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	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '15 Dec 31, 2015
Revenue	4,963	4,591	3,753	3,270	908
Revenue Growth (YoY)	14.12%	22.33%	14.77%	260.13%	-
Cost of Revenue	3,831	3,805	3,000	2,439	602
Gross Profit	1,132	786	753	831	306
Selling, General & Admin	834	752	669	482	193
Amortization of Goodwill & Intangibles	54	54	41	21	-
Operating Expenses	923	841	722	513	193
Operating Income	209	-55	31	318	113
Interest Expense	-7	-3	-1	-	-3
Interest & Investment Income	1	-	1	-	-
Other Non Operating Income (Expenses)	11	4	8	9	-2
EBT Excluding Unusual Items	208	-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	198	-101	-58	297	108
Income Tax Expense	127	50	-5	97	41
Net Income	71	-151	-53	200	67
Net Income to Common	71	-151	-53	200	67
Net Income Growth	-	-	-	198.51%	-
Shares Outstanding (Basic)	37	34	33	34	22
Shares Outstanding (Diluted)	37	34	33	34	22
Shares Change (YoY)	11.33%	2.44%	-3.54%	55.65%	-
EPS (Basic)	1.91	-4.48	-1.61	5.88	3.06
EPS (Diluted)	1.91	-4.48	-1.61	5.88	3.06
EPS Growth	-	-	-	92.07%	-
Free Cash Flow	-	-13	-217	394	-
Free Cash Flow Per Share	-	-0.39	-6.60	11.56	-
Dividend Per Share	2.000	2.000	2.000	1.500	-
Dividend Growth	-	-	33.33%	-	-
Gross Margin	22.81%	17.12%	20.06%	25.41%	33.70%
Operating Margin	4.21%	-1.20%	0.83%	9.72%	12.45%
Profit Margin	1.43%	-3.29%	-1.41%	6.12%	7.38%
Free Cash Flow Margin	-	-0.28%	-5.78%	12.05%	-
EBITDA	419	125	171	435	-
EBITDA Margin	8.44%	2.72%	4.56%	13.30%	-
D&A For EBITDA	210	180	140	117	-
EBIT	209	-55	31	318	113
EBIT Margin	4.21%	-1.20%	0.83%	9.72%	12.45%
Effective Tax Rate	64.14%	-	-	32.66%	37.96%

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