Q1 net loss widens to 14.7B won, credit rating downgraded to BBB, issued 3rd EB of 3B won

Separate Q1 2026 revenue 9.08B won (down 2% YoY), operating loss 1.33B won (vs 0.34B loss last year), net loss 1.47B won (vs 0.64B loss).
Consolidated Q1 2026 revenue 10.7B won (down 2% YoY), operating loss 0.75B won (vs 0.4B profit last year), net loss 0.84B won (vs 0.15B profit).
Corrected income statement due to errors in certain items (revenue adjusted from 9,082M to 9,084M).
Credit rating downgraded to BBB from BBB+ (이크레더블) in April 2026.
Issued 3rd unsecured private exchangeable bonds of 3B won in Feb 2026 (exchange price 2,860 won, exchange target: 1.05M treasury shares, maturity 2031).
Declared cash dividend of 10 won per share for FY2025 (total 0.53B won).
Separate debt-to-equity ratio 22.65% (year-end 2025: 21.44%), consolidated 13.66% (year-end 2025: 13.70%).
R&D expenses 2.7B won (vs 2.9B won in Q1 2025), focusing on AI, SSH, high-performance video engine.
Cash and cash equivalents 7B won (year-end 2025: 9.4B won), short-term financial instruments 2B won.
Pending lawsuit: claim for refund of purchase price (amount 33M won, counterclaim ongoing, outcome unpredictable).

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