Newen AI: Q1 2026 Net Loss Narrows, Strong Cash Position Maintained

Q1 2026 revenue 4,341.6 million KRW (+2.2% YoY), operating loss 744.9 million
Net loss 292.8 million (down 60.3% from 737.2 million in Q1 2025)\- R&D expense 2,134.4 million (49.16% of revenue), continued investment
Cash and cash equivalents 3,927.3 million, short-term financial assets 41,680.9 million, total liquidity 45,608 million
Borrowings 733.3 million, debt-to-equity ratio 9.48%, solid financial structure
2025 IPO forecast missed: revenue 25% below, operating loss incurred
Credit ratings maintained: BBB (Icreditable), etc.
No dividend or share buyback plan
New services (VUSSENS, Agora AI, etc.) under development