ispace (9348) Q2 24/25 earnings summary

Executive summary

• Net sales for the first two quarters ended September 30, 2024, were ¥1,342 million, up 0.9% year-over-year, but operating loss widened to ¥3,734 million and net loss to ¥6,391 million.

• The company continues to focus on lunar surface development, with Mission 2 scheduled for launch in early 2025 and ongoing U.S. operations for Mission 3.

• The business environment is supported by increased government and international investment in space, including Japan's new Space Strategy Fund.

Financial highlights

• Operating loss increased to ¥3,734 million from ¥2,041 million year-over-year; net loss attributable to owners was ¥6,391 million versus ¥1,537 million last year.

• Gross profit for the period was ¥204 million, with a gross margin of 15.2%.

• Total assets rose to ¥28,546 million, while net assets fell to ¥5,383 million, reflecting continued losses.

• Cash and cash equivalents at period end were ¥16,013 million, down ¥820 million from March 2024.

Outlook and guidance

• Full-year forecast remains unchanged: net sales of ¥4,033 million (up 71.1%), operating loss of ¥13,165 million, and net loss of ¥12,466 million.

• No dividend is planned for the fiscal year.