Unerry, Inc. · TSE:5034
Unerry — Q2 FY2026 Earnings Presentation
60 slides from Unerry's earnings presentation, February 2026
Slide 1: Second Quarter Ending June 2026 Financial Results
unerry Inc. (TSE Growth Section: 5034) Second Quarter Ending June 2026 Financial Results Presentation Materials Feb 2026
Slide 2: Summary
Summary Double-Digit Growth & Profit Expansion Driven by 94% Recurring Revenue l Performance: Record Quarterly Net Sales of ¥1,155M (+23% YoY). 12-Month Rolling Revenue at ¥4,156M (+22% YoY) Financial showing sustained growth. Highlights l Revenue Base: Recurring Clients reach 171 companies(+35% YoY
Slide 3: INDEX
INDEX 1. About unerry 2. Q2 FY2026 Results 3. Business Highlights 4. Growth Strategy & Acquisition of Blogwatcher Appendix ┗ Financial Information ┗ Business Model © unerry, Inc. 3
Slide 4: Global Top 10 Big Data Company From Japan
1. About unerry Global Top 10 Big Data Company From Japan Developing Consumer Behavior Big Data Number of Active Users Worldwide※ with Location Data at its Core Unit: mil Surveys Facebook 3,070 Brand recognition NPS YouTube 2,530 ¥2.8T Purchase OOH WhatsAp p 2,000 850M ID-POS Credit Card ID Station
Slide 5: Data Volume Driving Non-Linear Growth Acceleration
1. About unerry Data Volume Driving Non-Linear Growth Acceleration 850M IDs creating "Data Gravity" to power 3 strategic engines and fuel non-linear growth Data Assets Product Innovation Market Expansion Generating a virtuous cycle where data scale Connected Services drive customer Becoming the esse
Slide 6: Chapter 2 of Growth: Entering the Scaling Phase
1. About unerry Chapter 2 of Growth: Entering the Scaling Phase Beyond steady accumulation, we will scale rapidly by expanding data, products, & markets Net Sales by Cohort for Recurring Customers ※1 Driving Leverage through Scale JPY mil. JPY mil. 3,726 Infrastructure 2025∕6 2024∕6 NRR※2 116% APRC※
Slide 7: INDEX
INDEX 1. About unerry 2. Q2 FY2026 Results 3. Business Highlights 4. Growth Strategy & Acquisition of Blogwatcher Appendix ┗ Financial Information ┗ Business Model © unerry, Inc. 7
Slide 8: Financial Highlights
2. Q2 FY2026 Results Financial Highlights Net Sales (Q2) 1,155 YoY Driving double-digit growth and profit expansion ¥ million +23 % across all services, anchored by a solid foundation with 94% recurring revenue # of Recurring Customers (※) l Net Sales – Sustaining double-digit growth across all serv
Slide 9: Net Sales: 12-Month Rolling Revenue
2. Q2 FY2026 Results Net Sales: 12-Month Rolling Revenue ※ l 12-Month Rolling Revenue reached ¥4,156 million (+22% YoY), ensuring consistent high growth by excluding seasonality. l All services maintained double-digit growth, led by a +25% increase in Analysis, resulting in a well-balanced expansion
Slide 10: Net Sales: Recurring Customer Metrics
2. Q2 FY2026 Results Net Sales: Recurring Customer Metrics ※ l Highly stable business model with recurring revenue accounting for 94% of net sales. l Recurring customers steadily increased to 171 (+44 YoY) while maintaining an annual ARPC of ¥23 million. Quarterly Trend JPY mil., companies 27 Recuri
Slide 11: Operating Income & Operating Margin
2. Q2 FY2026 Results Operating Income & Operating Margin l Q2 operating profit grew to ¥65 million (+17% YoY), driven by the expansion of net sales and gross profit. l Post Q1 strategic investments, Q2 achieved efficient cost allocation, indicating a smooth transition to the "profit recovery phase"
Slide 12: Net Sales: By Service
2. Q2 FY2026 Results Net Sales: By Service l Q2 net sales reached ¥1,155 million (+23% YoY), sustaining a strong growth trend. l Growth led by One to One Solution (+51% YoY) and Retail DX via new and cross-sell (deeper engagement) expansion. Quarterly Trend JPY mil. YoY ● Analysis +23% Significant i
Slide 13: Gross Margin by Service
