Earlyworks Co., Ltd (ELWS) Revenue History
Annual and quarterly revenue from 2021 to present
ELWS Revenue Over Time (2021–2025)
ELWS Revenue Growth History
3 of 4 years with positive growth- FY2021 revenue growth
- N/A
- FY2022 revenue growth
- +114.5%
- FY2023 revenue growth
- -90.0%
- FY2024 revenue growth
- +285.1%
- FY2025 revenue growth
- +145.5%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2024 | $128.9M | +789.9% |
| Q2 2024 | $57.4M | +67.5% |
| Q4 2023 | $14.5M | — |
| Q2 2023 | $34.3M | — |
Revenue Breakdown (FY 2025)
ELWS's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
ELWS Revenue Analysis (2021–2025)
Current Revenue & Growth
As of June 29, 2026, Earlyworks Co., Ltd (ELWS) generated trailing twelve-month (TTM) revenue of $235.1 million, reflecting explosive growth of +789.9% year-over-year. The most recent quarter (Q4 2024) recorded $128.9 million in revenue, up 124.5% sequentially.
Historical Growth Trajectory
ELWS's historical revenue data shows a 3-year CAGR of -1.7%. Earlyworks Co., Ltd's highest annual revenue of $463.7 million was recorded in 2022.
Revenue by Segment
ELWS's revenue is primarily driven by Software and Software Development Costs (100%). With over half of revenue concentrated in Software and Software Development Costs, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Technology sector peers — including BTBT, CIFR, and WULF. Compare ELWS vs BTBT →
ELWS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| ELWSCurrent | $235M | +789.9% | - | -55.8% | |
 BTBT | $114M | - | - | -49.8% | |
 CIFR | $224M | - | - | -150.7% | |
 WULF | $168M | - | - | -101.1% | |
 HUT | $15M | - | - | -2104.6% | |
 IREN | $501M | - | - | 3.5% |
ELWS Historical Revenue Data (2021–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $440.4M | +145.5% | $227.1M | 51.6% | $-245,853,242 | -55.8% |
| 2024 | $179.4M | +285.1% | $141.8M | 79.0% | $-381,486,460 | -212.7% |
| 2023 | $46.6M | -90.0% | $16.1M | 34.5% | $-388,428,623 | -834.1% |
| 2022 | $463.7M | +114.5% | $355.3M | 76.6% | $-572,118,810 | -123.4% |
| 2021 | $216.2M | - | $182.7M | 84.5% | $-89,127,985 | -41.2% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
5+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
ELWS — Frequently Asked Questions
Quick answers to the most common questions about buying ELWS stock.
Is ELWS's revenue growth accelerating or slowing?
ELWS revenue growth is accelerating. TTM revenue reached $235M, up +789.9% year-over-year — ahead of the 5-year CAGR of N/A. This indicates the business is expanding faster than its historical baseline.
What is ELWS's revenue history from 2021 to 2026?
Earlyworks Co., Ltd (ELWS) revenue history spans 2021 to 2026. TTM revenue as of 2026 is $235M, growing at +789.9% YoY. The 5-year CAGR is N/A. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is ELWS's long-term revenue growth rate (CAGR)?
Earlyworks Co., Ltd's 5-year revenue CAGR of N/A reflects the sustained nature of its business expansion. As of 2026, the current YoY growth rate of +789.9% is above this long-term average. CAGR is the most reliable measure of sustained revenue momentum for ELWS.
Why does ELWS's quarterly revenue fluctuate?
ELWS quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Earlyworks Co., Ltd's revenue data from 2021 to 2026 shows full historical quarterly detail on this page.
How is ELWS's revenue distributed by segment?
ELWS reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does ELWS's revenue compare to industry peers?
Earlyworks Co., Ltd (ELWS) with TTM revenue of $235M and +789.9% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.