GCMS: Q1 2026 Revenue Down, Net Profit Turns Positive

Consolidated Q1 2026 sales KRW 23.55bn (down 11% YoY), operating profit KRW 0.29bn (down 41%), net profit KRW 0.22bn (swing from loss)
Standalone sales KRW 23.55bn (down 12%), operating profit KRW 0.08bn (down 88%), net profit KRW 0.025bn (turnaround)
Consolidated debt ratio 95.6%, net debt ratio 25.3% (FY2025: 95.2%, 22.0%)
Held KRW 20bn bond with warrants (exercise price ₩4,043, maturity 2029); includes derivatives gains/losses
Major related-party transactions: Green Cross Medical Foundation KRW 7.63bn, Boryung KRW 5.70bn
R&D expenses KRW 0.73bn (3.1% of sales); GC Fit blood glucose system obtained CE-IVDR certification
Corporate credit rating BB+ (stable, by NICE D&B)
Key contracts: Arkray HbA1c supply (until 2027), Boryung hemodialysis solution 10-year supply

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