V-ONE Tech posts operating loss of 4.8 bln won in Q1 2026 despite revenue surge

Consolidated Q1 2026 revenue surged to 18.9 bln won (vs 5.2 bln in Q1 2025), but operating loss remained at 4.8 bln won
Net loss 3.3 bln won, parent net loss 1.4 bln won
Order backlog 49.9 bln won (display 4.8 bln, battery 24.4 bln, robotics 20.7 bln)
Allowance for doubtful accounts jumped from 3.75 bln to 4.35 bln, coverage ratio rose sharply from 13.0% to 29.8%
Single customer concentration at 70.5% of revenue
Debt ratio low at 15.1%, net debt 18.4 bln won
R&D expenses 0.83 bln won (4.4% of revenue)
Goodwill impairment of 4.5 bln won (2025), investment impairment in subsidiary of 3.5 bln won (2025)