Yuil Robotics 2026 Q1: Sharp Revenue Decline and Widening Losses, New Business Push
Revenue plunged: Q1 2026 consolidated revenue KRW 4.56 billion (55% drop YoY from KRW 10.07 billion).
Losses widened: Operating loss KRW 4.09 billion (vs KRW 1.58 billion in Q1 2025), net loss KRW 7.96 billion (including KRW 4.16 billion derivative loss from CB conversion).
Convertible bonds fully converted: Remaining CBs converted in Feb 2026, eliminating CB book value and derivative liability (KRW 9.46 billion), increasing capital surplus by KRW 11.24 billion.
New U.S. subsidiary: Established YUIL AMERICA, INC. (100% owned, capital KRW 430 million).
New order: Signed contract with HD Hyundai Power Transformers USA for Vapour Phase Drying Plant (approx. KRW 5.93 billion, delivery by Apr 2027).
Credit rating downgraded: B (speculative) by Ecredible in Apr 2025, down from BB- in 2024.
Potential control change: SK Battery America holds a call option to acquire 23% of the major shareholder's stake at KRW 28,000 per share.