NanoTIM Reports Operating Loss in Q1 2026, Debt Ratio Rises to 141%

Q1 2026 consolidated revenue KRW 9.84B (up 8.8% YoY), operating loss KRW 0.64B (wider than KRW 0.46B YoY), net loss KRW 0.98B (wider than KRW 0.46B YoY)
Debt ratio 141.25% (up from 140.69% at year-end), borrowings KRW 52.3B, cash & equivalents KRW 5.3B (down 53% from KRW 11.3B)
Majority shareholder Choi Yunsung holds 50.63%, top customer A accounts for 66% of sales
Holds call and put options on KRW 10B convertible bonds issued Nov 2025 (conversion price KRW 5,500)
R&D expense KRW 0.61B (6.18% of sales), investing in new production facilities for thermal runaway prevention pads
Credit rating BBB- (Korea Data), no dividends for the past 5 years
Subsidiaries in Czech Republic and USA both recorded losses
No treasury shares held, no shareholder return policy