M83: Q1 Consolidated Revenue Surges but Operating Loss Persists; Parent Turns Profitable

Consolidated revenue in Q1 2026 surged 517% YoY to KRW 66.9bn (vs KRW 10.8bn)
Consolidated operating loss of KRW 2.6bn, continuing losses (prior year Q1 operating loss not disclosed)
Net loss attributable to owners improved slightly to KRW 1.9bn from KRW 2.0bn YoY
Parent (VFX segment) revenue up 68% YoY to KRW 3.9bn, operating profit of KRW 0.1bn, turning profitable
New large VFX contract (KRW 10.5bn) won, only KRW 0.5bn recognized, order backlog of KRW 11.4bn
Total borrowings increased to KRW 12.0bn (from KRW 11.5bn), redeemable convertible preferred stock liability surged to KRW 7.0bn
Consolidated debt ratio improved to 69.4% from 72.9% at year-end
Credit rating maintained at A+ (NICE), no share buyback/split or dividend disclosure