HIGEN Motor (160190) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue was ₩56,296m; operating loss widened to ₩7,914m and net loss to ₩7,472m YoY.

• Q3 revenue increased to ₩16,862m from ₩15,885m, while operating loss widened to ₩3,055m from ₩2,088m.

Financial highlights

• 9M revenue of ₩56,296m compared with ₩50,766m; cost of sales rose to ₩54,494m from ₩47,698m.

• 9M gross profit fell to ₩1,802m from ₩3,068m; SG&A increased to ₩9,716m from ₩8,924m.

• 9M net loss attributable to owners was ₩7,459m vs ₩6,333m; basic EPS was -₩257 vs -₩227.

Outlook and guidance

• IE4 high-efficiency motor development and production preparation target readiness before the minimum-efficiency rule scheduled for 2027.

• Drone motors and ESCs are under development for end-2026 mass production; AMR in-wheel actuators are targeted for commercial release in 2027.

• Robot actuator growth plans include QDD module series, humanoid actuators and dedicated production and testing lines established at the Changwon facility.