Bit Planet Q1 2026: Revenue up 21%, net loss widens on crypto impairment

Q1 2026 (separate) revenue: 4.84 billion won (+21% YoY), operating loss: 1.21 billion won, net loss: 7.81 billion won (vs -1.26 billion won last year).
Recognized 6.72 billion won revaluation loss on virtual assets (BTC and USDT). Holdings at quarter-end: 300 BTC, 1.07 million USDT.
Fully repaid borrowings (1.02 billion won), maintaining low debt ratio of 15%.
Three ongoing litigation risks: ① lost appeal against Jennine Soft (provision 0.34 billion), ② appeal against bid restriction order, ③ claim from Sangrok S (1.72 billion).
No separate dividend or share buyback plan. AGM in March approved treasury share disposal plan.
Post-quarter, decided to issue 7 billion won in convertible bonds (May 14, 2026).

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