APR (278470) Q1 2026 earnings summary

Executive summary

• Achieved record consolidated revenue of KRW 593.4 billion in Q1 2026, up 123% year-over-year, surpassing previous peak season performance.

• Operating profit reached KRW 152.3 billion, a 174% increase year-over-year, with an operating margin of 25.7%.

• Net profit rose to KRW 117.3 billion, up 135% year-over-year, with a net margin of 19.8%.

• Growth momentum was broad-based, with strong demand and brand awareness across global markets, especially in the U.S., Europe, and Southeast Asia.

• Cosmetics and beauty devices remain the core business, with 71% of sales from cosmetics/beauty and 27% from home beauty devices as of 2025.

Financial highlights

• Q1 2026 revenue: KRW 593.4 billion; operating profit: KRW 152.3 billion; net profit: KRW 117.3 billion.

• Gross profit for Q1 2026 was KRW 457 billion, with cost of goods sold at KRW 136 billion.

• Gross margin for Q1 2026 was 55.2%, with a basic EPS of KRW 3,132.

• Total assets at Q1 2026: KRW 953 billion; equity: KRW 506.6 billion; liabilities: KRW 446.4 billion.

• Cash and cash equivalents at period end: KRW 153.6 billion.

Outlook and guidance

• No official upward revision to guidance, but management expects to reach KRW 2 trillion in revenue for the year.

• Q2 sales expected to be similar to or slightly higher than Q1, despite being an off-season.

• Entry into Costco and Walmart planned for Q2 and Q3, with schedules to be announced.

• Continued investment in R&D and global market expansion, with a focus on strengthening brand presence in the US, Japan, and emerging markets.

• The company maintains a policy of returning at least 25% of adjusted net income to shareholders via dividends or share buybacks from 2024–2026.