Q1 2026 Consolidated Operating Loss Worsens, Sales Plunge and Debt Ratio Rises
Sales of 4,020 million KRW (down 55.5% from 9,034 million in Q1 2025), operating loss of 3,789 million KRW (wider than 1,345 million loss), net loss of 3,628 million KRW.
Debt-to-equity ratio 93.63% (up from 77.66% at end of 2025), net debt-to-equity ratio 36.66% (up from 21.63%), indicating deteriorating financial structure.
No dividends or share buyback/cancellation.
R&D expenses of 217 million KRW (6.98% of sales), increased from prior year, continuing AI and biotech research.
Holdings of convertible bonds (3 issues) and related derivative liabilities of 4,956 million KRW, with early redemption rights posing liquidity risk.
Key subsidiary MGENTECH reported quarterly net loss of 1,567 million KRW and low utilization rates (below 10%).