I-Robotics Q1 2026: Revenue up 20%, net profit turns positive, but litigation and debt increase remain concerns

Q1 2026 revenue of 10,198 million KRW (20% YoY increase), operating loss of 80 million KRW (improved from 228 million loss), net profit of 446 million KRW (vs loss of 234 million KRW) turning positive
Total assets 57,688 million KRW, equity 44,519 million KRW; liabilities increased to 13,169 million KRW from 7,001 million at year-end, with new short-term borrowings of 6,006 million and long-term borrowings of 3,000 million KRW
Multiple changes in largest shareholder: March 2025 from Yeom Hyun-gyu et al. to K-Humus, April to Kim Young-gyu et al.; current stake of Kim Young-gyu and related parties approx. 10.6%
Six pending lawsuits: related to shareholder meeting resolutions; some in appeals; damage claim of 500 million KRW; outcomes uncertain
Level 3 financial assets of 12,485 million KRW (majority of long-term financial assets) measured using unobservable inputs, exposing to price risk
New businesses (auto parts processing 439 million, solar power 47 million) generating sales but insignificant proportion
No dividend or share buyback/cancellation

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