Genians (263860) Q4 2025 earnings summary

Executive summary

• Achieved 21 consecutive years of profitability, with 2025 revenue of 48,381 million KRW and net income of 7,497 million KRW, despite a slight revenue decline year-over-year.

• Maintained leadership in NAC and EDR security solutions, expanding into MDR and ZTNA, and increased private sector sales to surpass public sector for the first time.

• Continued global expansion with new offices in UAE and India, and strategic investments in AI and zero trust security.

Financial highlights

• 2025 revenue: 48,381 million KRW (down 2% YoY); operating income: 7,007 million KRW (down 29% YoY); net income: 7,497 million KRW (down 31% YoY).

• Gross margin: 63.98%; operating margin: 14.48%; net margin: 15.50%.

• Cash and cash equivalents at year-end: 8,308 million KRW; total assets: 80,400 million KRW; equity: 62,211 million KRW.

• R&D expenses: 9,416 million KRW (19.46% of sales).

• Dividend payout: 2,603 million KRW (300 KRW per share, 34.7% payout ratio).

Outlook and guidance

• Anticipates continued growth in private sector and global markets, with focus on AI-driven security, MDR, and zero trust solutions.

• Expects increased demand for cybersecurity due to regulatory changes, AI threats, and digital transformation.