NHN Bugs Returns to Profit in Q1 2026; Operating Income of 1.75 Billion Won

Q1 2026 revenue 10,722M KRW (down 3.2% YoY from 11,073M), operating profit 175M (vs -626M loss), net profit 478M (vs -524M loss) – turnaround to profit
B2C segment operating loss narrowed to 436M (from 1,091M loss), B2B operating profit increased to 612M (from 464M)
Equity method gain of 127M from associate (Sopar Entertainment) vs loss of 51M previously
Four ongoing lawsuits (unjust enrichment 212M, goods payment 3M, injunction 100M, US copyright infringement USD 1.55M) – potential risk
KRX penalty: 5 demerit points and 8M won fine for disclosure violations (May 13, 2026)
No dividends or share buyback/s cancellation
Cash and cash equivalents 18,889M (up from 17,428M at year-end 2025), net assets 13,123M (up from 12,590M)