Kudan Income Statement

Financials in millions JPY. Fiscal year is April - March.

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Mar '26 Mar 31, 2026	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022
Revenue	1,196	517	490	332	271
Revenue Growth (YoY)	131.34%	5.51%	47.59%	22.51%	113.39%
Cost of Revenue	826	178	52	156	148
Gross Profit	370	339	438	176	123
Selling, General & Admin	956	762	646	516	429
Research & Development	-	378	320	259	128
Operating Expenses	956	1,146	969	775	557
Operating Income	-586	-807	-531	-599	-434
Interest Expense	-4	-4	-3	-3	-
Interest & Investment Income	3	1	-	-	13
Earnings From Equity Investments	-	-	-	-	-403
Currency Exchange Gain (Loss)	354	21	384	146	124
Other Non Operating Income (Expenses)	58	46	100	62	18
EBT Excluding Unusual Items	-175	-743	-50	-394	-682
Gain (Loss) on Sale of Investments	-	-	-	-	-48
Asset Writedown	-12	-57	-18	-20	-1,474
Pretax Income	-187	-800	-68	-414	-2,204
Income Tax Expense	1	1	1	-1	33
Net Income	-188	-801	-69	-413	-2,237
Net Income to Common	-188	-801	-69	-413	-2,237
Shares Outstanding (Basic)	11	11	9	8	8
Shares Outstanding (Diluted)	11	11	9	8	8
Shares Change (YoY)	2.56%	24.03%	5.76%	6.41%	5.34%
EPS (Basic)	-16.66	-72.79	-7.78	-49.23	-283.73
EPS (Diluted)	-16.66	-72.79	-7.78	-49.23	-283.73
Free Cash Flow	-644	-872	-508	-639	-518
Free Cash Flow Per Share	-57.06	-79.24	-57.25	-76.17	-65.70
Gross Margin	30.94%	65.57%	89.39%	53.01%	45.39%
Operating Margin	-49.00%	-156.09%	-108.37%	-180.42%	-160.15%
Profit Margin	-15.72%	-154.93%	-14.08%	-124.40%	-825.46%
Free Cash Flow Margin	-53.85%	-168.66%	-103.67%	-192.47%	-191.14%
EBITDA	-	-	-	-	-429
EBITDA Margin	-	-	-	-	-158.30%
D&A For EBITDA	-	-	-	-	5
EBIT	-586	-807	-531	-599	-434
EBIT Margin	-49.00%	-156.09%	-108.37%	-180.42%	-160.15%

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