Cybozu (4776) Q2 2024 earnings summary

Executive summary

• Revenue for the first half of FY2024 rose 14.6% year-over-year to ¥14,087 million, driven by strong cloud service sales and increased customer adoption.

• Operating income increased 10.7% year-over-year to ¥2,247 million, with net income attributable to shareholders up 9.1% to ¥1,685 million.

• Cloud-related business sales reached ¥12,610 million, up 18.1% year-over-year, reflecting robust demand.

• Growth in personnel, advertising, and R&D expenses supported business expansion and global initiatives.

Financial highlights

• Gross profit for the first half was ¥12,757 million, with a gross margin of approximately 90.6%.

• Comprehensive income for the period was ¥1,908 million, down 5.3% year-over-year.

• EPS for the interim period was ¥35.40, compared to ¥32.48 in the prior year.

• Total assets increased to ¥20,773 million, up ¥1,524 million from the previous fiscal year-end.

• Net assets rose to ¥12,498 million, with an equity ratio of 60.1%.

Outlook and guidance

• Full-year revenue forecast remains at ¥29,545 million, a 16.2% increase year-over-year.

• Operating income is projected at ¥4,117 million (+21.3%), with net income forecast at ¥2,995 million (+20.3%).

• No changes to previously announced guidance as of June 20, 2024.