MEZOO turns profitable in Q1 2026 and strengthens financials after successful IPO

Q1 2026 revenue 3.91bn won, operating profit 0.96bn won, net profit 0.96bn won, turning to black (vs operating loss 2.83bn won in prior year period)
Successful KOSDAQ listing in March 2026; raised capital to 4.86bn won and cash to 33.9bn won through IPO and stock options
Debt-to-equity ratio -383.2% (net cash 31.2bn won), significantly improved financial structure
98.9% of sales dependent on Dong-A ST, customer concentration risk
Credit rating remains CCC, borrowings 2.67bn won
R&D expenses 0.21bn won (5.3% of sales), government grants 0.10bn won