every, Inc. FY2026 Full-Year Earnings Deep Dive: Breakthrough in Core Business and Achievement of Structural Profitability

every, Inc. (Securities Code: 607A) , the operator of the food lifestyle platform "DELISH KITCHEN," has announced its financial results for the fiscal year ended June 2026. This report provides a multi-faceted analysis and detailed commentary on the company's performance highlights, qualitative shifts in its revenue structure, robust competitive advantages, and future growth strategies, based on the released earnings presentation materials.

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1. Full-Year Earnings Summary: Long-Awaited Profitability and Structural V-Shaped Recovery

For the fiscal year ended June 2026, the company reported net sales of 5,025 million yen (+18.2% YoY) , an operating profit of 324 million yen (compared to an operating loss of 24 million yen in the previous year) , an ordinary profit of 318 million yen (compared to an ordinary loss of 30 million yen in the previous year) , and a net profit of 424 million yen (compared to a net loss of 32 million yen in the previous year) , marking a successful turnaround to full-year profitability .

Net sales reached 100.2% of the initial full-year forecast (5,016 million yen), landing exactly as planned. While operating and ordinary profits fell slightly short of forecasts due to higher costs resulting from changes in the sales mix of solutions with varying gross margins, they maintained a high level consistent with the overall plan. Furthermore, following a careful review of the recoverability of deferred tax assets based on performance trends, the company recorded 109 million yen in deferred tax assets , resulting in a net profit that significantly exceeded the full-year forecast (331 million yen).

The following slide illustrates the company's net sales and operating profit/loss trends over the past several years.

[Why this slide is important]

This slide dramatically demonstrates that every's performance is not merely a temporary improvement but has reached a "structural turning point." The operating loss, which stood at 1,364 million yen in the fiscal year ended June 2021, has consistently narrowed as sales expanded, finally achieving a profit turnaround of 324 million yen in the fiscal year ended June 2026. It is clear at a glance that as top-line growth accumulated marginal profit, it surpassed fixed selling, general, and administrative (SG&A) expenses, signaling a transition into a full-scale profit expansion phase .

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2. The Driving Force: "Marketing Solution Business" and Royal Customer Strategy

The primary engine behind the company's performance expansion is the Marketing Solution business , which provides solutions to advertisers such as food and beverage manufacturers.

• Net Sales : Recorded a robust growth rate of 4,032 million yen (+28.2% YoY) , growing to account for over 80% of total company sales.
• Quantity and Quality of Customer Base : While the total number of customers reached 635 , there has been a notable increase in "Royal Customers" (customers with an annual spend of 10 million yen or more) , which the company identifies as a key performance indicator (KPI).

Details on the trends in the number of Royal Customers and their contribution to sales are summarized in the following slide.

[Why this slide is important]

This slide provides critical data that unlocks the "mechanism of sales growth" in the Marketing Solution business. The number of Royal Customers expanded from 62 in the previous year to 80, a 29.0% increase YoY . Consequently, sales from Royal Customers surged to 3,270 million yen (+37.8% YoY) . Furthermore, the progress in converting clients into Royal Customers raised the average customer unit price to 6.3 million yen (+18.7% YoY) . Quantitative data confirms that the company is successfully deepening regular transactions with advertisers (maximizing LTV) rather than relying on one-off spot advertising.

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3. every's Strengths: Large-Scale Platform and Food Lifestyle Big Data

every's competitive advantage lies in its integrated platform foundation and data ecosystem, which are not easily replicated by competitors.

Overwhelming Platform Scale (Platform KPIs)

• MAU (Combined App & Web) : Over 31 million
• SNS Followers : Over 13 million (Instagram, YouTube, TikTok, X, etc.)
• Professional Content & Recipe Ratings : Over 57,000 pieces of content supervised by registered dietitians, with a user rating of 4.4 / 5.0
• In-store Digital Signage Units : Over 11,300 units nationwide

Big Data Integrating Online and Offline

The company accumulates and analyzes not only online data such as "search/browsing history," "user attributes," and "recipe preferences" but also offline data including "in-store signage viewing data" and "ID-POS/physical store purchase data." This allows the company to identify the entire food purchasing moment of consumers, from "awareness" to "menu planning" and "purchase."

For advertisers, the company provides unique solutions that not only increase awareness but also quantitatively and highly accurately visualize and verify "whether it led to actual purchases."

