Dozn Reports Strong Q1 2026 Results and Continued Share Buyback

Consolidated Q1 2026 revenue 15.69 billion won, operating profit 3.90 billion won, net profit attributable to parent 3.16 billion won (vs Q1 2025 revenue 15.39 billion won, net profit 2.46 billion won, +1.9% and +28.8% respectively)
Consolidated EPS 44 won (vs 38 won in Q1 2025), diluted EPS 44 won
Share buyback: decisions for 284,090 shares in Nov 2025 and 933,125 shares in Mar 2026. Acquired 40,000 shares during the quarter, ending treasury shares 299,173 (0.36% of total issued)
Debt ratio 165.61% (vs 162.44% at year-end 2025), no borrowings, cash and cash equivalents 154.85 billion won (vs 148.18 billion won)
Core businesses: Digital banking solutions (38.3% of revenue), FX solutions (24.3%), Data solutions (messaging 24.9%, platform partnership 7.5%, apartment ERP 3.0%)
Apartment ERP supplied to about 8,000 complexes, estimated domestic market share ~24%
Equity method losses of 0.43 billion won from associates (Switchone and Open Asset) in the quarter
One ongoing copyright lawsuit at appellate court (claim amount 0.7 billion won), expected no material financial impact
Imposed fine of 15 million won in Dec 2025 for Telecommunications Business Act violation (paid and system improved)
R&D expenses 0.27 billion won (1.70% of revenue), developing new technologies including deep learning-based CAPTCHA recognition

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