LOT Vacuum Reports Q1 2026 Consolidated Operating Loss of KRW 5.4 Billion; High Customer Concentration

Q1 2026 consolidated revenue KRW 62.6B (+12.7% YoY), operating loss KRW 5.4B (continued loss), net loss KRW 2.5B.
Separate revenue KRW 49.7B (+38.3% YoY), operating loss KRW 4.0B, net loss KRW 2.3B.
Major customer A accounts for 68.9% of revenue, slightly down from 72.4% YoY but still high concentration.
Credit rating maintained at A-, cash flow rating downgraded to C+ (from B last year).
Treasury shares 2,196,000 shares (12.3% stake); no additional buyback or cancellation plan.
Convertible preferred stock liability KRW 10.2B, derivative liability KRW 12.7B, total financial liabilities KRW 68.9B.
Cash and cash equivalents KRW 68.9B, debt-to-equity ratio 36%, indicating stable financial structure.
R&D expenses KRW 4.1B (8.32% of revenue).
Chinese subsidiary Xi'an recorded a net loss of KRW 1.7B for the quarter.
Consolidated equity KRW 241.4B, total assets KRW 328.4B.