Doosan Robotics (454910) Q2 2026 earnings summary

Executive summary

• Revenue surged 290% year-over-year in 2Q26, driven by large-scale orders and ONExia contributions, while 1H 2026 revenue was KRW 32,969 million, with major sales in the US and Europe and a diversified customer base.

• North America Solutions accounted for 53% of revenue in 1H26, reflecting strategic regional expansion and leveraging ONExia acquisition.

• The company specializes in collaborative industrial robots, expanding from hardware to intelligent AI-driven solutions and automation systems, with ongoing investments in R&D and new product lines, including humanoid robots.

• Ongoing investments in AI-driven industrial humanoids and expansion of product lines and regional presence.

Financial highlights

• 2Q26 sales reached KRW 17,674 million, up 15.6% sequentially and 290% year-over-year; 1H 2026 consolidated revenue was KRW 32,969 million, nearly flat year-over-year.

• Operating loss narrowed year-over-year by KRW 1,233 million in 2Q26 and improved to KRW -26,487 million for 1H 2026 from KRW -59,472 million in 1H 2025.

• Net income loss improved by KRW 3,774 million year-over-year in 2Q26; net loss attributable to owners for 1H 2026 was KRW -21,957 million.

• Cash and cash equivalents increased by KRW 55,223 million year-over-year to KRW 252,361 million in 2Q26, but stood at KRW 96,517 million at 1H 2026, down from year-end 2025.

• R&D expenses for 1H 2026 were KRW 5,997 million, 18% of sales.

Outlook and guidance

• 2026 sales expected to grow 50% year-over-year, supported by EOL growth, facility expansion, and a shift toward intelligent robot solutions and recurring revenue models.

• Continued focus on scaling North America and Europe business, strengthening AI robot solutions, and leveraging recent acquisitions.

• Anticipated results from government robotics support programs by 3Q26.