TOKYO, JAPAN / ACCESS Newswire / February 18, 2025 / BloomZ Inc. ("BloomZ" or the "Company") (NASDAQ:BLMZ), a Japanese audio production, VTuber, entertainment, and voice actor management company, announced its financial results for the fiscal year ended September 30, 2024.
Management Commentary
"Following a strong first half of the year, we are pleased to announce our fiscal year 2024 results, which demonstrated growth across our audio production, talent management, and internet VTuber management business," said BloomZ CEO Kazusa Aranami. "As we kick off 2025, our focus remains on driving our project portfolio through active marketing and involvement in upcoming animation projects. Over the past year, we have established several strategic partnerships that we believe will strengthen our production capabilities and presence in the industry, and we intend to pursue similar partnership opportunities this year. We are also exploring new initiatives to expand the content creation capabilities of our VTuber business to enhance our visibility, influence, and reach towards new consumers."
"Despite the growth of our businesses, a fundamental factor that prevented us from achieving more in the past year was the manpower shortage that inhibited our ability to fully capitalize on emerging business opportunities. To address this issue, our priority for fiscal year 2025 will be to recruit additional management-level personnel to expand our bandwidth and enhance our capability to manage multiple projects simultaneously, which in turn is expected to strengthen our revenue-generating potential. To further improve the margins of our audio production business, we plan to promote our affiliated voice actors and talent through new initiatives aimed at boosting their personal brand recognition, which we anticipate will attract more work opportunities in the long term. Meanwhile, we expect our VTuber business to continue to demonstrate strong potential with its high-margin performance. We aim to expand our portfolio of affiliated VTubers to sustain and accelerate growth in this sector. In addition, we intend to remain focused on executing our strategy and further establishing our presence within our industry."
Fiscal Year 2024 Financial Results:
Revenue increased 71.5% to $1.5 million (¥220,028 thousand) for the fiscal year ended September 30, 2024, compared to $896 thousand (¥128,313 thousand) for the same period last year. The increase was primarily due to increased revenue from the sound production and talent management business, internet business, and distribution income from investments in animation production committees.
Operating Expenses were $2.8 million (¥405,930 thousand) for the fiscal year ended September 30, 2024, compared to $1.0 million (¥143,198 thousand) for the same period last year. The increase was primarily due to the change in direct costs associated with the fluctuation in revenue, higher salaries due to additional employees hired during the period, higher commission fees resulting from the higher sales from the Internet business, and additional joint investments the Company made during the period.
Net Loss was $1.5 million (¥221,023 thousand) for the fiscal year ended September 30, 2024, compared to $110 thousand (¥15,796 thousand) for the same period last year. The increase was primarily due to an increase in the aforementioned operating expenses.
As of September 30, 2024, cash and cash equivalents were $1.0 million (¥148,639 thousand). The Company expects to receive repayment of a loan due from Cyberstep, Inc., one of the Company's principal shareholders, in fiscal year 2025. The Company is also exploring additional financing measures to increase its cash liquidity.
* (Conversion Rate ¥143.25 - USD $1.00) as of September 30, 2024
For more information regarding BloomZ's financial results, including financial tables, please see the Company's Form 20-F for the fiscal year ended September 30, 2024 filed with the U.S. Securities and Exchange Commission (the "SEC") on February 14, 2025. The Company's SEC filings can be found on the SEC's website at https://www.sec.gov/ or the Company's investor relations site at https://investor.bloomz-inc.com/.
About BloomZ Inc.
BloomZ is a Cayman Islands holding company with an operating subsidiary, Kabushiki Kaisha BloomZ ("BloomZ Japan"), in Japan. BloomZ Japan is a Japanese audio producing and voice actor and VTuber managing company. BloomZ Japan has experienced staff who have worked on audio production for animations and video games for more than 10 years. BloomZ Japan also manages, cultivates and promotes voice actors and VTubers.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act and other securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. Forward-looking statements are not historical facts, and are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. Such expectations, beliefs and projections are expressed in good faith. However, there can be no assurance that management's expectations, beliefs and projections will be achieved, and actual results may differ materially from what is expressed in or indicated by the forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the forward-looking statements. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time with the SEC. Forward-looking statements speak only as of the date the statements are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events or circumstances, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If the Company does update one or more forward-looking statements, no inference should be drawn that the Company will make additional updates with respect thereto or with respect to other forward-looking statements. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.
BloomZ Investor Contact
John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860
BloomZ@gateway-grp.com
SOURCE: BloomZ
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