MakinaRocks (477850) Q2 2026 earnings summary

Executive summary

• Specializes in enterprise AI operating systems for manufacturing and defense, focusing on high-precision, secure, and reliable physical AI solutions for industrial environments.

• Core product Runway integrates AI model development, deployment, and monitoring, supporting cloud, on-premise, and edge environments.

• Expanded customer base includes major domestic and global manufacturers and defense organizations, with a growing portfolio of patents and R&D projects.

Financial highlights

• 2026 H1 consolidated revenue: KRW 7.03 billion, down from KRW 11.46 billion in 2025 H1.

• Operating loss for 2026 H1: KRW -4.24 billion; net loss: KRW -3.92 billion.

• Cash and cash equivalents at June 30, 2026: KRW 44.1 billion, up from KRW 4.6 billion at 2025 year-end, mainly due to IPO proceeds.

• Equity increased to KRW 51.4 billion from KRW 14.4 billion at 2025 year-end.

Outlook and guidance

• Positioned for growth in the rapidly expanding global enterprise AI market, especially in platform and application segments.

• Focus on expanding Runway platform adoption and deepening penetration in manufacturing and defense sectors.