Kurashiru Inc (299A) Q3 2026 earnings summary

Executive summary

• Revenue for the nine months ended December 31, 2025, rose 31.6% YoY to ¥12,475 million, with Non-GAAP operating profit up 21.4% YoY and net profit up 37.2%, driven by strong Sales Promotion and stable Media performance.

• Shopping business momentum was strong, supported by MAU growth, and Receipt Challenge users exceeded 2.9 million, up 250,000 sequentially, reflecting successful user acquisition and retail partner expansion.

• Media business saw 9.6% YoY revenue growth in Q3 and 6.0% YoY for the nine months, supported by strong PVs and content optimization.

• Shareholder benefit program introduced, offering a one-year premium app subscription with an estimated 5.2% yield, effective March 2026.

• Subsidiary established in November 2025 to acquire a VTuber business, enhancing event operations and merchandise sales; financial impact expected to be immaterial.

Financial highlights

• Q3 revenue: JPY 4.6Bn (+27.1% YoY, +14.9% QoQ); gross profit: JPY 2.1Bn (+20.7% YoY, +12.0% QoQ); Non-GAAP operating profit: JPY 1.0Bn (+20.6% YoY, +20.3% QoQ).

• Cumulative nine-month revenue: JPY 12.5Bn (+31.6% YoY); gross profit: JPY 5.9Bn (+22.4% YoY); Non-GAAP operating profit: JPY 2.7Bn (+21.4% YoY); net profit: JPY 1.8Bn (+37.2% YoY).

• Gross profit margin for the nine months was 46.9%, down from 50.5% YoY, mainly due to sales mix changes and lower margins in Others.

• Basic EPS was ¥42.62 and diluted EPS was ¥39.76, both post-stock split.

• Cash and cash equivalents at period end were ¥10.1Bn, up ¥1.2Bn from the previous year.

Outlook and guidance

• Full-year forecast: Net sales JPY 17.1Bn (+30.8% YoY), Non-GAAP OP JPY 3.5Bn (+25.3% YoY), profit JPY 2.3Bn (+35.7% YoY); Non-GAAP OP margin expected at 20.6%.

• Cumulative revenue and Non-GAAP OP margin through Q3 reached 72.8% and 75.3% of full-year targets, respectively.

• No revisions have been made to previously announced forecasts.