TRADE WORKS Income Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2015
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '15 Dec 31, 2015
Revenue	4,701	4,591	3,753	3,270	908
Revenue Growth (YoY)	15.05%	22.33%	14.77%	260.13%	-
Cost of Revenue	3,716	3,805	3,000	2,439	602
Gross Profit	985	786	753	831	306
Selling, General & Admin	805	752	669	482	193
Operating Expenses	894	841	722	513	193
Operating Income	91	-55	31	318	113
Interest Expense	-5	-3	-1	-	-3
Interest & Investment Income	-	-	1	-	-
Other Non Operating Income (Expenses)	13	4	8	9	-2
EBT Excluding Unusual Items	99	-54	39	327	108
Gain (Loss) on Sale of Investments	-	-47	3	-	-
Asset Writedown	-	-	-	-4	-
Legal Settlements	-10	-	-	-25	-
Other Unusual Items	-	-	-100	-1	-
Pretax Income	89	-101	-58	297	108
Income Tax Expense	115	50	-5	97	41
Net Income	-26	-151	-53	200	67
Net Income to Common	-26	-151	-53	200	67
Net Income Growth	-	-	-	198.51%	-
Shares Outstanding (Basic)	4	3	3	3	2
Shares Outstanding (Diluted)	4	3	3	3	2
Shares Change (YoY)	8.75%	2.44%	-3.54%	55.65%	-
EPS (Basic)	-7.24	-44.83	-16.12	58.78	30.59
EPS (Diluted)	-7.24	-44.83	-16.12	58.76	30.59
EPS Growth	-	-	-	92.07%	-
Free Cash Flow	-400	-13	-217	394	-
Free Cash Flow Per Share	-111.42	-3.86	-66.00	115.59	-
Dividend Per Share	20.000	20.000	20.000	15.000	-
Dividend Growth	-	-	33.33%	-	-
Gross Margin	20.95%	17.12%	20.06%	25.41%	33.70%
Operating Margin	1.94%	-1.20%	0.83%	9.72%	12.45%
Profit Margin	-0.55%	-3.29%	-1.41%	6.12%	7.38%
Free Cash Flow Margin	-8.51%	-0.28%	-5.78%	12.05%	-
EBITDA	256	125	171	435	-
EBITDA Margin	5.45%	2.72%	4.56%	13.30%	-
D&A For EBITDA	165	180	140	117	-
EBIT	91	-55	31	318	113
EBIT Margin	1.94%	-1.20%	0.83%	9.72%	12.45%
Effective Tax Rate	129.21%	-	-	32.66%	37.96%

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