 FY2025 revenue reached 41.7 billion yen, up 23% year-over-year, with IFRS operating profit up 620% to 13.8 billion yen and net profit attributable to owners up 267% to 11.2 billion yen.

• Game Business, especially Pokémon Trading Card Game Pocket, drove results, while Live Streaming and Sports also contributed positively.

• Cost of sales and SG&A expenses declined year-over-year, supporting margin expansion.

• AI-driven initiatives and Smart City projects are being accelerated for future growth.

Financial highlights

• Revenue for Q1 FY2025 was 41.7 billion yen (+23% YoY, -12% QoQ); IFRS operating profit was 13.8 billion yen (+620% YoY, +73% QoQ); non-GAAP operating profit was 12.5 billion yen (+498% YoY, +10% QoQ).

• Profit before tax was 15.9 billion yen (+254% YoY, +81% QoQ); net profit attributable to owners was 11.2 billion yen (+267% YoY, +33% QoQ); EPS was 100.54 yen (+267% YoY, +33% QoQ).

• Gross profit increased to 24.8 billion yen from 16.2 billion yen year-over-year.

• Total assets grew to 409.2 billion yen, and total equity attributable to owners reached 268.8 billion yen, with an equity ratio of 65.7%.

• Non-GAAP EBITDA for Q1 FY2025 was 14.3 billion yen.

Outlook and guidance

• FY2025 guidance is a range due to volatility in Game Business and ongoing investments; revenue is expected to decrease 11% year-over-year, with operating profit down 31% to 14% year-over-year.

• Full-year revenue forecast is 146–154 billion yen, with non-GAAP operating profit expected at 19.3–24.3 billion yen.

• Q2 FY2025 is expected to see a sequential decrease in revenue and profit; Game Business guidance reflects short-term volatility from Pokémon Trading Card Game Pocket.

• Live Streaming aims for profit growth, Sports to maintain steady operations, and Healthcare & Medical to pursue revenue and profit improvements.