Kornic Automation Q1 2026 Revenue Up 120% YoY, Operating Profit Turns Positive

Q1 2026 revenue KRW 8.6bn (up 120% YoY from KRW 3.9bn), operating profit KRW 0.2bn (turnaround from KRW 1.6bn loss), net loss KRW 0.09bn (narrowed from KRW 1.5bn loss)
Smart Factory segment led growth with KRW 4.2bn (49% of revenue), Control SW license KRW 2.1bn (24%), IT Infra KRW 1.9bn (22%), Robot Logistics KRW 0.3bn (4%)
Convertible bonds outstanding KRW 13bn, conversion price KRW 1,637, derivative assets KRW 4.2bn and liabilities KRW 3.3bn (stock price risk)
Net debt-to-equity ratio 66.4% (slight improvement from 67.5%), cash & equivalents KRW 3.7bn, short-term financial instruments KRW 11.0bn
R&D expenses KRW 0.45bn (5.2% of sales), developing AI-based EasyEES and MetaFactory systems
Articles amended to add IT infrastructure rental business (to secure recurring subscription revenue)
Top 5 customers account for 53% of revenue, largest shareholder (주)에이피에스 holds 41.8% stake