Q1 2026 Net Loss Due to Financial Asset Valuation Losses; Revenue Growth and Share Buyback Provide Mitigation

Consolidated Q1 2026 revenue: 8,331 million KRW (up 7.9% YoY from 7,725 million), but net loss of 1,570 million KRW (vs net profit of 614 million in Q1 2025)
Operating loss of 1,058 million KRW (prior year Q1 operating loss not disclosed on consolidated basis; separate Q1 2025 operating loss was 535 million)
Main loss driver: net loss on financial instruments of 542 million KRW, including valuation loss of 650 million and disposal loss of 829 million on FVTPL financial assets
Shareholder return: cancellation of 1 million treasury shares (acquisition cost 3,785 million KRW) on Jan 21, 2026
Investment in subsidiary Ininext Co., Ltd.: 17.5 billion KRW capital increase
Strong liquidity: cash and cash equivalents 60.9 billion KRW, short-term financial assets 30 billion KRW, no debt
R&D spending of 256 million KRW (3.08% of revenue), developing Secure AI and other security solutions
Post-reporting period: early redemption of TheCube& CB 4.1 billion on Apr 3, sale of Vivien CB 5.0 billion on Apr 24
High customer concentration (Customer A: 22.99% of revenue), order backlog of 7.8 billion KRW (Suhyup Bank projects)

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