Yujin Robot: Q1 2026 Revenue Surges but Operating Loss Widens
Q1 2026 (individual) revenue: KRW 5.01 billion (vs KRW 0.98 billion in Q1 2025, a sharp increase). Operating loss: KRW 3.98 billion (vs loss of KRW 0.91 billion). Net loss: KRW 3.88 billion.
Operating loss drivers: higher COGS (KRW 8.98 billion) and SG&A (KRW 2.75 billion). R&D expenses: KRW 1.68 billion (33.6% of revenue).
Financial position: Total assets KRW 50.44 billion, liabilities KRW 25.60 billion, equity KRW 24.84 billion (retained earnings deficit KRW 3.88 billion). Cash & cash equivalents KRW 3.19 billion, total borrowings KRW 7.79 billion. Current ratio 148%.
Key business changes: Discontinued Miele robot vacuum production (2024) and R&D service (2025). Now focusing on autonomous mobile robots (AMR) and automation inspection equipment.
Dividends: None due to net loss. No share buyback or cancellation.
Key risks: Persistent operating losses, high inventory (KRW 16.33 billion, 32.4% of total assets), allowance for doubtful accounts KRW 0.74 billion.