Cookpad (2193) Q4 2024 earnings summary

Executive summary

• Sales revenue declined 22.8% year-over-year in FY2024 to ¥5,876 million, mainly due to a drop in Premium Services membership and discontinued operations.

• Returned to profitability in FY2024 with net profit of ¥1,332 million, reversing a ¥2,229 million loss in FY2023.

• Operating income turned positive, reaching ¥674 million, supported by significant cost reductions and restructuring.

• Workforce reduced by 20.4% year-over-year, reflecting ongoing cost optimization.

Financial highlights

• Full-year sales revenue fell from ¥7,607 million to ¥5,876 million year-over-year.

• SG&A expenses dropped by 49% year-over-year to ¥5,156 million, driven by business streamlining and personnel reductions.

• Operating income improved from a loss of ¥2,800 million to a profit of ¥674 million year-over-year.

• EPS improved to ¥15.58 from a loss of ¥23.21.

• Cash and cash equivalents at year-end were ¥12,084 million, up ¥60 million from the previous year.

Outlook and guidance

• No earnings forecast for FY2025 due to uncertainty and difficulty in making reasonable estimates.

• Continued investment in product and service development, user base growth, and branding.