Moi Corp., a Japanese live-streaming platform, reported a 44.6% jump in net income to 155 million yen ($1.1 million) for the first nine months of fiscal 2024, driven by growth in its membership business despite a slight decline in its user base.
Operating profit climbed 41.9% to 183 million yen in the February-October period, while revenue increased 2.1% to 4.93 billion yen. The company maintained its full-year forecast for sales of 6.54 billion yen and operating profit of 165 million yen.
The streaming service provider saw its average monthly paying users drop 2.8% to 73,000, resulting in a 0.6% decrease in points sales to 4.43 billion yen. However, the average revenue per paying user rose 2.2% to 6,724 yen, helping offset the decline in the user count.
Gross profit, calculated after deducting creator payments and payment processing fees, grew 3.6% to 1.33 billion yen, primarily due to continued expansion of the membership business.
The company withheld its net income forecast for the full year ending January 2025, citing the need for additional time to assess potential deferred tax assets.
