Joycity Q1 Sales Up 29%, Net Profit Turns Positive; Debt Ratio Rises to 147%
Consolidated Q1 2026 revenue KRW 42.2B (up 29.2% YoY), operating profit KRW 0.3B (swing to profit), net profit attributable to parent KRW 0.4B (swing to profit)
Separate revenue KRW 42.2B, operating profit KRW 1.5B, net profit KRW 1.2B
Debt ratio 147.15% (up from 144.79% year-end), total borrowings KRW 102B (KRW 41B short-term, KRW 59B long-term)
R&D expenses KRW 8.6B (20.28% of revenue), up from KRW 6.7B a year ago
Virtual assets held KRW 0.7B, subject to fair value fluctuation risk
Derivative liabilities related to Ure Co. put/call options: net loss KRW 0.1B
Key contracts: Freestyle1 China publishing renewal (total $21M), Freestyle2 China contract (2025-2028), Biohazard: Survival Unit global publishing with Aniplex
New title 'Freestyle Football 2' under development with Unreal Engine 5, CBT in Jan 2026