APR (278470) Q3 2025 earnings summary

Executive summary

• Achieved record-high consolidated revenue of KRW 386 billion in Q3 2025, up 122% year-over-year, with six consecutive quarters of record results driven by global expansion and successful promotional events.

• Overseas revenue exceeded KRW 300 billion for the first time in Q3 2025, now representing 80% of total sales, highlighting accelerated international growth.

• Operates primarily in cosmetics and home beauty devices, with major brands including Mediqube, April Skin, and Forment; home beauty device business is vertically integrated from R&D to after-sales.

• Listed on KOSPI in February 2024; maintains a BBB+ credit rating.

Financial highlights

• Q3 2025 consolidated revenue: KRW 386 billion (+122% YoY); operating profit: KRW 96 billion (+253% YoY); net profit: KRW 75 billion (+366% YoY).

• Cumulative nine-month revenue hit KRW 980 billion, nearly meeting full-year guidance within three quarters.

• Cumulative nine-month operating profit: KRW 235 billion, almost triple the previous year; net profit: KRW 191 billion (+197% YoY).

• Basic EPS for Q3 2025: KRW 5,123.

• Cash and cash equivalents at Q3 2025: KRW 62.4 billion.

Outlook and guidance

• Expectation for Q4 2025 revenue to meet or exceed KRW 400 billion, driven by continued promotional events and strong global demand.

• Offline sales in the U.S. projected to rise from under 10% to 20–30% of total U.S. sales in 2026.

• Aggressive business plans for 2026, with detailed guidance to be provided after Q4 results.

• Plans to expand production capacity for home beauty devices in response to rising demand and new product launches.

• Maintains a shareholder return policy targeting at least 25% of adjusted net income via dividends or share buybacks through 2026.