Findex <3649> announced on the 13th its consolidated financial results for the third quarter of the fiscal year ending December 2024 (January to September 2024). Revenue increased by 24.1% year-on-year to 4.31 billion yen; operating profit rose by 41.3% to 1.125 billion yen; ordinary profit grew by 38.1% to 1.132 billion yen; and the quarterly net income attributable to shareholders increased by 46.6% to 0.831 billion yen.

Revenue from the medical business was 4.086 billion yen, an increase of 23.1% year-on-year, and operating profit was 1.199 billion yen, a 34.4% increase. During the cumulative period for the third quarter, 38 hospital projects and 90 clinic projects were newly introduced or added, along with system updates. Additionally, maintenance services and consulting services also progressed smoothly. Despite increased personnel costs, the rise in revenue from large projects absorbed the cost increase. In addition to traditional on-premise products, R&D is being promoted to expand cloud play represented by the "PiCls" brand. The subsidiary Fitting Cloud, which focuses on providing cloud solutions and medical AI technology, aims to expand the solution "CocktailAI," which uses generative AI to streamline physician tasks, and is working on integration with products other than DocuMaker and also with products from other companies.

Revenue from the public business was 0.197 billion yen, an increase of 75.8% year-on-year, and operating profit was 0.059 billion yen, up 527.5%. The main product is the document management and electronic approval system "DocuMaker Office," which supports DX in the public sector. During the cumulative period for the third quarter, 12 packages for local governments and 4 packages for medical institutions were operational. As the number of users increased, monthly usage fee revenue stabilized, leading to an increase in both revenue and profit. The success of previously operational packages in local governments, such as prefectural offices, helped acquire 2 new direct sales projects and 8 new agency projects in this third quarter. Moreover, the demand for business document management systems in compliance with public documents in medical institutions has significantly increased, and high-accuracy business negotiations are ongoing. Since the service launch, a total of 39 packages for local governments and 9 packages for medical institutions have been operational. The total number of users for this system has reached approximately 34,000. Of these, the number of users with monthly subscriptions has surged by 34% compared to the end of the fiscal year 2023 to 7,650. Also, there have been no cancellations since the service started.

Revenue from the health tech business decreased by 36.4% to 0.026 billion yen, and operating loss was 0.132 billion yen (compared to a loss of 0.105 billion yen in the same period last year). The main reasons for the decrease in revenue and profit include a decline in the number of units shipped compared to the previous year and increased personnel costs due to raises and hiring. The main products, the gaze-analysis perimetry "GAP" and "GAP-screener," are affordable, groundbreaking wearable devices that use an entirely different approach than traditional testing methods to measure the field of vision, contributing to an improved rate of early detection of retinal diseases such as glaucoma, which often shows few initial symptoms. The number of passengers carried for these products in the domestic market during the cumulative period for the third quarter was 8 units.

For the consolidated performance forecast for the fiscal year ending December 2024, the initial plan remains unchanged, with revenue projected to increase by 11.4% year-on-year to 5.782 billion yen, operating profit expected to rise by 5.2% to 1.574 billion yen, ordinary profit predicted to increase by 4.2% to 1.591 billion yen, and net income attributable to shareholders expected to grow by 3.6% to 1.097 billion yen.