MakinaRocks (477850) Q1 2026 earnings summary

Executive summary

• Specializes in industrial AI solutions, focusing on vertical AI for manufacturing, defense, and energy sectors, with a proprietary platform, Runway, supporting both SaaS and on-premise deployments.

• Listed on KOSDAQ as of May 2026, with significant strategic partnerships and a robust patent portfolio.

• Major clients include leading domestic and international manufacturers; expanding into defense and public sectors.

Financial highlights

• Q1 2026 consolidated revenue: KRW 3.03 billion, up from KRW 1.13 billion in Q1 2025.

• Operating loss for Q1 2026: KRW -2.43 billion, improved from KRW -3.23 billion in Q1 2025.

• Net loss for Q1 2026: KRW -2.37 billion, compared to KRW -3.39 billion in Q1 2025.

• Cash and cash equivalents at Q1 2026 end: KRW 3.12 billion.

• No dividends paid; no formal dividend policy established.

Outlook and guidance

• Raised KRW 39.5 billion through IPO in May 2026, with funds allocated to R&D, infrastructure, and overseas expansion.

• Plans to expand Runway platform’s SaaS and on-device AI capabilities, targeting manufacturing and defense markets.

• Market guidance indicates continued focus on high-growth enterprise AI platform and application segments.