AMIYA (4258) Q2 2024 earnings summary

Executive summary

• Achieved record-high operating profit and increased revenue year-over-year in Q2 FY2024, with operating profit at an all-time high and net profit stable despite last year's one-time insurance gain.

• Revenue for the first half of FY2024 was ¥2,235 million, with operating profit at ¥259 million and net profit attributable to shareholders at ¥195 million.

• Transitioned main log management product to a full subscription model, boosting contract value and LTV by 5–10x, with ARR up 30% year-over-year.

• Demand for core log management products surged, especially from defense and automotive sectors, with large deals tripling year-over-year.

• Strong demand for cybersecurity, especially log management products, and increased consulting and monitoring services drove growth.

Financial highlights

• Q2 FY2024 revenue: ¥2,235 million, up 32% year-over-year; operating profit: ¥259 million, up 23%; net profit: ¥195 million, up 2%.

• Operating profit margin slightly decreased to 11.6% from 12.4% year-over-year.

• Q2 progress rates: revenue 50%, operating profit 62%, net profit 70% of full-year guidance.

• EPS for Q2 FY2024: ¥47.62, nearly flat year-over-year.

• Total assets increased to ¥4,927 million, up ¥1,150 million from the previous year-end.

Outlook and guidance

• FY2024 full-year revenue forecast: ¥4,500 million (+26.4% YoY); operating profit: ¥419 million (+15.4% YoY).

• Net profit forecast: ¥279 million, down 14.2% due to absence of prior year’s one-time insurance gain.

• Q2 results exceeded mid-term plan by 141%.

• No revision to previously announced guidance.