Motivelink Q1 2026: Operating Loss Widens, Debt Ratio Rises

Consolidated revenue 17.7B KRW (+4.2% YoY), operating loss 1.4B KRW (vs profit in prior year), net loss 1.0B KRW (vs profit of 45M KRW)
Debt ratio increased to 86.73% (from 74.29% at year-end), borrowings 13.7B KRW
Over 83% of sales concentrated on a single customer (Customer A), high customer concentration risk
R&D spending rose to 13.04% of sales (from 7.0% in prior year), ongoing government projects
No dividends or share buybacks, credit rating BB (NICE)