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	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '15 Dec 31, 2015
Revenue	4,418	4,591	3,753	3,270	908
Revenue Growth (YoY)	15.62%	22.33%	14.77%	260.13%	-
Cost of Revenue	3,643	3,805	3,000	2,439	602
Gross Profit	775	786	753	831	306
Selling, General & Admin	766	752	669	482	193
Operating Expenses	855	841	722	513	193
Operating Income	-80	-55	31	318	113
Interest Expense	-3	-3	-1	-	-3
Interest & Investment Income	-	-	1	-	-
Other Non Operating Income (Expenses)	3	4	8	9	-2
EBT Excluding Unusual Items	-80	-54	39	327	108
Gain (Loss) on Sale of Investments	-	-47	3	-	-
Asset Writedown	-	-	-	-4	-
Legal Settlements	-	-	-	-25	-
Other Unusual Items	-	-	-100	-1	-
Pretax Income	-80	-101	-58	297	108
Income Tax Expense	63	50	-5	97	41
Net Income	-143	-151	-53	200	67
Net Income to Common	-143	-151	-53	200	67
Net Income Growth	-	-	-	198.51%	-
Shares Outstanding (Basic)	3	3	3	3	2
Shares Outstanding (Diluted)	3	3	3	3	2
Shares Change (YoY)	4.39%	2.44%	-3.54%	55.65%	-
EPS (Basic)	-41.57	-44.83	-16.12	58.78	30.59
EPS (Diluted)	-41.57	-44.83	-16.12	58.76	30.59
EPS Growth	-	-	-	92.07%	-
Free Cash Flow	-	-13	-217	394	-
Free Cash Flow Per Share	-	-3.86	-66.00	115.59	-
Dividend Per Share	20.000	20.000	20.000	15.000	-
Dividend Growth	-	-	33.33%	-	-
Gross Margin	17.54%	17.12%	20.06%	25.41%	33.70%
Operating Margin	-1.81%	-1.20%	0.83%	9.72%	12.45%
Profit Margin	-3.24%	-3.29%	-1.41%	6.12%	7.38%
Free Cash Flow Margin	-	-0.28%	-5.78%	12.05%	-
EBITDA	110	125	171	435	-
EBITDA Margin	2.49%	2.72%	4.56%	13.30%	-
D&A For EBITDA	190	180	140	117	-
EBIT	-80	-55	31	318	113
EBIT Margin	-1.81%	-1.20%	0.83%	9.72%	12.45%
Effective Tax Rate	-	-	-	32.66%	37.96%

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