Welby Income Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Revenue	724	635	528	575
Revenue Growth	14.92%	20.27%	-8.17%	-
Cost of Revenue	219	187	148	199
Gross Profit	505	448	380	376
Selling, General & Admin	964	901	1,034	813
Operating Expenses	964	901	1,034	813
Operating Income	-459	-453	-654	-437
Interest Expense	-2	-2	-1	-
Interest & Investment Income	1	1	-	-
Other Non Operating Income (Expenses)	-	-1	-1	-2
EBT Excluding Unusual Items	-460	-455	-656	-439
Asset Writedown	-94	-94	-161	-81
Other Unusual Items	20	16	-	17
Pretax Income	-534	-533	-817	-503
Income Tax Expense	1	1	2	2
Earnings From Continuing Operations	-535	-534	-819	-505
Minority Interest in Earnings	16	-5	15	-
Net Income	-519	-539	-804	-505
Net Income to Common	-519	-539	-804	-505
Net Income Growth	-	-	-	-
Shares Outstanding (Basic)	8	8	8	8
Shares Outstanding (Diluted)	8	8	8	8
Shares Change	0.69%	1.42%	4.17%	-
EPS (Basic)	-62.31	-65.13	-98.54	-64.47
EPS (Diluted)	-62.31	-65.13	-98.54	-64.47
EPS Growth	-	-	-	-

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023
Free Cash Flow	-376	-332	-605	-177
Free Cash Flow Per Share	-45.14	-40.12	-74.15	-22.60
Gross Margin	69.75%	70.55%	71.97%	65.39%
Operating Margin	-63.40%	-71.34%	-123.86%	-76.00%
Profit Margin	-71.69%	-84.88%	-152.27%	-87.83%
Free Cash Flow Margin	-51.93%	-52.28%	-114.58%	-30.78%
EBITDA	-430	-425	-632	-435
EBITDA Margin	-59.39%	-66.93%	-119.70%	-75.65%
D&A For EBITDA	29	28	22	2
EBIT	-459	-453	-654	-437
EBIT Margin	-63.40%	-71.34%	-123.86%	-76.00%