JMDC (4483) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 FY2024 rose 26% year-over-year to ¥8,422 million, driven by Healthcare-Big Data and Tele-medicine segments.

• EBITDA increased 2% year-over-year to ¥1,718 million, with margin at 20%.

• Operating profit declined 57% year-over-year due to prior-year one-time gains, but normalized growth was 20%.

• Profit attributable to owners dropped 64% year-over-year, but normalized growth was 23%.

• Management views underlying business as healthy, with special factors in prior year distorting profit comparisons.

Financial highlights

• Gross profit for the quarter was ¥3,720 million, up from ¥2,999 million year-over-year.

• Basic earnings per share fell to ¥11.14 from ¥32.42 year-over-year.

• Cash and cash equivalents increased by ¥3,401 million from March 31, 2024, reaching ¥17,875 million.

• Total assets stood at ¥121,369 million, with total equity at ¥70,397 million as of June 30, 2024.

• Pep Up-related sales grew 50%, with 6.89 million Pep Up IDs.

Outlook and guidance

• Full-year revenue forecast for FY ending March 31, 2025 is ¥43,000 million (+33% YoY), operating profit at ¥9,300 million (+33%).

• H1 FY2024 revenue expected at ¥18,700 million (+36% YoY), EBITDA at ¥4,000 million (+21% YoY).

• Q2 FY2024 revenue forecasted at ¥10,277 million (+46% YoY), operating profit at ¥1,710 million (+62% YoY).

• Healthcare-Big Data segment projected to drive H1 growth, with revenue up 53% and EBITDA up 32% YoY.

• Six-month forecast ending September 30, 2024: operating profit ¥2,800 million (-22% YoY).