Sunam Q1 Results Weak: Sales Drop, Losses Widen, R&D Continues

Q1 2026 cumulative revenue: KRW 0.45B (down 37.8% YoY from KRW 0.73B), operating loss KRW 0.89B, net loss KRW 0.89B (deeper loss YoY)
R&D expenses KRW 0.41B (89.4% of revenue), continuing high R&D burden
Order backlog KRW 1.51B (one Reel to Reel PVD system), progress rate 57.89%
Cash and cash equivalents KRW 2.67B (down from KRW 4.61B at year-end 2025), short-term borrowings KRW 2.95B (down from KRW 3.06B)
Major customer A accounts for 69.5% of total revenue (KRW 0.32B) – customer concentration risk
Unaudited financial statements; no shareholder returns announced