Namuga 2026 Q1 Results: Revenue Down 30%, Earnings Decline
Revenue and profit decline: Consolidated Q1 2026 revenue KRW 97.9bn (down 30% from KRW 140.5bn in prior year Q1), operating profit KRW 3.9bn, net profit KRW 4.5bn. EPS KRW 320 (vs. KRW 636).
Customer concentration: Samsung Electronics accounts for 97% of sales (down from 99%), still very high.
Financial structure: Cash and equivalents KRW 114bn, net cash KRW 19.3bn, debt-to-equity ratio 55.5%. Sound financial health.
R&D: Quarterly R&D expense KRW 2.3bn (2.33% of revenue).
Shareholder return: No share buyback or cancellation in the quarter. However, at the 22nd AGM (Mar 30, 2026), articles were amended to allow the board to set record dates for dividends. Potential future dividend policy change.
Other: Holds 78 patents, continues development of 3D cameras and new technologies.