Nulab 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	4,393	4,112	3,662	2,706	2,328
Revenue Growth (YoY)	6.83%	12.29%	35.33%	16.24%	20.12%
Cost of Revenue	1,151	1,148	1,025	973	911
Gross Profit	3,242	2,964	2,637	1,733	1,417
Selling, General & Admin	2,888	2,323	2,305	1,632	1,248
Operating Expenses	2,888	2,323	2,305	1,632	1,248
Operating Income	354	641	332	101	169
Interest Expense	-	-	-	-	-1
Interest & Investment Income	5	1	-	-	-
Currency Exchange Gain (Loss)	12	-	-3	-4	-4
Other Non Operating Income (Expenses)	2	-	1	-5	-1
EBT Excluding Unusual Items	373	642	330	92	163
Gain (Loss) on Sale of Investments	-	7	-	-	-
Asset Writedown	-13	-	-7	-6	-
Other Unusual Items	-98	-	-	-	-
Pretax Income	262	649	323	86	163
Income Tax Expense	84	97	15	-2	-34
Net Income to Company	178	552	308	88	197
Net Income	178	552	308	88	197
Net Income to Common	178	552	308	88	197
Net Income Growth	-67.75%	79.22%	250.00%	-55.33%	-
Shares Outstanding (Basic)	6	6	6	6	6
Shares Outstanding (Diluted)	6	7	7	6	6
Shares Change (YoY)	-0.87%	-0.45%	3.33%	6.52%	-
EPS (Basic)	27.59	85.15	47.71	13.91	33.16
EPS (Diluted)	27.59	84.92	47.14	13.91	33.16
EPS Growth	-67.51%	80.14%	238.94%	-58.06%	-
Free Cash Flow	264	725	784	277	-
Free Cash Flow Per Share	40.92	111.40	119.92	43.78	-
Gross Margin	73.80%	72.08%	72.01%	64.04%	60.87%
Operating Margin	8.06%	15.59%	9.07%	3.73%	7.26%
Profit Margin	4.05%	13.42%	8.41%	3.25%	8.46%
Free Cash Flow Margin	6.01%	17.63%	21.41%	10.24%	-
EBITDA	474	744	432	193	-
EBITDA Margin	10.79%	18.09%	11.80%	7.13%	-
D&A For EBITDA	120	103	100	92	-
EBIT	354	641	332	101	169
EBIT Margin	8.06%	15.59%	9.07%	3.73%	7.26%
Effective Tax Rate	32.06%	14.95%	4.64%	-	-
Advertising Expenses	-	635	890	447	-

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