Soracom,inc. · TSE:147A
Soracom,inc — Q1 FY2027 Earnings Presentation
49 slides from Soracom,inc's earnings presentation, Aug 12, 2026
Slide 1: FYE March 2027 Q1 Financial Results
FYE March 2027 Q1 Financial Results SORACOM, INC. August 12, 2026
Slide 2: Executive Summary
Executive Summary FYE March 2027 Q1 Financial Summary Recurring Revenue Total Revenue EBITDA / Operating Profit JPY 2.7 B JPY 3.3 B JPY 316 215 M/ M YoY +48.6% YoY +52.1% YoY +81.5% / +69.3% Highlights KPI of the Share of Global Revenue After-AI SORACOM Platform in Recurring Revenue (1) Organization
Slide 3: Agenda
1 FYE March 2027 Q1 Financial Results 2 Progress on Growth Strategy 3 Appendix 3
Slide 4: Agenda: FYE March 2027 Q1 Financial Results
1 FYE March 2027 Q1 Financial Results 2 Progress on Growth Strategy 3 Appendix 4
Slide 5: Resilient Recurring Revenue — Quarterly Trend
Resilient Recurring Revenue — Quarterly Trend Low Churn Rate × High NRR — Recurring Revenue That Compounds (JPY MM) 4,500 Incremental Revenue 4,000 Recurring Revenue 3,500 3,000 2,500 ChurnRate (1) NRR (2) 2,000 1,500 1,000 YoY +48.6% 0.4 ％ 121 % 500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 6: FYE March 2027 Q1 Financial Results YoY Comparison
FYE March 2027 Q1 Financial Results YoY Comparison (JPY MM) FY 3/27 FY 3/26 Q1 Actual Q1 Actual YoY Recurring Revenue 2,742 1,845 48.6% • Recurring revenue grew 48.6% YoY to % of Revenue 81.0% 82.9% -1.9pt JPY 2.74B, while total revenue grew 52.1% YoY to JPY 3.38B Revenue 3,384 2,225 52.1% • Gross p
Slide 7: FYE March 2027 Q1 Financial Results vs. Forecast
FYE March 2027 Q1 Financial Results vs. Forecast (JPY MM) FY 3/27 FY 3/27 Q1 Full-Year Achievement Actual Forecast Rate Recurring Revenue 2,742 11,421 24.0% • Both recurring revenue and total % of Revenue 81.0% 75.5% revenue are progressing steadily against the full-year forecast Revenue 3,384 15,12
Slide 8: Recurring Revenue KPIs: Group
Recurring Revenue KPIs: Group Recurring Revenue (= ARPA × Number of Paying Accounts) — Steady Growth Continues Average Recurring Revenue Number of Paying Accounts (2)(3) per Paying Account (ARPA)(1)(2) (JPY K) (Account) 1,060 11.1k 1,200 12,000 [1,044] 10.4k [10.6k] 947 9.2k [9.3k] 900 [799] 9,000 8
Slide 9: Global Revenue
Global Revenue Global Revenue Up 47.0% YoY Now Over 40% of Total Revenue, 50% of Recurring Revenue Global Revenue (1)(3) Case Studies Case Studies Case Studies (JPY MM) FY3/27 Q1 YTD: 45.7% % of Global Revenue in Total Revenue(1) 41.8%40.0%40.1% 34.2%36.4% 8,000 UK Base JP Base US Base 25.6% 6,069 6
Slide 10: Strong Growth Rate in the US Business
Strong Growth Rate in the US Business Large US Market Delivers 71% CAGR, Plus New Large-Scale Wins New Use Case US Revenue (1) SPAN's Smart Distribution Panel (JPY MM) 3,000 2,500 1,952 2,000 1,500 1,200 CAGR(1) +71% 1,000 568 [631] 500 [361] A service that uses AI to analyze collected data, [249] [
Slide 11: Recurring Revenue KPIs: Global
Recurring Revenue KPIs: Global Global Drives Growth with Double-Digit Increases in Both ARPA and Number of Paying Accounts Average Recurring Revenue Number of Paying Accounts (2)(3) per Paying Account (ARPA)(1)(2) (JPY K) Global ARPA is approximately (Account) 2,500 double that of the group as a who
Slide 12: Evolving into an After-AI Organization
Evolving into an After-AI Organization Generative AI Boosts Productivity — SG&A-to-Revenue Ratio Improves 8.7pt YoY Existing Businesses SG&A Expenses Employees (1) (JPY MM) SG&A as (People) Increase Mainly Japan Business US Business % of Revenue Due to M&A 2,000 250 49.3% 40.6% 50.0% 196 200 175 Eur
Slide 13: Agenda: Progress on Growth Strategy
1 FYE March 2027 Q1 Financial Results 2 Progress on Growth Strategy 3 Appendix 13
Slide 14: Total IoT Market Size
