Piotech (688072) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 reached ¥2.27 billion, up 124.15% year-over-year; revenue for the first nine months was ¥4.22 billion, up 85.27% year-over-year.

• Net profit attributable to shareholders in Q3 was ¥462 million, up 225.07% year-over-year; for the first nine months, it was ¥557 million, up 105.14% year-over-year.

• Excluding non-recurring items, Q3 net profit was ¥420 million, up 822.50% year-over-year; for the first nine months, ¥458 million, up 599.67% year-over-year.

• Operating cash flow for Q3 was ¥1.27 billion, a significant improvement from -¥99 million in the same period last year; for the first nine months, ¥2.83 billion, up ¥3.83 billion year-over-year.

Financial highlights

• Gross margin and profitability improved due to scale effects and cost control.

• Basic EPS for Q3 was ¥1.66, up 225.49% year-over-year; for the first nine months, ¥2.00, up 104.08%.

• Weighted average ROE for Q3 increased by 4.88 percentage points year-over-year; for the first nine months, up 3.80 percentage points.

• R&D investment in Q3 was ¥190 million, up 14.11% year-over-year; for the first nine months, ¥539 million, up 12.14%.

• R&D as a percentage of revenue decreased due to rapid revenue growth.

Outlook and guidance

• Advanced process equipment successfully entered mass production, supporting continued revenue growth.

• Management expects ongoing expansion in product applications and further improvement in core competitiveness.