Worth reading
68In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
10
% (current basic subscription fee)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFiscal year ending December 2026, third quarter11 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥3,067 millions+24.0%
Operating profit¥1,454 millions+21.6%
Operating profit margin47.4 %
Results for the three months of the current quarterCloud revenue: ¥910 million; BPaaS revenue: ¥162 million; contracted stations: 3,843; average monthly revenue per customer: ¥94.1 thousand; revenue churn rate: 0.10%; market share: 19.2%; company-wide gross margin: 76.8%; cloud gross margin: 79.0%; BPaaS gross margin: 63.9%
Full-year earnings forecast
Net Sales
¥4,277 millions
Operating profit
¥1,927 millions
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales71.7 %
Operating profit75.5 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Operating profit and operating margin are tracking above the full-year forecast. Cloud revenue per customer is slightly below expectations, but sales initiatives are progressing smoothly.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Change in operating income+¥258 million year on year
Cloud Gross Profit+¥316 million
BPaaS and Other Gross Profit+¥71 million
Personnel Expenses-79
Advertising expenses-22
Research and Development Expenses-1
Other-25
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Cloud revenue per customer is expected to be slightly below expectations. BPaaS gross margin is expected to be in the 64% range for the full year, and 1–2 people are expected to join during the period. The company aims to begin billing for iBow Board Pro for 200 STs from January 2027, with the regular price scheduled to be ¥50,000/ST from July 2027.New initiatives
- From January 2027, the iBow basic subscription fee will be revised to 110% of the current fee
- iBow Board Pro launched in October 2026, with billing beginning in January 2027
- Launched the recruitment support service "Kaedoki"
- The customer support structure changed to one centered on consulting support, customer success functions and BPaaS functions
- Promoting AI-assisted response generation and the development of an internal AI claims system
Key KPIsA metric the company considers important as a management benchmark.
- Number of contracted stations3,843 stationsYear-on-year (%)13.5
- Number of Active Stations3,695 stations
- Average monthly revenue per customer¥94.1 thousandYear-on-year (%)6.9
- Revenue churn rate0.1 %
- Share (penetration rate)19.2 %
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Number of contracted stations¥3,843 thousand
Number of Active Stations¥3,695 thousand
Average monthly revenue per customer¥94.1 thousand
Segment results
Cloud
Net Sales¥2,617 millions
Year on year against the same period last year+22.4%
Gross Profit MarginApproximately 79%
BPaaS
Net Sales¥440 millions
Year on year against the same period last year+38.6%
Gross Profit Margin63.9% (third-quarter period)
Other
Net Sales¥9 millions
Year on year against the same period last year-47.5%
Financial targets
Equity ratio: 85.1% at the end of the third quarter of the fiscal year ending December 2026; target: Not disclosedMarket Size / Share
361,000 medical and nursing-care facilities; more than 2.5 million targeted medical professionals and others
Share19.2
Number of employees
131 people
Year-end forecastAround 140 people
Change during the period11 more people than in the year-earlier period
Acquisition of treasury shares
Approximately ¥300 million
PeriodConducted in the first half of 2026
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Fiscal year ending December 2026, third quarter |
| Net Sales | ¥3,067 millions (YoY +24.0%) |
| Operating profit | ¥1,454 millions (YoY +21.6%) |
| Operating profit margin | 47.4 % |
| Results for the three months of the current quarter | Cloud revenue: ¥910 million; BPaaS revenue: ¥162 million; contracted stations: 3,843; average monthly revenue per customer: ¥94.1 thousand; revenue churn rate: 0.10%; market share: 19.2%; company-wide gross margin: 76.8%; cloud gross margin: 79.0%; BPaaS gross margin: 63.9% |
| Full-year earnings forecast | Net Sales ¥4,277 millions / Operating profit ¥1,927 millions |
| Progress against full-year forecast | Net Sales 71.7 % / Operating profit 75.5 % |
| Self-assessment against the plan | Operating profit and operating margin are tracking above the full-year forecast. Cloud revenue per customer is slightly below expectations, but sales initiatives are progressing smoothly. |
| Segment results | Cloud Net Sales ¥2,617 millions / yoy_pct ¥22.4 millions / Gross Profit Margin Approximately 79% / BPaaS Net Sales ¥440 millions / yoy_pct ¥38.6 millions / Gross Profit Margin 63.9% (third-quarter period) / Other Net Sales ¥9 millions / yoy_pct ¥-47.5 millions |
| Breakdown of Factors Affecting the Change | Change in operating income +¥258 million year on year / Cloud Gross Profit +¥316 million / BPaaS and Other Gross Profit +¥71 million / Personnel Expenses -79 / Advertising expenses -22 / Research and Development Expenses -1 / Other -25 |
| Key KPIs | Indicator name Number of contracted stations / Value 3,843 stations / Year-on-year (%) 13.5 stations, Indicator name Number of Active Stations / Value 3,695 stations, Indicator name Average monthly revenue per customer / Value ¥94.1 thousand / Year-on-year (%) ¥6.9 thousand, Indicator name Revenue churn rate / Value 0.1 %, Indicator name Share (penetration rate) / Value 19.2 % |
| Unit price and quantity metrics | Number of contracted stations ¥3,843 thousand / Number of Active Stations ¥3,695 thousand / Average monthly revenue per customer ¥94.1 thousand |
| Number of employees | Value 131 people / Year-end forecast Around 140 people / Change during the period 11 more people than in the year-earlier period |
| Assumptions Underlying the Business Outlook | Cloud revenue per customer is expected to be slightly below expectations. BPaaS gross margin is expected to be in the 64% range for the full year, and 1–2 people are expected to join during the period. The company aims to begin billing for iBow Board Pro for 200 STs from January 2027, with the regular price scheduled to be ¥50,000/ST from July 2027. |
| Financial targets | Equity ratio: 85.1% at the end of the third quarter of the fiscal year ending December 2026; target: Not disclosed |
| Acquisition of treasury shares | Amount Approximately ¥300 million / Period Conducted in the first half of 2026 / Number of Shares Not disclosed |
| Market Size / Share | Market Size 361,000 medical and nursing-care facilities; more than 2.5 million targeted medical professionals and others / Share 19.2 % |
| New initiatives | From January 2027, the iBow basic subscription fee will be revised to 110% of the current fee, iBow Board Pro launched in October 2026, with billing beginning in January 2027, Launched the recruitment support service "Kaedoki", The customer support structure changed to one centered on consulting support, customer success functions and BPaaS functions, Promoting AI-assisted response generation and the development of an internal AI claims system |
Items this document does not state (12)
Ordinary incomeNet incomeGross profitSelling, general and administrative expensesNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsAnnual DividendPayout ratioCapital 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.The price revision is due to higher server costs in particular, resulting from the increase in users, enhanced functionality, increased usage and the weaker yen. Factors cited for the performance include the start of billing for AI-generated visit-route planning, winning statutory training contracts, new BPaaS contracts, the impact of higher sales and company-wide cost optimisation.
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.