ITEK Reports Q1 2026 Consolidated Net Loss of KRW 8.5 Billion; Restructuring and New Business Push Ongoing
Consolidated Q1 2026 revenue KRW 12.1 billion (up 3.8% YoY), operating loss KRW 0.3 billion (narrowed from KRW 1.1 billion loss YoY)
Net loss of KRW 8.5 billion (vs. KRW 1.4 billion loss YoY), reflecting non-cash valuation losses: derivative loss KRW 5.4 billion, FVPL loss KRW 3.0 billion
Standalone operating profit KRW 0.3 billion; standalone net loss KRW 7.6 billion
Cash & cash equivalents KRW 124.7 billion (up 28.2% from year-end), net cash position KRW 89.9 billion
Issued 6th convertible bonds KRW 40 billion in Feb 2026; subsequent 1,451,379 shares (KRW 6,890/share) third-party allotment
Business objectives updated: added FCCL manufacturing/sales; removed non-operating items
Credit rating BB (Ecredable); largest shareholder Choi Hyun-sik holds 9.49%