Total IoT Market Size Extending our reach to the global IoT market by leveraging strengths across multiple IoT categories Worldwide (2029) USD 952.3B End points USD 308.1B Sensors and Software security equipment, etc. USD 132.4B Platform and Infrastructure Application, etc. USD 73.8B Connectivity Cl
Slide 15: Serviceable Obtainable Market
Serviceable Obtainable Market JPY 50 B by 2031 Is Barely a Fraction of What's Possible FY3/31 Expected Revenue Range: USD 333M(3) TAM (JPY 50 B) SAM SOM Total IoT Market IoT Connectivity Market USD 124.9B(2) USD 1,239B(1) Notes: (1) TAM (Total Addressable Market): the total addressable IoT market si
Slide 16: Expected Revenue Range by FY 3/31
Expected Revenue Range by FY 3/31 Built a High-Growth Foundation via Global Expansion, Strategic Alliances, M&A Pursuing Exponential Growth through Organic × Inorganic Strategies (JPY MM) 50,000 5-Year Expected Revenue Range 50B 50,000 40,000 Inorganic JPY 30,000 Revenue CAGR(1) 30%+ 20,000 12,423 R
Slide 17: Progress Across All Four Growth Areas
Progress Across All Four Growth Areas Global No. 1 AI / IoT Connectivity Platform Creating Synergies Across New Growth Markets A Global No. 1 AI / IoT Connectivity Platform B C D E Services for Connected AI-Native AI × IoT Carriers Car Camera Solutions Providing cloud-native mobile core Using next-g
Slide 18: AI / IoT Connectivity Platform: Current Market Shift
A AI / IoT Connectivity Platform: Current Market Shift Beyond Massive IoT / Industrial DX, the Market Expands Further into Physical AI Massive IoT Industrial DX Physical AI Data Volume: Small Data Volume: Medium Data Volume: Large Several MB and up Several hundred MB and up Tens of GB and up Represe
Slide 19: AI / IoT Connectivity Platform: Number of Connections
A AI / IoT Connectivity Platform: Number of Connections Total Connections Surpassed 10 Million(1) in July 2026 Note: (1) Total number of connections for SORACOM Air (including SORACOM Air for Cellular, Sigfox, and LoRaWAN), combined with the number of connections for Misora Connect, Inc. 19
Slide 20: AI / IoT Connectivity Platform: Global Recognition ①
A AI / IoT Connectivity Platform: Global Recognition ① Soracom-KDDI Named a Leader 2026 Gartner Magic Quadrant for Managed IoT Connectivity Services, Worldwide • Recognized for Completeness of Vision and Ability to Execute Source：Gartner® Magic Quadrant for Managed IoT Connectivity Services, Worldwi
Slide 21: AI / IoT Connectivity Platform: Global Recognition ②
A AI / IoT Connectivity Platform: Global Recognition ② Soracom Named a “Most Valuable Pioneer“ QKS Group — AI Maturity Matrix For IoT Connectivity Management Platform, 2026 • Recognized for directly embedding generative AI into the IoT development workflow • The only vendor offering a complete set o
Slide 22: B Services for Carriers
B Services for Carriers Now Offering Our Cloud-Native Mobile Core Technology to Domestic and International MNOs/MVNOs • Existing KDDI business tracked in Evolves based on customer feedback line with last year in Q1, with revenue growth expected for the first SORACOM Cloud-Native Core half Line Resel
Slide 23: C Connected Car
C Connected Car Launching 'SORACOM Automotive Suite,' an End-to-End Solution for Connected Cars, with Plans to Expand Automaker and Telecom Partnerships App-Based Control and Status Monitoring Infotainment and In-Car WiFi Connected Car Firmware and AI Model Updates Operator Calls and Emergency Notif
Slide 24: D AI-Native Camera
D AI-Native Camera Announcing a New Model with Built-In Cellular Connectivity — Plug In and Go, Driving Adoption in Construction and Safety Management LTE-Equipped, Outdoor-Ready Cloud Camera Digitizing Any Site with Ease — The Eye of the AI Era Zero Setup Compact IP65 Waterproof / Dustproof LTE Con
Slide 25: Customer Case Study: Toyota Industries Corporation
