Money Forward (TYO:3994) widened its attributable loss to 6.33 billion yen in the fiscal year ended Nov. 30, 2024, from 6.32 billion yen a year ago mainly due to significant extraordinary losses.

The software company said loss per share narrowed to 116.32 yen from 116.98 yen a year ago, according to a Tuesday filing.

Net sales jumped 32.9% to 40.4 billion yen from 30.4 billion yen a year earlier.

In a separate filing, the company said the extraordinary losses and operating expenses recorded in the fourth quarter led to discrepancies between the forecasted and actual full-year earnings.

The company incurred a total of 192 million yen in extraordinary losses due to the discontinuation of financial service developments linked to its joint venture with Sumitomo Mitsui Card.

Operating expenses reached 115 million yen, partly due to advisory costs related to a tender offer by its subsidiary.

While net sales met expectations, software-as-a-service(SaaS) annual recurring revenue (ARR) fell short, and operating and ordinary profits were below forecast due to various costs.

The company's profit attributable to owners also fell short, due to the extraordinary losses and other financial factors.

Meanwhile, for fiscal 2025, it forecasted net sales to gain between 23.9% and 30.3% to between 50 billion and 52.6 billion yen for the fiscal year ending Nov. 30.

It did not declare or make any dividend payment forecast for the current fiscal year.

Shares of the company plunged nearly 15% in morning trade Wednesday.

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