2. Q2 FY2026 Results Gross Margin by Service (Net Sales – Direct Costs) ※ l Gross profit margin decreased 2pt YoY. While Analysis remained a core profit pillar (86% GPM), we flexibly utilized external resources to meet surging demand for large-scale One to One Solution projects. Quarterly Trend 100%
Slide 14: COGS
2. Q2 FY2026 Results COGS l Direct cost ratio rose 2pts YoY to 56% due to sales mix changes & outsourcing One-to-One services. l Indirect cost ratio held at 11%, as infrastructure cost controls successfully offset significant data growth. Quarterly Trend JPY mil. 56% 54% 42% 50% 53% 54% 41% 52% 53%
Slide 15: SG&A
2. Q2 FY2026 Results SG&A l Efficient cost allocation achieved in Q2, following strategic marketing and hiring investments in Q1. l SG&A ratio improved 1pt YoY as cost increases were kept below the revenue growth rate. Quarterly Trend JPY mil. ● Service fee and compensation Increased server costs, i
Slide 16: Number of Employees
2. Q2 FY2026 Results Number of Employees l Headcount rose 24% YoY to 103, with front-loaded hiring across all roles as planned to secure talent for future growth. l Continue hiring to strengthen our foundation for expansion, while monitoring the impact of M&A from H2 onward. Quarterly Trend YoY JPY
Slide 17: Progress against Full Year Forecast
2. Q2 FY2026 Results Progress against Full Year Forecast l Net Sales reached ¥2,164 million (43% progress), on track with H2-weighted plan under the new sales structure. l Profit progress at 10–13% due to Q1 investments; H2-weighted plan remains on track for full-year targets. Net Sales, Income, & R
Slide 18: INDEX
INDEX 1. About unerry 2. Q2 FY2026 Results 3. Business Highlights 4. Growth Strategy & Acquisition of Blogwatcher Appendix ┗ Financial Information ┗ Business Model © unerry, Inc. 18
Slide 19: Performance by Business Segment
3. Business Highlights Performance by Business Segment Business Net Sales YoY Q2 Evaluation & Outlook Retail & Food Service l Handover to the new structure is complete, with new acquisitions and cross-selling to existing clients increasing as planned. Retail DX Increased as l Expanding adoption of t
Slide 20: Expanding Adoption of Sales Simulator for Retail and Restaurants
3. Business Highlights Expanding Adoption of Sales Simulator for Retail and Restaurants A breakthrough solution leveraging unerry’s data to build sales simulator at less than one-tenth the cost of traditional methods. Leverages Behavioral Big Data Feature Analysis via "unerry AI" Sales Simulation aa
Slide 21: Expanding Tourism Promotion Case Studies
3. Business Highlights Expanding Tourism Promotion Case Studies Shimane Prefecture Izumo City l Verified ad impact via location data & surveys. l Delivered location-based ads and measured actual visits l Multiple theme exposure boosted brand awareness & from website visitors. visitation intent. l Im
Slide 22: Growth of Inbound Services
3. Business Highlights Growth of Inbound Services Overall Structure (Market & Data Integration) 3rd Location-Based Award 2025 Excellence Award Global Service unerry Inc. 「Don Quijote walking-type signage x Japanese Companies Overseas Companies Inbound location data」 (2) Current Main Overseas Service
Slide 23: Ranked 42nd in Technology Fast 2025 Japan
3. Business Highlights Ranked 42nd in the Technology Fast 50 2025 Japan Growth Rankings Recorded 79.4% revenue growth over the past three fiscal periods and received the award for the sixth consecutive year since FY2020 © unerry, Inc. 23
Slide 24: Google Cloud Partner All Certification Holders 2025 Award
3. Business Highlights Received the Google Cloud Partner All Certification Holders 2025 award Received the award for the technical expertise of infrastructure engineers who can optimize infrastructure costs even as data volume increases © unerry, Inc. 24
Slide 25: INDEX
INDEX 1. About unerry 2. Q2 FY2026 Results 3. Business Highlights 4. Growth Strategy & Acquisition of Blogwatcher Appendix ┗ Financial Information ┗ Business Model © unerry, Inc. 25