Manufacturing Customer Case Study TOYOTA INDUSTRIES CORPORATION Using AI to analyze vehicle footage captured by IoT cameras, reading license plates to digitize truck entry SORACOM services used: Soracom Cloud Camera Services, SORACOM Flux and exit times, and applying this data Device used: SORACAM O
Slide 26: Sora-Cam Customer Case Study: Japan Airlines
Transportation & Logistics Sora-Cam Customer Case Study Japan Airlines Co., Ltd. JALCargo Service Co.,Ltd. Streamlining operations through remote monitoring and AI image analysis of storage utilization rates inside container- Services used: Soracom Cloud Camera Services, type cold storage units loca
Slide 27: E AI × IoT Solutions: SORACOM Agent
E AI × IoT Solutions: SORACOM Agent An AI Agent Trained on SORACOM's Expertise Helps Users Articulate, Implement, and Operationalize IoT Complexity and Tacit Knowledge Autonomy L o n g - Te r m M e m o r y Once given a goal, it Retains long-term autonomously completes memory of the project, tasks —
Slide 28: SORACOM Agent Demo①
E AI × IoT Solutions: SORACOM Agent Demo① Chat with the AI Agent — It Operates the Camera, Analyzes Images, and Notifies You of Results" There should be a LOVOT in the SORACOM office — find it and show me a still image of that moment. 28
Slide 29: SORACOM Agent Demo②
E AI × IoT Solutions: SORACOM Agent Demo② End-to-End Support Across Spec Creation, Device Building, and IoT App Development .md Spec Creation Support Device uilding Support IoT App Development Support 29
Slide 30: Today’s Summary
Today’s Summary 1 FYE March 2027 Q1: Strong growth — recurring revenue +48.6%, revenue +52.1%, global share of recurring revenue at 50.5% 2 AI / IoT connectivity platform surpasses 10 million connections, expanding global presence 3 All four growth areas — services for carriers, connected car, AI-na
Slide 31: Agenda: Appendix
1 FYE March 2027 Q1 Financial Results 2 Progress on Growth Strategy 3 Appendix 31
Slide 32: Selected Income Statement
Selected Income Statement (JPY MM) FY 3/25 FY 3/26 FY 3/27 Annual Annual Q1 Recurring Revenue 6,562 9,296 2,742 % of Revenue 73.0% 74.8% 81.0% Revenue 8,993 12,423 3,384 Gross Profit 5,033 6,143 1,589 % Margin 56.0% 49.4% 47.0% SG&A 4,376 5,271 1,373 % of Revenue 48.7% 42.4% 40.6% EBITDA 833 1,228 3
Slide 33: Balance Sheet
Balance Sheet (JPY MM) FY 3/25 FY 3/26 FY 3/27 FY 3/25 FY 3/26 FY 3/27 Annual Annual Q1 Annual Annual Q1 Cash and Deposits Accounts Payable 814 756 659 8,917 9,269 9,255 Contract Liabilities 836 1,148 1,134 Accounts Receivable 2,428 2,312 2,009 Long-term loans *repayable within 1 year 249 249 249 Ot
Slide 34: Cash Flow Statement
Cash Flow Statement (JPY MM) FY 3/25 FY 3/26 FY 3/27 Annual Annual Q1 CF from operating activities -728 1,761 80 CF from investing activities -474 -1,382 -116 CF from financing activities 2,451 -67 10 Effect of exchange rate change on cash and cash equivalents -27 40 11 Net increase (decrease) in ca
Slide 35: Capital Allocation Policy
Capital Allocation Policy Growth Investment First, Excess Capital Returned Flexibly Shareholder Return excess capital flexibly (e.g., share buybacks) when it can't be fully allocated to Current Returns organic/inorganic growth within a set period Financial Position (as of FY3/27 Q1-End) Inorganic Gr
Slide 36: Corporate Philosophy Vision and Mission
Corporate Philosophy Vision and Mission 36
Slide 37: SORACOM’s AI / IoT Connectivity Platform
SORACOM’s AI / IoT Connectivity Platform IoT / AI IoT AI / Cloud Devices Connectivity SORACOM IoT SORACOM Devices SORACOM Cloud Connectivity Communication Modules IoT SIM Remote Control （5G/LTE/3G/LTE-M) AI Data Processing Sensor Devices IoT Automation Partner Devices LPWA / Satellite Partner Cloud
Slide 38: Current Growth Drivers
Current Growth Drivers Driving Exponential Growth from a Cloud-Native Mobile Core, Powered by Two Growth Drivers Combined with AI and Inorganic Strategies Global Expansion ②Global Expansion ⚫ Achieving Global No. 1 in AI / IoT Core IoT Current Position Connectivity Platforms ⚫ Rapid Expansion Throug
