KRM 2026 Q1 Results: Revenue Decline and Continued Losses, Robot/Drone Business Growth
Consolidated Q1 2026 revenue: KRW 1.56 billion (29.5% decrease YoY), operating loss: KRW 1.78 billion (improved from KRW 2.35 billion loss in prior year), net loss: KRW 1.58 billion.
Separate revenue: KRW 1.54 billion, operating loss: KRW 1.77 billion.
Semiconductor segment revenue: KRW 0.99 billion (63.7% of total), down from KRW 1.94 billion YoY.
Robot/Drone segment revenue: KRW 0.55 billion (35.5%), up from KRW 0.27 billion YoY. New product sales of Vision 60 quadruped robot: KRW 0.49 billion.
Completed strategic investment in US drone company Hoverfly Technologies and signed initial supply contract for motors and ESC.
Total assets: KRW 102.1 billion, total liabilities: KRW 32.9 billion, total equity: KRW 69.2 billion. Adjusted debt ratio (consolidated): 28.2% (net of cash).
Borrowings: KRW 24.3 billion (Hana Bank, SBJ), convertible bonds: KRW 6.1 billion (maturity June 2026). Cash and cash equivalents: KRW 13.3 billion.
R&D expenses: KRW 0.51 billion (33% of revenue). Developing next-gen technologies including ADAS, autonomous driving, AI safety solutions.
Major shareholder: Ghost Robotics Technology Co., Ltd. (19.17%). 51,595 shares added from conversion of convertible bonds. Accumulated deficit: KRW 88.9 billion.
4th convertible bonds (balance KRW 5.96 billion, conversion price KRW 5,689): early redemption of KRW 1.91 billion and conversion of KRW 0.29 billion in Q1. Maturity: June 19, 2026.