Komori
Money Forward (3994) · FactAdvancedLatest Earnings (2026-10-15): "Other"

High Growth and Continued Operating Losses

First written in FY2016. 19 of 35 entries say "Advanced", first in FY2018-Q1. Latest entry: 2026-10-15.

35entries
10years
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How it moved
ProgressHeldSoftenedWorseAdvancedFY2023-Q1 – 2026-07-132017: 420172018: 420182019: 320192020: 220202021: 320212022: 420222023: 420232024: 320242025: 220252026: 62026
Same theme, other companies
Narrowing of operating and ordinary losses after widening amid revenue growthA theme 6 companies write about · 6 as a headwind · 0 as a tailwind

The whole theme swung hardest in 2025: 3 of 6 companies on the "Worse" side.

1 other company's latest entry also says "Other".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. FY2026-H1AdvancedAnnual report

    「Revenue: ¥28,992 million, up 24.8% year on year; EBITDA: ¥4,974 million, compared with EBITDA of ¥1,814 million in the previous year; adjusted EBITDA: ¥5,094 million, compared with adjusted EBITDA of ¥1,896 million; operating loss: ¥209 million, compared with an operating loss of ¥1,592 million in the previous year.」

    Revenue increased 24.8% year on year, EBITDA and adjusted EBITDA increased, and the operating loss narrowed from ¥1,592 million to ¥209 million. The operating loss continued.
  2. FY2025AdvancedAnnual report

    「Revenue: ¥50,349 million, up 24.7% year on year; EBITDA: ¥4,782 million, compared with EBITDA of ¥1,727 million in the previous year; operating loss: ¥2,653 million, compared with an operating loss of ¥4,735 million in the previous year.」

    Revenue increased, EBITDA rose from ¥1,727 million to ¥4,782 million, and the operating loss narrowed from ¥4,735 million to ¥2,653 million.
  3. FY2025-H1AdvancedAnnual report

    「As a result, for the interim consolidated accounting period, the Group reported revenue of ¥23,237 million, up 17.0% year on year; EBITDA (Note 5) of ¥1,814 million, compared with EBITDA of ¥1,071 million in the previous year; adjusted EBITDA (Note 6) of ¥1,896 million, compared with adjusted EBITDA of ¥1,072 million; and an operating loss of ¥1,592 million, compared with an operating loss of ¥1,827 million in the previous year.」

    Revenue increased 17.0% year on year, EBITDA and adjusted EBITDA increased, and the operating loss narrowed from the previous year. The coexistence of high growth and an operating loss continued.
  4. FY2024AdvancedAnnual report

    「Revenue: ¥40,363 million, up 32.9% year on year; EBITDA: ¥1,727 million, compared with negative EBITDA of ¥2,260 million in the previous year; operating loss: ¥4,735 million, compared with an operating loss of ¥6,329 million in the previous year.」

    Revenue increased 32.9%, EBITDA turned profitable, and the operating loss narrowed from the previous year.
  5. FY2024-Q2AdvancedAnnual report

    「As a result, for the cumulative second quarter of the fiscal year, the Group reported revenue of ¥19,864 million, up 41.0% year on year; EBITDA (Note 5) of ¥1,071 million, compared with negative EBITDA of ¥1,322 million in the same quarter of the previous year; an operating loss of ¥1,827 million, compared with an operating loss of ¥3,207 million; an ordinary loss of ¥2,145 million, compared with an ordinary loss of ¥3,374 million; and a quarterly net loss attributable to owners of the parent of ¥2,597 million, compared with a quarterly net loss attributable to owners of the parent of ¥3,381 million in the same quarter of the previous year.」

    Revenue increased 41.0% year on year, EBITDA turned from a loss in the previous year to a profit of ¥1,071 million, and the operating loss, ordinary loss and net loss also narrowed.
  6. FY2024-Q1AdvancedAnnual report

