ALTEOGEN (196170) Q1 2026 earnings summary

Executive summary

• Achieved Q1 2026 consolidated revenue of KRW 71.6B, with net income of KRW 71.3B, reflecting strong licensing and milestone income.

• Maintained robust cash position (KRW 42.3B) and low gearing ratio (19.7%), supporting ongoing R&D and capital projects.

• Continued global expansion through major licensing deals with MSD, AstraZeneca, GSK, Daiichi Sankyo, Sandoz, and Biogen.

• Key product ALT-B4 (hyaluronidase) and biosimilars (ALT-L2, ALT-L9) advanced commercialization and regulatory milestones.

Financial highlights

• Q1 2026 revenue: KRW 71.6B (down from KRW 215.9B in FY25, up from KRW 102.9B in FY24).

• Operating income: KRW 39.3B; net income: KRW 71.3B; basic EPS: KRW 1,340.

• Gross margin: 86%; R&D expense ratio: 31% of sales.

• Cash and equivalents: KRW 42.3B; total assets: KRW 729.5B; equity: KRW 512.9B.

• Dividend payout: KRW 20B; cash dividend per share: KRW 371.

Outlook and guidance

• Expects continued revenue from milestone and royalty streams as new licensing agreements mature.

• Ongoing investments in R&D and manufacturing capacity to support pipeline and global launches.

• Anticipates further regulatory approvals and product launches in key markets (EU, China, US).