POPER (5134) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 FY2026 increased 1.3% year-over-year to ¥349.1 million, driven by steady growth in paid student IDs and new customer acquisition, especially for core SaaS products.

• Profit declined year-over-year due to planned investments in system security, infrastructure, and development efficiency, but results were within expectations.

• Strategic shift from labor-intensive flow revenue to scalable stock revenue, prioritizing SaaS product growth and recurring income.

• Customer base expanded, especially in small/mid-sized cram schools and extracurricular markets.

• Key SaaS metrics showed strong momentum: paid contract companies rose 15.3% to 1,996, and ARR increased 8.5% to ¥1,243 million.

Financial highlights

• 1Q revenue: ¥349.1 million (+1.3% YoY); gross profit: ¥258.9 million (−1.6% YoY); gross margin: 74.1% (−2.2pt YoY).

• Operating profit: ¥36.9 million (−42.0% YoY); operating margin: 10.6% (−7.8pt YoY).

• Net profit: ¥30.7 million (−40.2% YoY).

• SG&A expenses rose 11.3% YoY, reflecting investment in personnel and marketing.

• ARPU for the quarter was ¥51,897, down from ¥55,160 in the prior year.

Outlook and guidance

• Full-year revenue forecast remains unchanged at ¥1,425 million, with net profit expected at ¥55 million.

• Continued investment in system infrastructure and talent acquisition expected in subsequent quarters.

• No change to previously announced guidance as of the report date.