Angel Robotics 2026 Q1: Continued Losses, Medical Market Contraction, New Products and Overseas Expansion Underway

Q1 2026 revenue: KRW 507M (down 52.7% YoY), operating loss KRW -2.68B, net loss KRW -2.53B.
Main causes: medical market contraction due to political/medical conflicts, overseas CE MDR certification delays.
Debt ratio 15.89% (low), cash & short-term financial products KRW 23.61B (ample liquidity).
R&D expenses KRW 988M (195% of revenue); service revenue increased from defense robot contract (LIG Nex1, KRW 900M).
New product angel SUIT H10 launched; medical device certifications in Thailand, Vietnam, Malaysia obtained; expanding Southeast Asian exports.
On Apr 17, 2026, 54,700 stock options exercised (minor dilution).
No dividends or share buyback plans.