Slide 26: KGI and Business Breakdown of the Mid-Term Growth Strategy
4. Growth Strategy & Acquisition of Blogwatcher KGI and Business Breakdown of the Mid-Term Growth Strategy Grow Retail DX & 3 new businesses : JPY 10 billion net sales with CAGR +36% Net Sales Trend ● 4. Global Business Retail, Dining & Sports (Unit: million yen) Expansion of cross-border, inbound,
Slide 27: FY2026 Key Initiatives
4. Growth Strategy & Acquisition of Blogwatcher FY2026 Key Initiatives Accelerating growth curve : Leveraging products, sales force, and capital Management Goals Strategic Pillars FY2026 Key Initiatives 1. Data Scaling Law Strategy Mid-term Competitive Advantage Build a platform where expanding the
Slide 28: Accelerating Growth Trajectory by Leveraging Capital Strength
4. Growth Strategy & Acquisition of Blogwatcher Accelerating Growth Trajectory by Leveraging Capital Strength Driving M&A strategy centered on three pillars: Data, Products, and Partners Markets Retail & Foodservice CPG Brands Real Estate / Government Overseas / Cross-Border Sales Partners operating
Slide 29: Background of Data Scaling Law Strategy
4. Growth Strategy & Acquisition of Blogwatcher Background of Data Scaling Law Strategy Significant improvement in customer insight & AI utilization through higher data volume What is Data Scaling Law Improved accuracy of consumer behavioral data Value Capable of grasping major Capable of detailed g
Slide 30: AI Vision: Simulating Global Behavior
4. Growth Strategy & Acquisition of Blogwatcher AI Vision Our goal is a "World Model" that reproduces the real-world using data and AI AI-ready World Model Infrastructure that Behavioral Big Data （Ambient Intelligence） understands, predicts, & designs the real-world behavior • All behavioral data sp
Slide 31: Acquisition of Shares in Blogwatcher Inc.
4. Growth Strategy & Acquisition of Blogwatcher Acquisition of Shares in Blogwatcher Inc. M&A l Acquiring 100% shares of Blogwatcher from Recruit and Dentsu Group (Scheduled for May 2026). Overview & l Establishing a data infrastructure processing 1 trillion logs annually by merging both companies'
Slide 32: Acquisition of Shares in Blogwatcher Inc. | Structure & Schedule
4. Growth Strategy & Acquisition of Blogwatcher Acquisition of Shares in Blogwatcher Inc. | Structure & Schedule Structure Schedule Acquisition of Shares July 24, 2024: Business alliance to enhance media value and support urban development Building mutual Recruit Dentsu Group unerry understanding an
Slide 33: Acquisition of Shares in Blogwatcher Inc. | About
4. Growth Strategy & Acquisition of Blogwatcher Acquisition of Shares in Blogwatcher Inc. | About About Financial Results Company Name Blogwatcher Inc. JPY mil 2023∕6 2024∕6 2025∕6 Location 5F Sumitomo Fudosan Tamachi Building, 3-12-7 Shibaura, Minatoku, Tokyo Net Sales 1,881 1,923 2,075 Representat
Slide 34: Acquisition of Shares in Blogwatcher Inc. | Business
4. Growth Strategy & Acquisition of Blogwatcher Acquisition of Shares in Blogwatcher Inc. | Business Purpose Empowering people and society through data-driven choices and actions Business Leveraging Solution development through domain-specific data Location data collection and Acquired Data selectio
Slide 35: Acquisition of Shares in Blogwatcher Inc. | Synergies
4. Growth Strategy & Acquisition of Blogwatcher Acquisition of Shares in Blogwatcher Inc. | Synergies Elevating the location-based big data business to a global standard unerry Blogwatcher Synergies Significant improvement in analytical • Consumer behavior big data centered on Data • Top player in G
Slide 36: Acquisition of Shares in Blogwatcher Inc. | Future Initiatives
4. Growth Strategy & Acquisition of Blogwatcher Acquisition of Shares in Blogwatcher Inc. | Future Initiatives Enhance growth certainty centered on Smart Cities, driven by synergies Net Sales Projection FY2027 Outlook (Unit: million yen) Full-year consolidation starts from FY2027. Financial forecast
