eBASE (3835) Q2 2027 earnings summary

Executive summary

• 1H FY2027 net sales rose 8.9% YoY to ¥2,655M; ordinary profit fell 5.9% to ¥534M, but rose 2.1% to ¥579M excluding one-time KSP-SP acquisition costs.

• FY2027 sales guidance increased to ¥5,700M, while ordinary profit and parent-attributable profit forecasts were lowered to ¥1,400M and ¥935M amid slower recovery in new and account-expansion sales.

Financial highlights

• 1H gross profit was ¥1,253M versus ¥1,194M; parent-attributable profit was ¥346M, down 10.5% YoY, and comprehensive income was ¥328M versus ¥397M.

• 1H operating profit was ¥506M, down 8.2% YoY; ordinary profit was ¥534M, down 5.9%.

• ¥45.7M of one-time KSP-SP M&A costs brought adjusted 1H ordinary profit to ¥579M, up 2.1% YoY.

Outlook and guidance

• Revised FY2027 guidance: net sales ¥5,700M (+8.4% YoY; +5.6% vs. prior forecast), operating profit ¥1,340M, ordinary profit ¥1,400M, and parent-attributable profit ¥935M.

• Ordinary profit and net income forecasts were reduced 12.5% and 12.6% versus prior guidance; full-year forecasts are down 4.6% and 8.9% YoY, respectively.

• 1H progress against revised FY guidance: sales 46.6%, ordinary profit 38.2%, and net income 37.0%.

• Large-scale customization projects from FY2026 are expected to be resolved by March 2027; recurrence-prevention measures are in place.