POPER (5134) Q1 2025 earnings summary

Executive summary

• Achieved 48.8% year-over-year revenue growth to ¥344 million and a 416.3% increase in operating profit to ¥63 million in 1Q, driven by early recognition of large client custom development sales for major cram schools.

• Net profit rose 600.6% year-over-year to ¥51 million, reflecting strong operational leverage and cost control.

• Customer base expanded, with paid contracts up 28.3% year-over-year to 1,731 and churn rate maintained at a low 0.4%.

• New services like ComiruPay and ComiruERP launched, with ComiruPay exceeding 70 company sign-ups within 10 days and strong initial uptake across education segments.

Financial highlights

• Gross profit margin improved to 76.3% (up from 74.2% YoY), aided by automation and efficiency gains.

• SG&A expenses increased 25% YoY, but SG&A ratio improved to 57.8% (down from 68.9% YoY) due to higher sales.

• ARPU increased 7.1% YoY to ¥55,160; ARR grew 37.4% to ¥1.145 billion.

Outlook and guidance

• 1Q progress ahead of plan: revenue at 26.1% and operating profit at 63.6% of full-year targets; full-year targets remain unchanged.

• Will closely monitor market and adjust investment in development and marketing as needed.