Slide 37: INDEX
INDEX 1. About unerry 2. Q2 FY2026 Results 3. Business Highlights 4. Growth Strategy & Acquisition of Blogwatcher Appendix ┗ Financial Information ┗ Business Model
Slide 38: Income Statement (Accounting Period)
Appendix _ Financial Information % Change % Change (Unit: Thousands of yen) 2025/6 Q2 2026/6 Q1 2026/6 Q2 Income Statement YoY QoQ (Accounting Period) Sales 938,306 1,008,986 1,155,356 +23.1% +14.5% Cost of sales 608,892 651,595 764,634 +25.6% +17.3% Gross profit 329,414 357,390 390,721 +18.6% +9.3%
Slide 39: Income Statement (Accrued Period)
Appendix _ Financial Information (Unit: Thousands of yen) 2025/6 Q2 2026/6 Q2 % Change Change Income Statement (Accrued Period) Sales 1,733,861 2,164,342 +24.8% +430,480 Cost of sales 1,127,077 1,416,230 +25.7% +289,152 Gross profit 606,783 748,112 +23.3% +141,328 Gross profit ratio 35.0% 34.6% -0.4
Slide 40: Balance Sheet
Appendix _ Financial Information (Unit: Thousands of yen) 2025/6 2026/6 Q2 Change Balance Sheet Current assets 2,391,539 2,448,867 +57,328 └ Cash and deposits (Cash and deposits, securities) 1,831,518 1,724,753 -106,765 └ Notes and accounts receivable - trade and 499,286 592,817 +93,531 contract ass
Slide 41: Cash Flow
Appendix _ Financial Information Cash Flow (Unit: Thousands of yen) 2025/6 Q2 (Accrued Period) 2026/6 Q2 (Accrued Period) Cash flow from operating activities 23,350 -51,517 Cash flow from investment activities -2,252 -57,649 Cash flow from financial activities 301 2,285 Effect of exchange rate chang
Slide 42: INDEX
INDEX 1. About unerry 2. Q2 FY2026 Results 3. Business Highlights 4. Growth Strategy & Acquisition of Blogwatcher Appendix ┗ Financial Information ┗ Business Model
Slide 43: About New Leadership Group
Appendix_ Business Model About New Leadership Group Funder and CEO Executive Vice President and COO Hidetoshi Uchiyama Shigejiro Suzuki Company unerry Inc. Name Completed University of Michigan, Ann Arbor 1999 Andersen Consulting 2000 PricewaterhouseCoopers Consulting (currently Accenture) 2002 A.T.
Slide 44: Mission and Vision
Appendix_ Business Model Mission and Vision Our aim “A Global Leader” of a data ecosystem company that fuses the real and digital Mission Vision Creating a comfortable future unerry, everywhere with data © unerry, Inc. 44
Slide 45: Platform of 850 Million Digital Twin IDs
® A platform that transforms the real and digital actions of daily life into data through 850 million Digital Twin IDs, unerryが実現している世界 supporting DX across industries and regions. Retail, Restaurant, Brands Behavior Data AI Service Digital Space Based on in-store visit data from all Store Visit kin
Slide 46: Building Consumer Behavior Big Data that Fuses Digital and Real
Appendix_ Business Model Building Consumer Behavior Big Data that Fuses Digital and Real Location Big Data Consumer Behavior Big Data By combining location big data with diverse consumer data, Comprehensive location data capturing both outdoor unerry realizes integrated customer insights that bridge
Slide 47: Key Metrics of Beacon Bank
Appendix_ Business Model Key Metrics of Beacon Bank (June 2024 → June 2025) # of User IDs Annual Data Signals Reached an overwhelming scale including 240M in Japan Ultra-big data that surpasses large enterprises 420 million 850 million 1.0 trillion 1.9 trillion (Active user IDs as of June 2025 acqui
Slide 48: Business Model
Appendix_ Business Model Business Model Deploying 3 core services optimized for industry issues, powered by big data Markets Retail & Foodservice CPG Brands Real Estate / Government Overseas / Cross-Border Competitive Analysis Decarbonization Sales Forecasting Maximize In-store Digital Flyer Custome
Slide 49: Our Service
Appendix_ Business Model Our Service Analyze, advertise, personalize. Cover all DX needs. Big data on consumer behavior AI Analysis with 850 million IDs Profiling Real Transportation/Situat Prediction of store AI BRAIN Recommendations ion Estimation likelihood (1) Analysis (2) Advertisement (3) One
