Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes.
In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
March 1, 2022 | |
Company Name: | Money Forward, Inc. |
Representative: | Yosuke Tsuji |
Representative Director, President and CEO | |
(Securities Code: 3994, | |
Stock Exchange: TSE First Section) | |
Inquiries: | Naoya Kanesaka |
Director, Executive Officer and CFO | |
(TEL: +81-3-6453-9160) |
Notice Regarding Upward Revision of Consolidated Forecasts for the Three Months Ended February 28, 2022
Money Forward, Inc. (the "Company"), hereby announces that it has updated its consolidated forecasts for the Three Months Ended February 28, 2022 (from December 1, 2021, to February 28, 2022), which were previously announced on January 14, 2022. We will not update consolidated forecasts for the fiscal year.
1. Update to the consolidated forecast for the three months ended February 28, 2022 (from December 1, 2021 to February 28, 2022)
Profit | |||||||||||||||||||||
Net sales | SaaS ARR *1 | EBITDA*2 | Operating | Ordinary | attributable to | Earnings per | |||||||||||||||
profit | profit | owners of | share | ||||||||||||||||||
parent | |||||||||||||||||||||
Millions of yen | Millions of yen | Millions of yen | Millions of yen | Millions of yen | Millions of yen | Yen | |||||||||||||||
Previous forecast | 4,299 | 12,545 | (2,400) | (2,900) | (2,980) | (2,920) | (54.67) | ||||||||||||||
(A) | |||||||||||||||||||||
〜4,368 | 〜12,729 | 〜(1,900) | 〜(2,400) | 〜(2,480) | 〜(2,420) | 〜(45.31) | |||||||||||||||
Updated forecast | 4,649 | 12,645 | (1,600) | (2,100) | (2,180) | (2,120) | (39.70) | ||||||||||||||
(B) | 〜4,718 | 〜12,829 | 〜(1,100) | 〜(1,600) | 〜(1,680) | 〜(1,620) | 〜(30.34) | ||||||||||||||
Difference | 350 | 100 | 800 | 800 | 800 | 800 | 14.97 | ||||||||||||||
(B-A) | |||||||||||||||||||||
Difference | 8.0 | 0.8 | − | − | − | − | − | ||||||||||||||
(%) | 〜8.1 | ||||||||||||||||||||
Reference: | 3,466 | 9,224 | 358 | 80 | 74 | 64 | 1.35 | ||||||||||||||
Results for | |||||||||||||||||||||
FY11/21 Q1 | |||||||||||||||||||||
*1 SaaS ARR is 12 times the monthly recurring revenue of Business, Home, X and Finance domains in the last month of each term. In order to adjust for seasonal factors of STREAMED, monthly recurring revenue of each first quarter is calculated as one- third of the billing revenue of STREAMED of the said period.
*2 EBITDA=Operating profit(loss)+ depreciation and amortization + tax expenses included in operating expenses +share-based
remuneration expenses
2. Reason for Update
As for net sales and SaaS ARR, the Company has updated the range of net sales (350 million yen) and SaaS ARR (100 million yen). This is because both the recurring and non-recurring revenue in Business domain are expected to exceed the initial forecast due to strong demand of Money Forward Cloud for corporate customers, and the non-recurring revenue in Finance domain at Money Forward Kessai Inc. is expected to exceed the initial forecast.
As for EBITDA, operating income, ordinary income, net income attributable to owners of the parent, and net income per share, the Company has updated the range upwards since while the gross profit increased due to higher net sales, personnel expenses are expected to be lower than planned at the beginning of the fiscal year, although the Company continues to aggressively recruit personnel and strengthen its organizational structure.
The above forecasts are based on information available at the time of this disclosure. Actual results may differ from these forecasts due to various factors in the future.