ROBOTIS (108490) Q3 2024 earnings summary

Executive summary

• 9M 2024 revenue rose to KRW 23,265,913,769 from KRW 20,357,251,244 YoY, while consolidated operating loss narrowed to KRW 2,240,051,266 from KRW 4,761,223,994.

• Actuators remained the core business; autonomous-robot sales grew but the segment continued to incur substantial operating losses amid investment in product development and market expansion.

Financial highlights

• Q3 revenue was KRW 6,836,117,951 vs KRW 6,581,051,229 YoY; operating loss was KRW 1,402,917,153 vs KRW 1,515,250,687.

• 9M gross profit was KRW 12,867,238,626 vs KRW 10,821,444,769; consolidated net loss was KRW 4,547,089,234 vs KRW 910,382,401.

• Attributable 9M net loss was KRW 4,653,219,543; basic EPS was negative KRW 361 vs negative KRW 79 YoY.

• Operating cash flow was KRW 3,347,534,066 vs an outflow of KRW 4,160,354,858 in 9M 2023.

Outlook and guidance

• Continued investment in autonomous robots is expected, with outdoor services requiring substantial time and cost for regulatory progress, AI data collection and infrastructure.

• Overseas expansion plans prioritize Japan and North America; hotel service has started in Japan, and North American interest prompted active market-entry planning.

• Robot rental and subscription models are being used or developed, with additional leasing and rental methods planned as markets evolve.