Kakao Games Q1 Operating Loss of 25.5B Won; Revenue Decline and Debt Ratio Rise

Consolidated Q1 2026 revenue: 82.9B won, operating loss: 25.5B won, net loss: 39.5B won (similar to full-year 2025 operating loss of 39.6B won)
Debt ratio rose to 135% from 123% at end of 2025
R&D expenses 40.8B won (49.2% of revenue), high investment continues
In March 2026, decided to issue new shares and convertible bonds for capital raising
Signed multiple new publishing contracts (e.g., Chrono Odyssey, Odin Q), but near-term performance remains weak
No share buyback/cancellation or dividend plan (shareholder return absent)