Aptocrom Reports Q1 2026 Consolidated Operating Loss of KRW 542M; Pursues Capital Reduction and Rights Offering

Q1 2026 consolidated revenue: KRW 2.42B, operating loss: KRW 542M (vs operating profit of KRW 194M in Q1 2025, turning to loss)
Consolidated net loss: KRW 3.22B (widened from KRW 1.20B loss in Q1 2025)
Insulation segment revenue: KRW 812M, sharply down from KRW 1.59B YoY (Saewool Units 3&4 construction progress at 97.5%, nearing completion)
Pharmaceutical segment revenue: KRW 1.48B (↓8.6% YoY)
Key financials: Cash & cash equivalents KRW 3.04B, short-term borrowings KRW 5.61B, current portion of bonds with warrants KRW 576M
Receivables from related parties (loans, etc.) KRW 118.56B, with allowance for bad debts of KRW 43.34B (29.2% coverage)
Announced 20:1 reverse stock split on May 6, 2026 (to offset deficit and improve financial structure)
Third-party allotment capital increase of KRW 12B on May 7, 2026 (for acquisition of equity securities)
Subsidiary Aprogen I&C reported net loss of KRW 2.77B, equity KRW 6.54B
R&D expenses: KRW 30M (1.23% of revenue)