KBIO LABS Q1 Net Profit Turnaround, Investment Gains Offset Operating Loss

Consolidated net profit of 2.31 billion won (vs. loss of 0.48 billion won in Q1 2025) turning to black, separate net profit 0.94 billion won
Operating loss of 0.81 billion won (vs. profit of 0.34 billion won), revenue 15.87 billion won, down 22.7% YoY
Net profit improvement driven by non-operating gains: fair value gain on financial assets 1.52 billion won, equity method gain 0.84 billion won
Recognized bad debt expense of 1.95 billion won (trade receivables and contract assets); 2.50 billion won of receivables over 365 days fully provisioned
Cash and cash equivalents 28.09 billion won, short-term financial instruments 22.59 billion won, pledged assets 3.80 billion won
Accumulated deficit 51.64 billion won, deferred tax assets not recognized (uncertain realizability)
Total liabilities 14.57 billion won, total equity 104.47 billion won, debt-to-equity ratio 14.0%