VRAIN Solution (135A) Q4 2025 earnings summary

Executive summary

• Achieved record-high full-year revenue of ¥2,144 million, up 52.0% year-over-year, and operating profit of ¥594 million, up 17.1% year-over-year; net profit of ¥425 million, up 28.7% year-over-year.

• Expanded customer base to 233 companies, driven by increased adoption of AI inspection systems and DX consulting in manufacturing.

• Opened Osaka and Nagoya sales offices to expand the sales base and strengthened recruitment for future growth.

• Prioritized building a talent foundation, resulting in increased personnel and related costs.

• Strengthened sales and recruitment to support future growth, with a focus on automation and digital transformation solutions.

Financial highlights

• Revenue: ¥2,144 million (+52.0% YoY); Operating profit: ¥594 million (+17.1% YoY); Net profit: ¥425 million (+28.7% YoY).

• Gross profit: ¥1,682 million (+48.2% YoY); Gross margin: 78.5% (down 2.0 pts YoY).

• Operating margin: 27.7% (down from 36.0% YoY) due to increased investment in personnel.

• Cash and equivalents at year-end: ¥488 million, down from ¥962 million due to increased investment and working capital.

• Total assets: ¥1,873 million (+29.2% YoY); Net assets: ¥1,422 million (+42.6% YoY); Equity ratio: 75.9%.

Outlook and guidance

• FY2026 revenue forecast: ¥3,215 million (+50.0% YoY); operating profit: ¥890–940 million (+49.6–58.0% YoY); net profit: ¥590–630 million (+38.8–48.2% YoY).

• Plans to open new sales offices in Sapporo, Sendai, Fukuoka, and Hiroshima; considering factory construction.

• Temporary cost of ¥76 million expected for HQ relocation.

• Mid-term policy: revenue CAGR +50%, operating margin 30–40%.

• Growth driven by expansion in both AI systems and DX consulting, with robust repeat and new customer demand.