Ctw · NASDAQ:CTW
Ctw — FY2026 Earnings Presentation
17 slides from Ctw's earnings presentation, Oct 15, 2026
Slide 1: Fiscal 2026 Supplemental Materials
Fiscal 2026 Supplemental Materials October 15, 2026
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation by CTW (the “Company”, “We” or “Our) contains forward-looking statements. All readers should not rely upon forward-looking statements as predictions of future events. Except as statements other than statements of historical facts contained in t
Slide 3: Fiscal 2026 Highlights
Fiscal 2026 Highlights Paying Monthly Active Users In-Game Purchases Revenue % Revenue ex-Japan (PMAUs) 89K $96.8M $82.5M 36% 1% YoY Growth -10% YoY -8.7% YoY Up from 30% in FY 2025 New Game Titles Launched Return on Ad Spend (ROAS) Adjusted EBITDA1 Net Loss 15 105.8% $3.5M $4.1M Bringing active tit
Slide 4: Notable Game Launches in Fiscal 2026
Notable Game Launches in Fiscal 2026 Doraemon Comic Kakegurui ALL IN High School of the The Apothecary Diaries Crayon Shinchan: My Traveler Dead Day 0 Palace Chronicles Sugoroku Great Strategy 15 16 New game launches Games in backlog or pre- in FY 2026 registration as of July 31, 2026 4
Slide 5: In-Game Purchases
In-Game Purchases Year-over-year growth % -16.7% -9.5% $57,869,173 $106,994,440 $49,125,267 $48,603,849 $48,209,491 $96,813,340 $42,000,000 $41,929,805 $42,532,177 $84,461,982 $39,388,946 $81,388,946 1H 2023 2H 2023 1H 2024 2H 2024 1H 2025 2H 2025 1H 2026 2H 2026 2023 2024 2025 2026 5
Slide 6: Revenue
Revenue Year-over-year growth % -15.4% -8.7% $90,370,793 $49,156,886 $82,509,410 $41,213,907 $40,932,347 $41,577,063 $68,424,577 $62,944,073 $34,980,113 $33,444,464 $32,182,824 $30,761,249 1H 2023 2H 2023 1H 2024 2H 2024 1H 2025 2H 2025 1H 2026 2H 2026 2023 2024 2025 2026 6
Slide 7: User Trends
User Trends Paying Monthly Active Users (“PMAUs”) Monthly Active Users (“MAUs”) Year-over-year growth % Year-over-year growth % 2.1% 0.6% -27.5% -33.2% 3,488,052 102,391 3,378,835 100,322 3,269,618 88,503 89,053 76,684 75,715 2,526,143 2,530,328 70,264 2,301,929 2,273,505 2,257,341 2,170,678 62,621
Slide 8: Other KPIs
Other KPIs Average Monthly in-game Purchase Average Monthly in-game Purchase Return on Ad Spend Amount Per Monthly Active Users Amount Per Paying Monthly Active Users (“ROAS”) (“ARPMAUs”) (“ARPPMAUs”) 130.3% $3.57 $144.04 116.4% $3.12 $3.06 105.8% $112.40 99.3% $2.64 $100.74 $90.60 2023 2024 2025 20
Slide 9: Profitability Measures
Profitability Measures Segment Profitability Net Income (Loss) Adjusted EBITDA $32,290,286 $31,345,844 $5,977,639 $11,999,232 $27,045,916 $10,633,603 $24,989,040 $3,828,563 $3,398,384 $7,960,968 2023 2024 2025 2026 $3,467,076 -$4,131,668 2023 2024 2025 2026 FY 2023 FY 2024 FY 2025 FY 2026 Note: See
Slide 10: Financial Results: Trended Financial Statements and Reconciliations from GAAP to Non-GAAP
Financial Results: Trended Financial Statements and Reconciliations from GAAP to Non-GAAP
Slide 11: Key Performance Indicators
Key Performance Indicators Fiscal 2025 Fiscal 2026 FY 2023 FY 2024 H1 2025 H2 2025 FY 2025 H1 2026 H2 2026 FY 2026 Gross in-game purchase amount(1) $81,388,946 $84,461,982 $49,125,267 $57,869,173 $106,994,440 $48,603,849 $48,209,491 $96,813,340 (2) Paying daily active users (“PDAUs”) 13,541 16,446 1
Slide 12: Income Statement
Income Statement Fiscal 2025 Fiscal 2026 FY 2023 FY 2024 H1 2025 H2 2025 FY 2025 H1 2026 H2 2026 FY 2026 Revenue $ 62,944,073 $ 68,424,577 $ 41,213,907 $ 49,156,886 $ 90,370,793 $ 40,932,347 $ 41,577,063 $ 82,509,410 Cost of revenue 17,049,167 16,211,779 9,942,740 12,097,314 22,040,054 13,876,078 14
Slide 13: Balance Sheet
Balance Sheet July 31, January 31, July 31, January 31, July 31, January 31, July 31, 2023 2024 2024 2025 2025 2026 2026 ASSETS Cash and cash equivalent $14,852,169 $15,531,649 $14,461,251 $15,072,866 $12,208,630 $19,497,920 $14,437,097 Restricted cash 140,683 136,761 133,014 129,127 160,620 129,741
Slide 14: Cash Flow Statement
Cash Flow Statement Fiscal 2025 Fiscal 2026 FY 2023 FY 2024 1H 2025 2H 2025 FY 2025 1H 2026 2H 2026 FY 2026 Net Income (loss) $3,398,384 $5,977,639 $638,785 $3,189,778 $3,828,563 ($1,161,240) ($2,970,428) ($4,131,668) Depreciation and amortization 779,368 2,067,706 1,323,096 1,350,159 2,673,255 1,10
Slide 15: Revenue Recognition & Segment Profitability
Revenue Recognition & Segment Profitability Fiscal 2025 Fiscal 2026 FY 2023 FY 2024 1H 2025 2H 2025 FY 2025 1H 2026 2H 2026 FY 2026 Consolidated in-game purchases $81,388,946 $84,461,982 $49,125,267 $57,869,173 $106,994,440 $48,603,849 $48,209,491 $96,813,340 Less: Recoup of advances made to game de
Slide 16: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation Fiscal 2025 Fiscal 2026 FY 2023 FY 2024 H1 2025 H2 2025 FY 2025 H1 2026 H2 2026 FY 2026 Net income $ 3,398,384 $ 5,977,639 $ 638,785 $ 3,189,778 $ 3,828,563 $(1,161,240) $(2,970,428) $(4,131,668) Depreciation and amortization 779,368 2,067,706 1,323,096 1,350,159 2,67
Slide 17: Key Definitions
Key Definitions References in this presentation to: Active User Are to any user that spend at least one (1) minute on G123.jp platform during the applicable period. Active users are calculated based on cookie-based uniqueness, Paying User Are to any user that makes at least one in-game purchase of n