Rebase (5138) Q1 2025 earnings summary

Executive summary

• Achieved significant growth in Q1 FY2025, with revenue up 30% year-over-year and operating profit up 53% year-over-year, driven by effective growth strategies and increased demand for rental spaces.

• Net profit for Q1 FY2025 was ¥61.7 million, up 54.3% year-over-year.

• The business environment saw continued economic recovery in Japan, with increased demand for space sharing services and the addition of Libertyship as an affiliate in May 2024.

• Key operational metrics such as user count, gross transaction value, and listed spaces all saw double-digit year-over-year increases, reflecting robust platform expansion.

Financial highlights

• Revenue for Q1 FY2025 reached ¥412 million, a 30% increase compared to the same quarter last year.

• Operating profit was ¥93.7 million, up 53.1% year-over-year, with an operating margin of 23% (up from 19%).

• Net income for the quarter was ¥61.7 million, a 54.3% increase year-over-year.

• SG&A expenses rose 25% year-over-year, mainly due to higher advertising, personnel, and transaction fees.

• Total assets at the end of Q1 FY2025 were ¥1,474.6 million, up ¥8.3 million from the previous fiscal year-end.

Outlook and guidance

• Q1 results represent 23–25% progress toward full-year revenue and profit targets, indicating a strong start.

• Full-year FY2025 guidance remains unchanged: revenue forecast at ¥1,806 million (+21.2% YoY), operating profit at ¥380 million (+13.1% YoY), and net profit at ¥255 million (+11.5% YoY).

• No changes to previously announced dividend or earnings forecasts.

• Continued focus on maximizing gross transaction value, user retention, and expanding space categories.