Recurring SaaS Revenue BaseA subscription-driven SaaS model creates recurring revenue and higher customer lifetime value, providing predictable cash flow and opportunities to upsell consulting and transaction services. That structural revenue mix supports stability and planning over the next several quarters.

Niche Cannabis Compliance FocusSpecialization in cannabis supply-chain and compliance addresses a complex, highly regulated niche with higher switching costs. This domain expertise and compliance tooling can create durable customer stickiness and long-term relationships as operators standardize systems.

Conservative Reported Leverage In 2025A zero-debt balance at the latest annual period reduces near-term interest and refinancing pressure, preserving liquidity optionality. That conservative leverage position helps the firm weather continued operating losses while pursuing product development or strategic partnerships.

Bears Say

Persistent Negative Cash GenerationMulti-year negative operating and free cash flow denote structural cash burn, increasing reliance on external funding and reducing financial flexibility. Over a 2–6 month horizon this constrains investment in product, sales, and customer retention, raising solvency risk if funding is tight.

Sharp Revenue Collapse In 2025A pronounced year-over-year revenue collapse undermines the SaaS recurring base and indicates deteriorating demand or elevated churn. Reduced recurring revenue weakens unit economics, pressures margins, and makes near-term recovery dependent on successful re-acquisition or new product traction.

Deepening Losses And Negative MarginsWorsening profitability and heavily negative margins signal the business is not converting revenue into sustainable earnings. Persistent deep losses erode equity returns, force dilution through fundraising, and limit the firm's ability to self-fund growth or R&D over the medium term.

2345 FAQ

What was Kushim,Inc.’s price range in the past 12 months?

Kushim,Inc. lowest stock price was ¥159.00 and its highest was ¥377.00 in the past 12 months.

What is Kushim,Inc.’s market cap?

Kushim,Inc.’s market cap is ¥3.75B.

When is Kushim,Inc.’s upcoming earnings report date?

Kushim,Inc.’s upcoming earnings report date is Mar 18, 2026 which is in 30 days.

How were Kushim,Inc.’s earnings last quarter?

Kushim,Inc. released its earnings results on Dec 15, 2025. The company reported -¥17.55 earnings per share for the quarter, missing the consensus estimate of N/A by -¥17.55.

Is Kushim,Inc. overvalued?

According to Wall Street analysts Kushim,Inc.’s price is currently Overvalued. Get more investment ideas with TipRanks Premium

Does Kushim,Inc. pay dividends?

Kushim,Inc. pays a Annually dividend of ¥7 which represents an annual dividend yield of N/A. See more information on Kushim,Inc. dividends here

What is Kushim,Inc.’s EPS estimate?

Kushim,Inc.’s EPS estimate for its next earnings report is not yet available.

How many shares outstanding does Kushim,Inc. have?

Kushim,Inc. has 18,608,732 shares outstanding.

What happened to Kushim,Inc.’s price movement after its last earnings report?

Kushim,Inc. reported an EPS of -¥17.55 in its last earnings report, missing expectations of N/A. Following the earnings report the stock price went down -2.392%.

Which hedge fund is a major shareholder of Kushim,Inc.?

Currently, no hedge funds are holding shares in JP:2345

What is the TipRanks Smart Score and how is it calculated?

Smart Score combines eight research factors - such as analyst recommendations, hedge fund trends, and technical indicators - to measure a stock’s outlook. These signals are unified into a single score that reflects bullish or bearish momentum. See detailed methodology

Company Description

Kushim,Inc.

Kushim, Inc. engages in the blockchain service, system engineering, and incubation businesses in Japan. It offers development of systems that applied advanced IT technology; research aimed at social implementation of advanced IT technology; blockchain technology research services; and development and sales of educational content related to blockchain technology. The company provides system engineering services including planning, requirements definition, design, testing, and operation and maintenance, as well as investments and loans to corporations and projects. In addition, it undertakes management and various consulting for commercialization, project promotion, and support incubation. Further, the company is involved in the training services for advanced IT engineers, and introduction and dispatch business. The company was formerly known as iStudy Co., Ltd. and changed its name to Kushim, Inc. in May 2020. Kushim, Inc. was incorporated in 1997 and is based in Tokyo, Japan.