Devsisters Q1 2026 Operating Loss of 17.3B Won… Swings to Red

Consolidated Q1 2026 revenue: 58.5B won (down 34% YoY from 89.1B), operating loss: 17.3B won (vs operating profit 6.4B won in prior year), net loss: 15.1B won.
Game segment revenue: 51.2B won (87.5% of total), overseas revenue share: 66.5%.
Operating expenses: 75.8B won, including advertising 20.8B and commissions 21.4B.
Financial position: Total assets 292.9B, liabilities 138.2B, equity 154.8B. Cash and equivalents 9.2B, no debt.
Financial assets: 197.7B (including beneficiary certificates 24.5B, redeemable convertible preferred shares 51.6B). Investment partnership liabilities 38.2B.
Prior year: 74,000 treasury shares cancelled (shareholder return). Currently holds 1,164,376 treasury shares (9.60%).
Convertible bond outstanding: 39.4B (1st series, 0% coupon, conversion price 61,800 won, exchangeable into 638,376 treasury shares).
Subsidiary Devsisters Europe GmbH liquidated; restructuring ongoing.
R&D expense: 0.9B won (1.6% of revenue), focusing on AI-based projects.