Fidelix Swings to Profit in Q1 2026; Sales Double, Operating Profit 4.3B Won

Q1 2026 revenue 21.49B won (97.5% increase YoY), operating profit 4.33B won (vs. -2.07B in FY2025), net profit 5.25B won (vs. -2.96B in FY2025)
EPS 159 won (vs. -89 won in FY2025, -67 won in FY2024)
Cash & equivalents 12.27B won (up from 7.20B at FY2025 end), short-term borrowings 6.0B won (vs 1.0B) driving debt ratio to 42.5% (FY2025: 28.2%)
Allowance for doubtful accounts on trade receivables 6.35B won (31.1% of gross), inventories 31.91B won (up from 23.13B)
R&D expenses 0.77B won (3.6% of sales), 77 patents held
Revenue concentration: top 3 customers AAA (7.19B), BBB (4.79B), CCC (2.94B)
Majority shareholder: Dosilicon Co., Ltd. (listed in China, 30.2% stake)
No dividends, no share buyback or cancellation
Developing new products (NPU Wide-I/O DRAM) with KAIST for AI era