A.D.Works Group Income Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	67,531	49,910	41,342	27,856	24,961
Revenue Growth (YoY)	35.31%	20.72%	48.41%	11.60%	11.17%
Cost of Revenue	55,458	41,275	34,323	22,471	20,230
Gross Profit	12,073	8,635	7,019	5,385	4,731
Selling, General & Admin	7,086	5,360	4,532	3,965	3,747
Operating Expenses	7,087	5,426	4,584	4,015	3,804
Operating Income	4,986	3,209	2,435	1,370	927
Interest Expense	-731	-591	-515	-360	-263
Interest & Investment Income	26	30	51	12	7
Earnings From Equity Investments	-	-29	-	-	-
Currency Exchange Gain (Loss)	-	-	103	-	-
Other Non Operating Income (Expenses)	-132	-104	-96	-70	-22
EBT Excluding Unusual Items	4,149	2,515	1,978	952	649
Gain (Loss) on Sale of Investments	1,044	18	49	-	-
Gain (Loss) on Sale of Assets	1	-	-	-	-
Asset Writedown	-3	-1	-	-43	-
Other Unusual Items	-1	15	38	-	-
Pretax Income	5,190	2,547	2,065	909	649
Income Tax Expense	1,890	942	646	366	336
Earnings From Continuing Operations	3,300	1,605	1,419	543	313
Minority Interest in Earnings	15	5	-	-16	-1
Net Income	3,315	1,610	1,419	527	312
Net Income to Common	3,315	1,610	1,419	527	312
Net Income Growth	105.90%	13.46%	169.26%	68.91%	-11.36%
Shares Outstanding (Basic)	48	48	48	47	43
Shares Outstanding (Diluted)	49	49	48	47	43
Shares Change (YoY)	0.91%	1.32%	3.16%	7.32%	9.81%
EPS (Basic)	68.45	33.49	29.84	11.32	7.22
EPS (Diluted)	67.49	33.08	29.55	11.32	7.19
EPS Growth	104.02%	11.95%	161.13%	57.39%	-19.52%
Free Cash Flow	-7,187	1,332	-718	-11,468	-4,440
Free Cash Flow Per Share	-146.32	27.37	-14.95	-246.25	-102.32
Dividend Per Share	-	10.000	8.000	4.500	3.500
Dividend Growth	-	25.00%	77.78%	28.57%	-0.19%
Gross Margin	17.88%	17.30%	16.98%	19.33%	18.95%
Operating Margin	7.38%	6.43%	5.89%	4.92%	3.71%
Profit Margin	4.91%	3.23%	3.43%	1.89%	1.25%
Free Cash Flow Margin	-10.64%	2.67%	-1.74%	-41.17%	-17.79%
EBITDA	5,217	3,402	2,584	1,504	1,052
EBITDA Margin	7.72%	6.82%	6.25%	5.40%	4.21%
D&A For EBITDA	231	193	149	134	125
EBIT	4,986	3,209	2,435	1,370	927
EBIT Margin	7.38%	6.43%	5.89%	4.92%	3.71%
Effective Tax Rate	36.42%	36.98%	31.28%	40.26%	51.77%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.