Maum AI 1Q 2026: Revenue Decline and Continued Operating Loss, Debt Ratio Rises

Revenue KRW 1.71B, down 16.5% YoY from KRW 2.05B
Net loss KRW 2.20B (improved from KRW 4.26B loss in prior year period)
Basic EPS -KRW 309 (vs -KRW 655)
Debt ratio 120% (year-end 2025: 108%), borrowings KRW 16B (floating rate, due Sep 2026)
Convertible bonds KRW 8B outstanding, convertible preferred shares KRW 2.71B (liability)
Cash and cash equivalents KRW 14.31B (decreased from KRW 15.94B at year-end)
Litigation: 3 plaintiff cases (KRW 2.13B), 1 defendant case (KRW 1.36B) pending
Credit rating B- (Nice Investors Service), limited financial stability
Continued R&D investment in Physical AI Data Factory, WoRV autonomous driving, etc.