ispace Widens Balance Sheet as Losses Persist Amid Lunar Growth Push

An announcement from ispace,inc. ( (JP:9348) ) is now available.

ispace reported consolidated net sales of ¥2.74 billion for the first three quarters to December 31, 2025, up 37.9% year on year, while net loss attributable to owners narrowed to ¥6.25 billion as the company continues heavy investment in lunar exploration projects. Total assets nearly doubled to ¥50.8 billion and the equity ratio improved to 32.9%, supported by capital raising that increased shares outstanding, though the company maintained a no-dividend policy.

For the full year to March 31, 2026, ispace forecasts project revenue of ¥6.0 billion and net sales of ¥3.4 billion, but expects a substantial operating loss of ¥10.0 billion and net loss of ¥7.2 billion as it prioritizes growth and mission development over near-term profitability. The revised guidance, disclosed alongside plans for an analyst briefing, signals continued reliance on subsidies and capital markets while the company builds scale and seeks to solidify its competitive position in the commercial lunar services market.

The most recent analyst rating on (JP:9348) stock is a Hold with a Yen642.00 price target. To see the full list of analyst forecasts on ispace,inc. stock, see the JP:9348 Stock Forecast page.

More about ispace,inc.

ispace, inc. is a Tokyo Stock Exchange-listed space company developing commercial lunar exploration and transportation services. It focuses on lunar missions and related technologies, funded through project revenues including government subsidies, positioning itself as a pioneer in Japan’s emerging private space and lunar resource industry.

Average Trading Volume: 1,788,354

Technical Sentiment Signal: Buy

Current Market Cap: Yen94.29B

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