>>104406433
NTA
Q4 2022 was Feb-Aril 2022, i.e. the quarter when Noctyx debuted, and the last quarter before the branch's first anniversary. The branch's total revenue for that quarter was reported as 807 MJPY (million yen)
The next 8 quarters, quarterly revenue was above 1000 MJPY; but that eighth quarter was Q4 of 2024 - the quarter in which Selen was terminated. Revenue for that quarter would have fallen below 1000 MJPY if not for the emergency un-mothballing of AR Live, but it still would have been above Q4 of 2022 (916 +-1 MJPY vs 807 MJPY)
All five quarters since then (May 2024 - July 2025), revenue was below that of Q4 2022 - which, as you said, is horrific. The "good" news for EN management and Anycolor's bean counters is that the branch's revenue is unlikely to drop by any statistically significant amount due to the existence of a natural floor of fan support (i.e. Scarle's whales, Aia's whales, and the fujos who buy LuxNocBTB merch)

...the bad news for EN management and Anycolor's bean counters is that the branch's revenue is unlikely to raise by any statistically significant amount, due to WHY fan support has dropped to the natural floor, and has been reduced to those whales and fujos. The fan support has dropped to its nadir, it has bottomed out, and recovery is impossible as long as management refuses to even acknowledge the existence of the underlying issues.