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Earnings presentation218ALiberaware Co.,Ltd.Electrical Equipment and Precision Instruments

Earnings Presentation Materials for the Third Quarter of the Fiscal Year Ending July 2026

For the cumulative third quarter of the fiscal year ending July 2026, revenue increased 24% year on year, driven by sales of aircraft and other factors. However, margins declined and losses widened due to a greater number of low-gross-margin projects and increased growth investments. In light of delays in the ramp-up of revenue, the full-year earnings forecast was revised downward.

Worth reading
74In focus
Scored from 5 of 6 sections
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
236
¥ million (year-on-year increase in revenue)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationThird quarter of the fiscal year ending July 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,216 million+24.0%
Operating profit¥-1,969 million
Ordinary income¥-1,348 million
Net income¥-1,349 million
Gross Profit Margin42.1 %
Selling, general and administrative expenses¥2,483 million
Results for the three months of the current quarter
Net Sales
¥519 million+42.0%
Gross Profit Margin
37 %
Full-year earnings forecast
Net Sales
1,700～1,900
Gross Profit Margin
44～48
Operating profit (loss)
▲2,154～▲2,311
Ordinary profit or loss
▲574～▲730
Net income (loss) for the current fiscal year
▲575～▲731
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Below expectations
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Aircraft sales+¥101 million
  • Rental services+¥29 million
  • Digital twins+¥45 million
  • New Business Areas+¥46 million
  • SBIR research and development expenses+¥122 million
  • Research and development expenses excluding SBIR+¥180 million
  • Personnel expenses and other expenses+¥269 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • ¥800 10,000
    AssumptionsAverage price per aircraft set
  • Some uncertainty remains
    AssumptionsTiming of Revenue Recognition
New initiatives
  • Selection for 2 sewerage technology development projects related to the Ministry of Land, Infrastructure, Transport and Tourism
  • Launch of the construction progress management support service in July 2026
  • Co-creation program with Kansai Electric Power
  • Quadruped walking robot demonstration with TIS and Tokyo Metropolitan University
  • Selection for the co-creation program with Pacific Consultants
  • Deployment of IBIS2 at S-OIL in South Korea
Key KPIsA metric the company considers important as a management benchmark.
  • Aircraft units sold40.5 Sets
    Year on year against the same period last year49 sets in the previous year
  • Recurring revenue¥626 million
    Year on year against the same period last year¥550 million in the previous year
  • Recurring revenue ratio73 %
    Year on year against the same period last year72% in the previous year
  • Revenue contribution from continuing inspection and data processing service customers69 %
    Year on year against the same period last year71% in the previous year
  • Rental sets37 Sets
    Year on year against the same period last year36 sets in the previous year
  • TRANCITY accounts147 Accounts
    Year on year against the same period last year148 accounts in the previous year
  • Number of continuing solution development projects11 Engagements
    Year on year against the same period last year12 projects in the previous year
  • Cumulative number of corporate customers430 companies
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Aircraft units sold
40.5 Sets
Average price per aircraft set
¥800 10,000
Segment results
  • Drone Business
    Net Sales624
  • Inspection Solutions
    Net Sales176
  • Product delivery services (aircraft sales)
    Net Sales318
  • Product delivery services (rental)
    Net Sales129
  • Digital Twin Business
    Net Sales238
  • Solutions Development Business
    Net Sales304
  • New Business Areas
    Net Sales46
Market Size / Share
  • Domestic SOM for drones serving the railway environment¥2,000 hundred million
    Fiscal year2,025
  • Global TAM for drones serving the railway environment¥13 trillion
    Fiscal year2,030
  • Global drone market TAM¥5.9 trillion (2025) to ¥8.6 trillion (2030)
  • Domestic DX market TAM (manufacturing)¥1.5 trillion (2025) to ¥3 trillion (2030)
  • Domestic drone market TAM¥500 billion (2025) to ¥1 trillion (2030)
Number of employees
143 people
Record dateEnd-April 2026
Change during the periodHeadcount increased by 5, mainly new graduates, from 2Q to 3Q
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredThird quarter of the fiscal year ending July 2026
Net Sales¥1,216 million (YoY +24.0%)
Operating profit¥-1,969 million
