L&C BIO (290650) Q3 2026 earnings summary

Executive summary

• 9M 2026 consolidated revenue was ₩107.5bn, operating income ₩24.4bn and net loss ₩20.5bn; revenue and operating profit exceeded the prior-year period, while the net loss narrowed.

• Growth remained concentrated in human tissue grafts, with expansion supported by new product launches, a broader medical-device pipeline and planned China production.

Financial highlights

• 9M revenue reached ₩107.5bn versus ₩60.8bn in 9M 2025; Q3 revenue was ₩38.4bn versus ₩22.6bn.

• 9M operating income was ₩24.4bn versus ₩2.9bn; consolidated net loss narrowed to ₩20.5bn from ₩66.3bn.

• 9M operating cash flow was ₩27.7bn versus ₩6.5bn; cash and cash equivalents totaled ₩46.7bn at Sep. 30, 2026.

• Standalone 9M revenue was ₩86.7bn; operating income was ₩25.7bn and net loss was ₩18.8bn.

Outlook and guidance

• MegaFill Putty was scheduled for production and launch in Q4 2026 after process validation and regulatory reporting; MegaShield production resumption and formal production were also targeted for Q4.

• RB.Derm X was targeted for launch in Q1 2027; Re2O, Re2O Fine and Re2O V were listed as launched, while Re2O Plus development was complete with non-clinical testing planned for early 2027.

• MegaDerm Plus China local-production approval review was applied for in March 2026.