S2W Reports Q1 2026 Operating Loss of KRW 2.25B, Continues R&D Investment with 63 Patents

Consolidated revenue KRW 2.18B (similar YoY)
Operating loss KRW 2.25B, net loss KRW 1.96B
R&D expenses KRW 0.35B (16.0% of revenue)
63 registered patents and 35 pending applications
Major customer A's revenue share 10.1% (down from 30.1%)
Established Japan subsidiary (S2W Japan, 100% owned)
Total assets KRW 29.85B, liabilities KRW 8.32B, equity KRW 21.53B (debt ratio 11.2%)
Held derivative-linked financial assets of KRW 14.15B
Cash and cash equivalents KRW 5.92B (decrease from KRW 11.42B at year-end 2025)
Capital increase due to stock option exercises