CYND (4256) Q1 2026 earnings summary

Executive summary

• Net sales for FY26 1Q reached 599 million yen, up 12.6% year-over-year, with subscription sales growing 15.1% YoY and ARR up 14.7% YoY.

• Number of contracted stores increased 17.7% YoY to 21,355, while ARPU for BeautyMerit and Kanzashi remained stable.

• Customer churn rate stayed low at 0.64%, and EBITDA for the quarter was 136 million yen, down 4.8% YoY but up 1.7% sequentially.

• Operating profit for the quarter was 56 million yen, down 4.8% YoY, and net income was 25 million yen, nearly flat YoY.

• Operations are reported as a single segment: hairdressing solutions business.

Financial highlights

• Net sales: 599 million yen (+12.6% YoY, +2.0% QoQ); EBITDA: 136 million yen (-4.8% YoY, +1.7% QoQ); operating income: 56 million yen (-10.3% YoY, +6.1% QoQ).

• Gross profit margin was 77.2%, EBITDA margin 22.7%, and operating income margin 9.4%.

• Gross profit increased to 463 million yen from 415 million yen YoY.

• Net income for the quarter was 25 million yen, flat YoY but down 53.1% QoQ.

• Total assets as of June 30, 2025, were 4,895 million yen, with cash/deposits of 2,103 million yen and an equity-to-asset ratio of 68.2%.

Outlook and guidance

• FY26 forecast: net sales of 2,582 million yen (+15.2% YoY), EBITDA of 645 million yen (+13.2% YoY), operating profit of 315 million yen (+32.9% YoY), and net income of 164 million yen (+46.1% YoY).

• Targeting 23,000 contracted stores by fiscal year-end and continued sales enablement investments.

• Mid-term goal: consolidated net sales of 3.0 billion yen or more and 20–30% EBITDA margin by FY27.

• No revisions to previously announced earnings or dividend forecasts.