Mobilus Corporation

Business Details

Mobilus Inc. (including consolidated subsidiary vottia Inc.) provides SaaS products such as chat, voice bots, and operator-support AI for contact centers, as well as Professional Services including consulting and custom development. The company operates through three channels—direct sales, agencies, and OEM—serving large enterprises across a wide range of industries including finance, manufacturing, and government. The company forecasts full-year sales of ¥2,298 million for FY2026 (ending August 2026) (up 23.9% year on year), and is currently in an upfront investment phase.

Recent Overview

Net sales increased 18.5% year on year, but the consolidated operating loss widened due to expanded upfront investment

Consolidated net sales for the cumulative first three quarters of FY2026 (ending August 2026) (September 2025–May 2026) were ¥1,565 million (up 18.5% year on year). Professional Services grew 31.4% year on year, driven by expanded chat solution sales through agencies and MooA implementation projects. Meanwhile, selling, general and administrative expenses expanded to ¥1,066 million (from ¥840 million in the same period prior year), and the company fell into a consolidated operating loss of ¥77 million (versus an operating profit of ¥44 million in the same period prior year). ARR declined slightly from ¥1,472,666 thousand at the end of Q2 to ¥1,459,033 thousand, and the number of contracts also decreased slightly to 304. There has been no change to the full-year earnings forecast (net sales of ¥2,298 million, operating loss of ¥110 million), and the progress rate for cumulative Q1–Q3 net sales against the full-year forecast was 68.1%.

Key Products

Growth Drivers

• Expansion of chat solution sales through the agency channel (agency-related ARR as of the end of Q3, FY2026 ending August 2026, was ¥507,348 thousand, up 26.4% from the end of Q3 of the prior fiscal year)
• Continued increase in average revenue per contract driven by larger new deals and upsell/cross-sell (¥325 thousand, up ¥38 thousand year on year)
• Capturing demand for operator-support AI and increasing custom development projects through expanded adoption of MooA (a generative-AI-related product)
• High growth in Professional Services (up 31.4% year on year) driven by an increase in paid customer success projects
• New expansion into the consumer-facing automated response domain through vottia's AI agent "maestra"
• Continued expansion of demand for contact center efficiency and automation amid labor shortages and cost-reduction pressures at domestic companies

Risks

• Risk that continued loss recognition from upfront investment at consolidated subsidiary vottia Inc. will widen the consolidated operating loss (consolidated operating loss of ¥77 million for cumulative Q1–Q3 of FY2026 ending August 2026, with the gap versus non-consolidated operating profit of ¥33 million widening)
• ARR turned to a decline, falling from ¥1,472,666 thousand at the end of Q2 to ¥1,459,033 thousand at the end of Q3, signaling an emerging risk of growth deceleration
• The number of SaaS product contracts is on a slight downward trend at 304 (96.2% of the prior-year level), and the churn rate has also risen slightly to 0.75%
• Risk that a cost structure in which sales growth does not translate into profit, due to a sharp increase in selling, general and administrative expenses (up 26.9% year on year)
• Risk of intensifying competition and technological obsolescence amid the rapid evolution of generative AI technology
• Risk of intensifying price competition with other companies in the contact center SaaS market
• Risk of constraints on the development organization due to difficulty in securing and training skilled engineering talent