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	Nov '25 Nov 30, 2025	Feb '25 Feb 28, 2025	Feb '24 Feb 29, 2024	Feb '23 Feb 28, 2023	Feb '22 Feb 28, 2022
Revenue	2,573	2,145	1,411	617.4	344.47
Revenue Growth (YoY)	65.10%	51.99%	128.54%	79.23%	-
Cost of Revenue	538.05	462.05	275.71	70.31	38.94
Gross Profit	2,035	1,683	1,135	547.09	305.53
Selling, General & Admin	1,294	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	1,551	1,088	627.14	482.77	290.69
Operating Income	483.99	594.99	508.16	64.32	14.84
Interest Expense	-1.39	-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	484.44	595.44	495.68	63.4	14.55
Asset Writedown	-	-	-	-3.61	-
Pretax Income	484.44	595.44	495.68	59.79	14.55
Income Tax Expense	133.37	170.37	165.52	9.86	3.36
Net Income	351.07	425.07	330.16	49.93	11.19
Net Income to Common	351.07	425.07	330.16	49.93	11.19
Net Income Growth	75.80%	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)	-1.36%	1.99%	2.00%	-	-
EPS (Basic)	34.55	42.04	33.33	5.04	1.13
EPS (Diluted)	34.31	41.27	32.69	5.04	1.13
EPS Growth	78.26%	26.25%	548.17%	346.08%	-
Free Cash Flow	-	-238.74	417.85	-87.99	-8.49
Free Cash Flow Per Share	-	-23.18	41.38	-8.89	-0.86
Gross Margin	79.09%	78.45%	80.46%	88.61%	88.70%
Operating Margin	18.81%	27.74%	36.01%	10.42%	4.31%
Profit Margin	13.65%	19.82%	23.40%	8.09%	3.25%
Free Cash Flow Margin	-	-11.13%	29.61%	-14.25%	-2.46%
EBITDA	531.72	630.38	527.09	80.28	19.76
EBITDA Margin	20.67%	29.39%	37.35%	13.00%	5.74%
D&A For EBITDA	47.73	35.39	18.93	15.96	4.93
EBIT	483.99	594.99	508.16	64.32	14.84
EBIT Margin	18.81%	27.74%	36.01%	10.42%	4.31%
Effective Tax Rate	27.53%	28.61%	33.39%	16.49%	23.09%

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