Nara Space Technology Q1 2026: Revenue Up But Operating Loss Widens; Order Backlog at KRW 19.6B

Revenue KRW 413M (up 81% YoY from KRW 228M), operating loss KRW 3,031M (widened from KRW 1,659M)
Net loss KRW 2,918M
Cash & cash equivalents KRW 9,967M (down 68% from KRW 31,225M at year-end 2025)
Order backlog maintained at KRW 19,583M
16U platform listed in NASA SoA 2024; Observer-1A operating successfully
R&D expenses KRW 253M (61.2% of revenue)
Designation as managed item deferred due to special listing conditions (revenue below KRW 3B and recurring losses)
No shareholder return (no share buyback/cancellation or dividends)