Itoxi 2026 Q1: Revenue Plunge but Loss Narrows; Weak Financial Structure Persists

Q1 2026 revenue 964M won, down 63% YoY (game segment 99%)
Operating loss 463M won, significantly improved from 2,729M loss YoY
Net loss 392M won (vs 2,746M loss YoY)
Cash and cash equivalents only 18.7M won; total assets 67.9B won, equity 40.6B won
Accumulated deficit 152.7B won; bad debt provisions 178.7B won; very weak financial health
Contingent liabilities: sued for damages of 2.44B won; embezzlement-related receivables 13.6B won (fully impaired)
Continued reliance on equity issuances and convertible bonds for funding