Veru Inc. (7048) announced its consolidated results for the third quarter of the fiscal year ending December 2024 (January-September 2024) on the 14th. Operating revenue increased by 43.7% year-on-year to 3.201 billion yen, with an operating loss of 0.242 billion yen (compared to a loss of 0.084 billion yen in the same period last year), an ordinary loss of 0.334 billion yen (compared to a loss of 0.133 billion yen in the same period last year), and a quarterly net loss attributable to shareholders of 0.319 billion yen (compared to a loss of 0.172 billion yen in the same period last year).
Looking at the operating revenue by revenue category, the OTA business generated 2.645 billion yen (up 46.6% year-on-year), while the tourism IT business earned 0.555 billion yen (up 31.3% year-on-year).
Profits have been affected due to increased costs following the enhanced publicity for revenue acquisition and awareness improvement. Additionally, the number of Japanese travelers overseas has not yet returned to pre-pandemic levels, along with the impact of foreign exchange losses.
Regarding the financial estimates for the full year ending December 2024, a revision of the estimates was announced on the same day. Revenue is projected to increase by 34.5% compared to the previous year to 4.2 billion yen (a 23.1% decrease from the previous estimate), with an operating loss of 0.318 billion yen (the previous estimate predicted a profit of 0.35 billion yen), an ordinary loss of 0.418 billion yen (the same previously estimated a profit of 0.34 billion yen), and a net loss attributable to shareholders for the current term estimated at 0.45 billion yen (compared to a profit of 0.264 billion yen in the same period last year).
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