Blue Innovation Income Statement

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

Millions JPY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,255	1,223	1,264	908	725
Revenue Growth (YoY)	-	-3.24%	39.21%	25.24%	-
Cost of Revenue	737	712	698	517	487
Gross Profit	518	511	566	391	238
Selling, General & Admin	818	762	615	740	629
Research & Development	147	147	241	-	-
Operating Expenses	965	909	856	740	629
Operating Income	-447	-398	-290	-349	-391
Interest Expense	-3	-3	-1	-1	-
Currency Exchange Gain (Loss)	-1	-	-1	-	-
Other Non Operating Income (Expenses)	4	9	-5	7	-3
Pretax Income	-447	-392	-297	-343	-394
Income Tax Expense	2	2	2	2	-
Net Income	-449	-394	-299	-345	-394
Net Income to Common	-449	-394	-299	-345	-394
Shares Outstanding (Basic)	4	4	3	3	3
Shares Outstanding (Diluted)	4	4	3	3	3
Shares Change (YoY)	3.47%	18.92%	1.75%	2.54%	-
EPS (Basic)	-113.97	-100.02	-90.26	-105.97	-124.10
EPS (Diluted)	-113.97	-100.02	-90.26	-105.97	-124.10
Free Cash Flow	-	-531	-350	-	-
Free Cash Flow Per Share	-	-134.80	-105.66	-	-
Gross Margin	41.27%	41.78%	44.78%	43.06%	32.83%
Operating Margin	-35.62%	-32.54%	-22.94%	-38.44%	-53.93%
Profit Margin	-35.78%	-32.22%	-23.66%	-38.00%	-54.34%
Free Cash Flow Margin	-	-43.42%	-27.69%	-	-
EBITDA	-396.75	-350	-245	-	-
EBITDA Margin	-31.61%	-28.62%	-19.38%	-	-
D&A For EBITDA	50.25	48	45	-	-
EBIT	-447	-398	-290	-349	-391
EBIT Margin	-35.62%	-32.54%	-22.94%	-38.44%	-53.93%

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