Timee full-year revenue and profits rally
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Timee (TYO: 215A), a Japan-based company which operates a staffing platform focused on part-time jobs, reported revenue of JPY 26.88 billion (USD 175.1 million) for the full year ended 31 October 2024, up 66.5% when compared to the same period a year ago.
In June, it was reported that the company was targeting a listing in July on the Tokyo Stock Exchange. The startup, founded in 2017, said it was aiming for a valuation of roughly USD 1 billion, which it achieved, though the current market cap is slightly under that (see below). The company subsequently listed on 26 July 2024.
(JPY millions) | FY 2024 | FY 2023 | Change | FY 2024 (USD millions) |
Revenue | 26,880 | 16,144 | 66.5% | 175.1 |
Operating profit | 4,247 | 1,957 | 117.0% | 27.6 |
Gross profit | 25,606 | 15,472 | 65.5% | 166.8 |
Gross margin | 95.2% | 95.8% | - | - |
Net income | 2,797 | 1,802 | 55.2% | 18.2 |
Looking ahead, the company forecasted revenue in the range of JPY 34.39 billion to 35.70 billion (USD 224.0 million to 232.6 million) (growth rate of 27.9% to 32.8%) for the full year ended 31 October 2025.
Timee shares closed on 12 December at JPY 1,190 (USD 7.75), up 1.10% on the day. The company has a market cap of JPY 144.71 billion (USD 942.81 million).