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

Q2 Financial Results Presentation Materials for the Fiscal Year Ending March 2027

For the six months ended Q2 of the fiscal year ending March 2027, revenue decreased 74.1% year on year, and losses at each profit level widened due to the recognition of impairment losses. At the same time, progress was reported on future missions, including the selection of ispace-U.S. as a NASA CLPS 2 contract awardee, expanded collaboration with KDDI, and completion of the M3 preliminary design review.

Worth reading
59In focus
Scored from 5 of 6 sections
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
-74.1
Year-on-year change in net sales (%)
Wording
Avoiding a definitive answer
How definitive the wording is.

Contents of this document

Financial results presentationSecond quarter of the fiscal year ending March 20275 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales569 Millions of yen-74.1%
Operating profit-8,853 Millions of yen
Ordinary income-10,445 Millions of yen
Net income-10,451 Millions of yen
Selling, general and administrative expenses3,646 Millions of yen
Results for the three months of the current quarter
Project revenue
400 Millions of yen
Full-year earnings forecast
Project revenue
9,000 Millions of yen
Net Sales
3,300 Millions of yen
Selling, General and Administrative Expenses
11,700 Millions of yen
Operating profit (loss)
-17,700 Millions of yen
Ordinary profit or loss
-13,000 Millions of yen
Net income (loss) for the current fiscal year
-13,000 Millions of yen
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。
Project revenue18.6%
Net Sales17.2%
Selling, General and Administrative Expenses31.2%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Impairment losses associated with the integration of the lander models and the engine changeApproximately ¥3.7 billion
  • Full-scale development progress for Mission 4 and receipt of subsidiesRevenue recognition is expected to progress in the second half
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • AssumptionMission 3 launch timing
    FigureExpected within 2028
  • AssumptionMission 4 launch timing
    FigureScheduled for 2029
  • AssumptionMission 2.5 launch timing
    FigureAs early as 2027
New initiatives
  • Selection of ispace-U.S. as a NASA CLPS 2 IDIQ contract awardee
  • Expanded collaboration with KDDI toward building a lunar communications network and jointly providing services
  • Execution of MOUs with Nammo and Ariane concerning continued procurement of propulsion systems
  • Selection for JAXA's conceptual design of a lunar solar power tower
Key KPIsA metric the company considers important as a management benchmark.
  • Expected revenue recognition from already contracted sales and subsidies (over 4 years)¥470 100 million
  • Expected revenue recognition from already contracted sales and subsidies (over 5 years)¥507 100 million
  • In-house lunar-orbiting satellites planned for deployment by 20305 units
  • Number of CLPS 2 IDIQ contract awardees8 companies
  • Estimated number of lunar transportation missions under CLPS 2More than 70
Market Size / Share
Market for services utilizing lunar-orbiting satellites and other assetsAt least ¥450 billion annually in the 2040s
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredSecond quarter of the fiscal year ending March 2027
Net Sales569 Millions of yen (YoY -74.1%)
Operating profit-8,853 Millions of yen
Ordinary income-10,445 Millions of yen
Net income-10,451 Millions of yen
Selling, general and administrative expenses3,646 Millions of yen
Results for the three months of the current quarterProject revenue 400 Millions of yen
Full-year earnings forecastProject revenue 9,000 Millions of yen / Net Sales 3,300 Millions of yen / Selling, General and Administrative Expenses 11,700 Millions of yen / Operating profit (loss) -17,700 Millions of yen / Ordinary profit or loss -13,000 Millions of yen / Net income (loss) for the current fiscal year -13,000 Millions of yen
Progress against full-year forecastProject revenue 18.6% / Net Sales 17.2% / Selling, General and Administrative Expenses 31.2%
Breakdown of Factors Affecting the ChangeFactors Impairment losses associated with the integration of the lander models and the engine change / Amount Approximately ¥3.7 billion, Factors Full-scale development progress for Mission 4 and receipt of subsidies / Amount Revenue recognition is expected to progress in the second half
Key KPIsIndicator name Expected revenue recognition from already contracted sales and subsidies (over 4 years) / Value ¥470 100 million / Year on year against the same period last year Not disclosed, Indicator name Expected revenue recognition from already contracted sales and subsidies (over 5 years) / Value ¥507 100 million / Year on year against the same period last year Not disclosed, Indicator name In-house lunar-orbiting satellites planned for deployment by 2030 / Value 5 units / Year on year against the same period last year Not disclosed, Indicator name Number of CLPS 2 IDIQ contract awardees / Value 8 companies / Year on year against the same period last year Not disclosed, Indicator name Estimated number of lunar transportation missions under CLPS 2 / Value More than 70 / Year on year against the same period last year Not disclosed
Assumptions Underlying the Business OutlookAssumption Mission 3 launch timing / Figure Expected within 2028, Assumption Mission 4 launch timing / Figure Scheduled for 2029, Assumption Mission 2.5 launch timing / Figure As early as 2027
Market Size / ShareMarket for services utilizing lunar-orbiting satellites and other assets At least ¥450 billion annually in the 2040s
New initiativesSelection of ispace-U.S. as a NASA CLPS 2 IDIQ contract awardee, Expanded collaboration with KDDI toward building a lunar communications network and jointly providing services, Execution of MOUs with Nammo and Ariane concerning continued procurement of propulsion systems, Selection for JAXA's conceptual design of a lunar solar power tower
Items this document does not state (16)
Gross Profit MarginOperating profit marginSelf-assessment against the planSegment 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.

The previous fiscal year included revenue from Mission 2 and the former Mission 5, whereas this fiscal year, revenue associated with progress in the development of Mission 4 has been deferred to the second half. On the profit side, the company explained that the primary factor was the recognition in cost of sales in the first quarter of approximately ¥3.7 billion in impairment losses associated with the integration of the lander models and the engine change.

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Q2 Financial Results Presentation Materials for the Fiscal Year Ending March 2027 | ispace,inc. (9348) timely disclosure | Komori