Perpetuals.com(PDC.US)

Company Encyclopedia

Perpetuals.com

PDC.US

Perpetuals.com Ltd operates as a financial technology company combining blockchain infrastructure and artificial intelligence to transform digital asset trading. The company develops and operates an exchange software suite, Kronos X, a proprietary multi-asset exchange platform and blockchain-based settlement solution fully compliant with European regulations including MiFID II, MiCA, DORA, and EMIR. The company provides financial market infrastructure as a service from Equinix FR2 in Frankfurt, Germany, alongside Eurex and Xetra, enabling clients to operate trading of crypto spot, derivatives, tokenized securities, and structured products. The company was formerly known as Earlyworks Co., Ltd and changed its name to Perpetuals.com Ltd in January 2026.

414.21 B

PDC.USMarket value -Rank by Market Cap -/-

Financial Score

25/01/2026 Update

Research and Consulting ServicesIndustry

Industry Ranking43/55

Industry medianC

Industry averageC

Score Analysis

Peer Comparison

Criteria
Rating
Profit ScoreD
- ROE-126.84%E
- Profit Margin-58.29%E
- Gross Margin51.57%B
Growth ScoreB
- Revenue YoY140.32%A
- Net Profit YoY25.25%B
- Total Assets YoY-63.71%E
- Net Assets YoY-75.46%E
Cash ScoreB
- Cash Flow Margin-171.55%D
- OCF YoY140.32%A
Operating ScoreA
- Turnover1.15A
Debt ScoreD
- Gearing Ratio61.14%D

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Institutional View & Shareholder

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Shareholder

Ownership	%Owned	Share Chg	Report Date
Satoshi Kobayashi	62.04%	No Change	30/04/2025
BNY Mellon Asset Management	33.62%	No Change	30/04/2025
Aldersgate Capital Partners Ltd.	11.1%	No Change	05/12/2025
Renaissance Technologies LLC	0.83%	No Change	30/09/2025
Tomokazu Saito	0.4%	No Change	30/04/2025
Kenji Ishida	0.35%	No Change	30/04/2025
Diamond Management Inc.	0.22%	No Change	30/04/2025
Yoshihisa Suzuki	0.2%	No Change	30/04/2025
Ix Llc	0.2%	No Change	30/04/2025
Rhumbline Advisers Ltd Partnership	0.18%	1.90 K	30/09/2025

News

Earlyworks Rebrands as Perpetuals.com and Wins Shareholder Backing for Perpetual Markets Acquisition

Earlyworks Co., Ltd. has rebranded as Perpetuals.com Ltd. after obtaining shareholder approval for a strategic transformation, including acquiring Perpetual Markets Ltd. and restructuring its share capital. The name change and new Nasdaq ticker symbol "PDC" will take effect on January 20, 2026. Despite strong revenue growth, analysts rate the stock as a Hold due to ongoing losses and negative cash flows. The company operates in IT systems, digital assets, and financial services, with a current market cap of $18.27M.

Tip Ranks·01/17/2026 00:27

Tip Ranks·01/17/2026 00:27

Earlyworks Co. Ltd. Held Extraordinary Shareholders Meeting

Earlyworks Co. Ltd. held an Extraordinary General Meeting on January 16, 2026, where shareholders approved several proposals. These included the issuance of shares, acquisition of Perpetual Markets Ltd., changes to the company name to Perpetuals.com Ltd. and ticker symbol to PDC, an increase in authorized shares, and the election of new directors. The changes will take effect on January 20, 2026. This summary is based on information published via EDGAR by Earlyworks Co. Ltd.

Reuters·01/17/2026 00:00

Reuters·01/17/2026 00:00

Earlyworks Co. Ltd. to Acquire Perpetual Markets Ltd. in Share Exchange Deal

Earlyworks Co., Ltd. has signed a Share Exchange Agreement to acquire Perpetual Markets Ltd., making it a wholly-owned subsidiary. The deal involves American Depositary Shares, Series P Preferred Shares, and cash. The transaction is subject to customary closing conditions, including shareholder approval, and will establish post-closing governance arrangements with former Perpetual shareholders.

Reuters·12/30/2025 21:01

Reuters·12/30/2025 21:01

Earlyworks Co. Ltd. Held Extraordinary General Meeting of Shareholders

Earlyworks Co. Ltd. held an Extraordinary General Meeting of Shareholders on November 14, 2025. Proposals to issue shares for subscription related to the acquisition of PrimeDelta Corp. were not approved. Proposals to issue share options for subscription in connection with pre-funded warrants, ordinary warrants, and warrants issued to the placement agent in the October private placement were approved. The election of Jason D. Sawyer and Michael Hilmer as independent directors and partial amendments to the Articles of Incorporation were also approved.

Reuters·11/22/2025 05:10

Reuters·11/22/2025 05:10

Earlyworks Regains Nasdaq Compliance After Equity Requirement Met

Earlyworks Co. Ltd. has regained compliance with Nasdaq Listing Rule 5550(b)(1) by meeting the minimum stockholders’ equity requirement of $2.5 million. Nasdaq confirmed the company's compliance with all listing criteria. However, Earlyworks will be under a Mandatory Panel Monitor until November 11, 2026, and if it falls out of compliance during this period, it may face delisting without the opportunity for a compliance plan.

Reuters·11/13/2025 05:14

Reuters·11/13/2025 05:14