Money Forward, Inc.
Financial Results Fiscal Year 2025 Ended Nov 30, 2025
For the fiscal year ended November 2025, revenue reached 50.35 billion yen, a 25% year-over-year increase, surpassing the guidance median. Adjusted EBITDA was 4.96 billion yen, exceeding the upper end of guidance. Net income attributable to owners of parent achieved profitability at 1.587 billion yen.
Key Figures
- Revenue: 50.35 billion yen (YoY +25%, surpassed guidance median)
- Adjusted EBITDA: 4.96 billion yen (exceeded guidance upper limit of 4.4 billion yen, margin improved by +5.2pts)
- Net Income Attributable to Owners of Parent: +1.587 billion yen (achieved first profitability)
AI要約
Performance Overview
Revenue for the fiscal year ended November 2025 reached 50.35 billion yen, a 25% increase year-over-year, surpassing the guidance median. SaaS ARR grew 31% year-over-year to 39.333 billion yen, accelerating growth. Adjusted EBITDA was 4.96 billion yen, exceeding the guidance upper limit of 4.4 billion yen, with operating margin improving by 5.2 points. Operating income remained negative at -2.653 billion yen, but net income attributable to owners of parent achieved profitability at 1.587 billion yen, marking the first profitable period.
FY26 Earnings Guidance and Mid-to-Long-Term Financial Targets
For FY26, the company aims to achieve full-year positive operating cash flow and accelerate investments in AI along with EBITDA margin improvement. Revenue is projected between 53.4 and 57.55 billion yen, SaaS ARR between 47.5 and 49.8 billion yen, and adjusted EBITDA planned at 8.0 to 10.0 billion yen. The FY28 mid-to-long-term financial targets now include a new target of 18.0 billion yen in operating cash flow, reinforcing commitment to cash flow generation. Through AI strategies and functional enhancements, the Business segment ARPA aims to expand by 30–40% or more by FY28.
