GMO Payment Gateway (3769) Q2 2025 earnings summary

Executive summary

• Online payment growth and recurring revenue drove strong Q2 and H1 FY2025 results, with revenue and operating profit exceeding plan and all business segments contributing to growth.

• Operating profit increased 21.0% year-over-year to ¥15,314 million, reflecting strong performance across core businesses.

• Profit attributable to owners of parent grew 18.3% year-over-year to ¥9,849 million.

• Consolidated subsidiary enpay Inc. (now GMO Enpay, Inc.) was added to the group in January 2025.

Financial highlights

• Consolidated H1 revenue rose 12.9% year-over-year to ¥40,757 million; operating profit up 21.0% to ¥15,314 million.

• Gross profit for H1 FY2025 was ¥27,540 million, up from ¥23,267 million in the prior year period.

• Q2 revenue and operating profit both surpassed internal forecasts, with progress rates of 48.9% and 50.7% toward full-year targets.

• EBITDA for Q2 reached ¥9,016 million, with a margin of 44.1%.

• Free cash flow for H1 was ¥21,105 million, driven by strong operating cash flow.

Outlook and guidance

• FY2025 revenue forecast is ¥83,377 million (+13.0% YoY), operating profit ¥30,225 million (+20.0% YoY), and profit attributable to owners of parent ¥18,511 million (−1.0% YoY, due to prior year one-off gains).

• Sufficient pipeline in place to achieve H2 targets, with large and mid-sized client growth and strategic initiatives progressing.

• The company expects limited impact from global economic uncertainties and US tariffs, citing diversification and focus on resilient sectors.

• Negligible impact expected from the consolidation of GMO Enpay, Inc.