Softbank Group Corp. · TSE:9984
Softbank — Q1 FY2025 Earnings Presentation
28 slides from Softbank's earnings presentation, August 2025
Slide 1: Investor Briefing: SoftBank Vision & LatAm Funds
QUARTER ENDED JUNE 30, 2025 Investor Briefing SoftBank Vision & LatAm Funds NAVNEET GOVIL Executive Managing Partner & CFO, SB Investment Advisers & SB Global Advisers
Slide 2: Important Information (1 of 2)
Important Information (1 of 2) This presentation (this “Presentation”) is furnished to you for informational purposes in connection with the interests of SoftBank Group Corp. (together with its affiliates, “SoftBank”) in SoftBank Vision Fund L.P. (together with, as the context may require, any paral
Slide 3: Important Information (2 of 2)
Important Information (2 of 2) Vision Fund 1 performance herein is based on unrealized valuations of portfolio investments. Valuations of unrealized investments are based on assumptions and factors (including, for example, as of the date of the valuation, average multiples of comparable companies, a
Slide 4: Enabling the Age of Artificial Superintelligence
PERFORMANCE UPDATE PORTFOLIO UPDATE Enabling the Age of Artificial Superintelligence Rise of ASI Stages of the Information Revolution Rise of Rise of Rise of Rise of PC Internet Mobile AI S E L E CT I N V E S T M E N T S 1 Vision & LatAm FOUNDED Funds 1980s 1990s 2000s 2010s 2020s Footnotes: & Beyon
Slide 5: The AI Flywheel: Improving Models, Lower Costs, Growing Revenues
PERFORMANCE UPDATE PORTFOLIO UPDATE The AI Flywheel: Improving Models, Lower Costs, Growing Revenues As of June 30, 2025 AI Inference Costs Significantly Decreased Revenues of AI Native Companies Reached ~$15B MEDIAN PRICE PER 1 MILLION TOKENS1 ANNUALIZED REVENUE2 September 2023 – March 2025 July 20
Slide 6: Market & Key Economic Indicators
PERFORMANCE UPDATE Market & Key Economic Indicators As of June 30, 2025 NASDAQ INDEX1 VIX INDEX1 CONSUMER SENTIMENT INDEX2 April 1, 2025 – June 30, 2025 April 1, 2025 – June 30, 2025 January 2025 – June 2025 April May June April May June Jan Mar June 2025 2025 2025 2025 2025 2025 2025 2025 2025 APRI
Slide 7: Quarterly Gross Fair Value Performance
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE QUARTERLY GROSS FAIR VALUE PERFORMANCE 1 +$3.6B +$0.8B +$0.5B +$4.8B SVF1 SVF2 LATAM COMBINED PUBLIC +$3.1B +$0.2B +$0.3B +$3.5B Quarterly PRIVATE +$0.5B +$0.6B +$0.2B +$1.3B Performance Public investment gains Public investment gains Public assets
Slide 8: Performance Snapshot
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE SoftBank SoftBank SoftBank Vision Fund 1 Vision Fund 2 LatAm Funds Combined4 Total LP Commitments $98.6B $65.8B $7.8B $172.2B Acquisition Cost1 $87.8B $69.3B $7.5B $164.7B Performance Snapshot Cumulative Gross Investment Gains/(Losses)1 $29.3B $(23
Slide 9: Public Investments Overview
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE Public Investments Overview Top 10 Public Investments by Fair Value | As of June 30, 2025 QUARTERLY FV QUARTERLY STOCK INVESTMENT FV ($B)2 COMMENTARY6 SVF1 SVF2 LATAM CHANGE ($MM)4 MOVEMENT5 +$2,663 $9.3 +37% Q1 ‘25 revenue rose 21% YoY to $7.9B; n
Slide 10: Private Investments Overview
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE Private Investments Overview Key Fair Value Drivers | As of June 30, 2025 KEY METRICS 387 $70.0B 74% +$1.3B # CURRENT INVESTMENTS1 UNREALIZED FV – PRIVATE2 OF TOTAL UNREALIZED FV2 QUARTERLY FV CHANGE3 Top 3 Largest Private Investments by FV4 Fintec
Slide 11: OpenAI's Product Innovations & Acquisitions Enable Continued Growth
SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE OpenAI’s Product Innovations & Acquisitions Enable Continued Growth As of June 30, 2025 SELECT COMPANY UPDATES Increased ChatGPT Daily Active Reached 3 million paying business Launched Codex, a cloud-based Users >4x over the last year1 users, up 50% from Febr
Slide 12: OpenAI Scales Across Consumer & Enterprise Markets
SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE OpenAI Scales Across Consumer & Enterprise Markets As of June 30, 2025 OPENAI HAS THE HIGHEST ADOPTION RATE OF CHATGPT CONTINUES TO BE THE #1 MOST DOWNLOADED APP ANY AI COMPANY AMONG U.S. BUSINESSES WEEKLY APP STORE DOWNLOADS (MILLIONS) 1 SHARE OF U.S. BUSINE
Slide 13: SVF2 OpenAI Investment Totals $9.7B After First Close
SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE SVF2 OpenAI Investment Totals $9.7B After First Close of Latest Round As of June 30, 2025 $10B FIRST CLOSE2 SVF2 OPENAI INVESTMENT BY QUARTER1 September 2024 – June 2025 $2.5B $10B FIRST CLOSE $7.5B SVF2 Investment Amount $7.5B $9.7B $2.5B $1.7B Syndication A
Slide 14: Investment Platform eToro Raised $600mm+ in May IPO
SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE Investment Platform eToro Raised $600mm+ in May IPO As of June 30, 2025 Personal investing platform Total Cost 1 Total Fair Value 2 KEY METRICS5 opening the world’s markets 2023 & 2024 NASDAQ: ETOR to everyone $30mm $53mm Commission Revenue ($mm) Adjusted EBI
Slide 15: Neobank Chime Raised $860mm+ in June IPO
SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE Neobank Chime Raised $860mm+ in June IPO As of June 30, 2025 KEY METRICS1 Leading US neobank providing Total Cost 2 Total Fair Value 3 2022 – 2024 customers with low-cost, 8.0 NASDAQ: CHYM mobile-first banking services $350mm $175mm # Active Members (mm) Reve
Slide 16: IPO Market Momentum Builds as Late-Stage Portfolio Valued at $45B
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE IPO Market Momentum Builds as Late-Stage Portfolio Valued at $45B As of June 30, 2025 LARGEST GLOBAL TECHNOLOGY LISTINGS YTD 1 VISION & LATAM FUNDS LATE -STAGE PORTFOLIO By IPO Proceeds $4.6B $0.8B FAIR VALUE3 $1.5B $1.4B $0.6B $0.6B $45B 65% % of
Slide 17: Revenue & Profitability Growth Support PayPay's IPO Preparations
SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE Revenue & Profitability Growth Support PayPay’s IPO Preparations As of June 30, 2025 PAYMENTS REVENUE & EBITDA1 JPY Billions | FY 2022 – FY 2024 Revenue EBITDA COMPANY HIGHLIGHTS 249 212 +18% 1-in-2 7.8B #1 46 People in Japan Payments made with QR Code Paymen
Slide 18: Klarna Performance Remains Strong as Company Readies for IPO
SVF2 PERFORMANCE UPDATE PORTFOLIO UPDATE Klarna Performance Remains Strong as Company Readies for IPO As of June 30, 2025 GROSS MERCHANDISE VOLUME1 REVENUE & OPERATING EXPENSES1 2020 vs. 2024 2020 – 2024 Revenue Operating Expenses2 $105B $2.8B 93mm Total Active Customers1 2xGrowth +48% 2022–2024 675
Slide 19: Distributions to Limited Partners Reached $72.5B
SVF1 SVF2 LATAM PERFORMANCE UPDATE PORTFOLIO UPDATE Distributions to Limited Partners Reached $72.5B As of June 30, 2025 DPI COMPARISON4 CUMULATIVE DISTRIBUTIONS SINCE INCEPTION1 SVF1 2025 YTD $72.5B DISTRIBUTIONS2 $66.6B 1.9x +$5.9B $53.4B $58.0B $44.2B Median SVF1 JUNE 2025 QUARTER 2017 VC DISTRIB
Slide 20: YTD Highlights: Investing, Value Creation, Monetization
YTD HIGHLIGHTS INV ES TI INVESTING1 NG Enabling the MON VALUE CREATION Largest Private Investments by Unrealized Fair Value $6.1B Age of ASI ETIZATIO Fair Value Gain2 N SVF1 SVF2 LATAM MONETIZATION $5.9B 17 N TI O A Gross Public Listings & C RE Distributions3 Full Exits4 E V ALU Footnotes: 1. Includ
Slide 21: Appendix
Appendix w= OOftBank 2 Investment Advisers
Slide 22: SVF1 Distributions to Limited Partners
SVF1 SVF1 Distributions to Limited Partners Since Inception to June 30, 2025 Total Distributions (A) (B) (C) (D) (E) = (B)-(C) Fund Drawn Return of Pref Coupon / 3 Outstanding 2 Commitment Capital 1 Capital Equity Gains 4 Capital Preferred Equity $40.0B $36.2B $31.7B $9.2B $4.5B Equity $58.6B $53.0B
Slide 23: SVF1 Contribution to SBG, Net of 3rd Party Interests
SVF1 SVF1 2025 Inception to June 30 Fund Net Profit2 $16.1 Less: Change in 3rd Party SVF1 Contribution Interests in Fund (7.9) to SBG, Net of 3rd SBG LP Income: 8.2 Share of Fund Net Profit Party Interests1,3 SBG GP Income: Amounts in USD Billions 1.3 Management & Performance Fees3 Contribution to S
Slide 24: SVF1 Contribution to SBG
SVF1 SBG Paid-In Capital1 SVF1 Contribution $27.7B to SBG SBG Total Value2 As of June 30, 2025 $24.8B $35.9B Net Asset Value3 Distributions4 $11.1B Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable Unutilized Contributions. 2. SBG
Slide 25: SVF2 Contribution to SBG
SVF2 SBG Paid-In Capital1 SVF2 Contribution $62.9B to SBG SBG Total Value2 As of June 30, 2025 $29.8B $38.9B Net Asset Value3 Distributions4 $9.1B Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable unutilized Contributions. SBG Paid
Slide 26: LatAm Funds Contribution to SBG
LATAM SBG Paid-In Capital1 LatAm Funds $7.3B Contribution SBG Total Value2 to SBG $6.1B $6.8B Net Asset Value3 As of June 30, 2025 Distributions4 $0.7B Footnotes: 1. SBG Paid-In Capital represents SBG Commitment drawn down through capital calls less Return of Recallable unutilized Contributions. SBG
Slide 27: Portfolio Companies Continue to be Well-Capitalized
SVF1 SVF2 LATAM 2% <12 Months 7% 12-24 8% Months >24 Months Portfolio Companies Portfolio 83% 98% Continue to be Companies FCF+ or Sufficient to Portfolio Cash Runways Achieve Companies with Well-Capitalized By Fair Value1 Profitability2 12+ Months Cash Runway As of June 30, 2025 Footnotes: 1. Sourc
Slide 28: Thank You
Thank You SoftBank Vision & LatAm Funds Investor Briefing Presentations Available at visionfund.com/presentations 28