    「As a result, for the cumulative first quarter of the fiscal year, the Group reported revenue of ¥9,544 million, up 40.5% year on year; EBITDA (Note 5) of ¥529 million, compared with negative EBITDA of ¥704 million in the same quarter of the previous year; an operating loss of ¥992 million, compared with an operating loss of ¥1,625 million; an ordinary loss of ¥1,135 million, compared with an ordinary loss of ¥1,670 million; and a quarterly net loss attributable to owners of the parent of ¥1,318 million, compared with a quarterly net loss of ¥1,705 million in the same quarter of the previous year.」

    Revenue increased 40.5% year on year, and EBITDA turned from a loss of ¥704 million in the previous year to a profit of ¥529 million. The operating loss, ordinary loss and quarterly net loss attributable to owners of the parent also narrowed from the previous year, although the operating loss continued.
  7. FY2023AdvancedAnnual report

    「As a result, for the fiscal year, the Group reported revenue of ¥30,380 million, up 41.5% year on year; EBITDA (Note 7) of negative ¥2,260 million, compared with negative EBITDA of ¥6,029 million in the previous year; an operating loss of ¥6,329 million, compared with an operating loss of ¥8,469 million; an ordinary loss of ¥6,738 million, compared with an ordinary loss of ¥9,581 million; and a net loss attributable to owners of the parent of ¥6,315 million, compared with a net loss attributable to owners of the parent of ¥9,449 million in the previous year.」

    Revenue increased 41.5%, while the EBITDA loss, operating loss, ordinary loss and net loss attributable to owners of the parent all narrowed from the previous year. The operating loss continued.
  8. FY2023-Q3AdvancedAnnual report

    「As a result, for the cumulative third quarter of the fiscal year, the Group reported revenue of ¥21,584 million, up 41.1% year on year; EBITDA (Note 7) of negative ¥1,660 million, compared with negative EBITDA of ¥4,605 million in the same quarter of the previous year; an operating loss of ¥4,564 million, compared with an operating loss of ¥6,306 million; and an ordinary loss of ¥4,943 million, compared with an ordinary loss of ¥7,356 million.」

    Revenue increased 41.1% year on year, while the EBITDA loss, operating loss and ordinary loss all narrowed from the previous year. The operating loss continued.
  9. FY2023-Q2AdvancedAnnual report

    「As a result, for the cumulative second quarter of the fiscal year, the Group reported revenue of ¥14,087 million, up 43.2% year on year; EBITDA (Note 7) of negative ¥1,322 million, compared with negative EBITDA of ¥2,734 million in the same quarter of the previous year; an operating loss of ¥3,207 million, compared with an operating loss of ¥3,796 million; an ordinary loss of ¥3,374 million, compared with an ordinary loss of ¥3,875 million; and a quarterly net loss attributable to owners of the parent of ¥3,381 million, compared with a quarterly net loss attributable to owners of the parent of ¥3,887 million in the same quarter of the previous year.」

    Revenue increased 43.2% year on year, while the EBITDA loss, operating loss, ordinary loss and quarterly net loss attributable to owners of the parent all narrowed from the previous year. The operating loss nevertheless continued.
  10. FY2023-Q1AdvancedAnnual report

    「As a result, for the cumulative first quarter of the fiscal year, the Group reported revenue of ¥6,791 million, up 42.8% year on year; EBITDA (Note 6) of negative ¥704 million, compared with negative EBITDA of ¥1,159 million in the same quarter of the previous year; an operating loss of ¥1,625 million, compared with an operating loss of ¥1,638 million; an ordinary loss of ¥1,670 million, compared with an ordinary loss of ¥1,655 million; and a quarterly net loss attributable to owners of the parent of ¥1,705 million, compared with a quarterly net loss attributable to owners of the parent of ¥1,668 million in the same quarter of the previous year.」

    Revenue increased 42.8% year on year, while the EBITDA loss narrowed from ¥1,159 million to ¥704 million and the operating loss narrowed slightly from ¥1,638 million to ¥1,625 million. Operating, ordinary and net losses continued.
  11. FY2022WorsenedAnnual report