Ordinary income¥-1,348 million
Net income¥-1,349 million
Gross Profit Margin42.1 %
Selling, general and administrative expenses¥2,483 million
Results for the three months of the current quarterNet Sales ¥519 million (YoY +42.0%) / Gross Profit Margin 37 %
Full-year earnings forecastNet Sales 1,700～1,900 / Gross Profit Margin 44～48 / Operating profit (loss) ▲2,154～▲2,311 / Ordinary profit or loss ▲574～▲730 / Net income (loss) for the current fiscal year ▲575～▲731
Self-assessment against the planBelow expectations
Segment resultsSegment Drone Business / Net Sales ¥624 million / Year on year against the same period last year Not disclosed, Segment Inspection Solutions / Net Sales ¥176 million / Year on year against the same period last year Not disclosed, Segment Product delivery services (aircraft sales) / Net Sales ¥318 million / Year on year against the same period last year Not disclosed, Segment Product delivery services (rental) / Net Sales ¥129 million / Year on year against the same period last year Not disclosed, Segment Digital Twin Business / Net Sales ¥238 million / Year on year against the same period last year Not disclosed, Segment Solutions Development Business / Net Sales ¥304 million / Year on year against the same period last year Not disclosed, Segment New Business Areas / Net Sales ¥46 million / Year on year against the same period last year Not disclosed
Breakdown of Factors Affecting the ChangeFactors Aircraft sales / Amount +¥101 million, Factors Rental services / Amount +¥29 million, Factors Digital twins / Amount +¥45 million, Factors New Business Areas / Amount +¥46 million, Factors SBIR research and development expenses / Amount +¥122 million, Factors Research and development expenses excluding SBIR / Amount +¥180 million, Factors Personnel expenses and other expenses / Amount +¥269 million
Key KPIsIndicator name Aircraft units sold / Value 40.5 Sets / Year on year against the same period last year 49 sets in the previous year, Indicator name Recurring revenue / Value ¥626 million / Year on year against the same period last year ¥550 million in the previous year, Indicator name Recurring revenue ratio / Value 73 % / Year on year against the same period last year 72% in the previous year, Indicator name Revenue contribution from continuing inspection and data processing service customers / Value 69 % / Year on year against the same period last year 71% in the previous year, Indicator name Rental sets / Value 37 Sets / Year on year against the same period last year 36 sets in the previous year, Indicator name TRANCITY accounts / Value 147 Accounts / Year on year against the same period last year 148 accounts in the previous year, Indicator name Number of continuing solution development projects / Value 11 Engagements / Year on year against the same period last year 12 projects in the previous year, Indicator name Cumulative number of corporate customers / Value 430 companies / Year on year against the same period last year Not disclosed
Unit price and quantity metricsAircraft units sold 40.5 Sets / Average price per aircraft set ¥800 10,000
Number of employees143 people
Assumptions Underlying the Business Outlook¥800 10,000, Some uncertainty remains
Market Size / Share¥2,000 hundred million, ¥13 trillion, ¥5.9 trillion (2025) to ¥8.6 trillion (2030), ¥1.5 trillion (2025) to ¥3 trillion (2030), ¥500 billion (2025) to ¥1 trillion (2030)
New initiativesSelection for 2 sewerage technology development projects related to the Ministry of Land, Infrastructure, Transport and Tourism, Launch of the construction progress management support service in July 2026, Co-creation program with Kansai Electric Power, Quadruped walking robot demonstration with TIS and Tokyo Metropolitan University, Selection for the co-creation program with Pacific Consultants, Deployment of IBIS2 at S-OIL in South Korea
Items this document does not state (12)
Operating profit marginProgress against full-year forecastNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

Aircraft sales increased following the launch of the domestic dealer program. However, the company handled many free sewer inspections and small-scale projects, resulting in shortfalls in inspection solutions and data processing and analysis services. In addition, revenue contributions from new areas, including Trinos and overseas expansion, have been pushed back to the next fiscal year and beyond, while growth investments, including personnel investments and research and development expenses, also increased.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Earnings Presentation Materials for the Third Quarter of the Fiscal Year Ending July 2026 | Liberaware Co.,Ltd. (218A) timely disclosure | Komori