Optorun (6235) Q3 2025 earnings summary

Executive summary

• Third-quarter orders rose 18% sequentially and 68% year-over-year to ¥10.5 billion, surpassing forecasts by ¥3.2 billion, with strong Q4 momentum, especially in AI smartphones and data center-related products.

• Q3 revenue increased 16% year-over-year, but operating profit fell 27%, with a margin of 17.5% (down 10.4 points YoY); gross margin improved to 38.5% from Q2's 32.7% due to high-margin new equipment.

• Net sales for the nine months ended September 30, 2025, decreased by 5.9% year-over-year to ¥23,710 million.

• Operating profit dropped 55.1% year-over-year to ¥2,835 million, and ordinary profit fell 62.9% to ¥2,587 million.

• Full-year revenue guidance was raised to a 30% YoY increase, reflecting robust order intake, but profit guidance remains conservative due to increased development spending.

Financial highlights

• Q3 FY2025 revenue: ¥9.86 billion (+15.8% YoY); operating profit: ¥1.73 billion (-27.3% YoY); net income: ¥959 million (-57.7% YoY).

• Gross profit margin in Q3: 38.5% (up 5.7 points QoQ); operating margin: 17.5% (down 10.4 points YoY).

• Full-year FY2025 guidance: revenue ¥33 billion (+1.8% YoY), operating profit ¥3.8 billion (-42.2% YoY), net income ¥3.25 billion (-48.8% YoY), EPS ¥81.5.

• Orders backlog at Q3: ¥27.2 billion (+25.6% YoY).

• Basic earnings per share for the nine months was ¥50.92, compared to ¥123.84 in the previous year.

Outlook and guidance

• Full-year revenue growth forecast raised to 30% YoY, driven by strong Q4 orders in AI smartphones and data centers.

• Operating profit expected to decrease 42.2% year-over-year to ¥3,800 million.

• Ordinary profit projected to fall 51.2% to ¥4,000 million, and profit attributable to owners of parent to drop 48.8% to ¥3,250 million.

• Full-year basic earnings per share forecasted at ¥81.53.

• Mid-term targets (FY2027): revenue ¥50 billion, operating profit margin 21.6%, ROE 12%, dividend payout ratio 30%+.