Spigen Korea Q1 2026 Results: Continued Revenue and Profit Growth, Solid Financial Structure

Consolidated revenue KRW 113.2bn (+3.9% YoY), operating profit KRW 11.2bn (+21.5%), quarterly net profit KRW 14.6bn (+79.2%)
EPS KRW 2,529 (vs KRW 1,390 in prior year, +82%)
Debt ratio 8.15%, very low and sound financial structure
At the 17th AGM, cash dividend of KRW 500 per share approved, capital reserve transfer of KRW 15bn to retained earnings approved (share buyback of KRW 15bn rejected)
Treasury shares: 435,341 shares (7.00%), partially disposed for employee bonuses
Revenue concentration: North America 40.6%, Europe 31.7%, export share 91.3%
Derivative (TRF) valuation loss of KRW 148mn incurred for FX risk management
Patent assignment agreement signed (with Intellectual Discovery), consideration contingent on litigation outcomes
Indian subsidiary (SPIGEN INDIA) recorded a net loss of KRW 750mn in the quarter
Equity method suspension for associate Gaze, with unrecognized gains/losses

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