Paper Loss, Real Growth: Metaplanet Projects 80% Revenue Jump
Metaplanet reported a large Bitcoin impairment loss but raised its FY2025 revenue forecast, projecting 80% revenue growth for FY2026.Summary
Tokyo-listed Bitcoin treasury company Metaplanet (TSE: 3350) revised its FY2025 earnings forecast, reporting a ¥104.6 billion Bitcoin impairment loss due to quarterly market-to-market accounting adjustments, which resulted in a net loss but did not affect cash flow.
Despite the accounting loss, the company upgraded its FY2025 revenue forecast by 31% to ¥8.9 billion, driven by strong Bitcoin Income Generation revenue. Metaplanet's Bitcoin holdings dramatically increased nearly 20-fold to 35,102 BTC during FY2025, and the company secured new funding mechanisms like preferred stock and a credit facility.
For FY2026, Metaplanet projects significant growth, forecasting an 80% revenue jump to ¥16 billion, positioning itself as a test case for the Digital Asset Treasury (DAT) model amid skepticism regarding its valuation.
(Source：BeInCrypto)