Hanpass: Operating Loss in Q1 but Net Profit Positive; Debt Ratio Improves to 107%

Q1 2026 consolidated revenue: KRW 17.06bn (+12.8% YoY); operating loss: KRW 0.75bn (swung to loss)
Net profit: KRW 0.65bn (down from KRW 1.75bn in Q1 2025); EPS: KRW 68 (vs KRW 342)
Debt ratio improved to 107.45% (from 189.60% at year-end 2025) due to equity offering (1,133K shares) and deficit offset (KRW 30bn)
Cash & cash equivalents: KRW 68.33bn (from KRW 40.5bn); total assets: KRW 130.27bn
Listed on KOSDAQ on March 25, 2026; no share buyback/cancellation or dividend plans
Revenue mix: digital remittance 79.8%, mobile wallet 13.2%, prepaid card 4.6% (Q1)
Foreign residents in Korea: 2.83 million (Mar 2026, +4.1% YoY), supporting business growth