i3system Q1 2026: Sales 32.37B KRW, Order Backlog 109.36B KRW, Cash 27.41B KRW

Q1 2026 sales of 32.37 billion KRW, approximately 26% of full-year 2025 sales of 124.28 billion KRW
Order backlog of 109.36 billion KRW, with major projects including infantry medium-range guided missiles (Hyunkoong) and K2 tank
Debt ratio 40.6% (up from 35.6% at end of 2025), equity 141.33 billion KRW
Cash and cash equivalents 27.41 billion KRW (up 175% from 9.96 billion KRW at end of 2025)
R&D expenses 2.91 billion KRW (9.0% of sales), expected to benefit from defense budget increases as a defense contractor
FX risk: foreign currency assets 8.38 billion, liabilities 4.01 billion; 10% FX change impacts after-tax profit by ±0.34 billion KRW