Liberaware (218A) Q1 2026 earnings summary

Executive summary

• Achieved record-high Q1 revenue of 294 million yen, up 30% year-over-year, despite Q1 being a seasonally slow period.

• Quarterly consolidated financial statements prepared for the first time; no YoY comparison available for consolidated basis.

• Focus on drone and robot-based solutions for industrial infrastructure inspection, especially in confined, hazardous environments.

• Significant growth in drone sales (+113% YoY), driven by the launch of a domestic distributor system.

• Overseas expansion initiated with sales in Korea and ongoing R&D for new products and autonomous drones.

Financial highlights

• Revenue: 294 million yen (+30% YoY); Gross profit: 134 million yen (+29% YoY); gross margin approximately 45.7%.

• Ordinary loss: 605 million yen (expanded from 184 million yen loss YoY), mainly due to SBIR R&D expenses.

• Net income: -605 million yen (vs. -185 million yen YoY); basic earnings per share: (32.06) yen.

• Drone sales: 18.5 sets in Q1, covering 25% of full-year target.

• Main revenue breakdown: Inspection Solution Drone Business 218 million yen, Digital Twin Platform 29 million yen, Solution Development Business 44 million yen.

Outlook and guidance

• FY2026/7 full-year revenue forecast: 2,220 million yen (+57.8% YoY); gross profit margin expected to rise to 50.6%.

• Q1 revenue progress rate at 13% of full-year forecast, slightly below prior year but expected to catch up in busier quarters.

• Full-year operating loss forecast: 177 million yen; net loss forecast: 178 million yen; EPS forecast: (9.44) yen.

• R&D expenses, especially for SBIR projects and next-generation IBIS, will continue to increase.

• Ordinary income (excluding SBIR timing differences) expected to be positive for the full year.