FADU Turns Profitable in Q1 2026, Revenue Triples YoY
Q1 2026 consolidated revenue of KRW 59.5B, up 3.1x YoY (KRW 19.2B); operating profit of KRW 7.7B vs loss a year ago, achieving turnaround
Net profit of KRW 10.2B vs loss of KRW 11.9B in Q1 2025; basic EPS of KRW 209 (vs -242)
SSD controller sales accounted for 80.4% (KRW 47.9B) of total revenue; SSD modules 16.6% (KRW 9.9B)
Debt-to-equity ratio improved to 198.69% (from 312.36% at year-end 2025); net debt of KRW 67.7B, accumulated deficit KRW 206.7B, total equity KRW 34.1B
Cash and cash equivalents of KRW 43.7B; borrowings KRW 11.5B; convertible bonds KRW 4.3B (including embedded derivative at KRW 18.6B)
Three securities class actions and a criminal indictment under Capital Markets Act (Dec 18, 2025) pending; financial impact unpredictable
Customer concentration high: Customer1 accounted for 51.53% of revenue
R&D expense of KRW 14.6B (24.6% of revenue), up from KRW 12.8B a year ago; PCIe Gen6 controller tape-out completed, technology development ongoing