ONEJOON Q1 2026: Revenue Plunge, Operating Loss, Credit Rating Downgrade

Consolidated Q1 2026 revenue: KRW 608M (99% drop from KRW 97.2B in Q1 2025), operating loss of KRW 4.48B, net loss of KRW 2.18B.
Credit rating: BBB+ from 이크레더블 and NICE디앤비 as of April 2026 (down from A in 2023).
Financial guarantees for overseas subsidiaries (ONEJOON GmbH, etc.) totaling approx. KRW 42B (EUR 24.9M, USD 0.39M).
Loan to ONEJOON GmbH: KRW 39.9B, with allowance for doubtful accounts of KRW 22.95B (57.6%).
Two lawsuits as defendant for unpaid goods (total claim amount approx. KRW 1.64B; outcome uncertain).
No dividends for fiscal year 2025 or Q1 2026.
R&D expenses: KRW 253M (41.6% of revenue).