Finemedix Reports 17.5% Revenue Growth in Q1 2026 but Still in Net Loss

Consolidated Q1 2026 revenue: KRW 2.23bn (vs KRW 1.90bn in Q1 2025, +17.5%)
Net loss: KRW 753mn (improved from KRW 846mn loss)
Cash and cash equivalents: KRW 4.64bn (up from KRW 3.14bn at end-2025)
R&D expense: KRW 150mn (6.73% of revenue)
Chinese subsidiary Yancheng Finemedix reported Q1 net loss of KRW 95mn
Convertible bond (face value KRW 1.18bn, conversion price KRW 9,532, with put option)
Customer concentration risk: one customer accounted for 10.8% of revenue
Borrowings: KRW 2.27bn; convertible bonds: KRW 711mn
No dividend or share buyback/ cancellation plans
Long-term growth strategy: global market expansion, ODM partnerships