TIMEE (215A) Q2 2025 earnings summary

Executive summary

• Net sales for the first half reached ¥16.46 billion, up 32.2% year-over-year, with operating profit at ¥3.26 billion, up 89.9%, and net profit at ¥2.56 billion, up 165.8%, driven by strong logistics and retail growth despite headwinds in food.

• Second quarter net sales were ¥7.82–7.81 billion, up 28% year-over-year, with operating profit at ¥1.85 billion, a 60.8% increase and record-high OP margin of 23.7%.

• Platform registered over 11.25 million workers and 369,000 client accounts, with transaction volume up 34.8% to ¥56.57 billion.

• Fill rate reached a record 87.9% in Q2, with active client accounts expanding 35.3% year-over-year, especially in logistics and retail.

• Profit margin improved to 15.6% (+7.8pt YoY), reflecting disciplined investment and cost management.

Financial highlights

• Gross profit increased to ¥15.58 billion from ¥11.91 billion year-over-year, with gross profit margin at 94.7% for 2Q YTD.

• Transaction volume for 2Q YTD was ¥56.57 billion, with an average take rate of 29.0%.

• Basic EPS for the period was ¥26.08, up from ¥10.15 year-over-year (adjusted for stock split).

• Cash and cash equivalents increased by ¥2.46 billion to ¥14.70 billion.

• HR and outsourcing costs improved year-over-year, supporting margin expansion.

Outlook and guidance

• Third quarter net sales are forecasted at ¥8.40–8.55 billion (up 27.8–30% YoY), with operating profit expected at ¥1.73–1.77 billion (up 61.1–64.8%), and OP margin between 20.6–20.7%.

• Full-year net sales forecasted at ¥34.39–35.70 billion, up 28.0–32.8% YoY, with operating profit at ¥6.00–6.71 billion and net profit at ¥4.38–4.93 billion.

• Sequential growth in active client accounts and transaction volume is expected in Q3, with further acceleration anticipated in Q4.

• Basic EPS projected at ¥45.12–50.78 for the fiscal year ending October 31, 2025.

• Full-year guidance is on track, with potential upside in the fourth quarter.