UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For
the month of February 2025
Commission File Number: 001-42470
PicoCELA
Inc.
2-34-5
Ningyocho, SANOS Building, Nihonbashi
Chuo-ku,
Tokyo 103-0013 Japan
(Address
of Principal Executive Office)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
EXHIBIT
INDEX
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
|
PicoCELA
Inc. |
|
|
|
Date:
February 20, 2025 |
By: |
/s/
Hiroshi Furukawa |
|
Name: |
Hiroshi
Furukawa |
|
Title: |
Chief
Executive Officer and Representative Director |
Exhibit
99.1
PicoCELA
Reports Higher Revenue and Lower Net Loss for the Fiscal
Year
Ended September 30, 2024
40%
YoY Increase in Revenue and 23% YoY Decrease in Net Loss
TOKYO,
February 18, 2025 /PRNewswire/— PicoCELA Inc. (“PicoCELA” or the “Company,” Nasdaq: PCLA), a Tokyo-based
provider of enterprise wireless mesh solutions, today announced its financial results for the fiscal year ended September 30, 2024.

PicoCELA
Inc. Logo (PRNewsfoto/PicoCELA Inc.)
Recent
Operational Highlights:
40%
year-over-year (“YoY”) growth in revenue, which was primarily caused by a 34% YoY increase in the Company’s enterprise
wireless Wi-Fi equipment business, while the Company’s supplemental businesses of software-as-a-service and maintenance service
also grew by 69% YoY. The Company’s revenue growth in sales of its enterprise Wi-Fi equipment was due to recovery of its equipment
production from the supply chain disruption caused by the shortage of Wi-Fi chips, which was a result of the sharp growth in the demand
for Wi-Fi chips in the post-COVID-19 recovery of the global economy.
Management
Commentary
“This
past year was a pivotal year for PicoCELA to resume its growth track,” said chief executive officer and founder, Hiroshi Furukawa,
Ph.D. “We achieved record revenue, and this is a good indication that the recognition of our technology and our products has been
growing in the Japanese market. We are also hoping that our recent initial public offering on Nasdaq in the U.S. securities market will
help increase global recognition of PicoCELA.”
Fiscal
Year 2024 Financial Results:
Revenue
increased by 40% to $5.5 million (¥784,403 thousand) for the fiscal year ended September 30, 2024, compared to $3.9 million (¥559,521
thousand) for the prior fiscal year. The increase was primarily due to increased revenue from product equipment.
Cost
of revenue increased by 24.5% to $2.5 million (¥361,202 thousand) for the fiscal year ended September 30, 2024, compared to $2.0
million (¥290,090 thousand) for the prior fiscal year, reflecting the higher direct costs associated with the higher revenue during
the fiscal year ended September 30, 2024.
Selling,
general, and administrative expenses were $6.1 million (¥870,385 thousand) for the fiscal year ended September 30, 2024, compared
to $6.3 million (¥897,965 thousand) for the prior fiscal year. The decrease was primarily due to efficient marketing spending.
Net
loss was $3.4 million (¥479,921 thousand) for the fiscal year ended September 30, 2024, compared to $4.4 million (¥633,956
thousand) for the prior fiscal year. The decrease was primarily due to an increase in the aforementioned revenue.
As
of September 30, 2024, cash and cash equivalents were $3.2 million (¥456,775 thousand). Upon
the closing of the Company’s recent initial public offering on January 17, 2025, PicoCELA received net proceeds of US$5.0
million (¥716,250 thousand).
*
(Conversion Rate ¥143.25 – USD $1.00)
For
more information regarding PicoCELA’s financial results, including financial tables, please see the Company’s Form 20-F (File
No. 001-42470) for the year ended September 30, 2024 filed with the U.S. Securities and Exchange Commission (the “SEC”).
The Company’s SEC filings can be found on the SEC’s website at https://www.sec.gov/.
About
PicoCELA Inc.
PicoCELA
is a Tokyo-based provider of enterprise wireless mesh solutions, specializing in the manufacturing, installation, and services of mesh
Wi-Fi access point devices. PicoCELA Backhaul Engine, the Company’s proprietary patented wireless mesh communication technology
software, eliminates the need for extensive LAN cabling and enables flexible and easy installation of Wi-Fi network devices. PicoCELA
also offers a cloud portal service, PicoManager, which allows users to monitor connectivity and communication traffic, as well as install
edge-computing software on the Company’s PCWL mesh Wi-Fi access points.
Cautionary
Note Regarding Forward-Looking Statements
Statements
in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not
historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform
Act of 1995. The words “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,”
“should,” “target,” “will,” “would,” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially
from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related
to market conditions, and other factors discussed in the “Risk Factors” section of our SEC filings. Any forward-looking statements
contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any
forward-looking statement, whether as a result of new information, future events, or otherwise.
PicoCELA
Investor Contact
global@picocela.com
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