[Why this slide is important]

This slide proves the "overwhelming differentiator" that keeps every's advertising solutions chosen by corporate clients. Through analysis using actual purchase data (POS data) from food supermarkets in the Tokyo metropolitan area, it was verified that 80% of the company's delivered campaigns resulted in sales growth (sales lift) after delivery. The average sales lift for all campaigns reached 121% (with pre-delivery sales as 100), showing a performance 17 points higher than the overall category to which the relevant products belong. The ability to prove "sales effectiveness" with objective data strongly supports the conversion of major food manufacturers into Royal Customers.

Successful Tie-up Examples

• Ajinomoto Co., Inc. : Conducted an SNS tie-up campaign promoting year-round use of "Nabe Cube." Recorded over 10.7 million total SNS views , and sales during the target period reached 110% compared to the same month of the previous year .
• Riken Vitamin Co., Ltd. : Implemented a combined SNS tie-up and in-store store vision advertisement for "Sozai-ryoku Dashi." Compared to stores without the display, sales at stores featuring the tie-up ads grew to 131% .

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4. Analysis of Revenue Structure and Operating Leverage

Another major topic in the company's financials this period is the strict control of SG&A expenses and the effect of operating leverage .

• SG&A Trends : Total quarterly SG&A expenses for the last three fiscal years (FY2024–FY2026) have remained largely flat at around 650–700 million yen . A culture of properly managing personnel and fixed costs without excessive advertising spend has taken root.
• Decline in SG&A-to-Sales Ratio : As the top line (net sales) grew while SG&A remained flat, the SG&A-to-sales ratio improved significantly from over 70% in FY2024 to the high 50% range in FY2026 (dropping to 48% in Q2) .
• Consistent Quarterly Operating Profit : Quarterly operating profit for FY2026 was positive in all quarters: Q1 (36 million yen), Q2 (207 million yen), Q3 (79 million yen), and Q4 (1 million yen). This demonstrates that the full-year profitability is not due to temporary factors but is the result of a structural shift toward generating profit.

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5. Status of Other Business Segments

In addition to the core Marketing Solution business, other segments have shown stable performance.

• Consumer Business : Operates in-app premium membership services. Driven by steady growth in paid subscribers, sales reached 479 million yen (+10.0% YoY) , maintaining steady growth.
• Other Businesses : Primarily contract production and development. Due to factors such as a decrease in transactions with the KDDI Group, sales were 513 million yen (▲23.4% YoY) , but this was more than covered by the rapid growth of the core business.

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6. Future Growth Strategy and FY2027 Earnings Forecast

every plans to accelerate growth by strengthening its retail media strategy and leveraging technology.

Mid-to-Long-Term Growth Story

1. Expansion of Retail Media Partnerships : Through close alliances with major food wholesalers such as Kato Sangyo, Itochu-Shokuhin, and Kokubu Group, the company will promote the installation of digital signage and shelf-linked promotions in retail stores nationwide.
2. Further Development of Royal Customers : Enhance the value of effectiveness measurement solutions based on actual purchase data (KSP-POS linked analysis, etc.) to promote the expansion of advertising slots for major food, beverage, and consumer goods manufacturers.

FY2027 Full-Year Earnings Forecast

The company's earnings forecast for the fiscal year ending June 2027 is as follows:

• Net Sales Forecast : 5,854 million yen (+16.5% YoY)
• Operating Profit Forecast : 530 million yen (+63.3% YoY)
• Marketing Solution Sales Forecast : 5,305 million yen (+31.6% YoY)

While incorporating the impact of declining sales in other businesses, the core Marketing Solution business is expected to drive total company sales and operating profit with a significant 31.6% YoY increase . With operating leverage continuing to take effect, the company plans to increase the operating profit margin from 6.4% in the previous year to 9.1% .

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7. Conclusion

The fiscal year ended June 2026 was a landmark period for every, Inc., as the "growth of core marketing solutions," "progress in Royal Customer conversion," and "realization of operating leverage through SG&A control" culminated in the achievement of its long-awaited full-year profitability (operating profit of 324 million yen) .

The food lifestyle big data foundation, supported by over 11,300 in-store signage units, 13 million SNS followers, and 31 million MAU, has been established as a highly valuable retail media platform for both manufacturers and retail stores. With double-digit growth in both sales and operating profit expected for the fiscal year ending June 2027, the company's shift from a turnaround phase to a full-scale profit expansion and profitability improvement phase will continue to be a point of focus.