ENVALITH
株式会社visumo logo

visumo Inc.

303A・Growth Market・Information & Communication

株式会社visumo logo
visumo Inc.303A

Business

visumo, Inc. operates as a single-business company under the mission of "delivering information that creates empathy and trust as the optimal experience," developing and providing the SaaS-based platform "visumo" that supports corporate marketing activities. It collects and manages SNS posts (UGC) from Instagram, YouTube, TikTok, and other platforms, product reviews, in-store staff posts, and video content, enabling no-code, one-tag implementation on companies' EC sites and brand sites. Its main customers are EC operators centered on apparel, food, and beauty/cosmetics, with expansion underway into non-EC areas such as tourism, manufacturing, and local governments. In January 2026, the company absorbed ReviCo Co., Ltd. through merger, incorporating the review domain to strengthen its UGC utilization infrastructure. The company listed on the Tokyo Stock Exchange Growth Market in December 2024.

Business Model

Net sales consist of "stock revenue (base)", "stock revenue (volume-based)", "flow revenue", and "spot revenue". In FY2026 (ending March 2026), stock revenue amounted to ¥933 million, accounting for 95.9% of total sales, of which stock revenue (base), the fixed monthly fee component, was ¥802 million (82.4% of sales). The structure adds volume-based charges according to the number of requests and CDN traffic, and the churn rate has been maintained at around 1%, providing high revenue stability. In addition to direct sales, the company also utilizes an agency channel with partners such as e-commerce site builders and marketing support providers.

Company Strengths

The number of active companies in Q4 FY2026 (ending March 2026) reached 891, a substantial increase from 676 in the same period a year earlier. The churn rate (gross revenue churn rate) has remained at roughly 1% across quarters, supported by a robust customer success framework and usage support tailored to each client, underpinning the high retention rate.

No-code, one-tag implementation requiring no specialized development knowledge enables short-term deployment. ReviCo's mechanism for distributing review request emails with gift campaigns has been patented (Patent No. 7588912), functioning as a differentiating feature that is difficult for competitors to replicate.

In January 2026, the company absorbed ReviCo Co., Ltd. (revenue of ¥177 million, net assets of ¥125 million) through merger, building a primary data foundation spanning SNS posts, videos, and reviews. Following the merger, software assets of ¥310 million were inherited, completing the infrastructure development aimed at cross-selling and ARPU improvement.

ENVALITH's Perspective

In FY2026 (ending March 2026), the company achieved increased revenue and profit, with net sales of ¥973 million (up 17.4% year on year), operating profit of ¥81 million (up 2.2%), and net income of ¥72 million (up 48.7%). However, the forecast for FY2027 (ending March 2027) calls for net sales of ¥1,352 million (up 38.9%), while operating profit is projected to fall sharply to ¥30 million (down 63.3%) and net income to ¥21 million (down 71.1%), as the company enters a phase where cost increases associated with development investment and AI solution investment squeeze profits. The timing of the investment payback and whether growth acceleration can be realized will be the focal points of the assessment.

Cost of sales increased from ¥271 million in the previous period to ¥384 million, and the cost of sales ratio rose from 32.7% to 39.5%. Cash flow from investing activities doubled to an outflow of ¥219 million (from ¥107 million in the previous period), mainly due to acquisition of intangible fixed assets (¥171 million) and lease deposits paid (¥45 million). While operating cash flow secured ¥155 million, free cash flow turned negative, and maintaining financial discipline will be a challenge given the continuation of development investment in the next fiscal year. A new long-term borrowing of ¥100 million was also confirmed.

As a single-segment marketing platform business, the company's structure remains one that is directly susceptible to the effects of specification changes on SNS platforms and intensifying competition. The merger with ReviCo was accounted for as a transaction under common control, and the realization of integration synergies (cross-selling, increased customer unit price) needs to be verified through the revenue composition and customer count KPIs from the next fiscal year onward. As for the external environment, the trend toward selective IT investment driven by price increases and uncertainty in the international situation continues to warrant close monitoring as a headwind factor.

Growth Strategy

Accelerating growth through three pillars: ReviCo integration synergies, AI solution expansion, and new customer acquisition

The company absorbed ReviCo through a merger effective January 1, 2026, providing UGC utilization and review/word-of-mouth functions in an integrated manner. It aims to expand the value provided through both cross-selling to existing customers and acquisition of new customers, thereby improving ARPU. The integration of the customer base and functional infrastructure resulting from the merger has been completed.

The company has positioned the development and expansion of AI solutions utilizing accumulated UGC data as a strategic investment for the next fiscal period. It will continue development investment toward FY2027 (ending March 2027), accepting increased costs, with the aim of establishing new revenue sources. Intangible fixed assets (software) have accumulated to ¥444 million, and the development infrastructure is being expanded.

While deepening its presence in the EC domain, the company continues to expand adoption in non-EC markets such as tourism, manufacturing, and educational institutions. It is pursuing upselling to existing customers and acquisition of new customers in parallel, aiming to stabilize its revenue base by building up stock-type sales. In FY2026 (ending March 2026), the company achieved steady growth with net sales up 17.4%.

The company decided to relocate its office in connection with the ReviCo merger and made a security deposit payment of ¥45 million. A change in accounting estimate associated with a revision of the useful life of building fixtures reduced net income for the period by ¥3 million, but the company is proceeding with the development of its organizational infrastructure following the integration.

Last updated: July 19, 2026