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Susmed (4263) · FactContract milestone revenue increased, but profit declined

Recognition of Business Revenue and Profit from Contract Milestones in the DTx Product Business

First written in FY2024-Q2. 4 of 11 entries say "Worsened", first in FY2024. Latest entry: FY2026.

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How it moved
ProgressHeldSoftenedWorseFirst statedFY2024-Q2 – FY2024-Q3WorsenedFY2024 – FY2025-H1MitigatedFY2025Mitigated2026-05-08 – 2026-08-072024: 320242025: 220252026: 62026
Same theme, other companies
Revenue Structure Centered on Upfront and Milestone PaymentsA theme 5 companies write about · 0 as a headwind · 3 as a tailwind

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. FY2026Contract milestone revenue increased, but profit declinedAnnual report

    「As a result, revenue from this business was ¥340.234 million (¥300.000 million in the same period of the previous year), and segment profit was ¥103.418 million (¥118.092 million in the same period of the previous year).」

    Revenue from the DTx product business increased due to milestone income from the tinnitus treatment app and the app for premenstrual syndrome and premenstrual dysphoric disorder, while segment profit declined.
  2. FY2026-H1WorsenedAnnual report

    「As a result, no revenue from operations was recognized in this reporting segment during the current interim accounting period (none in the previous year), and the segment recorded a loss of ¥100.808 million (¥82.199 million in the previous year).」

    The DTx product business again recorded no revenue from operations in the current interim accounting period, and the segment loss widened from ¥82.199 million in the previous year to ¥100.808 million.
  3. FY2025MitigatedAnnual report

    「As a result, revenue from operations in this business was ¥300 million (¥200 million in the previous year), and segment profit was ¥118.092 million (¥55.618 million in the previous year).」

    In the DTx product business, revenue from operations and segment profit exceeded the previous year, mainly due to the recognition of an upfront payment and development milestone payment from Aska Pharmaceutical. The business secured a profit for the second consecutive year.
  4. FY2025-H1WorsenedAnnual report

    「As a result, no revenue from operations was recognized in this reporting segment during the current interim accounting period (¥200 million in the previous year), and the segment recorded a loss of ¥82.199 million (segment profit of ¥118.512 million in the previous year).」

    The DTx product business recognized ¥200 million in revenue and profit from upfront payments and other items in the previous year, but recorded no revenue from operations in the current interim accounting period and posted a segment loss of ¥82.199 million.
  5. FY2024WorsenedAnnual report

    「As a result, revenue from operations in this business was ¥200 million (¥400 million in the previous year), and segment profit was ¥55.618 million (¥256.989 million in the previous year).」

    The DTx product business continued to recognize revenue from upfront payments and milestone payments, but revenue from operations and segment profit were below the levels of the previous year.
  6. FY2024-Q3Continued recognition of contract revenue, but decreased year on yearAnnual report

    「As a result, revenue from operations for the cumulative third quarter of the current reporting period in this reporting segment was ¥200 million (¥400 million in the same quarter of the previous year), and segment profit was ¥88.458 million (segment profit of ¥308.028 million in the same quarter of the previous year).」

    The DTx product business continued to recognize revenue from upfront payments and milestone payments under agreements relating to a tinnitus treatment app and a therapeutic app in obstetrics and gynecology, but revenue from operations and segment profit were below the levels of the same quarter of the previous year.
  7. FY2024-Q2First statedAnnual report

    「As a result, revenue from operations for the cumulative second quarter of the current reporting period in this reporting segment was ¥200 million (none in the same quarter of the previous year), and segment profit was ¥118.512 million (a loss of ¥46.466 million in the same quarter of the previous year).」

    In the DTx product business, revenue from operations of ¥200 million and segment profit of ¥118.512 million were recognized, primarily reflecting upfront payments and other amounts under agreements relating to a tinnitus treatment app and a therapeutic app in obstetrics and gynecology.
Moved together

"Regulatory approval for a digital therapeutic app for insomnia and preparations for insurance reimbursement" moved the same way as this thread, in the same document, in 4 of its 11 moves.

444433★123456
  1. ★This thread
  2. 1Regulatory approval for a digital therapeutic app for insomnia and preparations for insurance reimbursement4×
  3. 2Stabilizing Platform Revenue by Increasing the Number of Companies That Continue to Use the Platform4×
  4. 3Increase in Business Revenue and Narrower Losses4×
  5. 4Uncertainty regarding approval and insurance coverage for therapeutic apps4×
  6. 5Commercialization through a sales partnership with Shionogi & Co., Ltd. for an app to treat insomnia3×
  7. 6Use of a clinical trial system implementing blockchain technology3×

★ 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 Susmed yet. It last moved in the Earnings presentation materials of 2026-08-07: "Mitigated".
News
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Recognition of Business Revenue and Profit from Contract Milestones in the DTx Product Business | SUSMED,Inc. (4263) | Komori