Cyber Security Cloud (4493): FY2025 Results Summary — Net Sales Up 31.8% and Operating Profit Up 42.5%

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

Cyber Security Cloud, Inc. (TSE Growth Market: 4493) reported net sales of ¥5,084 million and operating profit of ¥1,102 million for FY2025, the fiscal year ended December 31, 2025. Net sales rose 31.8% year on year and operating profit rose 42.5%, and both figures exceeded the 2025 targets of ¥5.0 billion in net sales and ¥1.0 billion in operating profit that the company set in 2021. Annual Recurring Revenue (ARR) reached ¥4,997 million, up 22.0% year on year. For FY2026, the company forecasts net sales of ¥6,000 million and operating profit of ¥1,200 million as the first year of a new mid-term management plan running through FY2030.

Consolidated Results (Full-Year Actual)

All four headline profit lines grew by double digits and each came in above the company’s own FY2025 forecast. The operating margin improved 1.5 percentage points to 21.6%. Results were released on February 13, 2026.

Item (Millions of yen)	FY2025 Full-Year	FY2024 Full-Year	YoY	FY2025 Forecast	Progress Rate
Revenue	5,084	3,857	+31.8%	5,000	101.7%
Gross Profit	3,333	2,520	+32.3%	―	―
Operating Profit	1,102	773	+42.5%	1,000	110.3%
Operating Margin	21.6%	20.1%	+1.5pt	20.0%	―
Ordinary Profit	1,092	832	+31.1%	1,000	109.2%
Net Income Attributable to Owners of the parent	821	575	+42.9%	693	118.6%

The company also disclosed its balance sheet and cash flow position. Total assets expanded to ¥5,833 million and net assets to ¥4,422 million, while cash and cash equivalents at the end of the period stood at ¥3,983 million.

Item (Millions of yen)	FY2025	FY2024
Total Assets	5,833	3,016
Total Liabilities	1,411	1,310
Net Assets	4,422	1,706
Cash Flows from Operating Activities	1,004	633
Cash Flows from Investing Activities	-426	-175
Cash Flows from Financing Activities	1,707	-595
Cash and Cash Equivalents at End of Period	3,983	1,667

Product Results (ARR and KPIs)

Total ARR rose 22.0% year on year to ¥4,997 million at the end of FY2025, driven by steady growth across all products. The overseas ARR ratio reached 10.6%, surpassing 10% for the first time. CloudFastener recorded the sharpest growth at +138.9%, and webtru contributed ARR of ¥184 million. Churn rates were stable at approximately 1%, with Kogeki Shadan-kun at 1.04% and WafCharm at 0.89% as of the end of FY2025.

Product	Metric	FY2025 4Q	FY2024 4Q	YoY
Kogeki Shadan-kun	ARR (¥ million)	1,688	1,629	+3.6%
Kogeki Shadan-kun	Number of Corporate Customers	1,370	1,297	+5.6%
Kogeki Shadan-kun	Churn Rate (%)	1.04	1.10	-0.06pt
WafCharm	ARR (¥ million)	1,740	1,475	+18.0%
WafCharm	Number of Users	1,301	1,288	+1.0%
WafCharm	Churn Rate (%)	0.89	0.83	+0.06pt
Managed Rules	ARR (¥ million)	749	598	+25.3%
Managed Rules	Number of Users	4,035	3,841	+5.1%
SIDfm	ARR (¥ million)	289	247	+17.0%
SIDfm	Number of Users	244	217	+12.4%
CloudFastener	ARR (¥ million)	344	144	+138.9%
webtru	ARR (¥ million)	184	–	–
Total	ARR (¥ million)	4,997	4,095	+22.0%

Topics in FY2025

The company highlighted four topics for the period. First, after three consecutive years as No.1 in sales share in Japan’s cloud-based WAF market with Kogeki Shadan-kun, it newly achieved No.1 sales share in the domestic WAF managed monitoring services market, giving it the top position in two WAF-related market segments. Second, adoption of CloudFastener expanded, particularly among listed companies, with new customers including JTB Corp., IRIJ Co., Ltd. and House Foods Group Inc., and cross-selling with WafCharm progressing. Third, two optional features — “WAF Log Storage” and the “Log Intelligence Option” — were added to WafCharm to raise ARPU. Fourth, the company exhibited at AWS re:Invent for a third consecutive year, generating over 170 high-potential leads, and was selected as a finalist for the “Geo and Global AWS Partner Award 2025” Marketplace Partner of the Year – APJ.

Headcount increased by 29 year on year to 175 employees at the end of 2025, reflecting continued strengthening of new graduate and mid-career hiring. Quarterly operating expenses rose to ¥1,097 million in Q4, as personnel expenses grew with headcount and advertising expenses increased in connection with participation in AWS re:Invent 2025.

FY2026 Forecast

For FY2026, the company targets net sales of ¥6.0 billion and operating profit of ¥1.2 billion. The plan assumes organic growth, with M&A positioned as an upside factor.

Item (Millions of yen)	FY2026 Forecast	FY2025 Actual	YoY
Net Sales	6,000	5,084	+18.0%
Operating Profit	1,200	1,102	+8.8%
Ordinary Profit	1,200	1,092	+9.9%
Profit Attributable to Owners of Parent	865	821	+5.2%

Shareholder Returns

The results presentation does not include information on dividends or share buybacks. This cannot be confirmed from the materials.

Mid-Term Management Plan

Alongside the results, the company announced in February 2026 a new mid-term management plan covering the five-year period from FY2026 to FY2030, succeeding the previous plan for FY2022–FY2025. By FY2030, it aims to achieve ¥20.0 billion in net sales, ¥4.0 billion in operating profit and an operating margin of 20%.

Reference points disclosed in the materials include a revenue CAGR of 33.6% from 2020 to 2025, an overseas ARR ratio of 10.6%, services provided in more than 100 countries, more than 6 million users, and 48 customers with an ARR of ¥10 million or more. The recurring revenue ratio is approximately 90%.

This article is an analysis based on publicly available information and is not a recommendation to buy or sell any specific securities. Investment decisions are your own responsibility.