V-CUBE, INC. FY23 Q1
Financial Results Briefing Document
V-cube, Inc.
May 12, 2023
Copyright © V-cube, Inc. All Rights Reserved.
Index
- FY23 Q1 Results Highlight
- FY23 Q1 Results by Segment
- Appendix
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- FY23 Q1 Results Highlight
- FY23 Q1 Results by Segment
- Appendix
Copyright © V-cube, Inc. All Rights Reserved. | 3 |
Financial Highlights
- Weaker than Q1 in FY22, when demand for the COVID 19 remained, but progressing toward achieving the full-year target
- Seasonality changed due to a decrease of the number of events in the pharma industry and changes in the business policies of major human resources clients in EV business
- In the U.S. business, Citigroup (finance), Light & Wonder (entertainment) have started using the service, and sales are steadily increasing. SONY and Lincoln Financial, which had delayed their start of use, also start using the service
FY23 Q1 Consolidated Financial Results (KPI)
Net Sales | Marginal Profit | Adjusted | Adjusted | |
EBITDA | Operating Profit | |||
(Sales minus variable costs) | ||||
3.01 | 1.89 | 0.45 | 0.21 | （billion Yen) |
・Adjusted EBITDA : Operating profit + Depreciation & Goodwill Amortization ± Income/Loss from Non-Recurring and Discontinued Operations
･･･Indicator of Recurring Cash Flow
・Adjusted Operating Profit : Operating profit + Goodwill Amortization ± Income/Loss from Non-Recurring and Discontinued Operations
･･･Indicator of Recurring Profitability excluding Goodwill Burden from M&A
Enterprise DX (EP) | Event DX (EV) | Third Place DX (TP) | |||||||||||
SDK Usage fee (recurring billing for last 12 months) | Event unit price | No. of Events | Quarterly | Cumulative | |||||||||
installed units | installed units | ||||||||||||
1.15 billion yen | 880 thousand yen | 849times | |||||||||||
2,525units | 19,295units | ||||||||||||
（38% increase） | （6% increase） | （22% decrease） | （9% decrease） | （84% increase） | |||||||||
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Highlights of Each Segment
FY23 Q1
Event DX Business (EV)
- Although the pharm industry declined in the number of events due to budget cuts as expected, high value-added events such as Metaverse will expand
- The U.S. market is on the path to renewed profitability and growth with new major clients such as Citigroup and Light & Wonder beginning to use the service. SONY and Lincoln Financial, which had been struggling to start using the service, will finally begin using. Weak Q1 due to seasonality is in line with plan
Third Place DX Business (TP)
- Office (corporate) sales remained high in response to new working style (remote utilization). Booths for multiple users expanded
- Although some railroad installations were delayed, annual installations are expected to be on par with last year's level. There is a delay due to the delayed progress of some large projects
- New subscription model installations continue to be favorable, with 591 units in operation. Stock sales ratio is increasing Enterprise DX Business (EP)
- Business Growth (SDK, VCP): Subscription fees (Stock) reached a record high
- Hybrid Work (General Web conference): Steady growth of Zoom, Zoom Phone service will be launched
- Reskilling: LMS is in a growth phase again due to strong enterprise sales
FY23 Forecast
A year of structural reforms and investment for future growth in line with the situation, in response to changes in the after-Covid 19 social environment
The business forecast remain from 2/14 disclosure (sales 12.5-billion-yen, adjusted operating profit 1.04 billion yen)
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Disclaimer
V-cube Inc. published this content on 12 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2023 07:42:06 UTC.
