Lumir Q1 2026: Revenue Up 34%, Operating Loss Narrows, Shipbuilding Sector Strong
Q1 2026 revenue: 1.90 billion KRW (up 34% from 1.41 billion in Q1 2025). Shipbuilding (solenoid) segment surged to 1.37 billion (from 0.10 billion), while space segment fell to 0.39 billion (from 1.20 billion).
Operating loss narrowed to 0.25 billion (from 0.56 billion), net loss to 0.20 billion (from 0.56 billion).
Cash and cash equivalents: 10.68 billion (up from 3.77 billion at year-end 2025); new short-term borrowings of 4.0 billion. Debt ratio: 20% (vs 13% at year-end).
R&D expenditure: 3.39 billion (178.9% of revenue), maintaining high investment.
Key orders: next-gen medium satellite 5 SAR, LumirX constellation launch planned (LumirX-1 in H2 2026).
Post-report: Decided to issue 33 billion KRW in convertible bonds (30 billion + 3 billion, private placement).