VRAIN Solution Income Statement

Financials in millions JPY. Fiscal year is March - February.

Millions JPY. Fiscal year is Mar - Feb.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Aug '25 Aug 31, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Revenue	2,384	2,145	1,411	617.4	344.47
Revenue Growth (YoY)	68.93%	51.99%	128.54%	79.23%	-
Cost of Revenue	474.05	462.05	275.71	70.31	38.94
Gross Profit	1,910	1,683	1,135	547.09	305.53
Selling, General & Admin	1,153	831.37	461.24	352.37	228.78
Research & Development	232.48	232.48	153.66	117.51	70.8
Other Operating Expenses	-	-	-	-	-11.48
Operating Expenses	1,410	1,088	627.14	482.77	290.69
Operating Income	499.99	594.99	508.16	64.32	14.84
Interest Expense	-0.39	-0.39	-0.97	-1.16	-0.32
Interest & Investment Income	0.26	0.26	-	-	-
Currency Exchange Gain (Loss)	0.1	0.1	0.01	-	-
Other Non Operating Income (Expenses)	1.48	0.48	-11.52	0.24	0.03
EBT Excluding Unusual Items	501.44	595.44	495.68	63.4	14.55
Asset Writedown	-	-	-	-3.61	-
Pretax Income	501.44	595.44	495.68	59.79	14.55
Income Tax Expense	141.37	170.37	165.52	9.86	3.36
Net Income	360.07	425.07	330.16	49.93	11.19
Net Income to Common	360.07	425.07	330.16	49.93	11.19
Net Income Growth	9.06%	28.75%	561.25%	346.08%	-
Shares Outstanding (Basic)	10	10	10	10	10
Shares Outstanding (Diluted)	10	10	10	10	10
Shares Change (YoY)	1.58%	1.99%	2.00%	-	-
EPS (Basic)	35.54	42.04	33.33	5.04	1.13
EPS (Diluted)	35.11	41.27	32.69	5.04	1.13
EPS Growth	7.41%	26.25%	548.17%	346.08%	-
Free Cash Flow	-523.74	-238.74	417.85	-87.99	-8.49
Free Cash Flow Per Share	-51.06	-23.18	41.38	-8.89	-0.86
Gross Margin	80.11%	78.45%	80.46%	88.61%	88.70%
Operating Margin	20.98%	27.74%	36.01%	10.42%	4.31%
Profit Margin	15.11%	19.82%	23.40%	8.09%	3.25%
Free Cash Flow Margin	-21.97%	-11.13%	29.61%	-14.25%	-2.46%
EBITDA	555.38	630.38	527.09	80.28	19.76
EBITDA Margin	23.30%	29.39%	37.35%	13.00%	5.74%
D&A For EBITDA	55.39	35.39	18.93	15.96	4.93
EBIT	499.99	594.99	508.16	64.32	14.84
EBIT Margin	20.98%	27.74%	36.01%	10.42%	4.31%
Effective Tax Rate	28.19%	28.61%	33.39%	16.49%	23.09%

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