eWeLL Income Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,392	2,571	2,069	1,603	1,192
Revenue Growth (YoY)	31.95%	24.26%	29.07%	34.48%	50.89%
Cost of Revenue	737.85	574	432	333	231
Gross Profit	2,655	1,997	1,637	1,270	961
Selling, General & Admin	1,117	802	693	565	559
Operating Expenses	1,117	861	728	577	559
Operating Income	1,537	1,136	909	693	402
Interest Expense	-0.34	-2	-3	-5	-2
Interest & Investment Income	4.2	-	-	-	-
Other Non Operating Income (Expenses)	5.19	4	3	-13	3
EBT Excluding Unusual Items	1,547	1,138	909	675	403
Gain (Loss) on Sale of Assets	-0.19	-	-2	-	-
Pretax Income	1,546	1,138	907	675	403
Income Tax Expense	458.09	330	295	226	63
Net Income to Company	1,088	808	612	449	340
Net Income	1,088	808	612	449	340
Net Income to Common	1,088	808	612	449	340
Net Income Growth	34.68%	32.03%	36.30%	32.06%	84.78%
Shares Outstanding (Basic)	15	15	7	7	6
Shares Outstanding (Diluted)	15	15	8	7	6
Shares Change (YoY)	0.26%	100.31%	10.28%	9.38%	-
EPS (Basic)	71.75	53.81	85.98	67.10	53.90
EPS (Diluted)	71.22	53.02	80.44	65.08	53.90
EPS Growth	34.33%	-34.09%	23.60%	20.73%	84.78%
Free Cash Flow	1,228	839	440	527	-
Free Cash Flow Per Share	80.38	55.05	57.83	76.39	-
Dividend Per Share	16.000	-	-	-	-
Gross Margin	78.25%	77.67%	79.12%	79.23%	80.62%
Operating Margin	45.32%	44.19%	43.93%	43.23%	33.73%
Profit Margin	32.08%	31.43%	29.58%	28.01%	28.52%
Free Cash Flow Margin	36.20%	32.63%	21.27%	32.88%	-
EBITDA	1,644	1,216	968	725	-
EBITDA Margin	48.45%	47.30%	46.79%	45.23%	-
D&A For EBITDA	106.22	80	59	32	-
EBIT	1,537	1,136	909	693	402
EBIT Margin	45.32%	44.19%	43.93%	43.23%	33.73%
Effective Tax Rate	29.62%	29.00%	32.52%	33.48%	15.63%
Advertising Expenses	-	106	87	-	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.