Core Insights - MEDIROM Healthcare Technologies Inc. reported total revenue of $52,736,000 for the year ended December 31, 2024, representing a 22% increase from $43,388,000 in 2023 [1] - The net income for 2024 was $878,000, or $0.17 per basic share, a 20% improvement compared to $731,000, or $0.15 per basic share, in 2023 [1] Revenue Growth - The revenue growth in 2024 was primarily driven by a 23% increase in the Relaxation Salon Segment revenue, which reached $47,317,000 compared to $38,507,000 in 2023 [2] Cost Management - The increase in net income was attributed to a rise in total revenue, a decrease in the cost of revenues as a percentage of total revenues to 72.9% in 2024 from 77.0% in 2023, and a reduction in selling, general, and administrative expenses as a percentage of total revenues to 27.0% in 2024 from 28.7% in 2023 [3] Financial Position - As of December 31, 2024, MEDIROM had cash and cash equivalents of $2,093,000, up from $676,000 as of December 31, 2023 [4] - The total indebtedness increased to $11,925,000 in 2024 from $9,857,000 in 2023 [4] Cash Flow Analysis - Net cash used in operating activities was $8,462,000 in 2024, compared to $4,014,000 in 2023 [5] - Net cash provided in investing activities was $2,296,000 in 2024, while there was net cash used of $2,088,000 in 2023 [5] - Net cash provided by financing activities was $7,583,000 in 2024, an increase from $2,931,000 in 2023 [5] Strategic Developments - In 2025, MEDIROM announced the launch of its remote health monitoring system, REMONY, and the MOTHER Bracelet, targeting corporate clients [6] - The company aims to capture a significant share of the Japanese relaxation salon market and expand its Digital Preventative Healthcare business lines [6]
MEDIROM Healthcare Technologies Inc. Announces 22% Rise in Revenue and 20% Improvement in Earnings for 2024; Webcast to Discuss Financial Results to be held on May 21st, 2025 at 8:30 AM ET