SUSMED,Inc. (4263) AI Stock Analysis

• Market Cap: ¥15.59B
• Dividend Yield: N/A
• Average Volume (3M): 121.17K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.15
• Revenue Growth: 39.30%
• EPS Growth: 32.06%
• Country: JP
• Employees: 39
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Healthcare Information Services
• EPS (TTM): N/A
• Shares Outstanding: 16,868,100
• 10 Day Avg. Volume: 117,240
• 30 Day Avg. Volume: 121,170
• PEG Ratio: 2.02
• Price to Book (P/B): 2.35
• Price to Sales (P/S): 22.16
• P/FCF Ratio: -23.49
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 49 Neutral
• Price Target: ¥919.00 ▲(11.94% Upside)
• Action: Reiterated Date: 03/05/26
• Date: Action: Reiterated 03/05/26

The score is primarily held back by heavy losses and accelerating cash burn, despite strong gross margins. A debt-free balance sheet provides an important cushion, while technical indicators are mixed (some positive momentum but weak positioning vs short-term moving averages). Valuation remains pressured due to negative earnings and no dividend yield provided.

Positive Factors

Debt-free balance sheet

A debt-free balance sheet with substantial equity provides durable financial flexibility. It reduces refinancing and interest risk, serves as a cushion while the company addresses cash burn, and allows management to fund R&D or operations without immediate external leverage.

Exceptionally high gross margins

Near-97% gross margins indicate strong unit economics consistent with software or digital-health services. High margins create scalable operating leverage: as revenue grows, incremental contribution to profitability is large, supporting a durable path to operating profitability if OPEX growth is controlled.

Revenue growth momentum

A return to revenue growth after a prior decline, plus high reported multi-period growth metrics, suggests the business can reaccelerate adoption. Sustained top-line growth supports scale, better fixed-cost absorption, and is a lasting fundamental lever for improving margins over months.

Negative Factors

Deep net losses

Persistently large net losses indicate the company remains far from profitable and must materially cut costs or increase revenue to reach breakeven. Extended losses erode equity, limit reinvestment capacity, and force reliance on financing or dilution absent a durable turnaround.

Accelerating cash burn

Worsening negative operating and free cash flows show the business is consuming cash at an accelerating rate. This structural cash burn raises liquidity risk over months, increases dependency on external capital, and constrains strategic choices unless cash generation reverses.

Negative returns and eroding equity

Negative ROE and declining equity reflect that investments have not generated shareholder returns and that losses are depleting the balance sheet. Over time this hampers ability to self-fund growth, raises governance scrutiny, and increases the likelihood of future capital raises or dilution.

SUSMED,Inc. Business Overview & Revenue Model

Company Description

SUSMED, Inc. develops and sells therapeutic applications in Japan. It develops smartphone based digital therapeutics applications for diseases with insomnia, breast cancer, and kidney disease. The company also develops and sells development platform for therapeutic apps and clinical trial systems. In addition, it offers medical data analysis and consulting services. The company was incorporated in 2015 and is headquartered in Tokyo, Japan.

How the Company Makes Money

SUSMED, Inc. generates revenue primarily through the development and commercialization of its digital therapeutic applications. The company partners with healthcare providers, insurance companies, and other stakeholders in the medical field to distribute its products. Revenue streams include licensing fees for the use of its technology, subscription fees from users, and collaborations with pharmaceutical companies for research and development of new therapeutic solutions. Additionally, SUSMED may engage in partnerships to expand its reach and integrate its offerings with existing healthcare systems, thereby enhancing its market presence and revenue potential.

SUSMED,Inc. Financial Statement Overview

Summary

Strong balance sheet with no debt supports stability, and revenue returned to growth with exceptionally high gross margin (~97%). However, the overall profile is constrained by deep net losses (about -64% net margin in 2025) and worsening negative operating/free cash flow in 2025, keeping financial risk elevated despite the low leverage.

Income Statement

Revenue is growing again in 2025 (+2.33% YoY) after a decline in 2024, and gross margins remain exceptionally high (about 97% in 2025), indicating strong unit economics. However, the company is still deeply unprofitable: 2025 net margin is roughly -64% (improving from about -104% in 2024, but far worse than 2023’s ~-10%). EBIT and EBITDA remain meaningfully negative, showing costs are still not scaling well versus revenue.

Balance Sheet

The balance sheet is a clear strength with zero reported debt across the period and sizable equity (about 4.37B in 2025), which lowers financial risk and provides flexibility to fund operations. That said, persistent losses keep returns on equity negative (about -6.8% in 2025), and equity has drifted down from 2023–2025, consistent with ongoing burn.

Cash Flow

Cash generation is weak: operating cash flow and free cash flow are negative in 2025 (-432M and -437M), worsening versus 2024 and reversing the positive cash flow seen in 2023. While free cash flow roughly tracks net losses (free cash flow to net income near 1x in 2025), the key issue is the direction—cash burn is increasing, which can pressure liquidity over time if not corrected.

Breakdown	Jun 2024	Jun 2023	Jun 2022	Jun 2022	Jun 2021
Income Statement
Total Revenue	462.99M	342.58M	530.65M	316.87M	115.49M
Gross Profit	450.72M	330.85M	522.67M	306.50M	105.73M
EBITDA	-289.22M	-358.99M	-43.99M	-228.00M	-333.31M
Net Income	-298.40M	-357.42M	-50.75M	-233.48M	-277.55M
Balance Sheet
Total Assets	4.50B	4.93B	5.10B	4.94B	1.67B
Cash, Cash Equivalents and Short-Term Investments	4.40B	4.85B	5.05B	4.90B	1.63B
Total Debt	0.00	0.00	0.00	0.00	0.00
Total Liabilities	132.33M	327.79M	230.33M	93.34M	97.20M
Stockholders Equity	4.37B	4.60B	4.87B	4.85B	1.58B
Cash Flow
Free Cash Flow	-436.79M	-240.04M	82.40M	-177.90M	-239.49M
Operating Cash Flow	-432.48M	-230.76M	100.59M	-165.28M	-235.09M
Investing Cash Flow	-19.97M	-8.53M	-18.19M	-20.36M	-4.40M
Financing Cash Flow	3.67M	37.37M	62.36M	3.46B	1.50B

SUSMED,Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 821.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4263, the sentiment is Positive. The current price of 821 is below the 20-day moving average (MA) of 1009.65, below the 50-day MA of 950.16, and below the 200-day MA of 833.76, indicating a bullish trend. The MACD of 31.10 indicates Negative momentum. The RSI at 57.11 is Neutral, neither overbought nor oversold. The STOCH value of 75.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4263.

SUSMED,Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2413	70 Outperform	¥1.11T	18.91	12.15%	1.01%	33.50%	17.26%
3902	63 Neutral	¥65.55B	228.03	―	0.39%	6.17%	-8918.66%
4483	63 Neutral	¥256.17B	26.76	―	0.43%	20.55%	48.62%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
4480	51 Neutral	¥58.33B	77.03	8.79%	―	31.95%	-40.95%
4438	51 Neutral	¥3.70B	-4.28	―	―	16.19%	-4.42%
4263	49 Neutral	¥15.59B	-23.39	―	―	39.30%	32.06%