CYND (4256) Q2 2025 earnings summary

Executive summary

• Q2 FY2025 revenue was ¥547 million, up 12.9% year-over-year, with ARR at ¥2.07 billion, a 16.5% increase year-over-year.

• Revenue for the six months ended September 30, 2024, was ¥1,080 million, up 15.5% year-over-year.

• EBITDA for Q2 FY2025 was ¥155 million, up 37.3% year-over-year, and cumulative EBITDA for H1 FY2025 was ¥298 million, up 40.2%.

• Net income for Q2 FY2025 was ¥29 million, and net income attributable to shareholders for H1 was ¥55 million, reversing a prior year loss.

• Contracted store count grew to 19,096, up 16.1% year-over-year, with continued market share expansion in beauty salon solutions.

Financial highlights

• Subscription revenue grew 16.9% year-over-year, supporting overall revenue growth.

• Gross profit for Q2 FY2025 was ¥430 million, up 19.8% year-over-year, with gross margin at 78.7%.

• Operating income for Q2 FY2025 was ¥73 million, up 120.4% year-over-year; H1 operating income was ¥136 million, up 155.4%.

• Ordinary income for H1 was ¥131 million, a 167.8% increase year-over-year.

• Cash and deposits at the end of Q2 FY2025 were ¥2.13 billion, up ¥97 million from the previous year-end.

Outlook and guidance

• FY2025 full-year revenue is forecast at ¥2.24–2.244 billion, up 15.0% year-over-year.

• Full-year EBITDA is projected at ¥540 million, up 12.5% year-over-year.

• Full-year operating income is projected at ¥212 million, up 38.0% year-over-year.

• Full-year net income is expected to be ¥40 million, with a slight increase due to one-time HQ relocation costs in Q3.

• Targeting 20,000 contracted stores by year-end.