    「As a result, for the fiscal year, the Group reported revenue of ¥21,477 million, up 37.4% year on year; EBITDA (Note 4) of negative ¥6,029 million, compared with EBITDA of ¥429 million in the previous year; and an operating loss of ¥8,469 million, compared with an operating loss of ¥1,062 million in the previous year.」

    Revenue increased 37.4%, while EBITDA fell from a profit of ¥429 million to a loss of ¥6,029 million, and the operating loss widened from ¥1,062 million to ¥8,469 million.
  12. FY2022-Q3WorsenedAnnual report

    「As a result, for the cumulative third quarter of the fiscal year, the Group reported revenue of ¥15,296 million, up 35.4% year on year; EBITDA (Note 5) of negative ¥4,605 million, compared with EBITDA of ¥690 million in the same quarter of the previous year; an operating loss of ¥6,306 million, compared with an operating loss of ¥401 million; and an ordinary loss of ¥7,356 million, compared with an ordinary loss of ¥751 million. The quarterly net loss attributable to owners of the parent was ¥7,345 million, compared with a quarterly net loss attributable to owners of the parent of ¥758 million in the same quarter of the previous year.」

    Revenue increased 35.4%, while EBITDA fell from a profit in the same period of the previous year to a loss of ¥4,605 million, and the operating loss, ordinary loss and quarterly net loss attributable to owners of the parent also widened substantially.
  13. FY2022-Q2WorsenedAnnual report

    「As a result, for the cumulative second quarter of the fiscal year, the Group reported revenue of ¥9,841 million, up 31.9% year on year; EBITDA (Note 4) of negative ¥2,734 million, compared with EBITDA of ¥648 million in the same quarter of the previous year; an operating loss of ¥3,796 million, compared with operating income of ¥44 million; an ordinary loss of ¥3,875 million, compared with ordinary income of ¥28 million; and a quarterly net loss attributable to owners of the parent of ¥3,887 million, compared with quarterly net income of ¥20 million in the same quarter of the previous year.」

    Revenue increased 31.9% year on year, while EBITDA, operating income, ordinary income and profit attributable to owners of the parent turned negative, significantly worsening the coexistence of high growth and losses.
  14. FY2022-Q1WorsenedAnnual report

    「As a result, for the cumulative first quarter of the fiscal year, the group's results were revenue of ¥4,755 million, up 37.2% year on year; EBITDA (Note 5) of negative ¥1,159 million, compared with EBITDA of ¥358 million in the same quarter of the previous year; an operating loss of ¥1,638 million, compared with operating profit of ¥80 million; an ordinary loss of ¥1,655 million, compared with ordinary profit of ¥74 million; and a net loss attributable to owners of the parent of ¥1,668 million, compared with quarterly net income of ¥64 million.」

    Although revenue increased 37.2% year on year, EBITDA was negative ¥1,159 million and the operating loss was ¥1,638 million, resulting in a shift from operating profitability in the same period of the previous year to an operating deficit.
  15. FY2021AdvancedAnnual report

    「As a result, the group's results for the fiscal year were revenue of ¥15,632 million, up 38.1% year on year; EBITDA (Note 4) of ¥429 million, compared with negative EBITDA of ¥1,956 million in the previous fiscal year; an operating loss of ¥1,062 million, compared with an operating loss of ¥2,804 million; an ordinary loss of ¥1,432 million, compared with an ordinary loss of ¥2,538 million; and a net loss attributable to owners of the parent of ¥1,482 million, compared with a net loss attributable to owners of the parent of ¥2,423 million.」

    Revenue increased 38.1%, EBITDA turned profitable, and the operating, ordinary and net losses all narrowed from the previous year.
  16. FY2021-Q3AdvancedAnnual report

    「As a result, for the cumulative third quarter of the fiscal year, the group's results were revenue of ¥11,293 million, up 41.7% year on year; EBITDA (Note 5) of ¥690 million, compared with negative EBITDA of ¥1,027 million in the same quarter of the previous year; and an operating loss of ¥401 million, compared with an operating loss of ¥1,603 million.」

