Inswave Q1 2026: Revenue up 58% YoY, net loss narrows, debt-free balance sheet
• [Revenue Growth] Consolidated revenue of 11.26 billion KRW, up 58.3% YoY (7.11 billion). Consulting portion expanded to 76.3%.
• [Loss Reduction] Net loss of 2.24 billion KRW, improved 21.4% from 2.85 billion KRW in Q1 2025. Operating loss of 2.81 billion KRW (vs 3.39 billion).
• [Financial Health] Fully repaid short-term borrowings (2.0 billion KRW), maintaining debt-free status. Net cash of 5.94 billion KRW. Net debt-to-equity ratio negative.
• [Order Backlog] 31.53 billion KRW in orders, including NH Nonghyup Bank NEO project (18.53 billion) and Meritz Fire UI conversion (8.01 billion).
• [R&D Investment] Continued development of AI products such as WebSquare AI and DeepSquare LLM. R&D expenses of 1.47 billion KRW (13.1% of revenue).
• [Shareholder Returns] No dividends, share buybacks, or cancellations.