Puloon Technology Q1 2026: Revenue up, operating loss down, net loss widens (derivative losses)

Revenue KRW 4.21B (+29% YoY), operating loss KRW 0.34B (improved from KRW 0.70B loss)
Net loss KRW 0.84B (widened from KRW 0.36B loss) due to derivative valuation loss KRW 0.44B and trading loss KRW 0.11B
Debt ratio 27.2%, cash & equivalents KRW 4.99B, borrowings KRW 4.0B (down from KRW 4.1B), stable financial position
Credit rating BBB (unchanged), R&D expense KRW 0.48B (11.3% of revenue)
Order backlog KRW 9.82B (India Kolkata, unmanned parking, etc.)
Treasury shares 456,523 shares (trust), prior year dividend KRW 30/share (payout ratio 9.14%), no dividend this quarter
All three subsidiaries (Puloon SM, Puloon Robotics, DI Robotics) reported operating losses

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