KPMTECH Q1 Operating Loss of KRW 3.7B, Credit Rating CCC+, Pursues Financial Restructuring Including Reverse Stock Split
Consolidated Q1 2026: Revenue KRW 19.8B (up 38% YoY), Operating Loss KRW 3.7B (improved from loss of KRW 6.8B in Q1 2025), Net loss attributable to parent KRW 6.7B (improved from KRW 9.3B)
Debt ratio 129.2%, Credit rating CCC+ (very speculative) from eCredable
Post-report: 10:1 reverse stock split (to cover deficit) and third-party allotment capital increase (5,194,805 shares at KRW 1,540 each, for debt repayment) completed
Subsidiary Newon underperformance continues goodwill impairment risk; equity method loss from associate Telcon RF Pharma recognized KRW 2.08B
No dividends (none for past 5 years), no share buyback/cancellation plans
License agreement for Lenzilumab (COVID-19 treatment) terminated due to Humanigen bankruptcy