    Revenue increased 41.7% year on year, EBITDA turned profitable at ¥690 million, and the operating loss narrowed from ¥1,603 million in the same period of the previous year to ¥401 million. However, the operating deficit continued.
  17. FY2021-Q2RestatedAnnual report

    「As a result, for the cumulative second quarter of the fiscal year, the group's results were revenue of ¥7,460 million, up 43.1% year on year; EBITDA (operating income or loss + depreciation and amortization + taxes included in operating expenses + stock-based compensation expense) of ¥648 million, compared with negative EBITDA of ¥880 million in the same quarter of the previous year; operating profit of ¥44 million, compared with an operating loss of ¥1,245 million; ordinary profit of ¥28 million, compared with an ordinary loss of ¥1,287 million; and net income attributable to owners of the parent of ¥20 million, compared with a quarterly net loss of ¥1,274 million.」

    Revenue increased 43.1% year on year, and the company recorded operating profit of ¥44 million, ordinary profit of ¥28 million and net income attributable to owners of the parent of ¥20 million. Operating profitability continued.
  18. FY2021-Q1Achieving operating profitabilityAnnual report

    「As a result, for the cumulative first quarter of the fiscal year, the group's results were revenue of ¥3,466 million, up 44.8% year on year; EBITDA of ¥358 million, compared with negative EBITDA of ¥459 million in the same quarter of the previous year; operating profit of ¥80 million, compared with an operating loss of ¥631 million; ordinary profit of ¥74 million, compared with an ordinary loss of ¥669 million; and net income attributable to owners of the parent of ¥64 million, compared with a quarterly net loss of ¥656 million.」

    Although revenue increased 44.8% year on year, the company recorded operating profit of ¥80 million, ordinary profit of ¥74 million and net income attributable to owners of the parent of ¥64 million, moving from the previous coexistence of high growth and an operating deficit to operating profitability.
  19. FY2020-Q2AdvancedAnnual report

    「As a result, for the cumulative second quarter of the fiscal year, the group's results were revenue of ¥5,214 million, up 70.5% year on year; EBITDA (operating loss + depreciation and amortization + taxes included in operating expenses) of negative ¥976 million, compared with negative EBITDA of ¥1,426 million in the same quarter of the previous year; an operating loss of ¥1,245 million, compared with an operating loss of ¥1,558 million; an ordinary loss of ¥1,287 million, compared with an ordinary loss of ¥1,662 million; and a net loss attributable to owners of the parent of ¥1,274 million, compared with a net loss attributable to owners of the parent of ¥1,733 million.」

    Although revenue increased 70.5% year on year, EBITDA, operating loss, ordinary loss and net loss attributable to owners of the parent all narrowed from the same period of the previous year. The operating deficit continued.
  20. FY2020-Q1AdvancedAnnual report

    「As a result, for the cumulative first quarter of the fiscal year, the group's results were revenue of ¥2,393 million, up 71.3% year on year; EBITDA (operating loss + depreciation and amortization + taxes included in operating expenses) of negative ¥499 million, compared with negative EBITDA of ¥921 million in the same quarter of the previous year; an operating loss of ¥631 million, compared with an operating loss of ¥984 million; an ordinary loss of ¥669 million, compared with an ordinary loss of ¥1,083 million; and a net loss attributable to owners of the parent of ¥656 million, compared with a net loss attributable to owners of the parent of ¥1,154 million.」

    Revenue increased 71.3% year on year, while EBITDA, operating loss, ordinary loss and net loss attributable to owners of the parent all narrowed from the same period of the previous year. However, the operating deficit continued.
  21. FY2019-Q3WorsenedAnnual report

    「As a result, for the cumulative third quarter of the fiscal year, the group's results were revenue of ¥4,940,342 thousand, up 58.0% year on year; EBITDA (operating loss + depreciation and amortization + amortization of goodwill) of negative ¥1,737,231 thousand, compared with negative EBITDA of ¥407,809 thousand in the same quarter of the previous year; an operating loss of ¥1,867,385 thousand, compared with an operating loss of ¥507,364 thousand; an ordinary loss of ¥1,981,659 thousand, compared with an ordinary loss of ¥528,234 thousand; and a net loss attributable to owners of the parent of ¥2,043,485 thousand, compared with a net loss attributable to owners of the parent of ¥525,522 thousand.」

