Cybozu (4776) Q3 2024 earnings summary

Executive summary

• Revenue for the nine months ended September 30, 2024, increased 14.6% year-over-year to ¥21,468 million, driven by strong growth in cloud services, with customer contracts surpassing 66,000 and user licenses exceeding 3.2 million.

• Operating income rose 10.7% year-over-year to ¥3,457 million, while net income attributable to shareholders increased 9.6% to ¥2,595 million.

• Cloud-related business sales grew 18.0% year-over-year to ¥19,310 million.

Financial highlights

• Gross profit for the period was ¥19,327 million, up from ¥16,988 million in the prior year.

• Operating margin was 16.1%, and net margin was 12.1% for the nine-month period.

• EPS for the period was ¥54.51, compared to ¥49.78 in the same period last year.

• Total assets increased to ¥21,354 million, and equity rose to ¥13,623 million, with an equity ratio of 63.8%.

• Comprehensive income for the period was ¥3,033 million, up from ¥2,628 million year-over-year.

Outlook and guidance

• Full-year revenue is forecast at ¥29,545 million, up 16.2% year-over-year, with operating income projected at ¥4,117 million and net income at ¥2,995 million.

• No changes have been made to the previously announced full-year guidance.

• Year-end dividend forecast is ¥15.00 per share, unchanged from prior guidance.