Slide 39: Growth Drivers in Detail
Growth Drivers in Detail ①Core IoT Growth & Expansion ②Global Expansion Surging Domestic Connectivity Demand Achieving Global No. 1 in AI / IoT Connectivity Platform Structural growth in demand for high-bandwidth, low- latency, high-reliability connectivity infrastructure as Adoption expanding into
Slide 40: D Integrating with AI-Native Cameras: SORACOM Flux
D Integrating with AI-Native Cameras: SORACOM Flux Simplifying Generative AI Integration with SORACAM to Streamline Operations • OpenAI • Anthropic 2 • Gemini Generative AI analysis of images with Cloud Recording Starts Simply detected humans by Connecting to Wi-Fi 3a “Sora-Cam,” the AI Eye Add an a
Slide 41: Recurring Revenue & Revenue Growth Forecast
Recurring Revenue & Revenue Growth Forecast FY3/27 Maintains Focus on Recurring Revenue, Targeting 22.8% YoY Organically Recurring Revenue Revenue (JPY MM) FY3/27 Q1 (JPY MM) YTD: 81.0% 16,000 Recurring Revenue as a % of Total Revenue 16,000 15,124 85% 73.0% 74.8% 75.5% 80% 68.7% 67.9% 12,423 61.4%
Slide 42: Gross Profit Growth
Gross Profit Growth Gross Profit Delivers Double-Digit Growth Despite Temporary Margin Impact from Misora Connect Consolidation Gross Profit Gross Profit Margin (JPY MM) 8,000 7,614 FY3/27 Q1 80% YTD: 47.0% 6,143 6,000 5,033 56.7% 56.0% 4,492 60% 50.0% 51.9% YoY +29.9% 49.4% 50.3% 4,000 3,270 44.5%
Slide 43: SG&A and EBITDA
SG&A and EBITDA EBITDA and Operating Profit Increased Significantly, Driven by SG&A Cost Control through Generative AI and Other Initiatives EBITDA SG&A Expenses Employees (1) EBITDA / Operating Profit (2) (JPY MM) SG&A as (People) (JPY MM) % of Revenue 2,000 250 2,000 54.2% 49.3% 40.6% 1,650 50.0%
Slide 44: Strong US Growth Drives Global Expansion
Strong US Growth Drives Global Expansion Distributor Strategy Fuels High US Growth with Minimal Resources Global Share of Recurring Revenue(1)(2) Distributor Strategy FY3/27 Q1 SORACOM (JPY MM) Global revenue as % of YTD: 50.5% recurring revenue 51.5% TSD(3) 8,000 48.0% 48.0%49.7% 42.6% Thousands of
Slide 45: Expected Exchange Rate Impact
Expected Exchange Rate Impact Expected Exchange Rate 150.00 JPY / USD Fluctuations due to one yen depreciation Revenue An increase of 40 MM JPY The impact is largely neutral Operating Profit (an increase of 4 MM JPY) 45
Slide 46: FYE March 2027 Q1 Recurring Revenue
FYE March 2027 Q1 Recurring Revenue Recurring Revenue Remains Strong, Up 41.6%YoY on a Currency-Adjusted Basis, Maintaining High Growth Recurring Revenue Exchange Rate Actual Constant Currency(1) (JPY MM) 3,500 3,000 2,742 2,616 FY3/26 Q1 144.59 JPY / USD 2,500 2,000 1,845 1,848 FY 3/27 Q1 159.45 JP
Slide 47: Progress on Vesting Conditions for Paid Stock Options
Progress on Vesting Conditions for Paid Stock Options Vesting Conditions: Early Achievement of Revenue Over JPY 20B (Recurring Revenue Over JPY 14B) and Market Cap Over JPY 150B Recurring Revenue Revenue (JPY MM) Over ×2 20B JPY • Vesting Condition of Non-GAAP OP 20,000 20,000 Margin is over 10% Ove
Slide 48: KPI for Achieving Profitable Growth
KPI for Achieving Profitable Growth Focusing on Recurring Revenue Growth While Maintaining Profitability Recurring EBITDA Sustainably Achieving Profitable Growth = Revenue Growth + Margin the 40% Target FY3/27 Q1 60% YTD: 58.0% 51.6% 50% • FY3/26 Profitable Growth of 51.6% Significantly 40% 35.0% 33
Slide 49: Legal Disclaimer
Legal Disclaimer This document has been prepared by SORACOM, INC. (the “Company”) solely for the informational purposes of explaining company information and does not constitute a solicitation of purchase or sale of securities in any jurisdiction including Japan, the United States, or any other juri