CrowdWorks : FY2022 1Q Presentation Material for IR

CrowdWorks, Inc.

Financial Results for FY2022 1Q

Securities code: TSE Mothers 3900

FY2022 1Q Results: Summary

FY2022 1Q Performance Highlights

Achieved net sales and gross profit growth of +30% YoY.

Quarterly operating profit (non-GAAP) also surpassed 300 million yen, +184% YoY, greatly exceeding past

record highs.

	Entire Company
		Matching Business	SaaS & New Business
GMV	4,598 million yen	4,552 million yen	45 million yen
(YoY +25.0%)	(YoY +24.5%)
Net sales	2,467 million yen	2,421 million yen	45 million yen
(YoY +35.7%)	(YoY +34.9%)
Gross profit	1,096 million yen	1,050 million yen	45 million yen
(YoY +34.0%)	(YoY +31.6%)
Operating profit	306 million yen	337 million yen	-33 million yen
(Non-GAAP)	(YoY +184.0%)	(YoY +116.4%)

• Entire company operating profit (Non-GAAP) is the figure after adding back 2.6 million yen of stock compensation expense in 1Q from operating profit. As stock compensation expense is a company-wide expense, operating income (GAAP) figures are shown for each segment.
• Results by segment are disclosed after offsetting transactions between consolidated companies.
• Actual figures have been rounded down to the nearest million yen.

* Year-on-year comparisons are calculated in accordance with financial statement regulations, taking into account figures less than one million yen.

Progress vs Full-year Forecast

We achieved steady progress vs our forecast in the first quarter.

Top-line indicators exceeded more than 25% and Operating profit (non-GAAP) achieved 38.3% vs our forecast.

		Progress toward our initial forecast	Initial Forecast
GMV	4,598 mil.	25.5-26.6%	17,268 18,053 mil.

Net Sales	2,467 mil.	26.6-27.8%	8,861 9,264 mil.

Gross Profit	1,096 mil.	26.3-27.5%	3,998 4,179 mil.

Operating	306 mil.	38.3%	800 mil.
Profit
(Non-GAAP)

Upward Revision of Full-year Forecast

Given the steady progress, we revised Net sales and Gross profit targets upward to 10 billion yen (+24.1% YoY) and 4.6 billion yen (+27.7% YoY), respectively.

Operating profit (Non-GAAP) revised upward to 850 million yen. Operating profit in excess of forecast will be reinvested for further growth (details provided later in this document)

	Forecast	Upward Revision Forecast
GMV	17,268~18,053 million yen	18,500 million yen
(YoY +10.0~15.0%)	(YoY +17.9%)
Net sales	8,861~9,264 million yen	10,000 million yen
(YoY +10.0~15.0%)	(YoY +24.1%)
Gross profit	3,998~4,179 million yen	4,600 million yen
(YoY +10.0~15.0%)	(YoY +27.7%)
Operating profit	800 million yen	850 million yen
(Non-GAAP)	(YoY +29.3%)	(YoY +37.3%)

• We disclose operating profit for the current fiscal year as non-GAAP operating profit. Non-GAAP operating profit is calculated as operating profit less stock-based compensation expenses.
• In compliance with financial statement regulations, actual figures are rounded down to the nearest whole number.