Income statement, balance sheet and cash flow statement for the last 4 fiscal years, taken from the XBRL data PicoCELA Inc. files with the SEC in its annual reports.
In JPY millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2022
FY2024
FY2024
FY2025
Revenue
682
560
784
545
Research and development
40.6
75.6
49
26.2
Selling, general and administrative
454
898
870
892
Operating expenses
698
1,188
1,232
1,146
Operating income
-16.2
-629
-447
-601
Other non-operating income
11.1
-5.42
-32.7
-24.9
Pre-tax income
-5.18
-634
-480
-626
Net income
-5.18
-634
-480
-626
EBITDA
-8.01
-616
-427
-575
EPS, basic
-21.90
-2,685.00
-1,335.00
-683.34
EPS, diluted
-21.90
-2,685.00
-1,335.00
-683.34
Shares, basic (weighted)
0.24
0.24
0.36
0.92
Shares, diluted (weighted)
0.24
0.24
0.36
0.92
Balance sheet
FY2022
FY2024
FY2024
FY2025
Cash and equivalents
428
457
535
Receivables
211
218
48.3
Inventory
184
207
264
Other current assets
1.06
0.04
0.11
Total current assets
1,011
947
992
Property, plant and equipment
19.8
21.6
27.1
Lease right-of-use assets
11.6
11.7
9.98
Intangible assets
11.9
8.28
5.12
Other non-current assets
17.3
14.7
10.2
Total assets
1,149
1,235
1,087
Accounts payable
6.35
6.38
1.33
Deferred revenue
19.9
40.3
55.1
Short-term debt
215
218
262
Total current liabilities
367
435
465
Long-term debt
26.3
28.3
10.4
Lease liabilities
2.02
3.51
1.8
Total liabilities
453
880
617
Total debt
241
246
272
Paid-in capital
2,244
2,457
3,239
Retained earnings
-1,723
-2,203
-2,829
Shareholders' equity
468
696
355
470
Total equity
468
696
355
470
Total liabilities and equity
1,149
1,235
1,087
Shares outstanding
7.11
0.76
1.15
Cash flow statement
FY2022
FY2024
FY2024
FY2025
Net income
-5.18
-634
-480
-626
Depreciation and amortization
8.23
12.2
20.7
26.5
Stock-based compensation
5.21
Change in receivables
-162
52.7
-6.6
170
Change in inventory
30.1
-114
-22.7
-57.7
Cash from operations
-115
-740
-243
-544
Capital expenditures
-3.56
-20.5
-18.8
-28.3
Cash from investing
-15.4
-20.5
-44
-46
Stock issued
9.89
1,241
Cash from financing
-6.59
925
316
668
Net change in cash
-137
165
28.8
78.1
Free cash flow
-119
-760
-262
-572
Interest paid
1.31
3.51
6.16
20.8
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. No valuation: the share price is quoted in a different currency than the statements.
Profitability
Metric
Value
How it is calculated
Operating margin
-110.4%
Operating income / revenue.
EBITDA margin
-105.5%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-115.0%
Pre-tax income / revenue.
Net margin
-115.0%
Net income / revenue.
FCF margin
-105.1%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-99.9%
Cash from operations / revenue.
Return on equity (ROE)
-151.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-53.9%
Net income / average total assets.
Return on invested capital (ROIC)
-270.2%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
4.8%
Research and development expense / revenue.
SG&A / revenue
163.8%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
1.0%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
5.2%
Capital expenditures / revenue.
D&A / revenue
4.9%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-30.6%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-7.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
32.5%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
0.1%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-12.0%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
154.9%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
57.3%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
2.13x
Current assets / current liabilities.
Quick ratio
1.25x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.15x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.58x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
25.1%
Total debt / total assets.
Liabilities / assets
56.8%
Total liabilities / total assets.
Net debt
-¥262.5M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-¥683.34
Net income per basic share, as reported (split-adjusted).
Revenue per share
¥594.28
Revenue / diluted weighted shares.
FCF per share
-¥624.47
Free cash flow / diluted weighted shares.
Operating cash flow per share
-¥593.55
Cash from operations / diluted weighted shares.
Book value per share
¥407.30
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
PicoCELA Inc. reported revenue of ¥544.7M for fiscal 2025, 30.6% lower than the year before.
Was PicoCELA Inc. profitable in fiscal 2025?
No. It reported a net loss of ¥626.3M.
How much free cash flow did PicoCELA Inc. generate in fiscal 2025?
Cash from operations of ¥544M minus capital expenditures of ¥28.3M left free cash flow of -¥572.4M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.