iA Inc. 2026 Q1: Operating Profit Turns Positive with DCE Solution Consolidation, Debt Ratio Surges
Consolidated operating profit of 185 million won (turnaround from loss YoY), but net loss of 851 million won due to subsidiary losses
DCE Solution became a wholly-owned subsidiary (acquisition cost 20.77 billion won); contributed sales of 20.04 billion won and operating profit of 1.94 billion won
Consolidated revenue of 27.61 billion won (up 108% YoY, mainly due to DCE Solution addition)
Debt-to-equity ratio surged to 167% (from 80% at year-end 2025); total borrowings increased to 33.50 billion won
Convertible bonds of 15.5 billion won outstanding, conversion price 191 won (exercisable from Feb 2026), put option risk exists
Stock consolidation approved (5:1), face value from 100 won to 1,000 won, effective June 11, 2026, listing on June 26
Currently designated as a cautionary stock (since Aug 2025, due to misuse of third-party allotment funds)