Earlyworks Co., Ltd (ELWS) Revenue History
Annual and quarterly revenue from 2021 to 2025
Compound Annual Growth Rate (CAGR)
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ELWS Revenue Growth
Revenue Breakdown (FY 2025)
ELWS's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
ELWS Revenue Analysis (2021–2025)
As of May 8, 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.
Looking at the longer-term picture, ELWS's historical revenue data shows a 3-year CAGR of -1.7%. The company achieved its highest annual revenue of $463.7 million in 2022.
Revenue diversification analysis shows ELWS's business is primarily driven by Software and Software Development Costs (100%). With over half of revenue concentrated in Software and Software Development Costs, the company maintains significant focus in this area while developing other growth vectors.
When 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 | $164M | - | - | 16.8% | |
 CIFR | $224M | - | - | -150.7% | |
 WULF | $140M | - | - | -54.4% | |
 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% |
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Start ComparisonELWS — Frequently Asked Questions
Quick answers to the most common questions about buying ELWS stock.
Is ELWS's revenue growth accelerating or slowing?
ELWS revenue is accelerating at +789.9% year-over-year, exceeding the 5-year CAGR of N/A. TTM revenue reached $235M. Growth momentum has increased versus prior periods.
What is ELWS's long-term revenue growth rate?
Earlyworks Co., Ltd's 5-year revenue CAGR of N/A reflects the sustained expansion pattern. Current YoY growth of +789.9% is above this long-term average.
How is ELWS's revenue distributed by segment?
ELWS reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2021-2025 are available for download. Segment mix reveals concentration and diversification trends.