Plasmapp's 1Q26 Operating Loss Continues, Financial Burden Rises, New Product Launch Imminent
Consolidated revenue in 1Q26 reached KRW 2.82 billion (171% increase YoY from KRW 1.04 billion), but operating loss was KRW 2.15 billion (vs. KRW 1.70 billion loss in prior year), continuing losses
Net loss of KRW 2.32 billion (vs. KRW 2.66 billion loss in prior year), basic EPS loss of KRW 604
At end of quarter, total borrowings: KRW 9.78 billion, cash: KRW 2.18 billion, net debt: KRW 7.60 billion, debt-to-equity ratio: 218.4% (soared from 92.6% at year-end)
For 2nd convertible bond (balance KRW 10 billion): call and put options waived, yield to maturity changed to 0%; major shareholder Dreamtech provides joint guarantee