SUSMED,Inc. (4263) AI Stock Analysis

• Market Cap: ¥16.19B
• Dividend Yield: N/A
• Average Volume (3M): 121.17K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.16
• 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: 55 Neutral
• Price Target: ¥1,077.00 ▲(31.18% Upside)
• Action: Reiterated Date: 03/12/26
• Date: Action: Reiterated 03/12/26

The score is primarily constrained by weak financial performance—large operating losses and increasing cash burn—despite a strong, low-risk balance sheet and very high gross margins. Technicals are a supportive offset (clear uptrend and positive momentum), while valuation remains pressured due to negative earnings and no stated dividend yield.

Positive Factors

Strong balance sheet: zero debt

No reported debt and sizable equity provide durable financial flexibility: lowers refinancing risk, supports funding of operations or R&D during loss-making periods, and gives management time to execute strategic fixes without immediate liquidity pressure.

Very high gross margins (~97%)

Extremely high gross margins indicate strong unit economics and product leverage. This structural advantage supports future profitability once operating expenses are controlled, enabling operating leverage and scalable incremental margins as revenue grows.

Revenue growth resumed in 2025

A return to top-line growth after a prior decline suggests recovery in demand or improved commercialization. Sustained revenue expansion, even modest, combined with high gross margins creates a pathway to positive operating leverage over the medium term if cost trajectory is managed.

Negative Factors

Deep and persistent unprofitability

Large negative net margins reflect structural profitability issues: despite revenue growth and high gross margins, operating costs and overhead remain far above revenue. Persistent losses erode shareholder value and require sustained corrective action or external funding to reach breakeven.

Increasing cash burn

Worsening operating and free cash flow indicate the company is consuming cash quickly. Over months this reduces runway and forces reliance on the balance sheet or new capital; persistent burn increases dilution risk or may compel painful cost reductions that can hinder growth initiatives.

Equity erosion and negative ROE

Negative ROE and declining equity show shareholder value is being eroded by losses. Even with no debt, shrinking equity reduces the capital cushion available for investment or shocks, weakening long-term financial resilience and making future fundraising more dilutive or costly.

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

Publicly verifiable, company-specific detail on SUSMED, Inc.’s revenue model (e.g., breakdown of revenue streams such as software licensing, subscriptions/SaaS fees, implementation and maintenance services, usage-based fees, or other healthcare-related service income), as well as any significant partnerships or key factors driving earnings, is null.

SUSMED,Inc. Financial Statement Overview

Summary

Strong balance sheet (no debt, sizable equity) and exceptionally high gross margin (~97%) are positives, but the overall financial profile is weighed down by deep losses (2025 net margin ~-64%) and worsening cash burn (negative operating and free cash flow in 2025).

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	-291.50M	-358.99M	-42.77M	-227.10M	-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: Positive
• RSI: Neutral
• STOCH: Positive

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 1023.55, below the 50-day MA of 986.72, and below the 200-day MA of 857.82, indicating a neutral trend. The MACD of 6.05 indicates Positive momentum. The RSI at 50.44 is Neutral, neither overbought nor oversold. The STOCH value of 15.33 is Positive, 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	¥1.09T	18.91	12.15%	1.01%	33.50%	17.26%
3902	63 Neutral	¥65.59B	228.03	―	0.39%	6.17%	-8918.66%
4483	63 Neutral	¥214.31B	26.76	―	0.43%	20.55%	48.62%
4263	55 Neutral	¥16.19B	-23.39	―	―	39.30%	32.06%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
4480	51 Neutral	¥57.19B	77.03	5.76%	―	31.95%	-40.95%
4438	50 Neutral	¥2.91B	-4.28	―	―	16.19%	-4.42%