    Although revenue increased 58.0% year on year, EBITDA, operating loss, ordinary loss and net loss attributable to owners of the parent all increased substantially from the same period of the previous year, further worsening the coexistence of high growth and an operating deficit.
  22. FY2019-Q2WorsenedAnnual report

    「As a result, for the cumulative second quarter of the fiscal year, the group's results were revenue of ¥3,058,846 thousand, up 53.2% year on year; EBITDA (operating loss + depreciation and amortization + amortization of goodwill) of negative ¥1,466,656 thousand, compared with negative EBITDA of ¥160,801 thousand in the same quarter of the previous year; an operating loss of ¥1,558,313 thousand, compared with an operating loss of ¥221,060 thousand; an ordinary loss of ¥1,662,330 thousand, compared with an ordinary loss of ¥235,220 thousand; and a net loss attributable to owners of the parent of ¥1,733,357 thousand, compared with a net loss attributable to owners of the parent of ¥232,026 thousand.」

    Although revenue increased 53.2% year on year, EBITDA, operating loss, ordinary loss and net loss attributable to owners of the parent all increased substantially from the same period of the previous year, worsening the coexistence of high growth and an operating deficit.
  23. FY2019-Q1WorsenedAnnual report

    「As a result, for the cumulative first quarter of the fiscal year, the group's results were revenue of ¥1,397,539 thousand, up 54.3% year on year; EBITDA (operating loss + depreciation and amortization + amortization of goodwill) of negative ¥941,164 thousand, compared with negative EBITDA of ¥94,138 thousand in the same quarter of the previous year; an operating loss of ¥984,304 thousand, compared with an operating loss of ¥123,336 thousand; an ordinary loss of ¥1,083,617 thousand, compared with an ordinary loss of ¥131,829 thousand; and a net loss attributable to owners of the parent of ¥1,154,918 thousand, compared with a net loss attributable to owners of the parent of ¥128,160 thousand.」

    Although revenue increased 54.3% year on year, EBITDA, operating loss, ordinary loss and net loss attributable to owners of the parent all increased substantially from the same period of the previous year.
  24. FY2018-Q3AdvancedAnnual report

    「As a result, for the cumulative third quarter of the fiscal year, the group's results were revenue of ¥3,126,172 thousand, up 61.6% year on year; EBITDA (operating loss + depreciation and amortization + amortization of goodwill) of negative ¥407,809 thousand, compared with negative EBITDA of ¥711,719 thousand in the same quarter of the previous year; an operating loss of ¥507,364 thousand, compared with an operating loss of ¥720,834 thousand; an ordinary loss of ¥528,234 thousand, compared with an ordinary loss of ¥735,563 thousand; and a net loss attributable to owners of the parent of ¥525,522 thousand, compared with a net loss attributable to owners of the parent of ¥741,377 thousand.」

    Revenue increased 61.6% year on year, while EBITDA, operating loss, ordinary loss and net loss attributable to owners of the parent all narrowed from the same period of the previous year. However, the operating deficit continued.
  25. FY2018-Q2AdvancedAnnual report

    「As a result, for the cumulative second quarter of the fiscal year, the group's results were revenue of ¥1,996,571 thousand, up 66.0% year on year; EBITDA (operating loss + depreciation and amortization + amortization of goodwill) of negative ¥160,801 thousand, compared with negative EBITDA of ¥669,870 thousand in the same quarter of the previous year; an operating loss of ¥221,060 thousand, compared with an operating loss of ¥675,639 thousand; an ordinary loss of ¥235,220 thousand, compared with an ordinary loss of ¥679,453 thousand; and a net loss attributable to owners of the parent of ¥232,026 thousand, compared with a net loss attributable to owners of the parent of ¥683,328 thousand.」

    Revenue increased 66.0% year on year, while EBITDA, operating loss, ordinary loss and net loss attributable to owners of the parent all narrowed from the same period of the previous year. However, the operating deficit continued.
  26. FY2018-Q1AdvancedAnnual report

