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Financial results presentation338AZenmuTech,Inc.Information and Communications, Services and Others

Financial Results Briefing Materials for the First Quarter of the Fiscal Year Ending December 2026

In the first quarter of FY2026, revenue declined due to the year-on-year impact of unusually high one-off projects in the same period last year, while the operating loss widened as growth investments, including recruitment costs, increased. The company explained that both revenue and operating profit are progressing in line with the full-year plan.

Worth reading
56In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Deterioration
Direction inferred from the company’s description.
Scale
48
¥ million (year-on-year increase in operating loss)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFirst quarter of the fiscal year ending December 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥145 million-9.6%
Operating profit¥-55 million
Ordinary income¥-34 million
Net income¥-26 million
Operating profit margin-37.9 %
Selling, general and administrative expenses¥179 million
Results for the three months of the current quarter
Net Sales
¥145 million
Operating profit
¥-55 million
Ordinary income
¥-34 million
Net income for the current fiscal year
¥-26 million
Full-year earnings forecast
Net Sales
¥1,080 million
Operating profit
¥161 million
Ordinary income
¥180 million
Net income for the current fiscal year
¥302 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Both revenue and profit are progressing in line with plan
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Decrease in revenue¥-15 million
  • Elimination of IPO-related expenses¥14 million
  • Control of cost of sales¥1 million
  • Elimination of advertising expenses incurred at the time of the IPO¥9 million
  • Increase in personnel expenses due to additional hiring, etc.¥-16 million
  • Higher other SG&A expenses¥-5 million
  • R&D expense subsidy received through participation in SBIR¥2 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Uneven timing of major business negotiations, front-loaded expenses from growth investments, and continued accumulation of subscription revenue. Numerical assumptions: Not disclosed.
New initiatives
  • Execution of an MOU for a strategic collaboration with Taiwan-based BigObject
  • Launch of ZENMU Virtual Drive Limited Edition (ZLE)
  • Launch of the ZENMU Virtual Drive disaster recovery option
  • Development of QueryAhead® as a PaaS solution
  • Market research, participation in trade shows, and partner development for overseas expansion
Key KPIsA metric the company considers important as a management benchmark.
  • Number of ZENMU Virtual Drive licenses117,076 Licensing
  • Number of ZVD subscription contracts72,783 Licensing
  • Number of ZVD maintenance contracts44,293 Licensing
  • Net churn rate0.4 %
  • Stock revenue ratio70.7 %
Segment results
  • QueryAhead®
    Net Sales¥24 million
    Year on year against the same period last year-57.6%
  • ZENMU Engine
    Net Sales¥2 million
    Year on year against the same period last year-58.5%
  • ZENMU Virtual Drive
    Net Sales¥115 million
    Year on year against the same period last year+22.5%
  • Other
    Net Sales¥4 million
Medium-term management plan targets
  • 30 %
    TargetRevenue CAGR
    Target fiscal yearFiscal year ending December 2030
  • 30 %
    TargetOperating margin
    Target fiscal yearFiscal year ending December 2030
  • ¥1,000 million
    TargetRevenue
    Target fiscal yearFY203X
Financial targets
Operating profit margin
Target value30 %
Target fiscal yearFiscal year ending December 2030
Market Size / Share
  • Number of domestic VDI users802 10,000 people
  • Number of ZENMU Virtual Drive users11 10,000 people
  • ZENMU Virtual Drive users as a percentage of domestic VDI users1 %
  • Global confidential computing market size$16–18 billion
    Record period2,024
  • Global confidential computing market size$52–54 billion
    Record period2,026
Number of employees
Number of Employees37 people
Record date31 March 2026
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending December 2026
Net Sales¥145 million (YoY -9.6%)
Operating profit¥-55 million
Ordinary income¥-34 million
Net income¥-26 million
Operating profit margin-37.9 %
Selling, general and administrative expenses¥179 million
Results for the three months of the current quarterNet Sales ¥145 million / Operating profit ¥-55 million / Ordinary income ¥-34 million / Net income for the current fiscal year ¥-26 million
Full-year earnings forecastNet Sales ¥1,080 million / Operating profit ¥161 million / Ordinary income ¥180 million / Net income for the current fiscal year ¥302 million
Self-assessment against the planBoth revenue and profit are progressing in line with plan
Segment resultsSegment QueryAhead® / Net Sales ¥24 million / Year on year against the same period last year -57.6, Segment ZENMU Engine / Net Sales ¥2 million / Year on year against the same period last year -58.5, Segment ZENMU Virtual Drive / Net Sales ¥115 million / Year on year against the same period last year 22.5, Segment Other / Net Sales ¥4 million / Year on year against the same period last year Not disclosed
Breakdown of Factors Affecting the ChangeFactors Decrease in revenue / Amount ¥-15 million, Factors Elimination of IPO-related expenses / Amount ¥14 million, Factors Control of cost of sales / Amount ¥1 million, Factors Elimination of advertising expenses incurred at the time of the IPO / Amount ¥9 million, Factors Increase in personnel expenses due to additional hiring, etc. / Amount ¥-16 million, Factors Higher other SG&A expenses / Amount ¥-5 million, Factors R&D expense subsidy received through participation in SBIR / Amount ¥2 million
Key KPIsIndicator name Number of ZENMU Virtual Drive licenses / Value 117,076 Licensing / Year on year against the same period last year Not disclosed, Indicator name Number of ZVD subscription contracts / Value 72,783 Licensing / Year on year against the same period last year Not disclosed, Indicator name Number of ZVD maintenance contracts / Value 44,293 Licensing / Year on year against the same period last year Not disclosed, Indicator name Net churn rate / Value 0.4 % / Year on year against the same period last year Not disclosed, Indicator name Stock revenue ratio / Value 70.7 % / Year on year against the same period last year Not disclosed
Number of employeesNumber of Employees 37 people / Record date 31 March 2026
Assumptions Underlying the Business OutlookUneven timing of major business negotiations, front-loaded expenses from growth investments, and continued accumulation of subscription revenue. Numerical assumptions: Not disclosed.
Medium-term management plan targetsTarget Revenue CAGR / Value 30 % / Target fiscal year Fiscal year ending December 2030, Target Operating margin / Value 30 % / Target fiscal year Fiscal year ending December 2030, Target Revenue / Value ¥1,000 million / Target fiscal year FY203X
Financial targetsOperating profit margin Target value 30 % / Target fiscal year Fiscal year ending December 2030
Market Size / ShareIndicator Number of domestic VDI users / Value 802 10,000 people, Indicator Number of ZENMU Virtual Drive users / Value 11 10,000 people, Indicator ZENMU Virtual Drive users as a percentage of domestic VDI users / Value 1 %, Indicator Global confidential computing market size / Value $16–18 billion / Record period 2,024, Indicator Global confidential computing market size / Value $52–54 billion / Record period 2,026
New initiativesExecution of an MOU for a strategic collaboration with Taiwan-based BigObject, Launch of ZENMU Virtual Drive Limited Edition (ZLE), Launch of the ZENMU Virtual Drive disaster recovery option, Development of QueryAhead® as a PaaS solution, Market research, participation in trade shows, and partner development for overseas expansion
Items this document does not state (11)
Gross Profit MarginProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookAnnual 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.

Revenue declined due to the year-on-year impact of an unusually high number of flow projects in the same period last year, as well as seasonality in the timing of orders. The increase in personnel costs for hiring to expand the business and in research and development expenses was cited as the reason for the change in operating profit.

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.
Financial Results Briefing Materials for the First Quarter of the Fiscal Year Ending December 2026 | ZenmuTech,Inc. (338A) timely disclosure | Komori