i3system (214430) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue reached KRW 114.28bn and operating income KRW 15.01bn; net income was KRW 13.09bn, versus KRW 13.61bn a year earlier.

• Infrared image sensors remained the core business, generating KRW 110.58bn, or 96.76% of 9M revenue.

Financial highlights

• 9M revenue was KRW 114.28bn vs. KRW 95.80bn YoY; gross profit was KRW 32.94bn vs. KRW 27.16bn, and operating income was KRW 15.01bn vs. KRW 12.65bn.

• 9M net income was KRW 13.09bn vs. KRW 13.61bn; basic EPS was KRW 1,792 vs. KRW 1,936.

• Q3 revenue was KRW 42.43bn vs. KRW 32.39bn YoY; operating income was KRW 5.88bn vs. KRW 4.22bn, and net income was KRW 4.37bn vs. a KRW 73m loss.

• 9M operating cash flow was KRW 15.67bn vs. KRW 26.85bn; cash and cash equivalents at period end were KRW 24.26bn.

Outlook and guidance

• Outstanding orders totaled KRW 151.82bn, including defense and satellite-related programs with delivery dates extending through 2032.

• A contract for infrared detector assemblies with an overseas defense customer was announced on Oct. 1, 2026, for KRW 61.82bn, with delivery scheduled through Sept. 2029.

• R&D is advancing space-qualified LWIR and MWIR TDI detectors, an electro-optical tracking system, and SWIR 3D image-sensor technology.