    「As a result, for the cumulative first quarter of the fiscal year, the group's results were revenue of ¥905,991 thousand, up 77.5% year on year; EBITDA (operating profit + depreciation and amortization + amortization of goodwill) of negative ¥94,138 thousand, compared with negative EBITDA of ¥559,417 thousand in the same quarter of the previous year; an operating loss of ¥123,336 thousand, compared with an operating loss of ¥562,121 thousand; an ordinary loss of ¥131,829 thousand, compared with an ordinary loss of ¥563,801 thousand; and a net loss attributable to owners of the parent of ¥128,160 thousand, compared with a net loss attributable to owners of the parent of ¥565,739 thousand.」

    Revenue increased 77.5% year on year, while EBITDA, operating loss, ordinary loss and net loss attributable to owners of the parent all narrowed from the same quarter of the previous year. However, the operating deficit continued.
  27. FY2017RestatedAnnual report

    「As a result, the group's results for the fiscal year were revenue of ¥2,899,548 thousand, an operating loss of ¥797,298 thousand, an ordinary loss of ¥834,315 thousand and a net loss attributable to owners of the parent of ¥842,814 thousand.」

    Although revenue expanded, the company recorded operating, ordinary and net losses attributable to owners of the parent for the full fiscal year.
  28. FY2017-Q3RestatedAnnual report

    「As a result, for the cumulative third quarter of the fiscal year, the group's results were revenue of ¥1,934,966 thousand, an operating loss of ¥720,834 thousand, an ordinary loss of ¥735,563 thousand and a net loss attributable to owners of the parent of ¥741,377 thousand.」

    Although revenue expanded, the operating loss, ordinary loss and net loss attributable to owners of the parent continued.
  29. FY2017-Q2RestatedAnnual report

    「As a result, for the cumulative second quarter of the fiscal year, the group's results were revenue of ¥1,202,827 thousand, an operating loss of ¥675,639 thousand, an ordinary loss of ¥679,453 thousand and a net loss attributable to owners of the parent of ¥683,328 thousand.」

    Although revenue was recorded, the operating loss, ordinary loss and net loss attributable to owners of the parent continued.
  30. FY2017-Q1RestatedAnnual report

    「As a result, for the cumulative first quarter of the fiscal year, the group's results were revenue of ¥510,278 thousand, an operating loss of ¥562,121 thousand, an ordinary loss of ¥563,801 thousand and a net loss attributable to owners of the parent of ¥565,739 thousand.」

    Although revenue was recorded for the quarter, operating, ordinary and net losses continued.
  31. FY2016First statedAnnual report

    「Revenue was ¥1,542,178 thousand, up 249.1% from the previous fiscal year; operating loss was ¥876,538 thousand, compared with an operating loss of ¥1,120,330 thousand in the previous fiscal year; ordinary loss was ¥882,592 thousand, compared with an ordinary loss of ¥1,133,819 thousand; and net loss was ¥888,972 thousand, compared with a net loss of ¥1,142,110 thousand.」

    Although revenue increased substantially, the company recorded operating, ordinary and net losses.
Moved together

"Continued Operating Losses from Upfront Investments and Uncertainty Regarding Profitability Improvement" moved the same way as this thread, in the same document, in 19 of its 35 moves.

191712101010★123456
  1. ★This thread
  2. 1Continued Operating Losses from Upfront Investments and Uncertainty Regarding Profitability Improvement19×
  3. 2Raising Growth Capital through Share Issuance and Bank Borrowings17×
  4. 3Recurring Revenue Driven by Growth in Paid Users12×
  5. 4Service Adoption and Expansion of the Domestic Customer Base10×
  6. 5Improving Back-Office Efficiency and Productivity through MF Cloud10×
  7. 6SaaS ARR as a New Management Metric10×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for Money Forward yet. It last moved in the Earnings of 2026-10-15: "Other".
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High Growth and Continued Operating Losses | Money Forward,Inc. (3994) | Komori