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Financial results presentation9348ispace,inc.Information and Communications, Services and Others

Q1 Earnings Presentation Materials for the Fiscal Year Ending March 2027

In the first quarter of the fiscal year ending March 2027, revenue fell sharply because there was no revenue from the previous year's Mission 2 and former Mission 5. An impairment charge of approximately ¥3.7 billion related to the integration of the lander model and engine changes in the US business was recorded in cost of sales, resulting in wider operating and net losses. Meanwhile, progress has been made on the development of M3 and M4 and on securing subsidies and contracts.

Worth reading
50Recurring
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
-85.5
Year-on-year change in revenue (%)
Wording
Avoiding a definitive answer
How definitive the wording is.

Contents of this document

Financial results presentationFirst quarter of the fiscal year ending March 20276 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥168 million-85.5%
Operating profit¥-6,397 million
Ordinary income¥-6,335 million
Net income¥-6,336 million
Selling, general and administrative expenses¥1,770 million
Results for the three months of the current quarter
Net Sales
¥168 million
Operating profit (loss)
¥-6,397 million
Ordinary profit or loss
¥-6,335 million
Net income (loss) for the current fiscal year
¥-6,336 million
Full-year earnings forecast
Project revenue
¥9,000 million
Net Sales
¥3,300 million
Gross profit
¥-6,000 million
Selling, General and Administrative Expenses
¥11,700 million
Operating profit (loss)
¥-17,700 million
Ordinary profit or loss
¥-13,000 million
Net income (loss) for the current fiscal year
¥-13,000 million
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 Sales5.1
Selling, General and Administrative Expenses15.1
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The current period is a transitional period, as initially planned
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Impairment in the US businessApproximately ¥3.7 billion
Decrease in R&D expenses following completion of M2-802
Salaries and allowances-59
Other SG&A expenses155
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
M2.5 launchAs early as 2027
M3 launchPlanned for 2028
M4 launchScheduled for 2029
Starship launchScheduled for 2030
New initiatives
  • H3 launch transportation service contract with Mitsubishi Heavy Industries
  • M3 payload transportation service contract with JALUX
  • MAGPIE Phase 2 contract with ESA
  • Launch of a mobile cargo system using Starship
  • Joint study with KDDI of communications and positioning services using lunar-orbiting satellites
Key KPIsA metric the company considers important as a management benchmark.
  • Expected revenue from existing contracts and subsidies over the next 4 years460 Hundreds of millions of yen
  • Expected revenue from existing contracts and subsidies over 5 years513 Hundreds of millions of yen
  • Number of company-owned lunar-orbit satellites deployed by 20305 units
  • Market for lunar-orbit satellite and related services in the 2040s¥4,500 100 million/year
Market Size / Share
Public- and private-sector investment in Japan's lunar exploration and low-Earth-orbit technologies¥5.6 trillion
Market for lunar-orbit satellite and related services¥4,500 trillion
Market unit¥100 million/year
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending March 2027
Net Sales¥168 million (YoY -85.5%)
Operating profit¥-6,397 million
Ordinary income¥-6,335 million
Net income¥-6,336 million
Selling, general and administrative expenses¥1,770 million
Results for the three months of the current quarterNet Sales ¥168 million / Operating profit (loss) ¥-6,397 million / Ordinary profit or loss ¥-6,335 million / Net income (loss) for the current fiscal year ¥-6,336 million
Full-year earnings forecastProject revenue ¥9,000 million / Net Sales ¥3,300 million / Gross profit ¥-6,000 million / Selling, General and Administrative Expenses ¥11,700 million / Operating profit (loss) ¥-17,700 million / Ordinary profit or loss ¥-13,000 million / Net income (loss) for the current fiscal year ¥-13,000 million
Progress against full-year forecastNet Sales 5.1 / Selling, General and Administrative Expenses 15.1 / Other Not disclosed
Self-assessment against the planThe current period is a transitional period, as initially planned
Breakdown of Factors Affecting the ChangeImpairment in the US business Approximately ¥3.7 billion / Decrease in R&D expenses following completion of M2 -802 / Salaries and allowances -59 / Other SG&A expenses 155
Key KPIsIndicator name Expected revenue from existing contracts and subsidies over the next 4 years / Value 460 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator name Expected revenue from existing contracts and subsidies over 5 years / Value 513 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator name Number of company-owned lunar-orbit satellites deployed by 2030 / Value 5 units / Year on year against the same period last year Not disclosed, Indicator name Market for lunar-orbit satellite and related services in the 2040s / Value ¥4,500 100 million/year / Year on year against the same period last year Not disclosed
Assumptions Underlying the Business OutlookM2.5 launch As early as 2027 / M3 launch Planned for 2028 / M4 launch Scheduled for 2029 / Starship launch Scheduled for 2030
Market Size / SharePublic- and private-sector investment in Japan's lunar exploration and low-Earth-orbit technologies ¥5.6 trillion / Market for lunar-orbit satellite and related services ¥4,500 trillion / Market unit ¥100 million/year
New initiativesH3 launch transportation service contract with Mitsubishi Heavy Industries, M3 payload transportation service contract with JALUX, MAGPIE Phase 2 contract with ESA, Launch of a mobile cargo system using Starship, Joint study with KDDI of communications and positioning services using lunar-orbiting satellites
Items this document does not state (15)
Gross Profit MarginOperating profit marginSegment resultsUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual 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 from Mission 2 and former Mission 5 (CP-12) was recorded in the same period of the previous fiscal year, whereas the current fiscal year is a transitional period in which revenue is being recognized progressively in line with progress on M3 and M4. In addition, an impairment charge of approximately ¥3.7 billion arising from the integration of the lander model and engine changes in the US was recorded in cost of sales.

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Q1 Earnings Presentation Materials for the Fiscal Year Ending March 2027 | ispace,inc. (9348) timely disclosure | Komori