VECT Q1 2026: Revenue down 22.8%, operating loss continues, EPS -43 won
Consolidated revenue of KRW 15.69 billion, down 22.8% YoY (prior year KRW 20.33 billion). Operating loss of KRW 0.65 billion.
Net loss for the period of KRW 0.74 billion (attributable to parent KRW 0.58 billion), basic EPS of -43 won.
Debt ratio (net debt/equity) at 91%, up from 90% at year-end. Borrowings of KRW 16.25 billion, cash of KRW 6.21 billion.
Allowance for doubtful accounts ratio at 45.2%, with 27.6% of receivables overdue over 1 year, indicating high credit risk.
Subsidiary Isol Information & Communication (55.14% stake) continues losses; impairment loss on investment of KRW 0.999 billion recognized in separate financial statements.
Tax investigation penalty of KRW 0.6 billion in 2025 already paid; one pending lawsuit deemed immaterial by management.
R&D expenses of KRW 0.105 billion (1.04% of revenue); new businesses in AI, robotics, metaverse being pursued but near-term improvement limited.