Linc Solution Posts Continuing Loss in Q1 2026; Investment in Daejeon Plant Underway

Consolidated Q1 2026 revenue: KRW 1.57B, operating loss: KRW 3.69B, net loss: KRW 3.81B (losses widened vs Q1 2025 separate: operating loss KRW 1.67B, net loss KRW 1.35B)
Total assets: KRW 66.3B, total liabilities: KRW 31.1B, total equity: KRW 35.1B, debt-to-equity ratio: 52.16%
Cash and cash equivalents: KRW 12.8B (up from KRW 4.4B at year-end 2025), operating cash flow: -KRW 2.75B
Acquired 50.06% stake in subsidiary AM Solutions during the quarter (acquisition cost KRW 1.98B, recognized goodwill KRW 1.10B)
Construction in progress: KRW 15.6B (Daejeon 3D printing automated foundry plant, expected completion H2 2026)
Accumulated deficit: KRW 30.9B; no dividend history
R&D expenses: KRW 0.56B (up from KRW 0.32B in Q1 2025); 65 patents held
67% of revenue concentrated in top 2 customers (Customer A: KRW 1.05B, Customer B: KRW 0.20B)
Global 3D printing market expected to grow at CAGR 13.16% through 2028; Asia-Pacific CAGR 17.47%
Basic loss per share: KRW 624 (consolidated); diluted loss per share same