VUNO Q1 2026: Revenue Declines, Losses Widen, Financial Structure Healthy

Q1 2026 consolidated revenue KRW 6.05B (down 19.7% YoY from KRW 7.54B)
Consolidated operating loss KRW 4.11B (vs loss of KRW 3.29B in Q1 2025)
Consolidated net loss KRW 3.99B (vs loss of KRW 3.29B)
Prognosis/prediction solutions account for 86.8% of revenue (led by DeepCARS)
Cash and cash equivalents KRW 5.08B, short-term financial instruments KRW 3.02B
Net debt ratio 2.88% (end of 2025: 3.95%) – maintains financial stability
Issued 5th perpetual convertible bond (KRW 10B) in Feb 2026, classified as equity
Perpetual bond outstanding: KRW 52.54B, recorded in equity adjustments
Operating cash flow -KRW 2.66B (Q1 2025: +KRW 24.16B due to one-time factors)
US subsidiary VUNO MED Inc.: revenue KRW 0.67B, net loss KRW 0.12B
VUNO Med-BoneAge asset transfer in progress (down payment KRW 0.35B, total KRW 2.7B)
No dividends, accumulated deficit KRW 104.2B