Nulab Income Statement

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

Millions JPY. Fiscal year is Apr - Mar.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024	Mar '23 Mar 31, 2023	Mar '22 Mar 31, 2022	Mar '21 Mar 31, 2021
Revenue	4,246	4,112	3,662	2,706	2,328	1,938
Revenue Growth (YoY)	7.60%	12.29%	35.33%	16.24%	20.12%	22.27%
Cost of Revenue	1,085	1,148	1,025	973	911	849
Gross Profit	3,161	2,964	2,637	1,733	1,417	1,089
Selling, General & Admin	2,665	2,323	2,305	1,632	1,248	1,096
Operating Expenses	2,665	2,323	2,305	1,632	1,248	1,096
Operating Income	496	641	332	101	169	-7
Interest Expense	-	-	-	-	-1	-2
Interest & Investment Income	3	1	-	-	-	-
Currency Exchange Gain (Loss)	-1	-	-3	-4	-4	-3
Other Non Operating Income (Expenses)	-1	-	1	-5	-1	3
EBT Excluding Unusual Items	497	642	330	92	163	-9
Gain (Loss) on Sale of Investments	-	7	-	-	-	-
Asset Writedown	-	-	-7	-6	-	-12
Pretax Income	497	649	323	86	163	-21
Income Tax Expense	50	97	15	-2	-34	4
Net Income to Company	-	552	308	88	197	-25
Net Income	447	552	308	88	197	-25
Net Income to Common	447	552	308	88	197	-25
Net Income Growth	19.20%	79.22%	250.00%	-55.33%	-	-
Shares Outstanding (Basic)	6	6	6	6	6	6
Shares Outstanding (Diluted)	7	7	7	6	6	6
Shares Change (YoY)	-1.16%	-0.45%	3.33%	6.52%	-	9.77%
EPS (Basic)	68.94	85.15	47.71	13.91	33.16	-4.21
EPS (Diluted)	68.84	84.92	47.14	13.91	33.16	-4.21
EPS Growth	20.69%	80.14%	238.94%	-58.06%	-	-
Free Cash Flow	607	725	784	277	-	-
Free Cash Flow Per Share	93.33	111.40	119.92	43.78	-	-
Gross Margin	74.45%	72.08%	72.01%	64.04%	60.87%	56.19%
Operating Margin	11.68%	15.59%	9.07%	3.73%	7.26%	-0.36%
Profit Margin	10.53%	13.42%	8.41%	3.25%	8.46%	-1.29%
Free Cash Flow Margin	14.30%	17.63%	21.41%	10.24%	-	-
EBITDA	600	744	432	193	-	-
EBITDA Margin	14.13%	18.09%	11.80%	7.13%	-	-
D&A For EBITDA	104	103	100	92	-	-
EBIT	496	641	332	101	169	-7
EBIT Margin	11.68%	15.59%	9.07%	3.73%	7.26%	-0.36%
Effective Tax Rate	10.06%	14.95%	4.64%	-	-	-
Advertising Expenses	-	635	890	447	-	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.