Frontier Management 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	FY 2020
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	Dec '20 Dec 31, 2020
Revenue	11,294	9,265	10,025	7,915	5,741	5,192
Revenue Growth (YoY)	18.81%	-7.58%	26.66%	37.87%	10.57%	8.82%
Cost of Revenue	6,820	5,006	4,498	3,230	2,248	2,084
Gross Profit	4,474	4,259	5,527	4,685	3,493	3,108
Selling, General & Admin	5,238	4,862	4,264	3,765	2,984	2,526
Other Operating Expenses	29	29	11	6	7	-
Operating Expenses	5,282	4,891	4,275	3,777	2,992	2,527
Operating Income	-807.99	-632	1,252	908	501	581
Interest Expense	-102.69	-18	-11	-7	-1	-
Earnings From Equity Investments	-11.34	-48	4	8	6	7
Currency Exchange Gain (Loss)	10.03	-	1	9	6	-
Other Non Operating Income (Expenses)	-106.33	-11	-9	1	1	-13
EBT Excluding Unusual Items	-1,013	-709	1,237	919	513	575
Gain (Loss) on Sale of Investments	-	-	1	-53	-	-
Other Unusual Items	-135	-	-	-	-	-
Pretax Income	-1,148	-709	1,238	866	513	575
Income Tax Expense	15.62	-4	447	301	175	155
Earnings From Continuing Operations	-1,164	-705	791	565	338	420
Minority Interest in Earnings	32.36	11	-11	-9	-	-
Net Income	-1,131	-694	780	556	338	420
Net Income to Common	-1,131	-694	780	556	338	420
Net Income Growth	-	-	40.29%	64.50%	-19.52%	-2.10%
Shares Outstanding (Basic)	12	12	12	11	11	11
Shares Outstanding (Diluted)	12	12	12	12	12	12
Shares Change (YoY)	0.08%	-0.06%	1.11%	0.29%	-0.69%	-0.35%
EPS (Basic)	-96.26	-59.13	67.46	48.61	29.64	36.85
EPS (Diluted)	-96.26	-59.13	66.47	47.93	29.24	36.05
EPS Growth	-	-	38.68%	63.92%	-18.89%	-1.73%
Free Cash Flow	-	-2,519	188	1,163	290	454
Free Cash Flow Per Share	-	-214.62	16.01	100.13	25.04	38.93
Dividend Per Share	-	-	41.000	28.000	10.000	12.000
Dividend Growth	-	-	46.43%	180.00%	-16.67%	4.35%
Gross Margin	39.62%	45.97%	55.13%	59.19%	60.84%	59.86%
Operating Margin	-7.15%	-6.82%	12.49%	11.47%	8.73%	11.19%
Profit Margin	-10.02%	-7.49%	7.78%	7.03%	5.89%	8.09%
Free Cash Flow Margin	-	-27.19%	1.88%	14.69%	5.05%	8.74%
EBITDA	-707.49	-530	1,356	992	537	619
EBITDA Margin	-6.26%	-5.72%	13.53%	12.53%	9.35%	11.92%
D&A For EBITDA	100.5	102	104	84	36	38
EBIT	-807.99	-632	1,252	908	501	581
EBIT Margin	-7.15%	-6.82%	12.49%	11.47%	8.73%	11.19%
Effective Tax Rate	-	-	36.11%	34.76%	34.11%	26.96%

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