Slide 50: Business Model: Recurring Revenue Model
Appendix_ Business Model Business Model: Recurring Revenue Model Analysis and one-to-one services generate annual recurring contracts, while advertisement drives scalable revenue tied to store count. (1) Analysis Cross-Selling (2) Advertisement Cross-Selling (3) One to One Solution Key Metrics (FY J
Slide 51: Business Model: Customer ARPC can grow 130x
Appendix_ Business Model Business Model: Customer ARPC can grow 130x Starting small, upselling (store expansion) and cross-selling (ads & One-to-One) significantly raise customer lifetime value. Case Study: Growth Path of a Retail Chain with 250 Stores Expansion to app / SNS based one to one deliver
Slide 52: Challenges We Are Solving
Appendix_ Business Model Challenges We Are Solving Digital 9.8% 90% of Economic Activity is through the Real World Consumption Much of the real world remains undigitized, making it unclear who is where Real and what needs exist. 90.2% *Reiwa 6th Year Market Survey on E-commerce (Ministry of Economy,
Slide 53: Japan Has the Greatest Potential for Huge Transformation
3.8 5.8 2017 4.0 5.8 2018 3.5 5.9 2019 3.2 6.6 Appendix_ Business Model 2020 Source：IMD World Competitiveness Yearbook 2025 3.3 6.2 2021 3.2 6.6 2022 3.8 6.1 2023 4.2 6.2 2024 4.0 6.8 2025 Trends in major countries on a 10-point scale Italy Korea China France United Canada Australia Kingdom Germany
Slide 54: The World Enabled by unerry
Appendix_ Business Model The World Enabled by unerry Location-based Services Visualizing Seamless Low SALE NEWS Low COUPON STAMP PUSH High High Low Mid Mid High Personalized coupons upon store entry Trade area analysis Less irrelevant flyers and direct mails Instant news updates at the station Foot
Slide 55: unerry's Staff and Service powers clients' sales
Appendix_ Business Model The World Enabled by unerry lDemand & production forecasting l Footfall & flow analysis Shopping Mall Automobile Dealer Beer Brand lGPS-based farming l Congestion visualization App user sales Vehicle sales Daily sales 10%⬆ 25%⬆ 33%⬆ lSmart agriculture l Digitalization of sto
Slide 56: Patented Technology
Appendix_ Business Model Patented Technology Building a shared beacon network across companies’ beacons. Core technology patents secured in Japan, U.S., and China Patent in Japan, US Before Beacon Bank Solution and China*1 Retailer App Retailer Beacons Retailer App Retailer Beacons Map App Station B
Slide 57: Privacy Protection
Appendix_ Business Model Privacy Protection Managing and securing privacy by using only consented data without identifying individuals. Data Handling User Consent Third Party Certification • Location Data (ad IDs, dwell time, beacon • Data collected only from users who consent responses, timestamps)
Slide 58: Electricity, Gas, Water – and unerry
Appendix_ Business Model Toward Becoming Global Infrastructure as Essential as Electricity, Gas and Water Our position Social Mobile Platformers Media Retail & E-Commerce Media Careers Apps Foodservice Apps Services vertical silos vertical silos vertical silos vertical silos vertical silos 垂 直 ● ● ●
Slide 59: TAM: Markets Across Industries Continue to Show Explosive Growth Potential
Appendix_ Business Model TAM: Markets Across Industries Continue to Show Explosive Growth Potential Retail DX Market Retail Media Market Smart City Market lGlobal expansion of industrial lPhase-out of third-party cookies lEnergy & transportation issues and business digitalization (DX) lConvergence o
Slide 60: Disclaimer
Disclaimer This document contains forward-looking statements. These statements are based only on information that is available at the time the statements are made. In addition, these statements do not constitute a guarantee of future results. They are subject to risk and uncertainty. Please note tha