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MRM

MEDIROM Healthcare Technologies Inc.

MRM

MEDIROM Healthcare Technologies Inc. • NASDAQ
$2.03 ▲ 1.00% (+0.02)
Market Cap $10.37 M
52w High $4.45
52w Low $0.34
Dividend Yield 0%
P/E 5.34
Volume 21.70K
Outstanding Shares 5.11M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2024 $4.824B ▲ $1.051B ▼ $730.944M ▲ 15.153% ▲ $68.9 ▲ $828.068M ▲
Q2-2024 $3.475B ▼ $1.213B ▲ $-582.181M ▼ -16.752% ▼ $-118.56 ▼ $-440.572M ▼
Q4-2023 $3.585B ▲ $971.225M ▼ $470.47M ▲ 13.123% ▲ $86.32 ▲ $70.43M ▲
Q2-2023 $3.243B ▼ $1.013B ▲ $-355.066M ▼ -10.949% ▼ $-72.72 ▼ $-209.414M ▼
Q4-2022 $3.807B $834.814M $330.506M 8.682% $54.54 $344.313M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $335.555M ▲ $8.091B ▲ $6.903B ▲ $933.268M ▲
Q2-2024 $144.648M ▲ $5.827B ▼ $6.191B ▼ $-363.201M ▼
Q4-2023 $132.849M ▲ $6.849B ▲ $6.633B ▲ $210.879M ▲
Q2-2023 $117.728M ▼ $6.059B ▼ $6.473B ▼ $-414.444M ▼
Q4-2022 $605.954M $6.747B $6.807B $-59.378M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $720.372M ▲ $-545.961M ▲ $-401.839M ▼ $1.133B ▲ $184.751M ▲ $-1.092B ▼
Q2-2024 $-582.181M ▼ $-785.72M ▼ $381.616M ▲ $60.789M ▼ $144.648M ▲ $-804.415M ▼
Q4-2023 $470.47M ▲ $-21.7M ▲ $-252.114M ▼ $257.274M ▲ $-8.419M ▲ $-101.299M ▲
Q2-2023 $-355.066M ▼ $-610.037M ▼ $175.653M ▼ $-53.342M ▼ $-545.364M ▼ $-666.278M ▼
Q4-2022 $330.506M $-399.314M $503.16M $400.89M $0 $-479.688M

Five-Year Company Overview

Income Statement

Income Statement Revenue has been climbing steadily over the past several years, showing that demand for the company’s services and technology is growing. Profitability has improved from meaningful losses to only very small operating losses, with net profit slightly positive in recent years. This suggests better cost control and operating efficiency, but margins still look thin and not yet firmly established. Overall, the income statement shows a company that has moved out of crisis mode and into early, fragile profitability, with sensitivity to even small changes in costs or sales volumes.

Balance Sheet

Balance Sheet The balance sheet has strengthened from a position of past weakness, with equity turning from negative to clearly positive, which is a good sign for solvency. However, the company still relies heavily on debt financing, and its cash balance looks modest relative to its operations, indicating a limited safety cushion. Assets have grown, reflecting investment in the business, but the capital structure remains somewhat stretched. In short, financial stability is improving but not yet robust, and leverage is a key point to watch.

Cash Flow

Cash Flow Despite reporting small accounting profits, the company continues to burn cash from its core operations, and free cash flow has been consistently negative. This means the business is not yet self-funding and likely depends on lenders or investors to support growth and cover ongoing needs. Capital spending is not excessive, so the main issue is that day‑to‑day operations have not yet converted into reliable cash inflows. Sustained improvement in cash generation is still unproven and remains one of the main financial risks.

Competitive Edge

Competitive Edge The company occupies a distinctive niche by combining a large network of relaxation salons with health-tech products and data services. Its recharge-free health bracelet and remote monitoring platform create a differentiated offering compared with typical wellness or fitness businesses. The salon network gives an on-the-ground presence and direct access to consumers, which many pure software or device competitors lack. At the same time, the company is small compared with global health-tech and wearable players, so scale, brand recognition, and marketing muscle remain structural challenges.

Innovation and R&D

Innovation and R&D Innovation is a central pillar of the strategy, with a strong focus on the proprietary bracelet, remote monitoring systems, and a wellness app ecosystem. The company is experimenting at the frontier of digital health and identity, including partnerships around “proof of human” verification and the use of digital assets to incentivize data sharing. This kind of experimentation can create powerful long-term advantages if it gains traction, but it also brings regulatory, execution, and technology risks. Overall, the R&D and partnership activity suggest a bold, forward-looking posture rather than a conservative, steady-state business model.

Summary

MEDIROM has transitioned from a loss-heavy early phase to modest profitability, supported by rising sales and better cost discipline, but its profits are still thin and not fully backed by cash flow. The balance sheet has healed from negative equity to a more solid footing, though leverage and a relatively small cash buffer keep financial risk elevated. Strategically, the company stands out by blending a physical salon network with unique health-tech devices and data services, creating a differentiated position in wellness and preventive healthcare. Its aggressive push into innovative devices, digital health platforms, and crypto-enabled incentives offers meaningful upside potential but also adds complexity and uncertainty. Overall, this is an evolving story of a small, innovative player moving toward financial and strategic maturity, with both notable progress and clear execution and funding risks to monitor.

NEWS

October 30, 2025 · 5:00 PM UTC

MEDIROM MOTHER Labs Inc. Receives Capital Investment from Internal Investors

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September 18, 2025 · 5:00 PM UTC

Japan Ground Self-Defense Force Adopts MEDIROM MOTHER Labs' REMONY for Advanced Health Monitoring and Heatstroke Safety

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September 4, 2025 · 1:15 AM UTC

Ackermans & van Haaren supports MRM Health's Series B financing round of 55 million euros

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