Revenue volatility driven by upfront license payments and development milestones
First written in FY2017. 14 of 17 entries say "Materialised", first in FY2020. Latest entry: FY2026.
SanBio moved to the "Worse" side of this theme in 2020, 5 years before the typical company in this theme (2025).
The whole theme swung hardest in 2019: 2 of 6 companies on the "Worse" side.
1 other company's latest entry also says "Materialised".
- FY2026MaterialisedAnnual report
「Business revenue –」
Under a revenue model dependent on upfront license payments, milestones and other items, business revenue was again zero for the fiscal year, with revenue volatility continuing to be reflected in the results. - FY2025MaterialisedAnnual report
「For the fiscal year, business revenue –」
Under a revenue model dependent on upfront payments, milestones and other items, business revenue was again zero for the fiscal year, with revenue volatility continuing to be reflected in the results. - FY2024MaterialisedAnnual report
「For the fiscal year, business revenue –」
Under a revenue model dependent on upfront payments, milestones and other items, business revenue was again zero for the fiscal year, with revenue volatility continuing to be reflected in the results. - FY2024-Q2MaterialisedAnnual report
「Business revenue – – –」
Under a revenue model dependent on upfront payments, milestones and other items, business revenue was again zero for the six-month period ended the second quarter, with revenue volatility continuing to be reflected in the results. - FY2024-Q1MaterialisedAnnual report
「Business revenue – –」
Under a revenue model dependent on upfront payments, milestones and other items, business revenue was again zero for the three-month period ended the first quarter, with revenue volatility continuing to be reflected in the results. - FY2023MaterialisedAnnual report
「Business revenue is significantly affected by whether upfront payments received when licensing out pipelines currently under development, including SB623, and milestone payments linked to development progress are received. Accordingly, business revenue and net income (loss) may fluctuate depending on the timing and amount of revenue recognized.」
Under a revenue model dependent on upfront payments, milestones and other items, business revenue was again zero for the fiscal year, with the risk of revenue volatility continuing to be reflected in the results. - FY2023-Q3MaterialisedAnnual report
「Business revenue – –」
Under a revenue model dependent on upfront payments, milestones and other items, business revenue was again zero for the nine-month period ended the third quarter, with revenue volatility continuing to be reflected in the results. - FY2023-Q2MaterialisedAnnual report
「Business revenue – –」
Under a revenue model dependent on upfront payments, milestones and other items, business revenue was again zero for the six-month period ended the second quarter, with the risk of revenue volatility continuing to be reflected in the results. - FY2022MaterialisedAnnual report
「Business revenue – –」
Under a revenue model dependent on upfront payments, milestones and other items, business revenue was again zero for the fiscal year, with the risk of revenue volatility continuing to be reflected in the annual results. - FY2021-Q3MaterialisedAnnual report
「Business revenue (¥ thousand) 424,344 – 447,226」
Under a revenue model dependent on upfront payments, milestones and other items, business revenue for the nine-month period ended the third quarter fell from ¥424 million in the same period of the previous fiscal year to zero, with revenue volatility reflected in the results. - FY2021-Q2MaterialisedAnnual report
「Business revenue (¥ thousand) 427,768 – 447,226」
Under a revenue model dependent on upfront payments, milestones and other items, business revenue for the six-month period ended the second quarter fell from ¥427 million in the same period of the previous fiscal year to zero, with revenue volatility reflected in the results. - FY2021-Q1MaterialisedAnnual report
「Business revenue (¥ thousand) 189,395 – 447,226」
Under a revenue model dependent on upfront payments, milestones and other items, business revenue for the quarter fell from ¥189 million in the same period of the previous fiscal year to zero, with revenue volatility reflected in the results. - FY2020MaterialisedAnnual report
「Business revenue for the fiscal year was ¥447 million (¥741 million in the same period of the previous fiscal year).」
Under a revenue model dependent on upfront payments, milestones and other items, business revenue fell 39.7% year on year, with revenue volatility reflected in the results. - FY2019RestatedAnnual report
「The business revenue of our group is significantly affected by upfront payments received when licensing out pipelines currently under development, including SB623, and milestone payments linked to development progress. Accordingly, business revenue and net income (loss) may fluctuate depending on the timing and amount of revenue recognized.」
The risk of revenue volatility due to the timing and amount of upfront payments and milestone payments recognized has been reconfirmed. - FY2017First statedAnnual report
「The business revenue of our group is significantly affected by upfront payments received when licensing out pipelines currently under development, including SB623, and milestone payments linked to development progress. Accordingly, business revenue and net income (loss) attributable to owners of the parent may fluctuate depending on the timing and amount of revenue recognized.」
The company discloses that revenue and earnings may fluctuate depending on the timing and amount of upfront license payments and development milestones recognized.