APACT Reports Q1 2026 Revenue Growth but Continues Losses; Debt Ratio Rises to 180%

Revenue 30.5 billion KRW (+30.3% YoY)
Operating loss 1.9 billion KRW (improved from 3.1 billion loss YoY)
Net loss 3.3 billion KRW (improved from 3.8 billion loss YoY)
Debt ratio 180.3% (from 159.1% at year-end 2025), net debt ratio 135.2% (from 112.3%)
Total borrowings 73.3 billion, convertible bonds 4.9 billion, bonds with warrants 17.9 billion
Cash and equivalents 5.7 billion, short-term financial instruments 11.0 billion
Accumulated deficit 22.9 billion
Customer A accounts for 61.4% of sales
Equity method loss from associate Glowon Inc. of 0.15 billion

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