Reports 44% revenue decline and increased losses for FY2026 (Japanese GAAP); warns of material differences in upcoming US GAAP 20-F; details 54% potential dilution from options.
PDC has more than doubled off its 52-week low of $1.64.
Summary
Perpetuals.com Ltd reported a sharp decline in sales and increased losses for FY2026 under Japanese GAAP, with a critical warning that these figures may change significantly in the upcoming U.S. GAAP audited report, alongside detailing highly dilutive stock option grants.
Key Events · Earnings and Guidance · PDC
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Significant Financial Decline
Reported a 44.1% decrease in net sales to 245 million yen and increased net loss to 433 million yen for the fiscal year ended April 30, 2026 (Japanese GAAP, non-consolidated).
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GAAP Discrepancy Warning
Explicitly warned that these Japanese GAAP figures may differ materially from the upcoming audited consolidated U.S. GAAP results in its Form 20-F, advising against undue reliance.
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High Potential Dilution from Options
Detailed multiple stock option grants totaling 47.2 million shares, representing over 54% potential dilution to current outstanding shares.
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Historical Capital Raise
Noted the completion of a $7.08 million private placement in late 2025, which helped regain Nasdaq compliance and strengthened the financial base.
Analysis · PDC · Technology
Perpetuals.com Ltd reported a 44.1% decline in net sales and increased operating and net losses for the fiscal year ended April 30, 2026, based on non-consolidated Japanese GAAP. This reinforces the challenging financial position previously indicated by a 'going concern' warning. The company explicitly cautioned that these figures may differ materially from the upcoming audited consolidated U.S. GAAP results in its Form 20-F, adding significant uncertainty for investors. Additionally, the filing details extensive stock option grants totaling 47.2 million shares, representing over 54% potential dilution to existing shareholders, which could create substantial future overhang.
How filings like this one have moved
In the 30 days to Oct 18, 2026, 37.5% of the 944 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.75%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PDC was trading at $5.93 on NASDAQ in the Technology sector, with a market capitalization of approximately $17.8M. The 52-week trading range was $1.64 to $10.50. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.