Kurashiru Inc (299A) Q2 2026 earnings summary

Executive summary

• H1 net sales rose 34.3% YoY to ¥7,841m, led by Sales Promotion growth and increased user engagement.

• H1 Non-GAAP operating profit increased 21.9% to ¥1,639m; profit rose 38.5% to ¥1,091m.

• H1 results slightly exceeded initial expectations; the Kurashiru Retail Network launched in August, while Kurashiru Job is set to end after below-expectation matching.

Financial highlights

• Q2 revenue was ¥4.032bn, up 42.0% YoY and 5.9% QoQ; gross profit was ¥1.902bn, up 41.6%, and operating profit was ¥806m, up 84.0%.

• Q2 profit rose 122.7% YoY to ¥570m; Non-GAAP profit increased 107.5% to ¥607m.

• H1 operating profit was ¥1.562bn, up 23.3% YoY; ordinary profit was ¥1.566bn, up 26.3%.

• H1 gross profit was ¥3,724m, up from ¥3,018m; its ¥559m increase was partly offset by ¥191m of higher Non-GAAP SG&A, including planned marketing investment.

• H1 basic EPS was ¥26.28 and Non-GAAP basic EPS was ¥28.05; period-end cash and cash equivalents were ¥10.038bn.

Outlook and guidance

• FY2025 revenue guidance is ¥17.140bn, up 30.8% YoY; operating profit is forecast at ¥3.374bn, up 26.7%.

• FY2025 Non-GAAP operating profit guidance is ¥3.529bn, up 25.3%, with a 20.6% margin; H1 achieved 45.7% of revenue and 46.5% of Non-GAAP operating profit guidance.

• FY2025 profit is forecast at ¥2.295bn, up 35.7%; Non-GAAP profit at ¥2.442bn; no change was made to previously disclosed forecasts.

• Retail Network contributions to profit are expected to become more substantial from next fiscal year; initial integration into Yahoo! Japan and SmartNews apps was within expectations.