Geechs revenue rises 5.2% with strong growth in overseas IT staffing
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Geechs Inc. (7060:TYO), a Tokyo-based firm that provides IT staffing, reported revenue on 14 February of JPY 18.70 billion (USD 123.3 million) for the nine months ended 31 December 2024. Revenue increased by 5.2% over the previous year.
(JPY millions) | 9 months 2024 | 9 months 2023 | Change | 9 months 2024 (USD millions) |
Revenue | 18,705 | 17,787 | 5.2% | 123.3 |
Gross Profit | 2,630 | 3,119 | -15.7% | 17.3 |
Gross Margin | 14.0% | 17.5% | - | - |
EBITDA | 440 | 263 | 66.9% | 2.9 |
Operating Profit | 348 | 57 | 502.7% | 2.2 |
Net Income | 261 | -103 | - | 1.7 |
Geechs is mainly engaged in information technology (IT) staffing business and games business.
Revenue in the IT human resources business (domestic) business reported revenue growth of 8.6%.
The IT human resources business (overseas) saw a revenue uptick of 30.1%.
In the ‘seed tech’ business, the company is engaged in a business centred on the development of IT human resources. Revenue was up 17.3% when compared to the same period a year ago.
The other business includes Geech’s x-Tech business, which provides digital marketing support and D2C support (direct-to-consumer), mainly in the field of golf and other sports. Revenue was down 36.6%.
Looking ahead the company forecasted revenue of JPY 26.30 billion (USD 173.4 million) for the year ended 31 March 2025.
Geechs shares closed on 14 February at JPY 369.00 (USD 2.43), no change on the day. The company has a market cap of JPY 3.92 billion (USD 25.8 million).