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NASDAQ · SERVICES-COMPUTER PROGRAMMING SERVICES · SMALL CAP

Perpetuals.com Ltd. PDC

6 fiscal years on record · JPY · FY2025 reported · SEC filings only
JPY 256.3M
▼ 41.8% YoY
JPY -2.7B

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

The company generates revenue through three lines of business: software and system development services, consulting and solution services, and the sale of non-fungible tokens. Through its software and system development services, the company serves companies that hold digital assets and intend to leverage them to create new businesses and systems. Through its consulting services, the company assists companies that seek to update their existing data and digital technology, add functions to their systems, and transform their businesses, operations, and processes. The company traces its inception to May 2018, when it began focusing on blockchain technology and developing systems around its proprietary GLS.

Written from the business description in Earlyworks Co., Ltd.'s annual report to the U.S. Securities and Exchange Commission, filed 27 August 2025. Every sentence was checked against that document before publication.

Growth

JPY 256.3M
Revenue, FY2025 · full 6-year series below
Revenue JPY B Net income JPY B
FY2025 · Revenue 0.3 · Net income -2.7
0.2B0.4B-1.0B-2.0B
202020232025
Compound annual growth
+76.6%
+3.5%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +3.5% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−1070 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -1073.4% · Net -1069.9%
-500%-1000%
202020222025
ROE
FY2025 · ROE -75.8%
-50%-100%
202020222025
Three returns, three denominators.
Gross margin59.5%
Operating margin-1073.4%
Net margin-1069.9%
EBITDAJPY -2.7B

Each JPY of equity lost 76 cents this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow JPY M
FY2024 · FCF -192.2
40M80M-150M-300M
202020222025

Total assetsJPY 10.2B
EquityJPY 7.2B
CashJPY 132.8M
Gross debtJPY 33.9M
Net debtJPY -99.0M
Current ratio0.12×

The company holds more cash than debt.

The 6-year record

6 fiscal years
Every figure from documents filed with the SEC · JPY

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
PDC, 6-year financial record
Metric 202520242023202220212020
Revenue JPY B0.30.40.20.00.50.2
Operating income JPY B−2.8−0.2−0.4−0.4−0.6−0.1
EBITDA JPY B−2.7−0.2−0.4−0.4−0.6−0.1
Income tax JPY B◌◌−0.0−0.00.0−0.0
Net income JPY B−2.7−0.3−0.3−0.4−0.6−0.1
Free cash flow JPY B◌−0.2−0.4−0.40.10.0
EPS, diluted JPY −156.62−17.03−22.77−27.62−43.62−5.26
Dividend / sh JPY ◌◌◌◌◌◌
Payout % — not applicable: no dividend——————
ROE %−75.8−126.8−124.7−95.7−131.8−21.8
Shares out B0.030.020.020.010.01◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 28 reconciliationsAUDITED

Reconciled in 6 of the 6 fiscal years we could check. 28 checks were skipped: the balance sheet is not tagged before 2021. 13 checks were skipped: EPS is not tagged before 2020. 13 checks were skipped: revenue is not tagged before 2020.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityServices-Computer Programming Services
Listed onNASDAQ
Incorporated inoutside the United States — SEC code M0
Fiscal year endsApril 30
SEC categoryemerging growth company
Data on record since2020

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