Liberaware (218A) Q4 2026 earnings summary

Executive summary

• Revenue/net sales increased 13–13.4% year-over-year to ¥1,595 million, driven by inspection solutions and digital twin services.

• Operating/ordinary loss widened to ¥2,397 million, with net loss at ¥811–812 million, due to increased R&D and business infrastructure investment.

• Expanded into new growth areas such as security, overseas business, and dual-use unmanned aircraft platforms.

• Responded to disaster events, notably the 2026 Kumamoto Earthquake, demonstrating operational capability.

• Prioritized long-term growth over short-term profit, accelerating upfront investment.

Financial highlights

• Net sales/revenue: ¥1,595 million (+13–13.4% YoY); gross profit: ¥676 million (flat YoY).

• Gross profit margin declined to 42% from 47% due to low-margin projects and missed drone sales targets.

• Comprehensive income swung to a loss of ¥809 million from a gain of ¥39 million YoY.

• Cash and cash equivalents at period-end increased 10.7% YoY to ¥832 million.

• Net assets rose to ¥1,292 million, up ¥359 million YoY, mainly due to new share issuance.

Outlook and guidance

• FY27/7 net sales/revenue forecast: ¥2,300 million (+44–44.2% YoY); gross profit: ¥1,150 million (+70%).

• Gross profit margin expected to rise to 50% (+8 points), driven by higher unit prices and improved service mix.

• Continued upfront investment in R&D and business infrastructure, with operating/ordinary loss expected to expand to ¥1,106–2,898 million.

• Guidance includes ¥1,992 million in R&D expenses and ¥1,785 million in expected SBIR-related subsidy income.

• Drone sales planned at 85 sets (+32 YoY), with revenue excluding drone sales already at 40% of target.