ICARES Medicus Income Statement

Financials in millions TWD. Fiscal year is January - December.

Millions TWD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	1,087	859.79	605.45	511.85	393.92	362.67
Revenue Growth (YoY)	46.49%	42.01%	18.29%	29.94%	8.62%	-13.52%
Cost of Revenue	436.87	260.06	123.05	94.41	71.04	70.8
Gross Profit	650.46	599.73	482.4	417.44	322.89	291.87
Selling, General & Admin	349.05	277.97	186.31	157.23	127	116.32
Research & Development	156.63	192.7	177.45	133.08	104.87	98.25
Operating Expenses	506.49	476.48	373.84	292.73	235.03	213.36
Operating Income	143.97	123.25	108.56	124.71	87.85	78.52
Interest Expense	-24.05	-18.33	-7.17	-0.58	-0.83	-0.98
Interest & Investment Income	20.88	44.45	5.29	2.67	2.48	1.5
Earnings From Equity Investments	8.39	2.38	-1.35	-4.18	-2.17	-5.46
Currency Exchange Gain (Loss)	-18.59	8.64	0.93	15.72	-4.81	-6.43
Other Non Operating Income (Expenses)	-30.14	5.18	4.56	5.1	3.99	2.6
EBT Excluding Unusual Items	100.46	165.58	110.82	143.44	86.51	69.74
Gain (Loss) on Sale of Investments	-13.19	-1.17	2.47	-0.33	-13.32	-
Gain (Loss) on Sale of Assets	-	-	-	-	-	4.02
Pretax Income	87.27	164.4	113.29	143.11	73.19	73.76
Income Tax Expense	70.37	109.89	48.86	32.72	35.82	36.84
Earnings From Continuing Operations	16.9	54.51	64.43	110.39	37.37	36.93
Minority Interest in Earnings	46.48	48.61	33.3	18.52	21.23	14.98
Net Income	63.38	103.12	97.73	128.91	58.6	51.91
Net Income to Common	63.38	103.12	97.73	128.91	58.6	51.91
Net Income Growth	-4.09%	5.52%	-24.19%	119.97%	12.90%	-35.93%
Shares Outstanding (Basic)	47	47	42	41	41	41
Shares Outstanding (Diluted)	47	47	42	41	41	41
Shares Change (YoY)	0.45%	11.53%	2.91%	0.74%	0.38%	0.39%
EPS (Basic)	1.35	2.19	2.32	3.15	1.44	1.28
EPS (Diluted)	1.34	2.18	2.31	3.13	1.44	1.27
EPS Growth	-4.96%	-5.51%	-26.28%	117.82%	12.99%	-36.36%
Free Cash Flow	-112.53	-159.8	-96.74	97.47	33.18	62.26
Free Cash Flow Per Share	-2.39	-3.38	-2.28	2.37	0.81	1.53
Dividend Per Share	0.273	0.273	0.165	0.826	0.413	0.083
Dividend Growth	64.97%	64.97%	-80.00%	100.00%	400.24%	-80.01%
Gross Margin	59.82%	69.75%	79.68%	81.56%	81.97%	80.48%
Operating Margin	13.24%	14.34%	17.93%	24.37%	22.30%	21.65%
Profit Margin	5.83%	11.99%	16.14%	25.19%	14.88%	14.31%
Free Cash Flow Margin	-10.35%	-18.59%	-15.98%	19.04%	8.42%	17.17%
EBITDA	243.69	180.13	129.33	142.69	106.87	99.58
EBITDA Margin	22.41%	20.95%	21.36%	27.88%	27.13%	27.46%
D&A For EBITDA	99.72	56.87	20.77	17.97	19.02	21.07
EBIT	143.97	123.25	108.56	124.71	87.85	78.52
EBIT Margin	13.24%	14.34%	17.93%	24.37%	22.30%	21.65%
Effective Tax Rate	80.63%	66.84%	43.13%	22.86%	48.94%	49.94%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.