Ray Reports Consolidated Net Profit in Q1 2026 and Improved Debt Ratio

Consolidated revenue KRW 25.67B (up 4.9% QoQ), operating loss continues at KRW 3.42B
Net profit of KRW 2.98B, turning positive (vs KRW 2.45B in Q1 2025)
Debt ratio improved to 124.7% (from 157.0% at FY2025 end)
Operating cash inflow of KRW 8.28B (vs KRW 0.58B in Q1 2025)
R&D expenses KRW 1.95B (15.5% of revenue)
Total equity KRW 78.47B, cash and cash equivalents KRW 23.16B
Convertible bonds outstanding KRW 4B (early redemption of KRW 21B completed)
Derivative liabilities KRW 2.77B (put options and call rights)
93% of revenue from exports (Asia 44%, Americas 32%)
No share buyback/cancellation or dividend