Synspective (290A) Q1 2025 earnings summary

Executive summary

• Total revenue for Q1 2025 was ¥1,156 million, driven by government contracts and subsidy income.

• Net sales reached ¥1,138 million, with an operating loss of ¥907 million and net loss attributable to owners of parent at ¥1,188 million.

• Four Strix satellites were operational at quarter-end, with future launches secured via SpaceX and a growing order backlog.

• A new U.S. subsidiary was established to expand presence in North and Latin America.

Financial highlights

• Gross profit for Q1 2025 was ¥66 million, with cost of sales at ¥1,072 million and SG&A expenses at ¥973 million.

• Ordinary loss totaled ¥1,202 million; comprehensive loss was ¥1,188 million.

• Cash and deposits at quarter-end were ¥13,299 million.

• Total assets increased to ¥29,236 million, and net assets rose to ¥20,291 million.

Outlook and guidance

• Full-year 2025 revenue forecast is ¥6,113 million, with net sales of ¥2,321 million and a projected net loss of ¥1,482 million.

• No change to previously announced full-year guidance.

• No dividends are forecast for FY2025.