CrowdWorks : FY2022 1Q Presentation Material for IR
February 14, 2022 at 12:23 pm IST
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CrowdWorks, Inc.
Financial Results for FY2022 1Q
Securities code: TSE Mothers 3900
FY2022 1Q Results: Summary
FY2022 1Q Performance Highlights
Achieved net sales and gross profit growth of +30% YoY.
Quarterly operating profit (non-GAAP) also surpassed 300 million yen, +184% YoY, greatly exceeding past
record highs.
Entire Company
Matching Business
SaaS & New Business
GMV
4,598 million yen
4,552 million yen
45 million yen
(YoY +25.0%)
(YoY +24.5%)
Net sales
2,467 million yen
2,421 million yen
45 million yen
(YoY +35.7%)
(YoY +34.9%)
Gross profit
1,096 million yen
1,050 million yen
45 million yen
(YoY +34.0%)
(YoY +31.6%)
Operating profit
306 million yen
337 million yen
-33 million yen
(Non-GAAP)
(YoY +184.0%)
(YoY +116.4%)
Entire company operating profit (Non-GAAP) is the figure after adding back 2.6 million yen of stock compensation expense in 1Q from operating profit. As stock compensation expense is a company-wide expense, operating income (GAAP) figures are shown for each segment.
Results by segment are disclosed after offsetting transactions between consolidated companies.
Actual figures have been rounded down to the nearest million yen.
* Year-on-year comparisons are calculated in accordance with financial statement regulations, taking into account figures less than one million yen.
Progress vs Full-year Forecast
We achieved steady progress vs our forecast in the first quarter.
Top-line indicators exceeded more than 25% and Operating profit (non-GAAP) achieved 38.3% vs our forecast.
Progress toward our initial forecast
Initial Forecast
GMV
4,598 mil.
25.5-26.6%
17,268 18,053 mil.
Net Sales
2,467 mil.
26.6-27.8%
8,861 9,264 mil.
Gross Profit
1,096 mil.
26.3-27.5%
3,998 4,179 mil.
Operating
306 mil.
38.3%
800 mil.
Profit
(Non-GAAP)
Upward Revision of Full-year Forecast
Given the steady progress, we revised Net sales and Gross profit targets upward to 10 billion yen (+24.1% YoY) and 4.6 billion yen (+27.7% YoY), respectively.
Operating profit (Non-GAAP) revised upward to 850 million yen. Operating profit in excess of forecast will be reinvested for further growth (details provided later in this document)
Forecast
Upward Revision Forecast
GMV
17,268~18,053 million yen
18,500 million yen
(YoY +10.0~15.0%)
(YoY +17.9%)
Net sales
8,861~9,264 million yen
10,000 million yen
(YoY +10.0~15.0%)
(YoY +24.1%)
Gross profit
3,998~4,179 million yen
4,600 million yen
(YoY +10.0~15.0%)
(YoY +27.7%)
Operating profit
800 million yen
850 million yen
(Non-GAAP)
(YoY +29.3%)
(YoY +37.3%)
We disclose operating profit for the current fiscal year as non-GAAP operating profit. Non-GAAP operating profit is calculated as operating profit less stock-based compensation expenses.
In compliance with financial statement regulations, actual figures are rounded down to the nearest whole number.
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CrowdWorks Inc. published this content on 14 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 February 2022 06:52:08 UTC.
CrowdWorks Inc. is a Japan-based company mainly engaged in the crowdsourcing business. The Company operates through five business segments. The Direct Matching segment is engaged in the operation of crowdsourcing platform CrowdWorks for directly matching companies and individuals on the Internet. The Agent Matching segment is engaged in the provision of Crowdtech service and other crowdsourcing services for matching companies and individuals through dedicated staffs. The Business Solution segment is engaged in the provision of systems contract development service and other products and services at the request of companies. The FinTech segment is engaged in the development and provision of financial services for individuals, including ficle service that guarantees payment of individual rewards, and Wallet app that can use the rewards earned for consumption. The Investment Development segment is engaged in the minor investment and development of venture companies.