POPER (5134) Q2 2025 earnings summary

Executive summary

• Revenue increased 46.7% year-over-year to ¥691 million, driven by SaaS expansion, customized development for major cram schools, and new service launches.

• Operating income surged 405.4% to ¥118–118.7 million, with net income up 965.6% to ¥136 million, reflecting improved cost efficiency and higher sales.

• Paid contract companies rose 26.9% year-over-year to 1,806, with ARPU at ¥50,858 and churn rate at 0.5%.

• New services like ComiruPay saw strong uptake, with 169 companies signed up by April and expansion into public education and extracurricular segments.

• Company continues to expand its customer base and product offerings, supporting school DX projects and local government initiatives.

Financial highlights

• Gross profit increased 49.7% year-over-year to ¥527 million, with gross margin improving by 1.5pt to 76.3%.

• Operating margin reached 17.2% in Q2, up from 5.0% a year earlier.

• SG&A expenses rose 24.3% to ¥408 million, but SG&A ratio improved to 59.1% from 69.8% due to revenue growth and cost optimization.

• Cash and equivalents rose by ¥72 million to ¥778 million at period end; total assets increased to ¥1,217 million, equity ratio at 71.1%.

• One-time M&A expenses of ¥18 million affected the prior year’s SG&A; no interim or year-end dividend declared.

Outlook and guidance

• Full-year revenue forecast raised to ¥1.35 billion (+26.1% YoY), with operating income guidance increased to ¥150 million (+105.2% YoY).

• Strategic investments in marketing, development, and infrastructure are being accelerated ahead of plan, with temporary cost increases anticipated.

• Company targets ¥10 billion market cap by 2030, focusing on value creation, EPS growth, and SaaS expansion.