CYND (4256) Q4 2025 earnings summary

Executive summary

• Achieved full-year revenue of ¥22.41 billion, up 14.8% year-over-year, with strong growth in recurring revenue and customer base.

• EBITDA rose 18.9% to ¥570 million, exceeding forecasts, while net income surged 193.1% to ¥1.12 billion, driven by deferred tax asset recognition.

• Contracted stores increased 18.1% year-over-year to 20,699, reflecting successful sales and partnership expansion.

• Focus remained on expanding core cloud-based reservation systems and strengthening regional presence.

Financial highlights

• Revenue: ¥22.41 billion (+14.8% YoY); ARR: ¥22.1 billion (+15.2% YoY); EBITDA: ¥570 million (+18.9% YoY, 105.7% of plan); Operating income: ¥237 million (+46.6% YoY); Net income: ¥1.12 billion (+193.1% YoY).

• Gross profit margin improved to 77.8% (+2.8pt YoY); EBITDA margin at 25.5% (+0.9pt YoY); operating margin: 10.6%.

• Cash and deposits at year-end: ¥2.07 billion, up ¥65 million from the prior year.

• No dividends were paid or planned for the year.

Outlook and guidance

• FY2026 revenue forecast: ¥25.82 billion (+15.2% YoY); EBITDA: ¥645 million (+13.2% YoY); net income: ¥1.64 billion (+46.1% YoY).

• Targeting 23,000 contracted stores by FY2026 year-end.

• Mid-term goal: revenue over ¥3 billion and EBITDA margin of 20–30% by FY2027.

• Continued investment in sales and marketing to drive store acquisition and revenue growth.

• Guidance based on current information; actual results may vary due to market conditions.